What factors drove the changes in Viant Technology's revenue and profit?

What guidance did Viant Technology's management provide for the next earnings period?

Did Viant Technology beat or miss consensus estimates last quarter?

What were the key takeaways from Viant Technology's earnings call?

What is the revenue and EPS growth rate for Viant Technology year over year?

What is Viant Technology's latest dividend and current dividend yield?

What were the key takeaways from Viant Technology’s earnings call?

What is the market's earnings forecast for Viant Technology next quarter?

- **Q4 Record Growth**: 22% YoY revenue to $110.1M, 46% of spend on CTV, and 45% YoY EBITDA rise to $24.7M.
- **Outcomes Breakthrough**: 58% lower cost per conversion in tests, with WHOOP and Molson Coors ramping spend.
- **2026 Outlook**: 20% YoY revenue growth guided, driven by new clients, CTV adoption, and political ads.
- **AI & Data Edge**: Proprietary Household ID and IRIS ID cover 95%+ U.S. households, with IRIS ID in 50% of CTV bids.
- **Efficiency Boost**: 8% YoY increase in contribution per employee, $33.1M Q4 free cash flow.

**【CEO Summary Section】**
- **Record Q4 Performance**: Revenue grew 22% YoY to $110.1 million, with CTV spend reaching 46% of total platform spend. Contribution ex-TAC increased 19% YoY to $64.6 million, and adjusted EBITDA rose 45% YoY to $24.7 million.
- **Outcomes Launch Success**: Autonomous AI solution Outcomes delivered 58% lower cost per conversion in tests, with major clients like WHOOP and Molson Coors set to ramp ad spend in 2026.
- **2026 Growth Catalysts**: Strong ad demand, new flagship clients, major tentpole events (Winter Olympics, World Cup), and political ad spend in H2.

**【CFO Financial Commentary】**
- **Full Year 2025 Results**: Revenue of $344.2 million (+19% YoY), contribution ex-TAC of $208.7 million (+18% YoY), and adjusted EBITDA of $57.4 million (+29% YoY).
- **Q1 2026 Guidance**: Revenue $83-86 million (+20% YoY midpoint), contribution ex-TAC $49-51 million (+17% YoY midpoint), and adjusted EBITDA $8.5-9.5 million (+67% YoY midpoint).
- **Efficiency Improvements**: Contribution ex-TAC per employee up 8% YoY, free cash flow of $33.1 million in Q4.

**【Q&A Highlights】**
- **Competitive Differentiation**: Proprietary data (Household ID, IRIS ID), direct access premium publishers, and ViantAI outperform walled gardens, with 20+ Outcomes pilots showing 43%-95% cost per outcome reductions.
- **IRIS ID Growth**: 50% of CTV bidstream now includes IRIS ID, targeting 70%+ penetration in 2026, driven by 1,400+ content management system integrations.
- **Amazon Threat**: Subsidized business models and lack of addressability limit long-term impact, while Viant's focus on CTV, addressability, and AI maintains competitive edge.
- **Pipeline Strength**: $250 million+ late-stage pipeline with wins in financial services, CPG, and public services, supported by expanded enterprise sales team.


Viant Technology Inc.(DSP)-20260312-2025 Q4 Earnings call transcript

- **Record Q3 Growth**: Revenue $85.6M (+7% YoY), contribution ex-TAC $53M (+12% YoY). Underlying growth (ex-political) 19% YoY for revenue, 22% YoY for contribution ex-TAC.
- **Molson Coors Win**: $250M+ pipeline deal leveraging ViantAI, Household ID, and IRIS_ID. Expected to scale in 2026.
- **CTV Leadership**: 46% of spend on CTV,56% of spend on video formats, up from 43% in 2023. IRIS_ID content targeting drives 48% higher conversion rates.
- **ViantAI Expansion**: AI Decisioning launch Q4 2025 targets SMBs and e-commerce, completing the 4-phase autonomous ad platform.
- **Financial Strength**: Q3 EBITDA $16M (+9% YoY), Q4 guidance for EBITDA $22.5-$23.5M (+35% YoY). Full-year 2025 EBITDA margin 27% vs. 2024's 25%.

**【CEO Summary Section】**
- Viant delivered record Q3 performance with revenue of $85.6 million, up 7% YoY, and contribution ex-TAC of $53 million, up 12% YoY. Excluding political ad spend, underlying growth was 19% YoY for revenue and 22% YoY for contribution ex-TAC.
- Secured a multiyear partnership with Molson Coors, representing a significant win in the addressable market for autonomous advertising. The partnership leverages Viant's AI Bidding, Household ID, and IRIS_ID solutions to drive measurable outcomes.
- CTV ad spend reached an all-time high, accounting for 46% of total platform spend, with 50% of CTV spend routed through Viant's Direct Access premium publisher program.
- ViantAI's AI Bidding phase 3.0 is expected to launch ahead of schedule, automating 85% of ad spend and reducing media costs for clients.
- The company is targeting $250 million in incremental ad spend from major U.S. advertisers, with Molson Coors and other unnamed clients driving pipeline growth.

