Press release
Viant Technology Announces Third Quarter 2022 Financial Results
IRVINE, Calif.--(BUSINESS WIRE)-- Viant Technology Inc. (Nasdaq: DSP), a leading people-based advertising software company, today reported financial results
About this update from Viant Technology Inc.
[{"type":"text","content":" IRVINE, Calif.--(BUSINESS WIRE)--\nViant Technology Inc. (Nasdaq: DSP), a leading people-based advertising software company, today reported financial results for its third quarter ended September 30, 2022.\n\n“We saw a healthy 19% growth in advertiser spend on our platform in the third quarter, well above growth rates across the digital advertising landscape. We continue to be encouraged by the strategic conversations with larger advertisers and their agencies who come to us for our omnichannel capabilities and Household ID technology,” said Tim Vanderhook, Co-Founder and CEO, Viant. “While an adverse macroeconomic environment will impact us in the short term, we remain confident that the rich capabilities and flexible nature of our platform in times of shifting ad spend priorities make our offering all the more valuable to our customers.”\n\nThird quarter 2022 Financial Highlights, year-over-year:\n\nGAAP\n\n\nRevenue was $48.8 million, a decrease of 4%\n\n\nGross profit was $21.3 million, a decrease of 3%\n\n\nNet loss was $12.4 million, or $(0.22) per diluted share of Class A common stock, compared to a net loss of $12.2 million, or $(0.20) per diluted share of Class A common stock, in the third quarter of 2021\n\n\nCash and cash equivalents as of September 30, 2022 was $199.7 million with no outstanding debt\n\n\nNon-GAAP(1)\n\n\nContribution ex-TAC was $32.1 million, a decrease of 6%\n\n\nAdjusted EBITDA was $(1.8) million, compared to $6.5 million in the third quarter of 2021\n\n\nNon-GAAP net loss was $4.4 million, or $(0.06) per diluted share of Class A common stock, compared to non-GAAP net income of $3.1 million, or $0.04 per diluted share of Class A common stock, in the third quarter of 2021\n\n\nBusiness Highlights:\n\n\nAdvertiser spend across the Adelphic platform(2) grew 19% on a year-over-year basis\n\n\nActive customers(3) grew to 334 as of September 30, 2022, representing a year-over-year increase of 29, or 10%\n\n\nStreaming audio continues to be a fast-growing channel on a similar growth trajectory as CTV representing 6% of advertiser spend in the quarter\n\n\nViant expanded its omnichannel capabilities by being first to market with Minecraft in-game advertising\n\n\nNew integration with Snowflake provides customers with more secure, efficient and streamlined data sharing capabilities when using Viant’s Hous...