Financial Data and Key Metrics Changes - In Q4 2024, revenue reached $90.1 million, a 40% increase year-over-year, exceeding guidance by 6% [63] - Contribution ex-TAC for Q4 totaled $54.4 million, up 28% year-over-year, and 3% above guidance [64] - For the full year 2024, revenue totaled $289.2 million, a 30% increase over 2023, with adjusted EBITDA rising to $44.4 million, up 53% year-over-year [60][61] Business Line Data and Key Metrics Changes - CTV ad spend increased over 40% in 2024, accounting for over 40% of total ad spend on the platform [14][68] - The number of customers generating significant levels of contribution ex-TAC increased by 42% year-over-year [65] - Direct access CTV ad spend increased nearly 70% in 2024, representing over 50% of total CTV ad spend on the platform [47] Market Data and Key Metrics Changes - CTV accounted for over 40% of ad spend on the platform, with a notable increase in demand for addressability and measurable insights [14][18] - Political spending contributed just over 3% of total contribution ex-TAC in Q4, consistent with previous quarters [67] - The overall market for programmatic advertising is projected to grow approximately 13 to 14% in 2025 [78] Company Strategy and Development Direction - The company is focused on enhancing its CTV targeting and measurement capabilities through acquisitions like Iris TV and Locker [79] - Viant aims to leverage AI technology to improve advertising efficiency and effectiveness, with plans to roll out AI measurement and analysis in Q2 2025 [33][82] - The strategy includes positioning itself as a leader in addressability and measurement across all channels of the open Internet [22][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth driven by CTV proliferation, leadership in addressability, and AI innovation [12][38] - The company anticipates that the shift of ad spend from linear TV to CTV will accelerate, with a total addressable market for CTV expected to grow significantly [44] - Management highlighted the importance of enabling publishers to utilize their first-party data effectively in the advertising ecosystem [92] Other Important Information - The company ended Q4 with over $205 million in cash and cash equivalents, with no debt [73] - The acquisition of Locker is expected to enhance the company's identity and addressability solutions, contributing to long-term growth [25][79] - The company has a share repurchase program in place, having purchased 2 million shares of Class A common stock [75] Q&A Session Summary Question: Can you explain the logic behind the Locker acquisition? - Management explained that Locker reduces friction in integrating household ID with publisher identity, making it easier for publishers to utilize their first-party data [87][92] Question: How much revenue did Iris contribute in the quarter? - Management indicated that Iris contributed about 1% of total revenue in the quarter [100] Question: What is the strategic fit of the Locker acquisition? - Management stated that Locker is primarily aimed at accelerating the adoption of household ID and Iris ID while serving as a utility for the open Internet [105] Question: How has the market been performing post-election? - Management noted that there is a mixed bag in the market, with significant exposure to display advertising being a weakness, but overall, they experienced strong performance [114][116] Question: What are the expectations for scaling Viant AI in 2025? - Management highlighted that Viant AI is expected to increase wallet share and attract new customers due to its efficiency in planning and executing campaigns [130]

Core Insights - Viant Technology reported quarterly earnings of $0.15 per share, missing the Zacks Consensus Estimate of $0.23 per share, representing an earnings surprise of -34.78% [1] - The company posted revenues of $54.36 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 3.94%, compared to year-ago revenues of $42.6 million [2] - Viant shares have increased approximately 5.3% since the beginning of the year, outperforming the S&P 500's gain of 1.2% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.03 on revenues of $41 million, and for the current fiscal year, it is $0.68 on revenues of $206.4 million [7] - The estimate revisions trend for Viant is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Technology Services industry, to which Viant belongs, is currently ranked in the top 31% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Advertising Market Growth - U.S. programmatic advertising is expected to grow at a 14% CAGR from 2023 to 2026, reaching $202.1 billion by 2026, representing 44% of total U.S. media spend[33]. - The U.S. CTV advertising market is forecasted to grow from $33 billion in 2025 to $42 billion in 2027, a 12% CAGR[46]. - The total global advertising market is projected to grow from $1.0 trillion in 2025 to $1.2 trillion in 2028, an 8% CAGR[37]. Product and Technology Innovations - The ViantAI product suite launched in 2024 aims to create