Viant(DSP) - 2025 Q1 - Quarterly Results

Financial Performance - Revenue for Q1 2025 reached $70,642,000, representing a 32% increase year-over-year from $53,393,000[2] - Gross profit for Q1 2025 was $30,562,000, a 30% increase compared to $23,513,000 in Q1 2024[2] - Contribution ex-TAC grew by 25% year-over-year, totaling $42,729,000 in Q1 2025[2] - Adjusted EBITDA for Q1 2025 was $5,402,000, reflecting a 76% increase from $3,075,000 in Q1 2024[2] - Non-GAAP net income for Q1 2025 was $2,816,000, a 109% increase from $1,348,000 in Q1 2024[2] - Revenue for Q1 2025 was $70,642,000, a 32.3% increase from $53,393,000 in Q1 2024[33] - Gross profit for Q1 2025 was $30,562,000, up 30% from $23,513,000 in Q1 2024[33] - Contribution ex-TAC for Q1 2025 reached $42,729,000, representing a 25.3% increase from $34,121,000 in Q1 2024[33] - Adjusted EBITDA for Q1 2025 was $5,402,000, a 75.5% increase from $3,075,000 in Q1 2024[35] - Non-GAAP net income for Q1 2025 was $2,816,000, compared to $1,348,000 in Q1 2024[37] Shareholder Returns - The company repurchased 1.8 million shares year-to-date, deploying $24.9 million through its buyback program[4] - The company increased its share repurchase authorization by $50 million, demonstrating commitment to shareholder returns[1] - The company repurchased $17,025 thousand in stock related to the stock repurchase program during the three months ended March 31, 2025[21] Future Guidance - For Q2 2025, the company expects revenue in the range of $77.0 million to $80.0 million[10] - The adjusted EBITDA guidance for Q2 2025 is projected to be between $10.5 million and $11.5 million[10] Assets and Liabilities - Total current assets decreased from $362,489 thousand as of December 31, 2024, to $315,762 thousand as of March 31, 2025, representing a decline of approximately 12.9%[19] - Total assets decreased from $440,804 thousand as of December 31, 2024, to $394,515 thousand as of March 31, 2025, a reduction of about 10.5%[19] - Total current liabilities decreased from $145,451 thousand as of December 31, 2024, to $116,722 thousand as of March 31, 2025, a decrease of approximately 19.8%[19] Net Loss and Operating Expenses - Net loss for the three months ended March 31, 2025, was $3,307 thousand, compared to a net loss of $3,214 thousand for the same period in 2024, indicating a slight increase in losses[21] - Total operating expenses for Q1 2025 were $75,501,000, a 27.8% increase compared to $59,085,000 in Q1 2024[34] - Non-GAAP operating expenses for Q1 2025 were $37,327,000, up 20.2% from $31,046,000 in Q1 2024[34] - Net loss for Q1 2025 was $3,307,000, slightly higher than the net loss of $3,214,000 in Q1 2024[35] - Net loss as a percentage of gross profit improved to 11% in Q1 2025 from 14% in Q1 2024[36] Key Performance Metrics - Adjusted EBITDA is a key measure used by management to evaluate core operating performance and trends, although specific figures for adjusted EBITDA were not provided in the documents[25] - Contribution ex-TAC is a key profitability measure used by management to understand operating performance, although specific figures were not disclosed in the documents[23] - Non-GAAP earnings per share of Class A common stock is adjusted to eliminate the impact of stock-based compensation and other non-core items, aiding in the evaluation of operational performance[29] - Adjusted EBITDA as a percentage of contribution ex-TAC increased to 13% in Q1 2025 from 9% in Q1 2024[36]