Press release
Viant Technology Announces Third Quarter 2021 Financial Results
IRVINE, Calif., Nov. 09, 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., Nov. 09, 2021 (GLOBE NEWSWIRE) -- Viant Technology Inc. (NASDAQ: DSP), a leading people-based advertising software company, today announced financial results for its third quarter ended September 30, 2021. “Our third quarter results once again exceeded our expectations as the power of our people-based advertising platform continues to resonate with customers,” said Tim Vanderhook, co-founder and CEO of Viant. “Advertisers are increasingly looking for better ways to reach consumers as privacy changes across the digital advertising landscape are impacting their ability to drive and measure ROI of their ad spend. Our World Without Cookies (WWC) software release is driving customer acquisition and conversions across channels where cookies or device identifiers don’t exist, like in Connected TV, streaming audio, and mobile devices. We are in the early stages of capitalizing on this opportunity as the industry continues to shift in favor of our people-based approach, and we are pleased to again be raising our guidance for the year.” Third Quarter 2021 Financial Highlights: Revenue: Revenue was $50.9 million, an increase of 26% year-over-year.Gross Profit: Gross Profit was $21.9 million, an increase of 9% year-over-year.Contribution ex-TAC: Contribution ex-TAC was $34.1 million, an increase of 22% year-over-year.(1)Net Loss: Net Loss was $12.2 million, or ($0.20) per diluted share of Class A common stock in the third quarter, compared to Net Income of $7.5 million for the same period in 2020.Non-GAAP Net Income: Non-GAAP Net Income was $3.1 million, or $0.04 per diluted share of Class A common stock in the third quarter of 2021.(1)Adjusted EBITDA: Adjusted EBITDA was $6.5 million, compared to Adjusted EBITDA of $10.2 million for the same period in 2020. (1)Adjusted EBITDA margin: Adjusted EBITDA margin as a percentage of Contribution ex-TAC was 19%.(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: Total Active Customers grew to 305 by the end of the third quarter, a sequential increase of 17 from 288 at the end of the second quarter of 2021, our second consecutive quarter of double-digit growth in customers.(2)Platform Spend from Connected TV grew 43% year-over year in the third quarter driving an increase i...