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]