Viant(US:DSP)2025-11-10 21:31Financial 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]