Press release
Viant Technology Announces Second 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 second quarter ended June 30, 2023.\n\n\n“We are pleased to report another quarter of strong performance, highlighted by double-digit revenue growth,” said Tim Vanderhook, Co-Founder and CEO, Viant. “New AI enhancements to our platform are improving campaign performance, prompting our customers to increase their spend. Our unique suite of omnichannel solutions position our customers for measurable campaign success across cookie-free environments, including CTV, and give us confidence in our market positioning and growth opportunities ahead.”\n\n\nSecond quarter 2023 Financial Highlights, year-over-year:\n\n\nGAAP\n\n\n\nRevenue of $57.2 million, an increase of 12%\n\n\n\nGross profit of $23.7 million, an increase of 17%\n\n\n\nNet loss of $3.2 million, compared to a net loss of $14.1 million in the second quarter of 2022\n\n\n\nNet loss attributable to Viant Technology Inc. of $1.1 million, or $(0.07) per diluted share of Class A common stock, compared to net loss attributable to Viant Technology Inc. of $3.4 million, or $(0.24) per diluted share of Class A common stock, in the second quarter of 2022\n\n\n\nTotal Class A and Class B common shares outstanding were 62.4 million as of June 30, 2023\n\n\n\nCash and cash equivalents as of June 30, 2023 was $203.9 million, with no outstanding debt\n\n\n\nNon-GAAP(1)\n\n\n\nContribution ex-TAC of $33.7 million, an increase of 6%\n\n\n\nAdjusted EBITDA of $6.8 million, compared to $(3.1) million in the second quarter of 2022\n\n\n\nAdjusted EBITDA as a percentage of contribution ex-TAC of 20%\n\n\n\nNon-GAAP net income of $5.1 million, compared to non-GAAP net loss of $5.9 million in the second quarter of 2022\n\n\n\nNon-GAAP net income attributable to Viant Technology Inc. of $0.9 million, or $0.06 per diluted share of Class A common stock, compared to non-GAAP net loss attributable to Viant Technology Inc. of $1.2 million, or $(0.08) per diluted share of Class A common stock, in the second quarter of 2022\n\n\n\nBusiness Highlights:\n\n\n\nAdvertiser spend per active customer(2) increased 7% year-over-year\n\n\n\nReleased AI-powered Bid Optimizer, driving an average CPM savings of over 35% on behalf of advertisers\n\n\...