Viant Technology, Inc. ( (DSP) ) has released its Q3 earnings. Here is a breakdown of the information Viant Technology, Inc. presented to its investors.
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Viant Technology, Inc. is a leading company in the field of AI-powered programmatic advertising, distinguished by its omnichannel platform specifically tailored for connected television (CTV). The company is committed to advancing digital marketing through innovative and autonomous advertising solutions.
In its third quarter of 2024, Viant Technology reported impressive financial results, surpassing the high end of its guidance for revenue, contribution excluding traffic acquisition costs (ex-TAC), and adjusted EBITDA. The company also achieved record levels of advertiser spending on its platform, particularly in the CTV segment, and announced the acquisition of IRIS.TV to enhance its CTV capabilities.
Key financial highlights for the third quarter of 2024 include a 34% increase in revenue year-over-year to $79.9 million and a net income of $6.5 million, reflecting a substantial turnaround from a loss in the same period last year. The company’s adjusted EBITDA rose by 52% to $14.7 million, and non-GAAP net income increased by 61% to $12.3 million. Viant also launched ViantAI, an autonomous advertising platform, and was recognized as the Best Demand-Side Platform by MarTech Breakthrough.
The company’s strategic focus on CTV and the introduction of ViantAI have positioned it well for continued market share growth. The acquisition of IRIS.TV is expected to further enhance its targeting and measurement capabilities in CTV advertising, aligning with advertisers’ needs for efficient and innovative solutions.
Looking ahead, Viant Technology remains optimistic about its growth prospects, with expectations of continued success in the CTV space and increased adoption of its AI-driven solutions. The company anticipates further capturing market share and delivering efficiencies and cost savings to its customers.
