Press release
Viant Technology Announces Second Quarter 2021 Financial Results
IRVINE, Calif., Aug. 12, 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., Aug. 12, 2021 (GLOBE NEWSWIRE) -- Viant Technology Inc. (NASDAQ: DSP), a leading people-based advertising software company, today announced financial results for its second quarter ended June 30, 2021. “We had a very strong second quarter, highlighted by revenue growth of 66% and continued momentum with Connected TV, which more than doubled year-over-year,” said Tim Vanderhook, co-founder and CEO of Viant. “Our people-based approach to digital advertising and patented Household Identification technology remain key differentiators that attract customers to our platform as they look to drive tangible ROI from their marketing investments. We are encouraged by the momentum we are seeing across our business and are raising guidance for the full year across all key metrics.” Second Quarter 2021 Financial Highlights: Revenue: Revenue was $50.4 million, an increase of 66% year-over-year.Gross Profit: Gross Profit was $18.7 million, an increase of 58% year-over-year.Contribution ex-TAC: Contribution ex-TAC was $32.2 million, an increase of 61% year-over-year.(1)Net Loss: Net Loss was $18.1 million, or ($0.32) per diluted share of Class A common stock in the second quarter, compared to Net Loss of $0.03 million for the same period in 2020.Non-GAAP Net Income: Non-GAAP Net Income was $5.2 million, or $0.06 per diluted share of Class A common stock in the second quarter of 2021.(1)Adjusted EBITDA: Adjusted EBITDA was $8.3 million, an increase of 203% versus $2.8 million for the same period in 2020.(1)Adjusted EBITDA margin: Adjusted EBITDA margin as a percentage of Contribution ex-TAC was 26%.(1) Net Income (Loss) as a percentage of Gross Profit, the most comparable GAAP measure, is not meaningful due to the Net Loss for the period. Business Highlights: Contribution ex-TAC from Connected TV grew 105% year-over-year in the second quarter and represented 41% of total Contribution ex-TAC. Gross Profit, the most comparable GAAP measure, is not calculable by channel because Other Platform Operations expenses cannot be allocated by channel.Total Platform Spend increased 58% year-over-year in the second quarter. (2)Total Active Customers grew to 288 by the end of the second quarter, a sequential increase of 22 from 266 at the end of the first quarter of 2021. Average Contribution ex-TAC per Active Customer increased to $438 thousan...