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Financial Performance - Revenue for Q3 2025 was $85.6 million, a 7% increase from $79.9 million in Q3 2024[104] - Gross profit for Q3 2025 was $39.8 million, representing a 13% increase from $35.3 million in Q3 2024[104] - Contribution ex-TAC for Q3 2025 was $53.0 million, up 12% from $47.4 million in Q3 2024[104] - Net income for Q3 2025 decreased to $5.2 million, down 20% from $6.5 million in Q3 2024[104] - Non-GAAP net income for Q3 2025 was $11.2 million, a decrease of 9% from $12.3 million in Q3 2024[104] - Adjusted EBITDA for Q3 2025 was $16.0 million, reflecting a 9% increase from $14.7 million in Q3 2024[104] - Revenue for the nine months ended September 30, 2025, was $234.1 million, an 18% increase from $199.2 million in the same period of 2024[104] - Net income for the nine months ended September 30, 2025, was $3.6 million, a decrease of $1.1 million or 23% from $4.7 million in 2024[132] - Non-GAAP net income for the nine months ended September 30, 2025, was $22.0 million, compared to $20.9 million for the same period in 2024, reflecting a growth of approximately 5.3%[158] Operating Expenses - Total operating expenses for the three months ended September 30, 2025, were $81,351,000, up from $75,884,000 in 2024, reflecting a 7% increase[1] - Platform operations expenses increased by $1,145,000, or 3%, to $45,743,000, with a notable rise in other platform operations expenses[114] - Sales and marketing expenses rose by $3,733,000, or 29%, to $16,740,000, primarily due to increased advertising and personnel costs[115] - Technology and development expenses increased by $2,072,000, or 37%, to $7,703,000, driven by higher personnel and technology costs[116] - General and administrative expenses decreased by $1,483,000, or 12%, to $11,165,000, mainly due to a reduction in bad debt and stock-based compensation[117] - Total operating expenses for the nine months ended September 30, 2025, were $234.7 million, up $33.1 million or 16% from $201.6 million in 2024[132] - Technology and development expenses increased by $5.6 million or 34%, reaching $22.3 million for the nine months ended September 30, 2025, compared to $16.7 million in 2024[125] - Sales and marketing expenses rose by $7.5 million or 19%, totaling $46.5 million for the nine months ended September 30, 2025, compared to $39.0 million in 2024[124] Cash Flow and Liquidity - Cash and cash equivalents decreased to $161.3 million as of September 30, 2025, down from $205.0 million as of December 31, 2024[159] - Cash flows provided by operating activities for the nine months ended September 30, 2025, were $19.5 million, down from $35.3 million in the same period of 2024[174][176] - Cash flows used in investing activities amounted to $17.4 million for the nine months ended September 30, 2025, primarily due to $12.6 million in capitalized software investments[179] - Cash flows used in financing activities were $45.9 million for the nine months ended September 30, 2025, mainly from $38.1 million for stock repurchases[183] - The company reported a net decrease in cash and cash equivalents of $43.8 million for the nine months ended September 30, 2025, compared to a decrease of $1.8 million in 2024[174] - The company anticipates that existing cash, cash flow from operations, and undrawn credit facilities will be sufficient to meet cash requirements over the next 12 months[162] Stock and Shareholder Information - A stock repurchase program was authorized for up to $100 million, with $40.4 million remaining available as of September 30, 2025[169] - The company repurchased 3.0 million shares of Class A common stock for an aggregate amount of $37.9 million during the nine months ended September 30, 2025[169] - Non-GAAP earnings per share of Class A common stock for the three months ended September 30, 2025, was $0.06, compared to $0.09 for the same period in 2024[155] - The weighted-average shares of Class A common stock outstanding—basic for the three months ended September 30, 2025, was 16,331,000, compared to 16,290,000 for the same period in 2024[155] - The total shares excluded from earnings per share of Class A common stock—diluted for the three months ended September 30, 2025, was 45,755,000[155] Future Outlook and Investments - The company plans to invest in platform operations and technology to enhance product capabilities, which may impact near-term profitability[107] - The adoption of programmatic advertising is expected to continue growing, benefiting the company's market position[109] - Seasonal fluctuations in revenue are anticipated, with the fourth quarter typically reflecting the highest advertising activity[110] - The company plans to continue investing in critical areas to accelerate demand for its products and growth across the platform for the remainder of 2025[161] - The company has a shelf registration statement allowing it to offer up to $100 million in securities, providing flexibility for future capital needs[168] Tax and Compliance - The provision for income taxes was $541,000 for the three months ended September 30, 2025, compared to a benefit of $(14,000) in 2024, reflecting a significant change[120] - The total unrecorded liability for the Tax Receivable Agreement (TRA) is approximately $13.2 million as of September 30, 2025[166] - The company maintained compliance with all covenants under the Amended Loan Agreement as of September 30, 2025[171] Market and Risk Factors - There have been no material changes in the company's exposure to market risk during the nine months ended September 30, 2025[188]

