Press release
Viant Announces Fourth Quarter and Full Year 2020 Financial Results
IRVINE, Calif., March 22, 2021 (GLOBE NEWSWIRE) -- Viant Technology Inc. (NASDAQ: DSP), a leading people-based advertising software company, today announced
About this update from Viant Technology Inc.
[{"type":"text","content":"IRVINE, Calif., March 22, 2021 (GLOBE NEWSWIRE) -- Viant Technology Inc. (NASDAQ: DSP), a leading people-based advertising software company, today announced financial results for its fourth quarter and fiscal year ended December 31, 2020. “We are excited to report our first quarterly earnings as a public company, having completed our successful IPO in February,” stated Tim Vanderhook, Co-founder and CEO of Viant. “2020 was a transformational year for Viant and the advertising industry as marketers responded to the impact of the global pandemic. We exited the year with strong momentum, particularly in connected TV, and we are seeing signs of recovery in several verticals that were negatively impacted by the pandemic. With our people-based approach to digital advertising, we believe we are uniquely well positioned to benefit from the tailwinds of the industry as cookie-based approaches become obsolete. We are just at the beginning of a large opportunity and look forward to driving growth in the quarters ahead as we capitalize on the investments we have made in our software platform and go-to-market organization.” Fourth Quarter 2020 Financial Highlights: Revenue: Revenue for the quarter was $56.5 million, an increase of 9% year-over-year.Gross Profit: Gross profit for the quarter was $30.5 million, an increase of 31% year-over-year.Revenue ex-TAC: Revenue ex-TAC was $39.1 million, an increase of 19% over $32.8 million in 2019. (1)Net Income: Net income was $12.9 million, or $12.86 per diluted unit in the fourth quarter, an increase of 138% over net income of $5.4 million in the same period of 2019.Adjusted EBITDA: Adjusted EBITDA was $15.6 million, an increase of 66% over $9.4 million for the same period in 2019. Adjusted EBITDA margin as a percentage of revenue ex-TAC was 40%. (1) Full Year 2020 Financial Highlights: Revenue: Revenue for the full year was $165.3 million, an increase of 0.2% year-over-year.Gross Profit: Gross profit for the full year was $77.0 million, an increase of 9% year-over-year.Revenue ex-TAC: Revenue ex-TAC was $110.5 million, an increase of 6% over $104.4 million in 2019. (1)Net Income: Net income was $20.6 million, or $20.64 per diluted unit, an increase of 108% over net income of $9.9 million in 2019.Adjusted EBITDA: Adjusted EBITDA was $31.8 million, an increase of 29% over $24.7 million in 2019. Adjus...