**【CFO Financial Commentary】**
- Q3 non-GAAP net income was $11.2 million, with adjusted EBITDA of $16 million, up 9% YoY and exceeding the high end of guidance by 7%. Adjusted EBITDA margin was 30% of contribution ex-TAC, up 200bps YoY.
- Operating expenses totaled $37 million, up 13% YoY, driven by acquisitions of IRIS TV and Lockr. Organic OpEx growth was 7% YoY, reflecting operating leverage.
- Q4 guidance: Revenue $101.5-$104.5 million (14% YoY growth at midpoint), contribution ex-TAC $62-$64 million (16% YoY growth), and adjusted EBITDA $22.5-$23.5 million (35% YoY growth). Excluding political headwinds, pro forma growth rates exceed 20%.
- Full-year 2025 expectations: Revenue growth 17%, contribution ex-TAC growth 25%, and adjusted EBITDA margin 27%.

**【Q&A Key Highlights】**
- **AI Decisioning Launch**: The final phase of ViantAI will enable fully autonomous campaigns, targeting SMBs and direct-to-consumer e-commerce advertisers. The product is expected to launch by end-2025, complementing existing AI Bidding and Planning phases.
- **Competitive Differentiation**: Viant's independence from inventory monetization (unlike Google, Meta, and The Trade Desk) positions it as the only truly objective buy-side platform. This aligns incentives with advertisers to maximize ROI.
- **Molson Coors Impact**: The partnership is expected to contribute meaningfully to 2026 growth, with onboarding beginning in Q1 and scaled spend in Q2+. The deal reflects Viant's ability to win against major DSPs like Google and The Trade Desk.
- **CTV Growth Trajectory**: CTV spend penetration is expected to accelerate, with IRIS_ID content targeting solutions driving 48% higher conversion rates vs. control groups. Viant's addressability (Household ID covers 95% of U.S. households) gives it a 4x advantage over competitors.
- **Political Ad Spend Headwinds**: Q4 revenue growth will face a 600bp YoY headwind from political ad spend, but underlying growth (excluding political) is expected to remain strong at 20% YoY.
- **Share Repurchases**: $59.6 million returned to shareholders YTD, with $40.4 million remaining under the buyback program. Management views shares as undervalued and plans opportunistic repurchases.

Viant Technology Inc. (DSP) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: Q2 revenue up 18% YoY to $77.9M, driven by 45% CTV ad spend and ViantAI adoption. 
- **ViantAI Impact**: 85% of ad spend via AI Bidding, 46% media cost savings, $250M+ new advertiser pipeline for 2026. 
- **Financial Strength**: $173M cash, 11% YoY operating efficiency gain, $8M non-GAAP net income. 
- **2026 Outlook**: New advertiser wins expected to offset Q3 headwinds, with AI Decisioning targeting walled gardens. 
- **Share Buybacks**: $50.2M returned to shareholders, $49.8M remaining under repurchase program.

**【CEO Summary Section】**
- **Record Q2 Results**: Revenue of $77.9M (+18% YoY), Contribution ex-TAC of $48.4M (+16% YoY), Adjusted EBITDA of $11.3M (+18% YoY). CTV accounted for 45% of total ad spend.
- **Strategic Initiatives**: 
  - **CTV Expansion**: 30+ premium publishers in Direct Access program, including LG (45M connected devices). 
  - **Addressability Leadership**: Household ID targets 95% of U.S. households, IRIS_ID integrated with Wurl for 3,000+ FAST channels. 
  - **ViantAI Progress**: 85% of ad spend via AI Bidding, 25,000+ AI Planning interactions, AI Measurement & Analysis launched in Q2, AI Decisioning scheduled for late 2025.
- **New Business Pipeline**: $250M+ incremental ad spend from major U.S. advertisers (e.g., beverage, QSR, CPG) set to onboard in 2026.