a fully autonomous advertising experience, optimizing campaign management and execution[40]. - The Viant Data Platform integrates first-party data with third-party data, providing actionable insights and reporting opportunities[45]. - The Household ID™ (HHID) technology enables accurate reach and frequency management across channels, including cookieless environments[43]. - The self-service platform allows customers to manage ad campaigns efficiently, contributing to strong operating leverage as customer usage increases[51]. - Advanced reporting capabilities provide real-time insights, including conversion lift and multi-touch attribution analytics, enhancing campaign effectiveness[48]. - The advertising market is shifting from linear TV to CTV, with a focus on identity-based capabilities for better targeting and privacy compliance[51]. - The platform provides exclusive access to Household ID (HHID), enabling effective advertising in cookieless environments across CTV and mobile applications[54]. - The company integrates with over 70 data providers, allowing extensive audience data mapping based on purchase behaviors, location, and TV viewership insights[58]. - The platform features advanced reporting capabilities, linking advertising spend to both online and offline sales, enhancing measurement accuracy[57]. - The ViantAI suite includes AI Planning and AI Bidding, optimizing campaign performance and costs, with future enhancements planned for AI Measurement and Analysis[59]. Financial and Operational Strategy - The company plans to invest in acquisitions to expand product offerings and capitalize on market opportunities[51]. - The company expects technology and development expenses to increase as it invests in platform enhancements and additional advertising integrations[59]. - The sales strategy focuses on direct sales and consultative approaches, with a formal certification program to educate clients on platform capabilities[65]. - The platform offers flexible pricing options, including a percentage of spend and fixed cost per mille (CPM) options, catering to diverse customer needs[66]. Workforce and Culture - The company emphasizes a culture of inclusion and employee development, conducting annual surveys to gather feedback and drive new initiatives[76]. - As of December 31, 2024, the company had approximately 376 employees across 10 offices in North America, reflecting a diverse workforce[75]. - The company had approximately 376 employees across 10 offices in the United States by the end of 2024[86]. Competitive Landscape - The competitive landscape includes major players like The Trade Desk and Google, with the company differentiating itself through advanced reporting and identity resolution capabilities[73]. - The company has transformed from a full-service digital advertising provider to a leading Demand-Side Platform (DSP) since acquiring Adelphic in 2017[86]. Sustainability Initiatives - The company achieved carbon neutrality for known and measurable emissions by the end of 2023 through strategic collaborations and purchasing carbon offsets[81]. - The company offers a customer carbon reduction program called Adtricity to help partners reduce their GHG emissions based on their media spend[82]. - The company has joined Ad Net Zero and the IAB Tech Lab - Sustainability Working Group to promote sustainability initiatives in the advertising industry[82]. - The company has a commitment to finalize emissions metrics for 2024 and expects to purchase sufficient environmental attributes to address its emissions once calculated[81]. Regulatory and Financial Position - The company is classified as an Emerging Growth Company (EGC) and may take advantage of exemptions from various reporting requirements until it ceases to be an EGC[88]. - The company has no outstanding balances on its revolving credit facility as of December 31, 2024, indicating no market risk from interest rate changes[437]. - The company has not used any derivative financial instruments to manage interest rate risk exposure[437]. - As of December 31, 2024, the company held 57 issued patents, 21 pending patent applications, and 300 issued trademarks, with patents expiring between 2025 and 2041[84].

Financial Performance - Fourth quarter 2024 revenue reached $90.054 million, a 40% increase year-over-year, while full year revenue was $289.235 million, up 30% from 2023[3] - Contribution ex-TAC for Q4 2024 was $54.359 million, reflecting a 28% growth year-over-year, and for the full year, it was $177.390 million, a 24% increase[3] - Adjusted EBITDA for Q4 2024 was $17.091 million, a 31% increase year-over-year, and for the full year, it was $44.441 million, up 53% from 2023[3] - Net income for Q4 2024 was $7.720 million, a 133% increase year-over-year, while the full year net income was $12.452 million, compared to a net loss of $9.943 million in 2023[3] - Revenue for Q4 2024 reached $90.054 million, a 39.6% increase from $64.406 million in Q4 2023[19] - Net income attributable to Viant