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DSP

Viant Technology Inc.

DSP

Viant Technology Inc. • NASDAQ
$10.61 ▲ 1.43% (+0.15)
Market Cap $172.23 M
52w High $26.33
52w Low $8.11
Dividend Yield 0%
P/E 106.1
Volume 61.19K
Outstanding Shares 16.23M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $85.582M ▲ $35.608M ▼ $5.153M ▲ 6.021% ▲ $0.06 ▲ $10.501M ▲
Q2-2025 $77.853M ▲ $35.871M ▲ $290K ▲ 0.372% ▲ $0.018 ▲ $4.571M ▲
Q1-2025 $70.642M ▼ $35.421M ▼ $-1.19M ▼ -1.685% ▼ $-0.072 ▼ $-535K ▼
Q4-2024 $90.054M ▲ $36.587M ▲ $1.747M ▲ 1.94% ▲ $0.11 ▼ $10.013M ▲
Q3-2024 $79.922M $31.286M $1.507M 1.886% $0.4 $8.076M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $161.286M ▼ $395.886M ▼ $137.476M ▼ $23.319M ▼
Q2-2025 $172.816M ▼ $397.972M ▲ $142.369M ▲ $27.477M ▼
Q1-2025 $173.878M ▼ $394.515M ▼ $137M ▼ $36.451M ▼
Q4-2024 $205.048M ▼ $440.804M ▲ $166.729M ▲ $53.839M ▼
Q3-2024 $214.632M $429.741M $152.517M $59.421M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $996K ▼ $3.049M ▼ $-4.872M ▲ $-9.707M ▲ $-11.53M ▼ $2.823M ▼
Q2-2025 $1.787M ▲ $20.934M ▲ $-8.528M ▼ $-13.468M ▲ $-1.062M ▲ $16.135M ▲
Q1-2025 $-3.307M ▼ $-4.452M ▼ $-4.038M ▲ $-22.68M ▼ $-31.17M ▼ $-8.175M ▼
Q4-2024 $1.747M ▼ $16.491M ▼ $-14.323M ▼ $-11.752M ▼ $-9.584M ▼ $16.273M ▲
Q3-2024 $6.458M $17.069M $-4.663M $-7.518M $4.888M $12.406M

Five-Year Company Overview

Income Statement

Income Statement Viant’s revenue has been on a steady upward path over the last few years, showing that advertisers are increasingly using its platform. Profitability has also improved meaningfully: the company moved from notable operating losses to roughly break-even results, with a small positive contribution from EBITDA and net income in the most recent year. Gross margins have stayed healthy, suggesting the core business model is sound. The main story here is one of a young public company working through its investment phase and gradually bringing expenses in line with its growing scale. That said, profits are still thin, so performance remains sensitive to any slowdown in ad spending or missteps in cost control.

Balance Sheet

Balance Sheet The balance sheet looks relatively conservative. Cash makes up a large portion of total assets, giving Viant a solid liquidity cushion and flexibility to keep investing in the platform. Debt levels are low and stable, which reduces financial risk and interest burden. Shareholders’ equity has grown over time, reflecting accumulated investment and the move away from losses, but it’s still modest, consistent with a smaller, growing tech company. Overall, the company appears financially sturdy for its size, but not yet at the stage where it has a large capital base or excess resources to absorb major shocks.

Cash Flow

Cash Flow Cash generation has moved in the right direction. Operating cash flow has turned consistently positive, indicating that the underlying business is now funding itself rather than relying mainly on outside capital. Free cash flow is also positive and improving, helped by relatively light spending on equipment and infrastructure. This pattern suggests the business model is becoming more efficient and that the company can invest in growth while still keeping cash flow healthy. However, the cash flows are not yet large, so they could swing if growth stalls or if the company decides to accelerate spending again.

Competitive Edge

Competitive Edge Viant operates in a very competitive ad-tech space, but it has carved out a differentiated niche. Its demand-side platform is independent, meaning it doesn’t own media properties, which can be attractive to advertisers who want neutral partners. The company’s emphasis on people-based, cookieless targeting and its proprietary Household ID technology directly address one of the industry’s biggest structural shifts: the move away from third-party cookies and toward privacy-focused targeting. Strong integrations with data partners and a growing presence in connected TV also strengthen its position. The main risk is that it competes against much larger, well-funded rivals, so execution, product performance, and customer service have to stay strong to maintain and grow share.

Innovation and R&D

Innovation and R&D Innovation is a clear focal point. Viant is investing heavily in its AI-powered ViantAI suite, which aims to make campaign setup, optimization, and measurement more automated and user-friendly. Features like natural language campaign setup and AI-driven bidding are designed to simplify a complex process and improve results for marketers. The cookieless, people-based Household ID system is another key innovation that could gain more traction as traditional tracking methods fade. The roadmap toward a more autonomous DSP, new measurement tools, and deeper connected TV integrations shows an ambitious R&D agenda. The opportunity is substantial, but there is execution risk: delivering on these promises, scaling adoption, and staying ahead of both technology changes and regulatory shifts will be crucial.

Summary

Overall, Viant looks like a maturing ad-tech platform company that has moved from early-stage losses toward break-even and modest profitability, supported by a solid cash position and improving cash flows. Its strategy is tightly aligned with industry trends: cookieless advertising, connected TV, and AI-driven automation. The company’s strengths lie in its differentiated technology, independence, and focus on privacy-friendly, people-based targeting. On the other hand, it operates in a crowded, fast-changing market against large incumbents, with relatively thin margins and a still-developing scale. Future performance will likely hinge on its ability to convert its innovation pipeline and business leads into durable, profitable growth while maintaining financial discipline.

NEWS

November 24, 2025 · 4:29 PM UTC

Viant to Participate in Upcoming Investor Conferences

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November 10, 2025 · 4:05 PM UTC

Viant Technology Announces Third Quarter 2025 Financial Results

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November 6, 2025 · 9:03 AM UTC

Viant Expands Direct Access in CTV with Magnite SpringServe Integration

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November 5, 2025 · 9:03 AM UTC

Viant Named the Ad Platform Partner for Molson Coors

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November 3, 2025 · 4:05 PM UTC

Viant to Participate in Upcoming Investor Conferences

Read more