Viant Technology Inc. (DSP) Market Cap
Viant Technology Inc. has a market capitalization of $713.2M.
Financials based on reported quarter end 2025-12-31
Price: $11.23
▲ 11.23 (-3.27%)
Market Cap: 713.22M
NASDAQ · time unavailable
CEO: Tim Vanderhook
Sector: Technology
Industry: Software - Application
IPO Date: 2021-02-10
Website: https://www.viantinc.com
Viant Technology Inc. (DSP) - Company Information
Market Cap: 713.22M · Sector: Technology
Viant Technology Inc. operates as an advertising technology company. It provides ViantAI, an artificial intelligence product suite; Holistic, Omnichannel DSP, an integrated platform that manages omnichannel campaigns and access metrics; Household ID, which combines digital and personal identifiers into a normalized household profile; IRIS_ID, a content identifier that allows partners to share video-level data to power planning, targeting, and measurement solutions in ad-supported streaming media; and Viant Data Platform, which offers the ability to integrate first-party data with data from top third-party data providers in order to obtain key insights, reporting, and attribution opportunities. The company also offers Direct Access, a supply path optimization program that creates a direct path to premium inventory; Advanced Reporting and Measurement that offers conversion lift, multi-touch attribution, foot-traffic data reports, digital-out-of-home lift, sales reporting, and ROAS analytics; and Flexible Customer Engagement Model, which offers customers transparency and control over their advertising campaigns and underlying data infrastructure. The company sells its platform through a direct sales team focused on business development in various markets. It serves purchasers of programmatic advertising inventory and large, independent, and mid-market advertising agencies, as well as marketers. The company was founded in 1999 and is headquartered in Irvine, California. Viant Inc. operates as a subsidiary of American Lifecare Holdings Inc.
Analyst Sentiment
Based on 13 ratings
Analyst 1Y Forecast: $15.20
Average target (based on 3 sources)
Consensus Price Target
Low
$15
Median
$15
High
$16
Average
$15
Potential Upside: 35.8%
Price & Moving Averages
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Fundamentals Overview
📊 AI Financial Analysis
Powered by StockMarketInfo"DSP has generated $110.1M in revenue and a net income of $8.26M, resulting in an EPS of $1.45. The company displays strong operating cash flow of $33.08M, and despite a capital expenditure of $3.7M, it boasts a free cash flow of $29.38M. With total assets of $474.66M, total liabilities of $185.86M, and a total equity of $288.8M, DSP maintains a strong balance sheet with net debt of -$169.4M. The stock price currently stands at $11.01, reflecting a -16.15% decline over the past year, yet it has experienced a notable 21.79% increase over the last six months. DSP has no dividend payments but aims to enhance shareholder returns through stock price appreciation. The current price is significantly below its target median of $14.5, suggesting potential upside."
Revenue Growth
Revenue of $110.1M indicates solid growth opportunities.
Profitability
Net income of $8.26M demonstrates reasonable profitability.
Cash Flow Quality
Strong operating cash flow relative to capital expenditures.
Leverage & Balance Sheet
Healthy balance sheet with negative net debt indicates strong financial stability.
Shareholder Returns
Negative stock performance over the year, but potential for recovery noted.
Analyst Sentiment & Valuation
Current price below consensus indicates potential upside.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
Management delivered an assertively upbeat Q4/Q1 setup, highlighting record revenue (+22% YoY), contribution (+19%), and adjusted EBITDA (+45%) while arguing the underlying business was even stronger than reported because political comps were a headwind (reported revenue growth drag ~600 bps; contribution drag ~500 bps). They also cite tariff-related pressure in 2025 and a material client migration due to a corporate merger—hard operational issues—yet still report margin expansion (+~700 bps in Q4 adjusted EBITDA as % of contribution ex-TAC; +~250 bps for full-year 2025). The forward-looking tone is a “re-accelerate” story: Outcomes (autonomous AI decisioning) and IRIS ID/CTV adoption are positioned as the mechanisms to pull forward performance budgets, with Q1 2026 guidance pointing to an adjusted EBITDA margin of 18% (+500 bps YoY). However, analyst pressure intended to probe pipeline win rates and deal execution is not captured because the transcript truncates mid-question, limiting visibility into how management would address those risks under questioning.