Financial Performance - Viant Technology reported third quarter 2025 revenue of $85,582,000, a 7% increase from $79,922,000 in the same quarter of 2024[3] - Gross profit for the third quarter 2025 was $39,839,000, reflecting a 13% increase from $35,324,000 year-over-year[3] - Contribution ex-TAC reached $52,990,000, up 12% from $47,352,000 in the prior year[3] - Adjusted EBITDA for the third quarter was $16,029,000, a 9% increase compared to $14,675,000 in Q3 2024[3] - Revenue for Q3 2025 was $85,582 million, a 7.5% increase from $79,922 million in Q3 2024[18] - Adjusted EBITDA for Q3 2025 was $16,029,000, compared to $14,675,000 in Q3 2024, reflecting an increase in operational performance[37] - Contribution ex-TAC for Q3 2025 was $52,990,000, compared to $47,352,000 in Q3 2024, representing an increase of about 11.0%[34] - Non-GAAP net income for Q3 2025 was $11,205,000, a decrease of 9% from $12,283,000 in Q3 2024[3] - Non-GAAP net income for the three months ended September 30, 2025, was $11,205,000, compared to $12,283,000 in 2024, a decline of 8.8%[40] - Non-GAAP net income for the nine months ended September 30, 2025, was $22,004 million, compared to $20,892 million in 2024, reflecting an increase of about 5.3%[44] Operating Expenses - Total operating expenses for Q3 2025 were $81,351 million, an increase of 7.8% compared to $75,884 million in Q3 2024[18] - Non-GAAP operating expenses for the nine months ended September 30, 2025, were $234,693 million, compared to $201,606 million in the same period of 2024[18] - Stock-based compensation for Q3 2025 was $6,428 million, an increase from $5,329 million in Q3 2024[18] - Non-GAAP operating expenses for Q3 2025 were $36,961,000, up from $32,677,000 in Q3 2024, indicating an increase of approximately 13.9%[35] - Stock-based compensation for the three months ended September 30, 2025, was $6,428,000, up from $5,329,000 in 2024, an increase of 20.6%[40] - Stock-based compensation adjustments for the nine months ended September 30, 2025, amounted to $18,410 million, up from $15,306 million in 2024, an increase of approximately 20.5%[44] - Transaction expenses for the nine months ended September 30, 2025, were $667 million, compared to $384 million in 2024, reflecting an increase of about 74%[44] Cash Flow and Assets - Cash and cash equivalents decreased to $161,286 million as of September 30, 2025, from $205,048 million at the end of 2024[20] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $19,531 million, down from $35,276 million in the same period of 2024[22] - Total assets decreased to $395,886 million as of September 30, 2025, from $440,804 million at the end of 2024[20] - Total liabilities decreased to $137,476 million as of September 30, 2025, from $166,729 million at the end of 2024[20] Shareholder Information - The company repurchased 4.8 million shares of Class A common stock for a total of $59.6 million from May 1, 2024, to November 7, 2025[9] - Basic earnings per share of Class A common stock was $0.06 for Q3 2025, down from $0.09 in Q3 2024[18] - Basic earnings per share for Class A common stock was $0.01 for the nine months ended September 30, 2025, down from $0.26 in 2024, indicating a decrease of approximately 96.2%[44] - Diluted earnings per share for Class A common stock was $0.00 for the nine months ended September 30, 2025, compared to $0.23 in 2024, a decline of about 100%[44] - The weighted-average shares of Class A common stock outstanding—basic increased slightly from 16,240 million in 2024 to 16,255 million in 2025[44] Future Outlook - The company expects fourth quarter 2025 revenue to be in the range of $101.5 million to $104.5 million, with contribution ex-TAC projected between $62.0 million and $64.0 million[10] - Viant anticipates adjusted EBITDA for Q4 2025 to be between $22.5 million and $23.5 million, indicating continued growth momentum[10] - The company plans to continue evaluating its operational performance and trends to develop future operational plans and capital allocation strategies[27] - Viant has signed a multi-year partnership with Molson Coors Beverage Company to power their programmatic ad campaigns starting in 2026[4] Market Performance - CTV advertiser spend accounted for 46% of total ad spend on the platform, marking a record high for Viant[4]

Core Insights - Viant Technology Inc. is a key player in the connected TV and AI-powered programmatic advertising sector, with upcoming quarterly earnings expected on November 10, 2025, projecting an EPS of $0.13 and revenue of approximately $85.5 million [1][4] Financial Metrics - The company's price-to-earnings (P/E) ratio stands at 58.44, indicating strong investor confidence in future growth potential, while the price-to-sales ratio of 0.44 suggests potential undervaluation in terms of sales [2] - DSP faces financial challenges, as evidenced by a negative enterprise value to sales ratio of -0.03 and an enterprise value to operating cash flow ratio of -0.19, indicating that liabilities exceed market capitalization and cash [2] - Despite these challenges, DSP maintains a strong liquidity position with a current ratio of 2.56, indicating more than twice the current assets compared to current liabilities, and a debt-to-equity ratio of 0.86, reflecting a moderate level of leverage [3] Investor Engagement - DSP's participation in investor conferences, such as Seaport's 3rd Virtual TMT Conference and Wells Fargo's 9th Annual TMT Summit, underscores its commitment to transparency and strategic communication with investors [2][4]

