Viant Technology Inc. · NASDAQ:DSP
Viant Technology — Q3 2026 Earnings Presentation
20 slides from Viant Technology's earnings presentation, Nov 9, 2026
Slide 1: Q3 2026 Earnings Presentation
Q3 2026 EARNINGS PRESENTATION November 9, 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 Q3 2026
HIGHLIGHTS Q3 2026 ▪ Revenue, contribution ex-TAC, and adjusted EBITDA all achieved new Q3 records REVENUE ▪ Contribution ex-TAC and adjusted EBITDA exceeded the high-point of our guidance; revenue was slightly below the high end of our guidance +29% YoY ▪ Delivered strong performance across most cu
Slide 4: Strong Performance Q3 2026 vs. Guidance
STRONG PERFORMANCE Q3 2026 VS. GUIDANCE Q3 Guidance Q3 Actual Q3 Better / (Worse) Midpoint(1) Revenue $109.0 $110.4 $1.4 Contribution ex-TAC $66.0 $67.2 $1.2 Non-GAAP Operating Expenses $47.0 $47.4 $(0.4) Adjusted EBITDA $19.0 $19.8 $0.8 (2) Adjusted EBITDA Margin 29% 29% 1% ▪ Contribution ex-TAC, n
Slide 5: Revenue & Contribution ex-TAC
REVENUE & CONTRIBUTION EX-TAC REVENUE CONTRIBUTION EX-TAC +29% YoY +27% YoY $110.4 $67.2 $85.6 $53.0 Q3-25 Q3-26 Q3-25 Q3-26 ▪ Revenue increased 29% YoY and 6% sequentially to $110.4 million and contribution ex-TAC increased 27% YoY and 12% sequentially to $67.2 million, with both reaching new quart
Slide 6: Non-GAAP Operating Expenses & Adjusted EBITDA
NON-GAAP OPERATING EXPENSES & ADJUSTED EBITDA NON-GAAP OPERATING EXPENSES ADJUSTED EBITDA +28% YoY +24% YoY $47.4 $37.0 $19.8 $16.0 Q3-25 Q3-26 Q3-25 Q3-26 ▪ Non-GAAP operating expenses increased 28% YoY to $47.4 million ▪ Excluding acquisitions, non-GAAP operating expenses increased 19% YoY and 1%
Slide 7: Financial Performance Snapshot
FINANCIAL PERFORMANCE SNAPSHOT Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Revenue $70.6 $77.9 $85.6 $110.1 $88.5 $104.3 $110.4 Contribution ex-TAC $42.7 $48.4 $53.0 $64.6 $50.3 $60.2 $67.2 Non-GAAP operating expenses $37.3 $37.1 $37.0 $39.8 $40.5 $46.0 $47.4 Adjusted EBITDA $5.4 $11.3 $16.0 $24.7 $9.
Slide 8: Guidance Ranges Q4 2026
GUIDANCE RANGES Q4 2026 (1) % YoY Change at Q4 2026 Guidance Midpoint Revenue $130.5 - $133.5 20% Contribution ex-TAC $80.5 - $82.5 26% Non-GAAP Operating Expenses $49.5 - $50.5 25% Adjusted EBITDA $31.0 - $32.0 27% Adjusted EBITDA Margin (2) 39% - 39% n/a ▪ Midpoint of our Q4 guidance reflects cont
Slide 9: Valuation and Shares Outstanding
VALUATION AND SHARES OUTSTANDING Basic Share Count Enterprise Value Class A shares 21.2 Share price (11/6/2026) $ 12.85 Class B shares 45.3 Total Class A and Class B shares outstanding(1) 66.5 Total Class A and Class B shares outstanding(1) 66.5 Market capitalization $ 854.5 Plus: Debt - Less: Cash(
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 Q3-26 (Unaudited, in thousands) Revenue $ 70,642 $ 77,853 $ 85,582 $ 110,124 $ 88,538 $ 104,254 $ 110,428 Less: Platform operations (40,080) (41,970) (45,743) (58,823) (52,165) (58,710) (58,820) Gros
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 Q3-26 (Unaudited, in thousands) Operating expenses: Platform operations $ 40,080 $ 41,970 $ 45,743 $ 58,823 $ 52,165 $ 58,710 $ 58,820 Sales and marketing 14,229 15,484 16,740 18,348 16,277 20,474
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 Q3-26 (Unaudited, in thousands) Net income (loss) $ (3,307) $ 1,787 $ 5,153 $ 20,463 $ (2,190) $ (1,836) $ 2,618 Add back (less): Interest income, net (1,724) (1,484) (1,463) (1,428) (1,362) (1,254) (1,401) Pr
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 Q3-26 (Unaudited, in thousands ex cept percentages) Gross profit $ 30,562 $ 35,883 $ 39,839 $ 51,301 $ 36,373 $ 45,544 $ 51,608 Net income (loss) $ (3,307)
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 Nine Months Ended September 30, September 30, 2026 2025 2026 2025 (Unaudited, in thousands) Net income (loss) $ 2,618 $ 5,153 $ (1,408) $ 3,633 Add back (less): Stock-based compensation 10,365 6,428 26,892 18,410 Acquisiti
Slide 17: Stock-Based Compensation
STOCK-BASED COMPENSATION Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 (Unaudited, in thousands) Stock-based compensation: Platform operations $ 992 $ 1,025 $ 2,635 $ 2,915 Sales and marketing 3,319 1,770 9,026 5,089 Technology and development 2,766 1,091 6,209
Slide 18: Depreciation and Amortization
DEPRECIATION AND AMORTIZATION Three Months Ended Nine Months Ended September 30, September 30, 2026 2025 2026 2025 (Unaudited, in thousands) Depreciation and amortization: Platform operations $ 4,996 $ 3,760 $ 14,574 $ 11,006 Sales and marketing 127 81 353 234 Technology and development 494 873 1,47
Slide 19: Contribution ex-TAC per Employee
CONTRIBUTION EX-TAC PER EMPLOYEE Trailing Twelve Months Ended September 30, 2026 2025 Change (%) (Unaudited, in thousands, ex cept percentages and headcount) Contribution ex-TAC $ 242,295 $ 198,450 22% (1) Headcount 430 382 13% Contribution ex-TAC per employee $ 563 $ 520 8% ▪ While continuing to in
Slide 20: Reconciliation of Net Cash from Operating Activities to Free Cash Flow
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW Nine Months Ended September 30, 2026 2025 Change ($) Change (%) (Unaudited, in thousands, ex cept percentages) Net cash provided by operating activities $ 35,713 $ 19,531 $ 16,182 83% Less: Purchases of property and equipm