Press release
Viant Technology Announces First Quarter 2023 Financial Results
IRVINE, Calif.--(BUSINESS WIRE)-- Viant Technology Inc. (Nasdaq: DSP), a leading people-based advertising technology company, today reported financial
About this update from Viant Technology Inc.
[{"type":"text","content":" IRVINE, Calif.--(BUSINESS WIRE)--\nViant Technology Inc. (Nasdaq: DSP), a leading people-based advertising technology company, today reported financial results for its first quarter ended March 31, 2023.\n\n\n“We were pleased to kick off 2023 with first quarter results that met or exceeded our guidance across the board,” said Tim Vanderhook, Co-Founder and CEO, Viant. “We are in the early stages of seeing the returns from our recent investments in our platform, most notably our advanced measurement capabilities and Data Platform. We believe we are well positioned to win market share and continue to capitalize on the secular shift to omnichannel programmatic advertising.”\n\n\nFirst quarter 2023 Financial Highlights, year-over-year:\n\n\nGAAP\n\n\n\nRevenue of $41.7 million, a decrease of 2%\n\n\n\nGross profit of $18.4 million, an increase of 12%\n\n\n\nNet loss was $9.4 million, compared to a net loss of $13.6 million in the first quarter of 2022\n\n\n\nNet loss attributable to Viant Technology Inc. was $2.5 million, or $(0.17) per diluted share of Class A common stock, compared to net loss attributable to Viant Technology Inc. of $3.2 million, or $(0.23) per diluted share of Class A common stock, in the first quarter of 2022\n\n\n\nTotal Class A and Class B common shares outstanding were 62.1 million as of March 31, 2023\n\n\n\nCash and cash equivalents as of March 31, 2023 was $201.7 million, with no outstanding debt\n\n\n\nNon-GAAP(1)\n\n\n\nContribution ex-TAC was $28.0 million, an increase of 2%\n\n\n\nAdjusted EBITDA was $(0.4) million, compared to $(3.9) million in the first quarter of 2022\n\n\n\nNon-GAAP net loss was $1.8 million, compared to non-GAAP net loss of $6.8 million in the first quarter of 2022\n\n\n\nNon-GAAP net loss attributable to Viant Technology Inc. was $0.4 million, or $(0.03) per diluted share of Class A common stock, compared to non-GAAP net loss attributable to Viant Technology Inc. of $1.3 million, or $(0.09) per diluted share of Class A common stock, in the first quarter of 2022\n\n\n\nBusiness Highlights:\n\n\n\nAdvertiser spend per active customer(2) increased 6% year-over-year.\n\n\n\nActive customers(3) totaled 327 as of March 31, 2023.\n\n\n\nViant upsized its existing credit facility to $75 million from $40 million and extended the term five years.\n\n\n\n“Our team has continued to execute...