Technology Inc. was $1.747 million in Q4 2024, compared to $626,000 in Q4 2023, marking a significant improvement[19] - Non-GAAP net income for the three months ended December 31, 2024, was $13,831,000, compared to $10,845,000 in 2023, indicating a year-over-year increase of 28%[40] - The company reported a net income (loss) of $12,452,000 for the year ended December 31, 2024, compared to a loss of $(9,943,000) in 2023[38] - For the year ended December 31, 2024, the net income is $12,452,000 compared to a net loss of $9,943,000 for the year ended December 31, 2023[42] - Non-GAAP net income for 2024 is $34,661,000, while for 2023 it was $21,743,000, representing a significant increase[42] Operational Metrics - Cash flow from operations increased by 37% to $51.8 million for FY 2024[10] - Total operating expenses for Q4 2024 were $84.151 million, up from $63.524 million in Q4 2023, reflecting a 32.5% increase[19] - Total operating expenses for the year ended December 31, 2024, were $285,757,000, compared to $241,230,000 in 2023, reflecting an increase of 18%[36] - The company reported a net cash provided by operating activities of $51.767 million for the year ended December 31, 2024, compared to $37.752 million in 2023[23] Shareholder Actions - The company repurchased 2.0 million shares of Class A common stock for a total of $25.7 million, with $24.3 million remaining for future repurchases[10] - Basic earnings per share for 2024 is $0.15, up from a loss of $0.23 in 2023, indicating a positive turnaround[42] - Diluted earnings per share for 2024 is $0.14, compared to a loss of $0.23 in 2023, reflecting improved financial performance[42] - Earnings per share (diluted) increased to $0.10 in Q4 2024 from $0.14 in Q4 2023, a decrease of 29%[44] Assets and Liabilities - Cash and cash equivalents decreased to $205.048 million as of December 31, 2024, from $216.458 million at the end of 2023[21] - Accounts receivable increased to $146.951 million in 2024, compared to $117.473 million in 2023, indicating a 25.1% rise[21] - Total assets increased to $440.804 million in 2024, up from $404.911 million in 2023, representing an increase of 8.8%[21] Acquisitions and Partnerships - Viant completed the acquisition of Lockr in February 2025, enhancing its data collaboration capabilities[10] - The company achieved a 95% match rate for Household ID technology by expanding its partnership with TransUnion[10] Stock-Based Compensation - Stock-based compensation for the year ended December 31, 2024, was $21.034 million, down from $32.291 million in 2023, indicating a reduction of 34.8%[23] - The company reported stock-based compensation adjustments of $5,728 million for Q4 2024, compared to $7,556 million in Q4 2023, indicating a 24% reduction[44] Transaction Expenses - The company incurred transaction expenses of $1,742,000 related to recent acquisitions for the year ended December 31, 2024[37] - The company incurred transaction expenses of $1,358 million related to recent acquisitions in Q4 2024[44] Taxation - The estimated income tax effect for 2024 is calculated using a blended tax rate of 25%, compared to 21% for 2023[43] - The estimated income tax effect of the company's share of income (loss) was calculated using a blended tax rate of 25% for Q4 2024, compared to 21% for Q4 2023[45] Other Charges - Restructuring and other charges for 2024 were $467,000, slightly up from $465,000 in 2023[42] - Non-operational media purchases for 2024 totaled $1,271,000, with no such costs reported for 2023[42]

Group 1 - Viant Technology (DSP) is a notable stock within the Business Services sector, which consists of 288 companies and currently ranks 8 in the Zacks Sector Rank [2][3] - The Zacks Rank system, which focuses on earnings estimates and revisions, currently rates Viant Technology as 2 (Buy), indicating a positive outlook for the stock [3] - Year-to-date, Viant Technology has achieved a return of approximately 36.7%, significantly outperforming the Business Services sector average return of 10.8% [4] Group 2 - Viant Technology is part of the Technology Services industry, which includes 152 stocks and ranks 77 in the Zacks Industry Rank, with an average gain of 22.7% this year [6] - Another stock in the Business Services sector, Futu Holdings Limited Sponsored ADR (FUTU), has also shown strong performance with a year-to-date return of 44.8% [4] - Both Viant Technology and Futu Holdings Limited Sponsored ADR are expected to continue their solid performance, making them attractive options for investors in the Business Services sector [7]

