AG真人官方

Viant Technology Announces Second Quarter 2025 Financial Results

Revenue growth of 18% and gross profit growth of 17% year-over-year

Contribution ex-TAC growth of 16% and adjusted EBITDA growth of 18% year-over-year

Generated record CTV advertiser spend⁽¹⁾, accounting for approximately 45% of total ad spend

IRVINE, Calif.--(BUSINESS WIRE)-- Viant Technology Inc. (Nasdaq: DSP), a leader in AI-powered programmatic advertising, today reported financial results for its second quarter ended June 30, 2025.

"Viant delivered record second quarter results, with revenue, contribution ex-TAC and adjusted EBITDA each increasing by a strong double-digit rate year-over-year," said Tim Vanderhook, Co-Founder and CEO, Viant. "We continue to execute against our strategic priorities by further advancing our CTV Direct Access premium publisher program and expanding the presence and utilization of our industry-leading audience and content addressability solutions, Household ID and IRIS_ID. Additionally, we successfully launched the third phase of our ViantAI product suite, AI Measurement and Analysis, designed to revolutionize reporting with on-demand insights. Our innovative solutions are resonating across the marketplace, leading to unprecedented engagement with major U.S. advertisers."

Second Quarter 2025 Financial Highlights, year-over-year (in thousands, except percentages and per share data):

Recent Business Highlights:

• Generated record Connected TV ("CTV") ad spend in the second quarter with CTV accounting for approximately 45% of total ad spend on the platform.
• Launched the third phase of the ViantAI product suite, AI Measurement and Analysis, designed to revolutionize reporting with on-demand insights.
• Established a growth pipeline of over $250 million in potential annualized ad spend opportunities associated with major U.S. advertisers, a new addressable market for Viant.
• Purchased 3.8 million shares of Class A common stock from May 1, 2024 through August 8, 2025 for a total of $50.2 million, including $28.5 million year-to-date through August 8, 2025.
• Appointed ad-tech industry veteran, AI expert, and former TubeMogul co-founder and CEO, Brett Wilson, to the Viant board of directors as an independent director.

"We are pleased to deliver strong second quarter performance," stated Larry Madden, CFO of Viant. "We generated year-over-year revenue growth of 18%, contribution ex-TAC growth of 16%, and adjusted EBITDA growth of 18%. We are encouraged by a robust pipeline of new business opportunities, amongst major U.S. advertisers, who are increasingly recognizing the value of Viant's unique CTV offering, advanced addressability solutions and AI product suite."

For the third quarter 2025, the Company expects:

• Revenue in the range of $83.5 million to $86.5 million
• Contribution ex-TAC in the range of $51.0 million to $53.0 million
• Non-GAAP operating expenses in the range of $37.0 million to $38.0 million
• Adjusted EBITDA in the range of $14.0 million to $15.0 million

Contribution ex-TAC, non-GAAP operating expenses, adjusted EBITDA, adjusted EBITDA as a percentage of contribution ex-TAC, non-GAAP net income, and non-GAAP earnings (loss) per share of Class A common stock鈥攂asic and diluted are non-GAAP financial measures. These non-GAAP financial measures should be considered in addition to, but not as a substitute for, the information provided in accordance with U.S. generally accepted accounting principles ("GAAP"). Reconciliations of these non-GAAP financial measures to Viant鈥檚 financial results as determined in accordance with GAAP are included at the end of this press release under 鈥淩econciliation of Non-GAAP Financial Measures.鈥� For a description of these non-GAAP financial measures, including the reasons management uses each measure, please see 鈥淣on-GAAP Financial Measures鈥� in this press release. We are not able to estimate gross profit, total operating expenses or net income (loss) on a forward-looking basis or reconcile the guidance provided for contribution ex-TAC, non-GAAP operating expenses, or adjusted EBITDA to the closest corresponding GAAP financial measures on a forward-looking basis without unreasonable efforts due to the variability and complexity with respect to the charges excluded from these non-GAAP financial measures; in particular, the impact of future traffic acquisition costs and other platform operations expenses, as well as the measures and effects of our stock-based compensation related to equity grants that are directly impacted by unpredictable fluctuations in our share price and the potential forfeitures of equity grants. We expect the variability of the above charges could have a significant and potentially unpredictable impact on our future GAAP financial results.