**【CFO Financial Commentary】**
- **Q2 Financials**: 
  - Revenue: $77.9M (vs. $66.0M YoY), Contribution ex-TAC: $48.4M (vs. $41.7M YoY), Adjusted EBITDA: $11.3M (vs. $9.5M YoY). 
  - Non-GAAP Net Income: $8.0M (+11% YoY), Cash: $173M, Undrawn Credit Facility: $75M. 
  - Operating Expenses: $37.1M (+16% YoY), but +10% YoY organically due to acquisitions. Contribution ex-TAC per employee +11% YoY.
- **Q3 Guidance**: 
  - Revenue: $83.5M-$86.5M (+6% YoY), Contribution ex-TAC: $51M-$53M (+10% YoY). 
  - Headwinds: 1,200bps from political ad spend lapping and a lost advertiser (summer seasonality). 
  - Adjusted EBITDA: $14M-$15M (-1% YoY) due to headwinds, but 2026 growth expected from new pipeline.
- **Share Repurchases**: $50.2M returned to shareholders since May 2024, $49.8M remaining under current authorization.

**【Q&A Key Highlights】**
- **ViantAI Differentiation**: 
  - AI Bidding delivers 46% media cost savings vs. 1% fees at competitors. 
  - AI Planning automates enterprise campaigns in seconds, reducing need for media planners. 
  - No switching costs; advertisers can onboard in hours via chat-based interface. 
  - AI Decisioning (late 2025) will enable fully autonomous campaigns, targeting Meta/Google walled gardens.
- **Market Competition**: 
  - Amazon's relevance limited to CPG verticals with transaction data. 
  - Walled gardens control 60%+ of U.S. ad spend; ViantAI aims to capture SMB/DTC e-commerce spend via transparency and efficiency. 
  - Trade Desk faces headwinds from walled gardens, but Viant's buy-side-only model offers unique value.
- **Customer Retention**: 
  - Enterprise sales team expansion to directly engage advertisers, reducing reliance on agencies. 
  - 23% YoY increase in customers generating >$1M Contribution ex-TAC, top 100 customers +21% YoY.
- **Political Ad Headwinds**: 
  - Q3 Contribution ex-TAC growth pressured by 1,000bps from political ad lapping and a lost advertiser. 
  - Minimal impact in Q4+ as advertiser seasonality ends. 
  - $250M pipeline from major U.S. advertisers expected to offset headwinds in 2026.


Viant Technology Inc. (DSP) Q2 2025 Earnings Call Transcript

- **Record Q1 Growth**: 32% revenue YoY, 25% contribution ex-TAC, 76% EBITDA surge. CTV mix hits 45%.
- **AI-Driven Efficiency**: 85% of spend automated via AI Bidding; 13% EBITDA margin vs. 9.7% last year.
- **CTV Superiority**: 200%+ incremental lift vs. search/social; 500%+ Household ID spend growth.
- **Macroeconomic Resilience**: 90%+ of Q2 deferrals expected in H2; minimal advertiser impact from tariffs.
- **Share Repurchase Expansion**: $50M buyback authorization increased to $100M.

**【CEO Summary Section】**
- Q1 2025 revenue reached $70.6 million, up 32% YoY, with contribution ex-TAC at $42.7 million (+25% YoY). CTV accounted for 45% of total spend, the highest mix on record.
- Adjusted EBITDA surged 76% YoY to $5.4 million, driven by ViantAI adoption (85% of spend automated) and cost control.
- Strategic focus on CTV, Addressability (Household ID/IRIS ID), and AI to capture secular growth. Q2 guidance reflects 3-4% revenue deferral to H2 due to macro uncertainty.

**【CFO Financial Commentary】**
- Non-GAAP operating expenses rose 20% YoY to $37.3 million, but organic growth (excluding acquisitions) was 14% YoY. Contribution ex-TAC per employee increased 13%.
- Adjusted EBITDA margin expanded 360bps to 13%, with Non-GAAP net income up 109% to $2.8 million.
- $174 million cash on hand; $17 million shares repurchased in Q1 under $50M buyback program, now expanded by another $50M.

**【Q&A Key Takeaways】**
- **CTV Dominance**: 45% of spend vs. 40% peers; Direct Access saves 20-30% fees, driving 55% of CTV spend through premium inventory.
- **Incrementality Shift**: 500%+ Household ID spend growth; CTV delivers 200%+ incremental lift vs. search/social's mid-single digits.
- **Amazon Threat**: Under 1% of Open Web spend; conflict of interest limits publisher data sharing.
- **Macro Resilience**: <10 advertisers delayed Q2 spend; 90%+ of deferrals expected in H2.
- **ViantAI Growth**: AI Bidding contributes 75%+ YoY; fully autonomous DSP expected by end-2025.


