Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $70.6 million, representing a 32% year-over-year increase and exceeding guidance by 4% [36] - Contribution ex TAC totaled $42.7 million, up 25% year-over-year, marking the seventh consecutive quarter of over 20% growth [36][38] - Adjusted EBITDA increased 76% year-over-year to $5.4 million, exceeding guidance by more than 27% [40] - Non-GAAP net income was $2.8 million, up 109% from the prior year [41] Business Line Data and Key Metrics Changes - CTV accounted for over 45% of total platform spend, the highest mix on record, reflecting strong growth in this segment [38] - Ad spend linked to Household ID surged 33% year-over-year, indicating strong demand for addressability solutions [14] - The share of emerging digital channels, including CTV, streaming audio, and digital out of home, represented 54% of total platform spend, the highest in history [39] Market Data and Key Metrics Changes - The advertising environment showed resilience, with year-over-year growth rates for revenue and contribution ex TAC increasing each month in Q1 2025 [6][7] - The company serves over 1,000 advertisers, with no single advertiser representing more than 5% of total ad spend, indicating a diversified customer base [8] Company Strategy and Development Direction - The company aims to strengthen its position as the premier DSP for CTV advertising, with a focus on direct access to premium inventory [11][12] - The strategic priorities include CTV, addressability, and Viant AI, with a commitment to innovation and efficiency [10][35] - The company anticipates that CTV will become the cornerstone of every advertiser's marketing strategy, with other digital channels serving complementary roles [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties, citing limited impact from recent tariff announcements [7][8] - The company expects continued strong demand for CTV and addressability solutions, with a positive outlook for the second half of 2025 despite some delayed spending [45][46] - Management highlighted the importance of educating advertisers on the effectiveness of CTV and incremental lift measurement [58][60] Other Important Information - The company has a strong cash position with $174 million in cash and cash equivalents and no debt [41] - A $50 million increase to the share repurchase authorization was announced, reflecting confidence in the company's market positioning [44] Q&A Session Summary Question: Customer sentiment and CTV's role in mitigating risks - Management noted limited delays in spending from a small number of advertisers, primarily in consumer goods, but overall resilience in the advertising market [53][54] Question: Convincing advertisers to shift spend from search and social - The focus is on educating advertisers about consumer journeys and the effectiveness of CTV, with a growing preference for measuring incremental lift [58][60] Question: Confidence in delayed spending materializing in the second half - Management expressed high confidence based on scheduled platform activity, indicating that delayed spending is being replaced [69] Question: Differentiation of Household ID compared to Google's offerings - Household ID focuses on people-based identifiers linked to physical addresses, contrasting with Google's use of IP addresses, which are less effective for targeted advertising [71][75]