(1) We define advertiser spend ("ad spend") as the total amount billed to our customers for activity on our platform inclusive of the costs of advertising media, third-party data, other add-on features and our platform fee we charge customers.

(2) For a discussion on how we define, use and calculate these non-GAAP financial measures and a reconciliation thereof to the most directly comparable GAAP financial measures, see 鈥淣on-GAAP Financial Measures鈥� and the supplementary schedules under 鈥淩econciliation of Non-GAAP Financial Measures鈥� in this press release.

Supplemental Financial and Other Information:

Supplemental financial and other information can be accessed through Viant鈥檚 Investor Relations website at investors.viantinc.com.

As of June 30, 2025, there were 16,251,978 shares of the Company's Class A common stock outstanding and 46,696,493 shares of the Company's Class B common stock outstanding. For more information, please refer to our Quarterly Report on Form 10-Q expected to be filed with the Securities and Exchange Commission ("SEC") on August 11, 2025.

Conference Call and Webcast Details:

Viant will host a conference call and webcast to discuss its financial results on Monday, August 11, 2025 at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). A live webcast of the call can be accessed from Viant鈥檚 Investor Relations website. An archived version of the webcast will be available from the same website after the call. Viant Technology has used, and intends to continue to use, the 鈥淚nvestor Relations鈥� section of its website at investors.viantinc.com, its LinkedIn account, the LinkedIn account of its Chief Executive Officer, Tim Vanderhook, the LinkedIn account of its Chief Operating Officer, Chris Vanderhook, its X (formerly known as Twitter) account (@viant_tech), and Chris Vanderhook's X account (@cvanderhook) to post information that may be important to investors. Investors and potential investors are encouraged to consult Viant Technology鈥檚 website and the foregoing LinkedIn and X accounts regularly for important information.

About Viant

Viant Technology Inc. (NASDAQ: DSP) is a leader in AI-powered programmatic advertising, dedicated to driving innovation in digital marketing. Viant鈥檚 omnichannel platform built for connected TV allows marketers to plan, execute and measure their campaigns with unmatched precision and efficiency. With the launch of ViantAI, Viant is building the future of fully autonomous advertising solutions, empowering advertisers to achieve their boldest goals. Viant was recently awarded Best Demand-Side Platform by MarTech Breakthrough, Great Place to Work庐 certification and received the Business Intelligence Group鈥檚 AI Excellence Award. Learn more at viantinc.com.

Forward-Looking Statements

This press release contains 鈥渇orward-looking statements鈥� within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.

Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as 鈥済uidance,鈥� 鈥渂elieve,鈥� 鈥渆xpect,鈥� 鈥渆stimate,鈥� 鈥減roject,鈥� 鈥減lan,鈥� 鈥渨ill,鈥� or words or phrases with similar meaning.

Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements contained in this press release relate to, among other things, Viant鈥檚 projected financial performance and operating results, including our guidance for revenue, contribution ex-TAC, non-GAAP operating expenses, and adjusted EBITDA, as well as statements regarding Viant鈥檚 growth prospects and drivers, strategic priorities, new business pipeline, impacts from the ViantAI product suite and other offerings and repurchases of stock under the stock repurchase program. Forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, the market for programmatic advertising may develop slower or differently than Viant鈥檚 expectations, the demands and expectations of customers, the ability to attract and retain customers, the impact of information and data privacy trends and regulations on our business and competitors and other economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from the forward-looking statements. Investors are referred to our filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and subsequent Quarterly Reports on Form 10-Q, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement. We do not intend and undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Non-GAAP Financial Measures

To provide investors and others with additional information regarding Viant鈥檚 results, we have included in this press release the following financial measures that are not calculated in accordance with GAAP: contribution ex-TAC, non-GAAP operating expenses, adjusted EBITDA, adjusted EBITDA as a percentage of contribution ex-TAC, non-GAAP net income (loss) and non-GAAP earnings (loss) per share of Class A common stock鈥攂asic and diluted. The Company鈥檚 management believes that this information can assist investors in evaluating the Company鈥檚 operational trends, financial performance, and cash generating capacity. Management believes these non-GAAP financial measures allow investors to evaluate the Company鈥檚 financial performance using some of the same measures as management.