Company Overview - Viant Technology (DSP) shares increased by 7.3% to $20.56, with a higher-than-average trading volume, contrasting with a 0.4% loss over the past four weeks [1] - The company is focusing on innovation and investments in programmatic advertising, especially in connected TV and streaming audio [1] Earnings Expectations - Viant is expected to report quarterly earnings of $0.23 per share, reflecting a year-over-year increase of 64.3% [2] - Revenue projections stand at $52.3 million, which is a 22.8% increase compared to the same quarter last year [2] Stock Performance Insights - The consensus EPS estimate for Viant has remained stable over the last 30 days, indicating that stock price movements may not sustain without earnings estimate revisions [3] - Viant holds a Zacks Rank of 3 (Hold), suggesting a neutral outlook [3] Industry Comparison - Viant operates within the Zacks Technology Services industry, where another company, Ivanhoe Electric (IE), saw a 1.9% decline in its stock price, closing at $6.58 [3] - Ivanhoe Electric's EPS estimate for the upcoming report is -$0.25, showing a year-over-year change of 34.2%, and it holds a Zacks Rank of 2 (Buy) [4]

Financial Data and Key Metrics - Revenue for Q3 2024 was $79.9 million, a 34% increase year-over-year and 21% sequentially, exceeding guidance [56] - Contribution ex-TAC grew 21% year-over-year to $47.4 million, marking the fifth consecutive quarter of 20%+ growth [58][59] - Adjusted EBITDA reached a record $14.7 million, up 52% year-over-year, with a margin of 31% of contribution ex-TAC [64][65] - GAAP net income was $6.5 million, compared to a loss of $672,000 in the prior year period [66] - Non-GAAP net income increased 61% year-over-year to $12.3 million [67] - CTV spend grew nearly 50% year-over-year, representing over 40% of total platform spend [61][52] Business Line Performance - CTV and Streaming Audio together accounted for approximately 50% of platform spend in Q3, with CTV spend up nearly 50% year-over-year [30][52] - ViantAI, particularly AI Bidding, drove significant incremental revenue, with revenue and contribution ex-TAC growing 35% quarter-over-quarter [53] - Direct Access program saw strong adoption, with over half of CTV spend coming through this channel [32] Market Performance - CTV remains a cornerstone of growth, with spend accelerating to nearly 50% year-over-year growth in Q3 [61] - Streaming Audio also showed strong double-digit growth, contributing to the overall platform spend [52] - Healthcare, consumer goods, travel, and automotive were the fastest-growing verticals in Q3 [60] Strategic Direction and Industry Competition - The acquisition of IRIS.TV enhances Viant's CTV targeting and measurement capabilities, positioning the company to lead in the intersection of CTV, AI, and adtech [23][26] - ViantAI is transforming programmatic ad buying, enabling advertisers to plan and execute campaigns more efficiently and effectively [14][15] - The company aims to democratize programmatic advertising, making it accessible to small and mid-sized businesses [20][21] Management Commentary on Operating Environment and Future Outlook - Management highlighted the strong demand for ViantAI and the positive reception from customers, which is driving platform spend and market share gains [29][47] - The company expects continued growth in CTV and Streaming Audio, with CTV becoming an increasingly critical channel for advertisers [34][35] - Viant is well-positioned to capitalize on the shift from linear TV to CTV and the growing adoption of programmatic advertising [28][29] Other Important Information - The company repurchased 1.4 million shares of Class A common stock for $14.2 million under its share repurchase program [69] - Viant ended the quarter with $214.6 million in cash and cash equivalents and no debt [68] - Q4 2024 guidance includes revenue of $82 million to $85 million, representing 30% year-over-year growth, and contribution ex-TAC of $51 million to $53 million, up 22% year-over-year [69][70] Q&A Session Summary Question: Why is the company in the fixed-price business if 95% of revenue is a contra account? - The fixed-price model is used to onboard new customers, which shortens the sales cycle and helps transition them to a percent-of-spend model [77][78] Question: What are the key growth drivers for Viant? - Growth is driven by existing customers scaling their spend, particularly in CTV, new customer acquisitions, and the adoption of ViantAI [80] Question: How does IRIS.TV enhance Viant's CTV offering? - IRIS.TV provides contextual relevance and targeting sophistication through its IRIS_ID, enabling advertisers to target specific video content and improve ROI [83][84] Question: Can IRIS.TV's contextual signals enhance ViantAI's bidding capabilities? - Yes, the contextual data from IRIS.TV can improve bidding strategies by providing deeper insights into video content, allowing advertisers to bid more effectively [87][88] Question: How does Viant plan to serve smaller advertisers? - ViantAI is designed to make programmatic advertising more accessible to small and mid-sized businesses through automation and ease of use [90][91] Question: How does Viant expect to outgrow the broader digital advertising market? - Viant's focus on CTV, innovative products like ViantAI, and the acquisition of IRIS.TV position the company to grow above market rates, particularly in CTV [95][96] Question: What was the impact of political advertising in Q3? - Political advertising slightly exceeded expectations, contributing 2%-3% of contribution ex-TAC, with no significant pullback from other advertisers [99][100]

