Press release
Viant Technology Announces First Quarter 2021 Financial Results
IRVINE, Calif., May 13, 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., May 13, 2021 (GLOBE NEWSWIRE) -- Viant Technology Inc. (NASDAQ: DSP), a leading people-based advertising software company, today announced financial results for its first quarter ended March 31, 2021. “Viant has had a strong start to 2021, outpacing our expectations across the board in the first quarter. As such, we are raising our guidance for the year,” stated Tim Vanderhook, Co-founder and CEO of Viant. “We believe these results reflect the continued adoption of our people-based approach to digital advertising, patented internet connected household identification technology, and our scale and expertise in Connected Television (CTV). This is demonstrated by the growth we’ve seen across our CTV business, which grew 66% year-over-year in the first quarter. We remain excited about the large and attractive market opportunity we see for our business, and we look forward to building on our continued success.” First Quarter 2021 Financial Highlights: Revenue: Revenue was $40.1 million, an increase of 5% year-over-year.Gross Profit: Gross profit was $15.8 million, an increase of 9% year-over-year.Revenue ex-TAC: Revenue ex-TAC was $26.7 million, an increase of 15% year-over-year.(1)Net Loss: Net loss was $14.9 million, or ($0.27) per share of Class A common stock in the first quarter, compared to net income of $0.3 million for the same period in 2020.Non-GAAP Net Income: Non-GAAP net income was $2.2 million, or $0.01 per share of Class A common stock in the first quarter of 2021.(1)Adjusted EBITDA: Adjusted EBITDA was $4.9 million, an increase of 51% over $3.2 million for the same period in 2020. Adjusted EBITDA margin as a percentage of revenue ex-TAC was 18%.(1) Business Highlights: Platform Spend(2) from CTV grew 66% in the first quarter, and represented 45% of total Platform Spend.Video represented 67% of Platform Spend in the first quarter, up from 61% in Q4 of 2020.Total Platform Spend increased 9% year-over-year in the first quarter. “We are pleased with the results we achieved in the first quarter, which beat our guidance across all metrics,” said Larry Madden, CFO of Viant. “We saw a sequential increase in total customer count, which reached 266 at the end of the quarter, while average revenue ex-TAC per Active Customer(3) increased 2% over Q4 2020 and 7% year-over-year. As expected, our Q1 results were muted ...