Viant Technology Inc. (DSP): Results of Operations and Financial Condition
Viant Technology Inc. (DSP) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Viant Technology Announces Second Quarter 2026 Financial Results Achieved record second quarter results across all key metrics Revenue increased 34% year-over-year Contribution ex-TAC increased 24% year-over-year Adjusted EBITDA increased 26% year-over-year CTV adver
How this was made
The 30-second read
Why it matters
The combination of record Q2 performance, CTV spend acceleration, and explicit Q3 ranges provides a concrete basis to adjust near-term expectations for revenue growth and adjusted EBITDA.
Market read
Traders can update DSP’s near-term valuation drivers using the quantified Q2 beats and the provided Q3 revenue, contribution ex-TAC, and adjusted EBITDA guidance ranges.
What to watch
Pre-bid attention intelligence rollout timing and traffic acquisition cost variability could pressure GAAP results even if non-GAAP metrics stay strong.
Achieved record second quarter results across all key metrics; revenue increased 34% year-over-year and Adjusted EBITDA increased 26% year-over-year.
Revenue, contribution ex-TAC and Adjusted EBITDA each increased year-over-year, and management stated that revenue and Adjusted EBITDA exceeded the high point of guidance.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| GAAP RevenueGAAP | $104,254 (in thousands) | – | 34% |
| GAAP Gross profitGAAP | $45,544 (in thousands) | – | 27% |
| GAAP Net income (loss)GAAP | $(1,836) (in thousands) | – | (203)% |
| GAAP Net income (loss) as a percentage of gross profitGAAP | (4)% | – | NM |
| GAAP Net income (loss) attributable to Viant Technology Inc.GAAP | $(111) (in thousands) | – | (138)% |
| GAAP Earnings (loss) per share of Class A common stock—basicGAAP | $(0.01) | – | (150)% |
| GAAP Earnings (loss) per share of Class A common stock—dilutedGAAP | $(0.03) | – | (250)% |
| Contribution ex-TACnon-GAAP | $60,204 (in thousands) | – | 24% |
| Adjusted EBITDAnon-GAAP | $14,208 (in thousands) | – | 26% |
| Adjusted EBITDA as a percentage of contribution ex-TACnon-GAAP | 24% | – | NM |
| Non-GAAP net incomenon-GAAP | $9,869 (in thousands) | – | 23% |
| Non-GAAP earnings per share of Class A common stock—basicnon-GAAP | $0.15 | – | 50% |
| Non-GAAP earnings per share of Class A common stock—dilutednon-GAAP | $0.12 | – | 33% |
| Class A and Class B common shares outstanding (as of June 30)other | 66,455 | – | – |
| Cash and cash equivalents (as of June 30)GAAP | $193,053 (in thousands) | – | – |
| Class A common stock outstanding (as of June 30, 2026)other | 21,052,546 shares | – | – |
| Class B common stock outstanding (as of June 30, 2026)other | 45,402,216 shares | – | – |
| Platform operationsGAAP | $58,710 (in thousands) | – | – |
| Sales and marketingGAAP | $20,474 (in thousands) | – | – |
| Technology and developmentGAAP | $10,840 (in thousands) | – | – |
| General and administrativeGAAP | $18,082 (in thousands) | – | – |
| Six Months Ended June 30 RevenueGAAP | $192,792 (in thousands) | – | – |
| Six Months Ended June 30 Platform operationsGAAP | $110,875 (in thousands) | – | – |
| Six Months Ended June 30 Sales and marketingGAAP | $36,751 (in thousands) | – | – |
| Six Months Ended June 30 Technology and developmentGAAP | $17,978 (in thousands) | – | – |
| Six Months Ended June 30 General and administrativeGAAP | $34,998 (in thousands) | – | – |
Third quarter 2026 outlook
- Revenue$107.5 million to $110.5 million
- Operating expenses$46.5 million to $47.5 million
- NoteContribution ex-TAC in the range of $65.0 million to $67.0 million
- NoteAdjusted EBITDA in the range of $18.5 million to $19.5 million
What drove it
- CTV spend increased nearly 50% year-over-year, represented over 50% of total advertiser spend on the platform, and reached a record high in the second quarter.
- Over 80% of CTV spend was transacted through Direct Access, compared with over 50% in Q1 2026.
- The company began testing TVision's pre-bid attention intelligence in Viant’s technology stack.
- Management stated that integration of TVision's eyes-on-screen attention intelligence is pacing well ahead of initial expectations.
Concerns
- GAAP net income (loss) was $(1,836) (in thousands), compared with $1,787 (in thousands) in the prior-year quarter.
- GAAP net income (loss) attributable to Viant Technology Inc. was $(111) (in thousands), compared with $290 (in thousands) in the prior-year quarter.
- The filing states that future traffic acquisition costs, other platform operations expenses, and stock-based compensation can have a significant and potentially unpredictable impact on future GAAP financial results.
- The forward-looking statements cite risks including programmatic-advertising market development, customer demand and retention, privacy trends and regulations, AI technology, and economic, competitive, governmental and technological factors.
