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Mar 31, 2024
Viant Q1 2024 Earnings Report
Viant reported strong Q1 2024 results with significant CTV growth and improved profitability.
Key Takeaways
Viant Technology Inc. announced strong first-quarter results, driven by over 50% year-over-year growth in CTV. The company's Direct Access program saw notable adoption, and there was a significant improvement in adjusted EBITDA as a percentage of contribution ex-TAC. Viant's Board of Directors also authorized a $50 million stock repurchase program.
Revenue increased by 28% year-over-year to $53.393 million.
CTV grew over 50% year-over-year, driven by Household ID technology and the Direct Access program.
Adjusted EBITDA improved by 888% year-over-year to $3.075 million.
The Board of Directors authorized a $50 million stock repurchase program.
Viant
Viant
Forward Guidance
For the second quarter 2024, Viant expects revenue in the range of $63.5 million to $66.5 million, contribution ex-TAC in the range of $40.0 million to $42.0 million, non-GAAP operating expenses in the range of $32.0 million to $33.0 million, and adjusted EBITDA in the range of $8.0 million to $9.0 million.
Positive Outlook
- Revenue in the range of $63.5 million to $66.5 million
- Contribution ex-TAC in the range of $40.0 million to $42.0 million
- Adjusted EBITDA in the range of $8.0 million to $9.0 million
- Non-GAAP operating expenses in the range of $32.0 million to $33.0 million
- Strong industry tailwinds for programmatic advertising.
Challenges Ahead
- Variability and complexity with respect to the charges excluded from non-GAAP financial measures.
- Impact of future traffic acquisition costs and other platform operations expenses.
- Measures and effects of our stock-based compensation related to equity grants.
- Direct impact by unpredictable fluctuations in our share price.
- Potential forfeitures of equity grants.