Slide 1: Q2 2026 Earnings Presentation
Q2 2026 EARNINGS PRESENTATION August 10, 2026 1
Slide 2: Safe Harbor
SAFE HARBOR This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply futur
Slide 3: Highlights Q2 2026
HIGHLIGHTS Q2 2026 ▪ Revenue, contribution ex-TAC, and adjusted EBITDA all achieved new Q2 records REVENUE ▪ Revenue and adjusted EBITDA exceeded the high-point of our guidance, while contribution ex-TAC came in near the high-end of our guidance +34% YoY ▪ Revenue increased 34% YoY and contribution
Slide 4: Strong Performance: Q2 2026 vs. Guidance
STRONG PERFORMANCE Q2 2026 VS. GUIDANCE Q2 Guidance Q2 Actual Q2 Better / (Worse) Midpoint(1) Revenue $100.0 $104.3 $4.3 Contribution ex-TAC $59.5 $60.2 $0.7 Non-GAAP Operating Expenses $46.0 $46.0 $0.0 Adjusted EBITDA $13.5 $14.2 $0.7 (2) Adjusted EBITDA Margin 23% 24% 1% ▪ Revenue and adjusted EBI
Slide 5: Revenue & Contribution ex-TAC
REVENUE & CONTRIBUTION EX-TAC REVENUE CONTRIBUTION EX-TAC +34% YoY +24% YoY $104.3 $77.9 $60.2 $48.4 Q2-25 Q2-26 Q2-25 Q2-26 ▪ Revenue growth accelerated from 25% in Q1 2026 to 34% in Q2 2026, a 900bps increase QoQ ▪ Contribution ex-TAC growth accelerated from 18% in Q1 2026 to 24% in Q2 2026, a 600
Slide 6: Non-GAAP Operating Expenses & Adjusted EBITDA
NON-GAAP OPERATING EXPENSES & ADJUSTED EBITDA NON-GAAP OPERATING EXPENSES ADJUSTED EBITDA +24% YoY +26% YoY $46.0 $14.2 $37.1 $11.3 Q2-25 Q2-26 Q2-25 Q2-26 ▪ Non-GAAP operating expenses increased 24% YoY ▪ The YoY increase was partly the result of the TVision acquisition which closed May 1, 2026 ▪ A
Slide 7: Financial Performance Snapshot
FINANCIAL PERFORMANCE SNAPSHOT Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Revenue $70.6 $77.9 $85.6 $110.1 $88.5 $104.3 Contribution ex-TAC $42.7 $48.4 $53.0 $64.6 $50.3 $60.2 Non-GAAP operating expenses $37.3 $37.1 $37.0 $39.8 $40.5 $46.0 Adjusted EBITDA $5.4 $11.3 $16.0 $24.7 $9.8 $14.2 Adjusted EBITDA m
Slide 8: Guidance Ranges Q3 2026
GUIDANCE RANGES Q3 2026 (1) % YoY Change at Q3 2026 Guidance Midpoint Revenue $107.5 - $110.5 27% Contribution ex-TAC $65.0 - $67.0 25% Non-GAAP Operating Expenses $46.5 - $47.5 27% Adjusted EBITDA $18.5 - $19.5 19% Adjusted EBITDA Margin (2) 28% - 29% n/a ▪ Based on the midpoint of our Q3 guide, we
Slide 9: Valuation and Shares Outstanding
VALUATION AND SHARES OUTSTANDING Basic Share Count Enterprise Value Class A shares 21.1 Share price (8/7/2026) $ 13.24 Class B shares 45.4 Total Class A and Class B shares outstanding(1) 66.5 Total Class A and Class B shares outstanding(1) 66.5 Market capitalization $ 879.9 Plus: Debt - Less: Cash(2
Slide 10: Appendix
APPENDIX 10
Slide 11: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES To provide investors and others with additional information regarding Viant’s results, we have included in this presentation the following financial measures that are not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”): contribution ex
Slide 12: Reconciliation of Revenue to Gross Profit to Contribution ex-TAC
RECONCILIATION OF REVENUE TO GROSS PROFIT TO CONTRIBUTION EX-TAC Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 (Unaudited, in thousands) Revenue $ 70,642 $ 77,853 $ 85,582 $ 110,124 $ 88,538 $ 104,254 Less: Platform operations (40,080) (41,970) (45,743) (58,823) (52,165) (58,710) Gross profit 30,562 35,883 39
Slide 13: Reconciliation of Operating Expenses to Non-GAAP Operating Expenses
RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 (Unaudited, in thousands) Operating expenses: Platform operations $ 40,080 $ 41,970 $ 45,743 $ 58,823 $ 52,165 $ 58,710 Sales and marketing 14,229 15,484 16,740 18,348 16,277 20,474 Technology and
Slide 14: Reconciliation of Net Income (Loss) to Adjusted EBITDA
RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 (Unaudited, in thousands) Net income (loss) $ (3,307) $ 1,787 $ 5,153 $ 20,463 $ (2,190) $ (1,836) Add back (less): Interest income, net (1,724) (1,484) (1,463) (1,428) (1,362) (1,254) Provision for (benefit f
Slide 15: Net Income as % of Gross Profit and Adjusted EBITDA as % of Contribution ex-TAC
NET INCOME (LOSS) AS A PERCENTAGE OF GROSS PROFIT AND ADJUSTED EBITDA AS A PERCENTAGE OF CONTRIBUTION EX-TAC Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 (Unaudited, in thousands ex cept percentages) Gross profit $ 30,562 $ 35,883 $ 39,839 $ 51,301 $ 36,373 $ 45,544 Net income (loss) $ (3,307) $ 1,787 $ 5,15
Slide 16: Reconciliation of Net Income (Loss) to Non-GAAP Net Income
RECONCILIATION OF NET INCOME (LOSS) TO NON-GAAP NET INCOME Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 (Unaudited, in thousands) Net income (loss) $ (1,836) $ 1,787 $ (4,026) $ (1,520) Add back (less): Stock-based compensation 9,950 6,343 16,527 11,982 (1) Acquisition a
Slide 17: Stock-Based Compensation
STOCK-BASED COMPENSATION Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 (Unaudited, in thousands) Stock-based compensation: Platform operations $ 955 $ 998 $ 1,643 $ 1,890 Sales and marketing 3,304 1,819 5,707 3,319 Technology and development 2,467 1,037 3,443 1,795 Genera
Slide 18: Depreciation and Amortization
DEPRECIATION AND AMORTIZATION Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 (Unaudited, in thousands) Depreciation and amortization: Platform operations $ 4,761 $ 3,674 $ 9,578 $ 7,246 Sales and marketing 130 79 226 153 Technology and development 510 717 984 1,307 General
Slide 19: Contribution ex-TAC per Employee
CONTRIBUTION EX-TAC PER EMPLOYEE Trailing Twelve Months Ended June 30, 2026 2025 Change (%) (Unaudited, in thousands, ex cept percentages and headcount) Contribution ex-TAC $ 228,051 $ 192,812 18% (1) Headcount 411 373 10% Contribution ex-TAC per employee $ 555 $ 517 7% ▪ Our ongoing investments in
Slide 20: Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW Three Months Ended June 30, 2026 2025 Change ($) Change (%) (Unaudited, in thousands, ex cept percentages) Net cash provided by operating activities $ 28,340 $ 20,934 $ 7,406 35% Less: Purchases of property and equipment (