DSP - Viant Technology Reports Financial Results and Business Highlights

2024-03-04 19:55:12 ET

DENVER, Colo., Mar 04, 2024 ( 247marketnews.com )- Viant Technology Inc. (NASDAQ: DSP ) reported, after today’s market close, its fourth quarter and full year 2023 financial results.

DSP is trading at $9.75, up $0.59 (+7.19%), on 275K shares.

Viant reported double-digit CTV growth in Q4 driven by its Household ID technology and Direct Access program and a more than 20% growth in the number of customers with greater than $1 million in contribution ex-TAC in FY 2023. DSP expects $49-52M first quarter 2024 revenues $49-52M and $2-3M adjusted EBITDA.

“Our strong fourth quarter results capped off a year of accelerating growth and innovation at Viant,” said Tim Vanderhook, Co-Founder and CEO, Viant. “With the impending deprecation of cookies, I believe we are at a tipping point in the market where advertisers are looking for new platforms for their omnichannel programmatic advertising needs, and we are seeing this materialize in customers shifting budgets to Viant. We have over ten years of R&D invested in our Household ID technology which enables advertisers to plan, buy, and measure their spend in cookie-free environments, and our new AI product suite drove even more return on ad spend for our customers. We are uniquely well positioned to benefit from the changes in programmatic advertising and are very excited about our growth prospects in 2024 and beyond.”

“We were pleased with our fourth quarter results, again achieving our revenue and contribution ex-TAC guidance, while meaningfully outperforming our adjusted EBITDA targets,” said Larry Madden, CFO, Viant. “We have continued to execute on our strategy of driving double-digit top line growth while increasing internal efficiencies and improving our adjusted EBITDA margin as a percentage of contribution ex-TAC. A year ago, we set a goal of showing improved profitability each quarter of 2023, and I am very pleased with our team’s ability to deliver on that commitment by a wide margin. We look forward to building on our momentum in the year ahead.”

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