Growth Catalysts
- CTV demand acceleration; CTV contribution ex-TAC increased >40% (second consecutive year)
- IRIS ID ramp: presence in CTV bidstream grown fivefold to nearly 50% of incoming CTV bid requests in the first quarter
- Viant AI Phase 4 launch with new branded autonomous decisioning solution: Outcomes
- Political shift: expectation of stronger political contribution in 2H driven by midterm elections and budget shift from linear TV to CTV
- Tentpole viewership tailwinds: Winter Olympics (Feb) averaged 23.5M U.S. viewers; 2026 World Cup projected to exceed prior record of 26M U.S. viewers
Business Development
- Molson Coors: new flagship customer live and actively deploying ad spend in Q1 2026 (plans to ramp throughout the year)
- WHOOP: partnership announced; Viant designated as DSP of record for sizable ad budget over the next two years
- Additional recent major U.S. advertiser wins mentioned: WHOOP, Molson Coors; also noted test wins with MacKenzie-Childs, UMass Global, Kampgrounds of America, Tire Discounters, Uqora, Alzheimer’s Association
- Direct Access Premium Publisher program: inventory access via providers including Peacock (Winter Olympics) and Fox/Peacock and various virtual MVPDs (World Cup); full-year 2025 included CTV streaming services from Disney, Paramount, Peacock
Financial Highlights
- Q4 2025 revenue: $110.1M, +22% YoY and 5% above the high end of guidance
- Q4 2025 contribution ex-TAC: $64.6M, +19% YoY and 1% above the high end of guidance
- Q4 adjusted EBITDA: $24.7M, +45% YoY; exceeded guidance high point by 5%
- Q4 adjusted EBITDA as % of contribution ex-TAC: 38%, ~700 bps improvement YoY
- Q4 non-GAAP net income: $19.0M (+37% YoY); Q4 non-GAAP EPS (Class A): $0.23 vs $0.17 prior year
- 2025 full-year: revenue $344.2M (+19% YoY); contribution ex-TAC $208.7M (+18%); adjusted EBITDA $57.4M (+29%); adjusted EBITDA margin +~250 bps YoY to 28%
- Political advertising comparables impact (candid headwind): excluding prior-year political ad spend contribution, revenue growth +600 bps and contribution ex-TAC growth +500 bps in Q4 (pro forma)
- Tax/tariff-related pressure explicitly referenced: 2025 underlying performance absorbed tariff-related pressure (no % given); management states these effects reduced reported results
Capital Funding
- No debt; $75.0M credit facility access
- Cash and cash equivalents: $191.2M (as of quarter end)
- Free cash flow (Q4 2025): $28.2M (+132% YoY)
- Share repurchases: returned $59.6M to shareholders since May 2024; ~$40.4M remains available as of Mar 9
Strategy & Ops
- Product/AI operations: Outcomes built on AI Lattice Brain autonomous decisioning; aims to shift optimization from manual advertiser workflow to autonomous real-time refinement
- Product adoption/utilization metrics: Household ID embedded in >80% of programmatic bid requests and >90% of CTV requests; 95% of household addresses mapped to ID graph
- Product penetration: IRIS ID presence in CTV bidstream grew fivefold to nearly 50% of incoming CTV bid requests in the first quarter
- Productivity/efficiency improvement: trailing-twelve-month contribution ex-TAC per employee up >8% YoY; 10 consecutive quarterly increases
Market Outlook
- Q1 2026 guidance: revenue $83.0M–$86.0M (+20% YoY at midpoint); contribution ex-TAC $49.0M–$51.0M (+17% YoY at midpoint)
- Q1 2026 guidance: non-GAAP operating expenses $40.5M–$41.5M (+10% YoY at midpoint)
- Q1 2026 guidance: adjusted EBITDA $8.5M–$9.5M (+67% YoY at midpoint); adjusted EBITDA margin as % of contribution ex-TAC: 18% at midpoint (~+500 bps YoY)
- 2026 outlook (directional): contribution ex-TAC growth expected to continue outpacing U.S. programmatic market (market projected to grow ~13%); revenue/contribution ex-TAC growth expected to accelerate sequentially in 2026
Risks & Headwinds
- Tariff-related pressure: management states 2025 underlying performance absorbed tariff-related pressure (no specific bps/% provided in excerpt)
- Political ad cycle timing: difficult prior-year political comparison weighed on reported Q4 results (cited quantitatively as ~600 bps revenue and ~500 bps contribution ex-TAC headwind)
- Client churn due to merger: migration of a material client off platform due to a corporate merger (no size/impact disclosed in excerpt)
- Q&A coverage gap: transcript cuts off during the first analyst question; no additional risk-specific mitigation steps were provided in the Q&A section
Sentiment: MIXED
Note: This summary was synthesized by AI from the DSP Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.