Viant Technology (DSP) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 results with revenue up 34% year-over-year to $104.3 million, contribution ex-TAC up 24%, and adjusted EBITDA up 26%, all surpassing guidance.

• Growth was broad-based, led by healthcare, public services, and travel verticals, with CTV spend surging nearly 50% year-over-year and now over 50% of total advertiser spend.

• Adjusted EBITDA margin expanded to 24% of contribution ex-TAC, and non-GAAP net income rose 23% to $9.9 million.

• Integration of TVision's attention intelligence is progressing ahead of expectations, expanding proprietary data and measurement capabilities.

• Recognized with the 2026 CTV Innovation Award and expanded board with Craig Abrahams, bringing M&A and scaling expertise.

Financial highlights

• Q2 2026 revenue: $104.3M (+34% YoY); contribution ex-TAC: $60.2M (+24% YoY); adjusted EBITDA: $14.2M (+26% YoY); gross profit: $45.5M (+27% YoY).

• Non-GAAP net income: $9.9M; non-GAAP EPS: $0.15 (basic), $0.12 (diluted), up from $0.10/$0.09 in Q2 2025.

• Cash and equivalents: $193.1M at quarter end, no debt; free cash flow up 39% YoY to $22.4M.

• Non-GAAP operating expenses: $46M, up 24% YoY, partly due to TVision acquisition.

• Net loss: $(1.8)M in Q2 2026, down from net income of $1.8M in Q2 2025, reflecting higher operating expenses and investments.

Outlook and guidance

• Q3 2026 revenue guidance: $107.5M–$110.5M (+27% YoY); contribution ex-TAC: $65M–$67M (+25% YoY); adjusted EBITDA: $18.5M–$19.5M (+19% YoY), margin expected at 29%.

• Non-GAAP operating expenses projected at $46.5M–$47.5M.

• Expects contribution ex-TAC growth to outpace the U.S. programmatic market (13%) in 2026–2027.

• Targeting consistent 20%+ annual top-line growth and adjusted EBITDA margin expansion, with potential to reach 40%+ margins long-term.

• Management expects continued investment in platform operations, technology, and sales to drive long-term growth.