Press release
Viant Technology Announces Record Fourth Quarter and Full Year 2021 Financial Results
IRVINE, Calif., March 10, 2022 (GLOBE NEWSWIRE) -- Viant Technology Inc. (NASDAQ: DSP), a leading people-based advertising software company, today reported
About this update from Viant Technology Inc.
[{"type":"text","content":"IRVINE, Calif., March 10, 2022 (GLOBE NEWSWIRE) -- Viant Technology Inc. (NASDAQ: DSP), a leading people-based advertising software company, today reported financial results for its fourth quarter and full year ended December 31, 2021. “Our fourth quarter results, which beat our revenue and profitability guidance, concluded an incredible year for Viant. We greatly exceeded our expectations on all key financial metrics for the year and delivered against every aspect of our business strategy that we outlined in our February 2021 IPO, further proving out Viant’s business model and technology,” said Tim Vanderhook, co-founder and CEO of Viant. “We expect advertiser spend across our platform to further accelerate in 2022, and we are setting long term goals for revenue of at least $500 million and adjusted EBITDA as a percentage of contribution ex-TAC of at least 35% by 2025.” Added co-founder and COO, Chris Vanderhook, “We made great strides in scaling our business in 2021. Marketer and agency clients are responding positively to the power and ease-of-use of our Adelphic omnichannel platform that leverages our household ID technology and new World Without Cookies (“WWC”) software to facilitate the buying and measurement of their digital advertising. Increased customer demand, the rapid development of our technology and the expansion and execution by our sales team, were key to driving our 2021 results, as evidenced by our growth in both the total number of and spend by active customers, as well as our continuing high customer retention rate.” Fourth Quarter 2021 Financial Highlights, year-over-year: GAAP Revenue was $82.7 million, an increase of 46%Gross profit was $38.1 million, an increase of 25%Net income was $7.5 million, or $0.11 per diluted share of Class A common stock(1), compared to $12.9 million in the fourth quarter of 2020Net income as a percentage of gross profit was 20%, compared to 42% in the fourth quarter of 2020Cash as of December 31, 2021 was $238.5 million Non-GAAP(2) Contribution ex-TAC was $48.5 million, an increase of 24%Adjusted EBITDA was $17.4 million, an increase of 12%Adjusted EBITDA as a percentage of contribution ex-TAC was 36%, compared to 40% in the fourth quarter of 2020Non-GAAP net income was $13.4 million, or $0.17 per diluted share of Class A common stock(1), compared to $12.9 million in the fourth...