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Viant Technology (DSP) investor relations material
Viant Technology Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record Q2 2025 results with revenue up 18% year-over-year to $77.9M and contribution ex-TAC up 16%, driven by strong CTV growth and Viant AI adoption.
Adjusted EBITDA rose 18% year-over-year to $11.3M, with a 23% margin, exceeding guidance midpoint by 3%.
CTV ad spend reached a record, accounting for 45% of total ad spend, and a $250M pipeline of new business opportunities was established.
Launched the third phase of the Viant AI suite, focusing on AI Measurement and Analysis, and appointed Brett Wilson to the board to strengthen AI and ad-tech expertise.
Growth was supported by expansion in business services, consumer goods, retail, and healthcare, and continued investment in technology and sales.
Financial highlights
Q2 2025 revenue: $77.9M, up 18% year-over-year; contribution ex-TAC: $48.4M, up 16%; gross profit: $35.9M, up 17%.
Adjusted EBITDA: $11.3M, up 18% year-over-year; margin 23%; non-GAAP net income: $8M, up 11%; non-GAAP EPS: $0.10.
Cash flow from operations: $20.9M–$21M, up 46% year-over-year; cash and equivalents: $172.8M–$173M as of June 30, 2025; no debt.
Non-GAAP operating expenses for Q2 2025 were $37.1M; operating expenses increased 16%–17% year-over-year.
Share repurchases totaled $50.2M since May 2024, with $28.1M–$28.5M in the first half of 2025.
Outlook and guidance
Q3 2025 revenue guidance: $83.5M–$86.5M, up 6% year-over-year at midpoint; contribution ex-TAC: $51M–$53M, up 10%.
Adjusted EBITDA guidance: $14M–$15M, margin expected at 27%–28%; non-GAAP operating expenses: $37M–$38M.
Temporary Q3 headwinds from lapping high political ad spend and loss of a seasonal advertiser, impacting revenue growth by 1,200 bps.
$250M in potential annualized ad spend opportunities from major US advertisers expected to drive accelerating growth in 2026.
Existing cash, cash flow from operations, and undrawn credit facility expected to meet liquidity needs for at least the next 12 months.
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