What to watch
- Third-quarter revenue guidance of $107.5 million to $110.5 million.
- Third-quarter contribution ex-TAC guidance of $65.0 million to $67.0 million.
- Third-quarter non-GAAP operating-expense guidance of $46.5 million to $47.5 million.
- Third-quarter Adjusted EBITDA guidance of $18.5 million to $19.5 million.
- Advertiser deployment of the pre-bid attention targeting solution and progress integrating TVision intelligence across the technology stack.
- CTV spend and the share of CTV spend transacted through Direct Access.
Balance sheet and cash flow
- Cash and cash equivalents (as of June 30): $193,053 (in thousands)
Analysis
Viant reported record second-quarter results, with GAAP revenue of $104,254 (in thousands), up 34% year-over-year. Gross profit increased 27% to $45,544 (in thousands), while contribution ex-TAC increased 24% to $60,204 (in thousands). Management characterized the quarter as exceeding the high end of guidance for revenue and Adjusted EBITDA, while contribution ex-TAC was near the high end.
CTV was the central stated demand and mix driver. CTV spend increased nearly 50% year-over-year, represented over 50% of total advertiser spend on the platform, and reached a record high. Direct Access accounted for over 80% of CTV spend, compared with over 50% in Q1 2026. The company also began testing TVision's pre-bid attention intelligence and said its broader technology-stack integration is pacing well ahead of initial expectations.
Profitability was positive on the reported non-GAAP measures but negative on GAAP net income. Adjusted EBITDA increased 26% to $14,208 (in thousands), and Adjusted EBITDA as a percentage of contribution ex-TAC was 24%, compared with 23%. Non-GAAP net income increased 23% to $9,869 (in thousands), but GAAP net income (loss) was $(1,836) (in thousands), compared with $1,787 (in thousands) in the prior-year period.
Operating-cost line items increased year-over-year, including platform operations, sales and marketing, technology and development, and general and administrative expense. The filing cautions that traffic acquisition costs, other platform operations expenses, and stock-based compensation can materially affect future GAAP results. Cash and cash equivalents were $193,053 (in thousands) as of June 30.
For the third quarter, Viant guided revenue to $107.5 million to $110.5 million, contribution ex-TAC to $65.0 million to $67.0 million, non-GAAP operating expenses to $46.5 million to $47.5 million, and Adjusted EBITDA to $18.5 million to $19.5 million. The release does not provide forward GAAP gross profit, total operating expenses, or net income (loss), stating that it cannot reconcile its non-GAAP outlook to corresponding GAAP measures without unreasonable efforts.
Management, verbatim
Viant delivered record second-quarter results, exceeding the high end of our guidance range across both top and bottom lines.
Tim Vanderhook, Co-Founder and CEO
We are seeing strong momentum across our business, as evidenced by the meaningful acceleration in revenue and contribution ex-TAC exhibited in the second quarter. Revenue increased 34%, exceeding the high-point of our guidance, while Contribution ex-TAC increased 24%, near the high-end of our guidance. We increased adjusted EBITDA by 26%, exceeding the high-point of our guidance.
Larry Madden, CFO
Not in the filing
stated, not guessed- Previous-quarter outlook was not provided; therefore, no comparison of actual results with prior guidance is available.
- GAAP operating income and total operating expenses are not available in the provided filing text because the statements-of-operations table is truncated.
- GAAP gross margin is not reported.
- Operating cash flow, free cash flow, debt, dividends, and share repurchases are not reported in the provided filing text.
- Segment revenue is not reported.
- Quarter-over-quarter comparisons are not reported for the financial metrics.
- Third-quarter GAAP gross profit, GAAP gross margin, total operating expenses, net income (loss), and tax-rate guidance are not provided.
- Year-over-year percentage changes are not printed for individual operating-expense line items or six-month operating metrics.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Viant filed an 8-K with Q2 2026 financial results and Item 2.02 disclosure, including non-GAAP metrics and Q3 2026 guidance.
Ticker impact
Viant reported Q2 2026 results with revenue up 34% YoY and guided Q3 2026 revenue to $107.5M-$110.5M.
Likely near-term positive bias as traders reprice growth and margin trajectory toward the high end of guidance.
The filing is a primary earnings-and-guidance disclosure (8-K Item 2.02) with multiple quantified beats (revenue, contribution ex-TAC, adjusted EBITDA) and a full Q3 outlook range.
Market effects
Supports the narrative of accelerating CTV ad spend and AI-driven measurement/targeting adoption in martech/programmatic.
Primarily US advertiser spend and CTV inventory dynamics.
Limited direct global read-through, but reinforces broader AI advertising intelligence demand.
Counterpoint
GAAP net income remains negative, so the stock may be sensitive to any slowdown in CTV spend growth or contribution ex-TAC conversion.
Key entities
- public_companyViant Technology Inc.
AI-powered programmatic advertising platform reporting Q2 2026 results and Q3 2026 guidance.
- product_or_technologyTVision
Attention intelligence capability being integrated into Viant’s stack for pre-bid CTV targeting and measurement.
- personCraig Abrahams
Appointed independent director to Viant’s board.
