Viant Technology 2025 Q3 Earnings Revenue Up 7.1% but Net Income Falls 20.2%

Viant Technology (DSP) reported fiscal 2025 Q3 earnings on Nov 10, 2025, with mixed performance. The company’s total revenue rose 7.1% year-over-year to $85.58 million, exceeding expectations, while earnings per share (EPS) dropped 33.3% to $0.06. Management highlighted strategic wins, including a partnership with Molson Coors, and projected Q4 revenue growth of 14% year-over-year.

Revenue

Viant Technology’s Q3 revenue reached $85.58 million, a 7.1% increase from $79.92 million in 2024 Q3. The growth was driven by strong demand for connected TV (CTV) advertising, which accounted for 46% of total ad spend, and broader adoption of proprietary addressability solutions like Household ID and IRIS_ID. Revenue from marketers in business services, retail, automotive, and public services sectors surged 49% year-over-year.

Earnings/Net Income

The company’s EPS declined 33.3% to $0.06 in Q3 2025, compared to $0.09 in Q3 2024. Net income fell 20.2% to $5.15 million, down from $6.46 million in the prior year. Despite revenue growth, the decline in profitability reflects challenges in maintaining margins amid higher operational costs.

Post-Earnings Price Action Review

Following the earnings release, Viant’s stock edged down 0.00% during the latest trading day and 0.91% for the week, while gaining 1.51% month-to-date. The mixed price action underscores investor uncertainty about the company’s ability to sustain profitability amid declining EPS and net income. However, the 7.1% revenue growth and Q4 guidance—projecting revenue of $101.5–$104.5 million—highlight confidence in market expansion.

CEO Commentary

CEO Tim Vanderhook emphasized strong Q3 results, with 7% revenue growth and 12% contribution ex-TAC growth. He cited CTV demand, addressability solutions, and ViantAI as key drivers, while noting temporary headwinds from political ad spend. Vanderhook expressed optimism about accelerating growth in 2026, fueled by new partnerships and margin expansion.

Guidance

Viant expects Q4 2025 revenue of $101.5–$104.5 million (14% YoY), contribution ex-TAC of $62–$64 million (16% YoY), and adjusted EBITDA of $22.5–$23.5 million (35% YoY). Excluding political and seasonal advertiser impacts, the company anticipates 20% revenue and 21% contribution ex-TAC growth. CFO Larry Madden reiterated confidence in 2026 momentum, driven by new client onboarding and margin improvements.

Additional News

Viant secured a major partnership with Molson Coors, designated as their Advertising Platform to power U.S. programmatic campaigns starting in 2026. The company also announced participation in investor conferences, including Seaport’s 3rd Virtual TMT Conference and Wells Fargo’s 9th Annual TMT Summit, to discuss its growth strategy. These moves underscore Viant’s focus on expanding market share and enhancing transparency with stakeholders.

The company’s strong liquidity, with a current ratio of 2.56 and $161.29 million in cash, supports its strategic initiatives. However, a debt-to-equity ratio of 0.86 and negative enterprise value-to-sales ratio highlight ongoing financial challenges. Investors will closely monitor Q4 execution and the impact of the Molson Coors partnership on 2026 revenue.