Viant(DSP) - 2024 Q4 - Annual Results

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]