Contribution ex-TAC is a non-GAAP financial measure. Gross profit is the most comparable GAAP financial measure, which is calculated as revenue less platform operations expense. In calculating contribution ex-TAC, we add back other platform operations expense to gross profit. Contribution ex-TAC is a key profitability measure used by our management and board of directors to understand and evaluate our operating performance and trends, develop short- and long-term operational plans and make strategic decisions regarding the allocation of capital. 鈥淭raffic acquisition costs鈥� or 鈥淭AC鈥� represents amounts incurred and payable to suppliers for the cost of advertising media, third-party data and other add-on features related to our fixed CPM pricing option and certain arrangements related to our percentage of spend pricing option. In particular, we believe that contribution ex-TAC can provide a measure of period-to-period comparisons for all pricing options within our business. Accordingly, we believe that this measure provides information to investors and the market in understanding and evaluating our operating results in the same manner as our management and board of directors.

Non-GAAP operating expenses is a non-GAAP financial measure. Total operating expenses is the most comparable GAAP financial measure. Non-GAAP operating expenses is defined by us as total operating expenses plus other expense (income), net, less TAC, stock-based compensation, depreciation, amortization, and certain other items that are not related to our core operations, such as restructuring and other charges, transaction expense, and Tax Receivable Agreement ("TRA") remeasurement expense. Non-GAAP operating expenses is a key component in calculating adjusted EBITDA, which is one of the measures we use to provide our business outlook to the investment community. Additionally, non-GAAP operating expenses is used by our management and board of directors to understand and evaluate our operating performance and trends, to prepare and approve our annual budget and to develop short- and long-term operational plans. We believe that the elimination of TAC, stock-based compensation, depreciation, amortization and certain other items not related to our core operations provides another measure for period-to-period comparisons of our business, provides additional insight into our core controllable costs, and is a useful metric for investors because it allows them to evaluate our operational performance in the same manner as our management and board of directors.

Adjusted EBITDA is a non-GAAP financial measure defined by us as net income (loss) before interest expense (income), net, income tax benefit (expense), depreciation, amortization, stock-based compensation and certain other items that are not related to our core operations, such as restructuring and other charges, transaction expense, and TRA remeasurement expense. Net income (loss) is the most comparable GAAP financial measure. Adjusted EBITDA as a percentage of contribution ex-TAC is a non-GAAP financial measure we calculate by dividing adjusted EBITDA by contribution ex-TAC for the period or periods presented. Net income (loss) as a percentage of gross profit is the most comparable GAAP financial measure.

Adjusted EBITDA and adjusted EBITDA as a percentage of contribution ex-TAC are used by our management and board of directors to understand and evaluate our core operating performance and trends, to prepare and approve our annual budget and to develop short- and long-term operational plans. In particular, we believe that the exclusion of the amounts eliminated in calculating adjusted EBITDA can provide a measure for period-to-period comparisons of our business. Adjusted EBITDA as a percentage of contribution ex-TAC, a non-GAAP financial measure, is used by our management and board of directors to evaluate adjusted EBITDA relative to our profitability after costs that are directly variable to revenues, which comprise TAC. Accordingly, we believe that adjusted EBITDA and adjusted EBITDA as a percentage of contribution ex-TAC provide information to investors and the market in understanding and evaluating our operating results in the same manner as our management and board of directors.

Non-GAAP net income (loss) is a non-GAAP financial measure defined by us as net income (loss) adjusted to eliminate the impact of stock-based compensation and certain other items that are not related to our core operations, such as restructuring and other charges, transaction expense, and TRA remeasurement expense, as well as the income tax effect of these adjustments. Net income (loss) is the most comparable GAAP financial measure. Non-GAAP net income (loss) is a key measure used by our management and board of directors to evaluate operating performance, generate future operating plans and make strategic decisions regarding the allocation of capital. In particular, we believe that the elimination of stock-based compensation and certain other items that are not related to our core operations provides measures for period-to-period comparisons of our business and additional insight into our core controllable costs. Accordingly, we believe that non-GAAP net income (loss) provides information to investors and the market generally in understanding and evaluating our results of operations in the same manner as our management and board of directors.