Viant Technology (DSP)-6 May 25-2025 Q1 Earnings call transcript

- **Q4 Growth Records**: Revenue +40% YoY, CTV ad spend >40% of total, and AI-powered campaigns now 80% of platform spend.
- **Game-Changing Acquisitions**: Locker acquisition streamlines publisher integrations, driving 50%+ growth in addressable campaigns. IRIS TV complements Viant's CTV targeting with video-level granularity.
- **AI-Driven Efficiency**: ViantAI Planning cuts campaign setup time from weeks to minutes, with early adopters doubling new business velocity. Q2 AI Measurement & Analysis and H2 AI Decisioning launches set to redefine ad buying.
- **2025 Outlook**: 25%+ revenue growth, expanding margins despite $60M+ in acquisition-related expenses. SMBs and DTC e-commerce companies are key growth frontiers for CTV.

**【CEO Summary Section】**
- **Q4 Record Performance**: Revenue grew 40% YoY to $90.1M, contribution ex TAC rose 28% YoY to $54.4M, and adjusted EBITDA increased 31% YoY to $17.1M. CTV ad spend accounted for over 40% of total platform spend.
- **Strategic Acquisitions**: Announced acquisition of Locker, a data collaboration platform, to enhance addressability and accelerate adoption of Viant's household ID and IRIS ID solutions. Also highlighted the IRIS TV acquisition, which complements Viant's CTV targeting capabilities.
- **AI Innovation Momentum**: ViantAI now powers 80% of ad spend on the platform. Launched AI Planning in Q3 2024, enabling agencies to build enterprise-level campaigns in minutes. AI Measurement & Analysis will launch in Q2 2025, with AI Decisioning expected in H2 2025.
- **CTV Growth Driver**: CTV ad spend increased 40% YoY in 2024, driven by the migration of linear TV budgets. Direct access CTV ad spend grew nearly 70% YoY, accounting for 50% of total CTV spend.

**【CFO Financial Commentary】**
- **Full Year 2024 Results**: Revenue up 30% YoY to $289.2M, contribution ex TAC up 24% YoY to $177.4M, and adjusted EBITDA up 53% YoY to $24.4M. Non-GAAP net income rose 59% YoY to $34.7M.
- **Q4 Financial Highlights**: GAAP net income of $7.7M (vs. $3.3M YoY), Non-GAAP EPS of $0.17 (vs. $0.14 YoY). Cash flow from operations was $16.5M, ending the quarter with $205M in cash.
- **2025 Outlook**: Q1 2025 guidance: Revenue $65M-$68M (25% YoY growth), contribution ex TAC $40.5M-$42.5M (22% YoY growth). Expect continued margin expansion despite $60M+ in incremental operating expenses from acquisitions.

**【Q&A Key Takeaways】**
- **Locker Acquisition Logic**: Reduces publisher integration friction by enabling one-time integration with all alternative IDs. Expected to accelerate adoption of Viant's household ID and IRIS ID, while helping publishers monetize first-party data.
- **IRIS TV Contribution**: Minimal revenue impact in Q4 (1% of total), but strategic for long-term CTV targeting and measurement leadership.
- **Market Trends**: Display advertising weakness linked to last-touch attribution, but Viant's CTV and addressable solutions are outperforming. SMBs and DTC e-commerce companies are key growth opportunities for ViantAI-driven CTV campaigns.
- **ViantAI Scalability**: Early adopters report 2x new business pitch velocity and 15%+ ROAS improvements. Custom AI integrations with agency data platforms are creating sticky partnerships.


Actual	12.86	-0.27	-0.32	-0.2	0.11	-0.23	-0.24	-0.22	-0.15	-0.17	-0.07	-0.03	0.04	-0.06	0	0.09	0.1	-0.07	0.02	0.06	0.31
Forecast	10.33	-0.149	-0.341	-0.2785	-0.0077	-0.3477	-0.2164	-0.18	-0.1583	-0.1987	-0.1209	-0.065	-0.0261	-0.082	0.03	0.0427	0.136	-0.0738	0.0078	0.0502	0.1657
Surprise	+24.49%	-81.21%	+6.16%	+28.19%	+1528.57%	+33.85%	-10.91%	-22.22%	+5.24%	+14.44%	+42.10%	+53.85%	+253.26%	+26.83%	-100.00%	+110.77%	-26.47%	+5.15%	+156.41%	+19.52%	+87.09%

DSP

DSP fundamentals

DSP Q4 2025 Earnings

Earnings Call

You can ask Aime

DSP

DSP fundamentals

DSP Q4 2025 Earnings

Earnings Call

DSP Earnings Call Summary for Q4/20255:00 PM on Mar 11, 2026

DSP Earnings Call Summary for Q3/20255:00 PM on Nov 10, 2025

DSP Earnings Call Summary for Q2/20255:00 PM on Aug 11, 2025

DSP Earnings Call Summary for Q1/20255:00 PM on May 6, 2025

DSP Earnings Call Summary for Q4/20245:00 PM on Mar 3, 2025

You can ask Aime