Core Insights - Viant has announced a multi-year partnership with Molson Coors Beverage Company, designating Viant as the Advertising Platform starting in 2026 [1] Company Summary - The partnership signifies a strategic move for Viant in the advertising technology sector, enhancing its position within the beverage industry [1] - Molson Coors Beverage Company is set to leverage Viant's advertising platform to optimize its marketing efforts [1]

Core Viewpoint - Viant Technology Inc. will release its third quarter 2025 financial results on November 10, 2025, followed by a conference call to discuss business and financial performance [1][2]. Company Overview - Viant Technology Inc. is a leader in CTV and AI-powered programmatic advertising, focusing on innovation in digital marketing [3]. - The company offers an omnichannel platform designed for CTV, enabling marketers to plan, execute, and measure campaigns with high precision and efficiency [3]. - Viant has launched ViantAI, aiming to create fully autonomous advertising solutions to help advertisers achieve their goals [3]. - The company has received multiple awards, including Best AI-Powered Advertising Solution and Best Demand-Side Platform by MarTech Breakthrough, and the AI Excellence Award from the Business Intelligence Group [3]. Upcoming Events - Viant's management team is scheduled to participate in several upcoming investor conferences, including: - Benchmark Tech, Media & Telecom Conference on September 4, 2025, in New York, NY - Piper Sandler Growth Frontiers Conference on September 10, 2025, in Nashville, TN - Wolfe Research TMT Conference on September 11, 2025, in San Francisco, CA [5][7].

Core Insights - Viant Technology Inc. has expanded its partnership with Tubi, enhancing advertisers' ability to reach addressable audiences with improved accuracy and scale through a new ID sync [2][4][5] Group 1: Partnership Details - The partnership allows advertisers to access over 100 million monthly active users and more than 300,000 movies and TV episodes on Tubi, leveraging Viant's capabilities in CTV and programmatic advertising [2][4] - Tubi's extensive AVOD reach combined with Viant's identity and measurement tools provides advertisers with greater transparency and performance [3][5] Group 2: Technological Enhancements - Viant's acquisition of IRIS.TV enables contextual and emotional targeting, enhancing the precision of advertising campaigns on Tubi [4][6] - The integration of IRIS_ID with Tubi's content allows for programmatic buying and measurement of video-level contextual and emotional data, driving stronger outcomes for advertisers [4][6] Group 3: Market Positioning - The collaboration exemplifies Viant's Direct Access program, which streamlines connections between advertisers and major streaming platforms, reducing reliance on intermediaries [5][6] - This partnership positions Viant as a leader in the evolving landscape of addressable advertising in CTV, catering to the growing demand for measurable advertising solutions [6]

Core Insights - Viant Technology Inc. is identified as a promising tech stock under $10, with a Buy rating and a price target of $15 reaffirmed by analyst Tom White from D.A. Davidson [1][2] - The company reported a significant 18% year-over-year revenue growth in Q2 2025, reaching $77.9 million, primarily driven by its Connected TV (CTV) business [2] - Despite a 15% stock correction since the initiation of coverage, leading to a 55% year-to-date decline, concerns about sustainable profitable growth due to competition and macroeconomic factors persist [3] Financial Performance - Viant has guided Q3 revenue to be between $83.5 million and $86.5 million, indicating a 6% year-over-year growth [4] - Expected EBITDA for Q3 is projected to be between $14.0 million and $15.0 million, suggesting a flat to slight decline year-over-year, which is below market expectations due to the loss of a significant advertiser client [4] Company Overview - Viant Technology Inc. operates as an advertising technology company, offering a cloud-based demand-side platform that assists marketers in planning, buying, and measuring digital media across various channels [5]

Core Insights - Shares of Viant (NASDAQ: DSP) have dropped over 30% since the release of Q2 results, indicating significant market reaction to the company's performance [1] - Temporary headwinds have led to a notable deceleration in growth expectations for Q3, raising concerns similar to those faced by larger competitor The Trade Desk [1] Company Performance - The decline in Viant's stock price reflects investor sentiment and market conditions following the Q2 results [1] - The company is experiencing challenges that are impacting its growth trajectory, which may affect future performance [1] Market Context - Viant's situation mirrors that of its larger competitor, The Trade Desk, suggesting broader industry challenges that could affect multiple players in the digital advertising space [1]

Core Insights - Viant's shares have dropped over 30% since the release of Q2 results, indicating significant market reaction to the company's performance [1] - Growth expectations for Q3 have notably decelerated due to temporary headwinds, which poses a risk similar to that faced by larger competitor The Trade Desk [1] Company Performance - The decline in Viant's stock price reflects investor concerns regarding its growth trajectory following the Q2 results [1] - The company is experiencing challenges that have led to a reassessment of its growth potential for the upcoming quarter [1] Market Context - Viant's situation mirrors that of The Trade Desk, suggesting broader industry challenges that may affect similar companies [1]