Press release
Viant Technology Announces Fourth Quarter and Full Year 2022 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 fourth quarter and full year ended December 31, 2022.\n\n“We closed out 2022 with results within our guidance or better, as customers are shifting more of their budgets to our omnichannel, people-based advertising platform,” said Tim Vanderhook, Co-Founder and CEO, Viant. “While the macroeconomic environment over the last year has continued to put pressure on advertising budgets, we have focused on investing in our technology and platform to help our customers drive higher returns from the ad dollars they spend. Notably we believe our investments in AI and our CTV infrastructure make us well positioned to capitalize on the industry tailwinds for programmatic advertising across digital channels in the years ahead.”\n\nFourth quarter 2022 Financial Highlights, year-over-year:\n\nGAAP\n\n\nRevenue was $54.5 million, a decrease of 34%\n\n\nGross profit was $22.5 million, a decrease of 41%\n\n\nNet loss was $8.0 million, compared to net income of $7.5 million in the fourth quarter of 2021\n\n\nNet loss attributable to Viant Technology Inc. was $2.2 million, or $(0.15) per diluted share of Class A common stock, compared to net income attributable to Viant Technology Inc. of $1.6 million, or $0.11 per diluted share of Class A common stock, in the fourth quarter of 2021\n\n\nCash and cash equivalents as of December 31, 2022 was $206.6 million, with no outstanding debt\n\n\nNon-GAAP(1)\n\n\nContribution ex-TAC was $33.4 million, a decrease of 31%\n\n\nAdjusted EBITDA was $2.6 million, compared to $17.4 million in the fourth quarter of 2021\n\n\nNon-GAAP net income was $0.4 million, compared to non-GAAP net income of $13.4 million in the fourth quarter of 2021\n\n\nNon-GAAP net income attributable to Viant Technology Inc. was $0.0 million, or $0.00 per diluted share of Class A common stock, compared to non-GAAP net income attributable to Viant Technology Inc. of $2.4 million, or $0.17 per diluted share of Class A common stock, in the fourth quarter of 2021\n\n\nFull year 2022 Financial Highlights, year-over-year:\n\nGAAP\n\n\nRevenue was $197.2 million, a decrease of 12%\n\n\nGross profit was $80.4 million, a decrease of 15%\n\n\nNet loss was $48.1 million, compared to a n...