Press release
Viant Technology Announces Second Quarter 2024 Financial Results
IRVINE, Calif.--(BUSINESS WIRE)-- Viant Technology Inc. (Nasdaq: DSP), a leading advertising technology company, today reported financial results for its
About this update from Viant Technology Inc.
[{"type":"text","content":" IRVINE, Calif.--(BUSINESS WIRE)--\nViant Technology Inc. (Nasdaq: DSP), a leading advertising technology company, today reported financial results for its second quarter ended June 30, 2024.\n\n\n\"We are very pleased with our second quarter results, marked by record advertiser spend on our platform,\" said Tim Vanderhook, Co-Founder and CEO, Viant. \"We are seeing a market shift where advertisers are increasingly looking for alternatives to the largest legacy players in the industry, and we believe our position as a self-service, buy side platform along with our vision for autonomous advertising are key reasons why advertisers are increasing spend with Viant. Today we are excited to announce the launch of ViantAI, which integrates our suite of AI enabled tools to make planning, buying, measurement and optimization of programmatic advertising easier and more effective for customers. We believe we are uniquely positioned to continue benefiting from these market dynamics shifting in our favor as we deliver innovative solutions to our customers with ViantAI.\"\n\n\nSecond quarter 2024 Financial Highlights, year-over-year (in thousands, except percentages and per share data):\n\n\n\n\n \n\n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nChange (%)\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n(NM = Not Meaningful)\n\n\n\n\n\n\n\n\nGAAP\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n65,866\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n57,223\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n15%\n\n\n\n\n\n\n\n\nGross profit\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n30,744\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n23,700\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n30%\n\n\n\n\n\n\n\n\nNet income (loss)\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n1,488\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n(3,203\n\n\n\n\n\n\n)\n\n\n\n\n\n\n \n\n\n\n\n\n\n146%\n\n\n\n\n\n\n\n\nNet income (loss) as a percentage of gross profit\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n5\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n(14\n\n\n\n\n\n\n)%\n\n\n\n\n\n\n \n\n\n\n\n\n\nNM\n\n\n\n\n\n\n\n\nEarnings (loss) per share of Class A common stock—basic\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.00\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n(0.07\n\n...