Group 1 - Viant Technology reported quarterly earnings of $0.15 per share, exceeding the Zacks Consensus Estimate of $0.14 per share, and up from $0.08 per share a year ago, representing an earnings surprise of 7.14% [1] - The company achieved revenues of $47.35 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 4.99%, and up from $39.1 million year-over-year [2] - Viant has outperformed the S&P 500, with shares increasing approximately 97.7% since the beginning of the year compared to the S&P 500's gain of 25.8% [3] Group 2 - The current consensus EPS estimate for the upcoming quarter is $0.23 on revenues of $52 million, and for the current fiscal year, it is $0.46 on revenues of $172.8 million [7] - The Zacks Industry Rank indicates that the Technology Services sector is in the top 26% of over 250 Zacks industries, suggesting a favorable outlook for stocks in this sector [8] Group 3 - The estimate revisions trend for Viant is mixed, resulting in a Zacks Rank 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [6] - Full Truck Alliance Co. Ltd., another company in the same industry, is expected to report quarterly earnings of $0.15 per share, reflecting a year-over-year increase of 36.4% [9]

Financial Performance - Revenue for Q3 2024 was $79.9 million, a 34.1% increase from $59.6 million in Q3 2023[80] - Gross profit for Q3 2024 was $35.3 million, representing a 23.4% increase from $28.6 million in Q3 2023[80] - Net income for Q3 2024 was $6.5 million, an improvement of 1,061.0% compared to a net loss of $0.7 million in Q3 2023[80] - Non-GAAP net income for Q3 2024 was $12.3 million, a 61.4% increase from $7.6 million in Q3 2023[80] - Adjusted EBITDA for Q3 2024 was $14.7 million, representing a 51.8% increase from $9.7 million in Q3 2023[81] - Revenue for the nine months ended September 30, 2024, was $199.2 million, a 25.6% increase from $158.5 million in the same period of 2023[81] - Net income for the nine months ended September 30, 2024, was $4.7 million, a significant improvement compared to a net loss of $13.3 million in the same period of 2023[112] - Adjusted EBITDA for the nine months ended September 30, 2024, was $27.4 million, representing a 70% increase compared to $16.1 million in the same period of 2023[112] - Non-GAAP net income for the nine months ended September 30, 2024, was $20.9 million, a 93% increase from $10.8 million in the same period of 2023[112] - Earnings per share (diluted) for the nine months ended September 30, 2024, was $0.04, compared to a loss of $0.27 in the same period of 2023, marking a 115% improvement[112] Expenses and Cost Management - Operating expenses as a percentage of revenue decreased to 95% in Q3 2024 from 105% in Q3 2023[91] - Platform operations expenses increased by $13.6 million or 44% in Q3 2024, primarily due to a $12.1 million increase in traffic acquisition costs[96] - Sales and marketing expenses decreased by $1.1 million or 8% in Q3 2024, attributed to a reduction in stock-based compensation and advertising expenses[97] - Technology and development expenses decreased by $0.5 million or 8% in Q3 2024, mainly due to a reduction in stock-based compensation[98] - General and administrative expenses increased by $1.5 million or 14% in Q3 2024, driven by higher personnel and bad debt expenses[99] - Total operating expenses for the nine months ended September 30, 2024, were $201,606,000, an increase from $177,706,000 in the same period of 2023[118] Strategic Initiatives - ViantAI, launched in September 2024, is expected to enhance the efficiency of programmatic advertising and expand market share[80] - The company plans to invest in platform operations and technology to enhance product capabilities, which may impact short-term profitability[85] - The company plans to continue focusing on core operations and evaluating strategic decisions based on adjusted EBITDA metrics[121] - The company plans to continue investing in critical areas of its business to accelerate demand for its products and growth across the platform[140] - The company plans to continue focusing on strategic performance goals and aligning workforce adjustments as part of its restructuring efforts[126] Cash Flow and Liquidity - Cash flows provided by operating activities for the nine months ended September 30, 2024, were $35.3 million, a net increase of $20.8 million, or 143%, from $14.5 million for the same period in 2023[149] - Cash flows used in investing activities for the nine months ended September 30, 2024, were $13.4 million, a net increase of $3.8 million, or 39%, from $9.7 million for the same period in 2023[150] - Cash flows used in financing activities for the nine months ended September 30, 2024, were $23.7 million, a net increase of $15.3 million, or 182%, from $8.4 million for the same period in 2023[152] - The company experienced a net decrease of $1.8 million in cash and cash equivalents for the nine months ended September 30, 2024, compared to a decrease of $3.6 million for the same period in 2023[148] - The company expects seasonality to impact cash flows from operating activities on a quarterly basis[149] Shareholder Returns and Capital Structure - The company has a stock repurchase program authorized for up to $50 million, with $38.5 million remaining available as of September 30, 2024[145] - The company repurchased 1.1 million shares of Class A common stock for an aggregate amount of $11.6 million during the nine months ended September 30, 2024[145] - The Amended Loan Agreement provides access to a $75 million senior secured revolving credit facility, with no outstanding balance as of September 30, 2024[146] Market Trends and Industry Outlook - The advertising industry is expected to experience seasonal fluctuations, with the fourth quarter typically reflecting the highest revenue levels[88] - The company experienced a 154% increase in revenue from marketers in the political, automotive, travel, and consumer goods industry verticals during Q3 2024[94]

Financial Performance - Third quarter 2024 revenue reached $79.9 million, a 34% increase year-over-year from $59.6 million[3] - Gross profit for the third quarter was $35.3 million, up 23% from $28.6 million in the same period last year[3] - Net income for the quarter was $6.5 million, compared to a net loss of $0.7 million in Q3 2023, representing a 1,061% improvement[3] - Contribution ex-TAC grew to $47.4 million, a 21% increase from $39.1 million year-over-year[3] - Adjusted EBITDA for the quarter was $14.7 million, reflecting a 52% increase from $9.7 million in Q3 2023[3] - Revenue for the three months ended September 30, 2024, was $79,922,000, representing a 34.2% increase from $59,585,000 in the same period of 2023[14] - Net income attributable to Viant Technology Inc. for the three months ended September 30, 2024, was $1,507,000, compared to a loss of $526,000 in the same period of 2023[14] - Adjusted EBITDA for Q3 2024 was $14.7 million, compared to $9.7 million in Q3 2023, representing a 51.7% increase[22] - Non-GAAP net income for Q3 2024 was $11.8 million, compared to a non-GAAP net loss of $0.5 million in Q3 2023[19] - Basic non-GAAP earnings per share for Q3 2024 was $0.18, compared to a loss per share of $0.01 in Q3 2023[19] Operational Metrics - CTV spend increased nearly 50% year-over-year, driven by the Direct Access program and Household ID technology[4] - Total operating expenses for the three months ended September 30, 2024, were $75,884,000, up from $62,404,000 in the same period of 2023, reflecting a 21.6% increase[14] - Traffic acquisition costs (TAC) for Q3 2024 were $32.6 million, an increase of 59.2% from $20.5 million in Q3 2023[21] - Non-GAAP operating expenses for Q3 2024 were $32.7 million, a 10.4% increase from $29.4 million in Q3 2023[21] - Total operating expenses for Q3 2024 were $75.9 million, up 21.6% from $62.4 million in Q3 2023[21] Future Outlook - For Q4 2024, the company expects revenue between $82 million and $85 million, and adjusted EBITDA between $16 million and $17 million[6] - The company plans to continue focusing on operational efficiency and strategic investments to drive future growth[19] Cash and Assets - As of September 30, 2024, cash and cash equivalents totaled $214.6 million[3] - Cash and cash equivalents as of September 30, 2024, were $214,632,000, slightly down from $216,458,000 as of December 31, 2023[16] - Total assets increased to $429,741,000 as of September 30, 2024, compared to $404,911,000 as of December 31, 2023[16] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $35,276,000, compared to $14,503,000 for the same period in 2023[17] Stock and Compensation - Stock-based compensation for the three months ended September 30, 2024, was $5,329,000, down from $8,734,000 in the same period of 2023[15] - The weighted-average shares of Class A common stock outstanding—diluted for the three months ended September 30, 2024, was 19,993,000, compared to 15,388,000 for the same period in 2023[27] - Stock-based compensation for the three months ended September 30, 2024, was $5,329,000, compared to $8,734,000 for the same period in 2023, showing a decrease of 39.5%[24] Acquisitions and Innovations - The company launched ViantAI, a fully autonomous advertising software platform, enhancing its offerings in programmatic advertising[4] - Viant completed the acquisition of IRIS.TV, which will enhance its CTV targeting and measurement capabilities[4] Tax and Non-Operational Items - The estimated income tax effect of non-GAAP pre-tax income for the three months ended September 30, 2024, was calculated using a blended tax rate of 24%[29] - The company incurred non-operational media purchases of $1,271,000 for the three months ended September 30, 2024[24] - Non-operational media purchases for the nine months ended September 30, 2024, included costs for one-time and non-operating supplier purchases[32]