Non-GAAP earnings (loss) per share of Class A common stock鈥攂asic and diluted is a non-GAAP financial measure defined by us as earnings (loss) per share of Class A common stock鈥攂asic and diluted, adjusted to eliminate the impact of stock-based compensation and certain other items that are not related to our core operations, such as restructuring and other charges, transaction expense, and TRA remeasurement expense, as well as the income tax effect of these adjustments. Earnings (loss) per share of Class A common stock鈥攂asic and diluted is the most comparable GAAP financial measure. Non-GAAP earnings (loss) per share of Class A common stock鈥攂asic and diluted is used by our management and board of directors to evaluate operating performance, generate future operating plans and make strategic decisions regarding the allocation of capital. In particular, we believe that the elimination of stock-based compensation and certain other items that are not related to our core operations provides measures for period-to-period comparisons of our business and provides additional insight into our core controllable costs. Accordingly, we believe that non-GAAP earnings (loss) per share of Class A common stock鈥攂asic and diluted provides information to investors and the market generally that aids in the understanding and evaluation of our results of operations in the same manner as our management and board of directors.

Basic non-GAAP earnings (loss) per share of Class A common stock is calculated by dividing the non-GAAP net income (loss) attributable to Class A common stockholders by the number of weighted-average shares of Class A common stock outstanding. Shares of our Class B common stock do not share in our earnings or losses and are therefore not participating securities. As such, separate presentation of basic and diluted non-GAAP earnings (loss) of Class B common stock under the two-class method has not been presented.

Diluted non-GAAP earnings (loss) per share of Class A common stock adjusts the basic non-GAAP earnings (loss) per share for the potential dilutive impact of shares of Class A common stock such as equity awards using the treasury-stock method and Class B common stock using the if-converted method. Diluted non-GAAP earnings (loss) per share of Class A common stock considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. Shares of our Class B common stock, restricted stock units ("RSUs") and nonqualified stock options ("NQSOs") are considered potentially dilutive shares of Class A common stock. For the three months ended June 30, 2025, Class B common stock has been excluded from the computation of diluted earnings (loss) per share of Class A common stock because the effect would have been anti-dilutive under the if-converted method. For the three months ended June 30, 2024, Class B common stock has been excluded from the computation of diluted earnings (loss) per share of Class A common stock because the effect would have been anti-dilutive under the if-converted method.

These non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from, the Company鈥檚 financial information calculated in accordance with GAAP and should not be considered measures of the Company鈥檚 liquidity. Further, these non-GAAP financial measures as defined by the Company may not be comparable to similar non-GAAP financial measures presented by other companies, including peer companies, and therefore comparability may be limited. The presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that the Company鈥檚 future results, cash flows or leverage will be unaffected by other unusual or non-recurring items. Management encourages investors and others to review Viant鈥檚 financial information in its entirety and not rely on a single financial measure.

Reconciliation of Non-GAAP Financial Measures

The following tables show the reconciliations of the Company鈥檚 non-GAAP financial measures contained in this press release to the most directly comparable GAAP financial measures.

The following table presents the calculation of gross profit and the reconciliation of gross profit to contribution ex-TAC for the periods presented (unaudited; in thousands):

The following table presents a reconciliation of total operating expenses to non-GAAP operating expenses for the periods presented (unaudited; in thousands):

The following table presents a reconciliation of net income (loss) to adjusted EBITDA for the periods presented (unaudited; in thousands):

The following table presents the calculation of net income (loss) as a percentage of gross profit and the calculation of adjusted EBITDA as a percentage of contribution ex-TAC for the periods presented (unaudited; in thousands, except percentages):

The following table presents a reconciliation of net income (loss) to non-GAAP net income (loss) for the periods presented (unaudited; in thousands):

The following table presents a reconciliation of earnings (loss) per share of Class A common stock鈥攂asic and diluted to non-GAAP earnings (loss) per share of Class A common stock鈥攂asic and diluted for the periods presented (unaudited; in thousands, except per share data):

听

View source version on businesswire.com:

Media Contact:

Marielle Lyon

[email protected]

Investor Contact:

Nick Zangler

[email protected]

Source: Viant Technology Inc.