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Viant Technology
(NASDAQ:DSP)
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Rating:72Outperform
Price Target:
$14.00
▲(12.63% Upside)
Action:Reiterated
Date:10/08/26
The score is driven primarily by strong cash flow and a low-leverage balance sheet, reinforced by a bullish earnings-call outlook with strong Q3 growth and EBITDA guidance. Offsetting factors are thin/volatile GAAP profitability and a relatively expensive valuation (P/E ~30), while technical indicators are supportive but mixed (neutral RSI and slightly negative MACD).
Positive Factors
Strong cash generation and balance sheet
Robust operating and free cash flow gives Viant internal funding capacity for product development, acquisitions, and market expansion. Combined with conservative leverage, this supports resilience through advertising cycles and preserves flexibility for longer-term capital allocation.
Negative Factors
Thin and volatile GAAP profitability
Low current net profitability leaves Viant with less earnings cushion if revenue growth moderates or costs rise. Volatile margins also make results less predictable and increase the importance of sustained scale, disciplined spending, and successful monetization of newer products.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation and balance sheet
Robust operating and free cash flow gives Viant internal funding capacity for product development, acquisitions, and market expansion. Combined with conservative leverage, this supports resilience through advertising cycles and preserves flexibility for longer-term capital allocation.
Read all positive factors
Viant Technology (DSP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$918.35M
Dividend YieldN/A
Average Volume (3M)563.96K
Price to Earnings (P/E)32.5
Beta (1Y)1.55
Revenue Growth21.99%
EPS Growth271.66%
CountryUS
Employees470
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.43
Shares Outstanding21,184,101
10 Day Avg. Volume363,240
30 Day Avg. Volume563,961
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)2.41
Price to Sales (P/S)0.57
P/FCF Ratio3.83
Enterprise Value/Market Cap0.93
Enterprise Value/Revenue2.21
Enterprise Value/Gross Profit4.96
Enterprise Value/Ebitda32.53
Forecast
1Y Price Target
$19.39Price Target Upside55.98% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)0.18
Revenue Forecast (FY)$257.46M
Viant Technology Business Overview & Revenue Model
Company Description
Viant Technology Inc. specializes in providing advanced advertising technology solutions. Among its key offerings is ViantAI, an artificial intelligence product suite. The company also provides Holistic, an integrated Omnichannel Demand-Side Platf...
How the Company Makes Money
Viant primarily makes money by enabling programmatic advertising transactions through its DSP and related products, earning revenue tied to customers’ use of the platform and the media purchased through it. Its core revenue stream is platform-base...
Viant Technology Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 09, 2026
Earnings Call Sentiment Positive
The call emphasizes strong, broad-based operational momentum with record Q2 revenue, accelerating contribution ex-TAC, expanding profitability, robust cash generation and a deepening pipeline driven by CTV, proprietary data (Household ID, IRIS Content ID) and AI (Outcomes/Lattice Brain). Near-term headwinds include margin drag and expense growth tied to the TVision acquisition and the fact that some strategic initiatives (TVision revenue, Outcomes scale) are still early-stage. Overall, positive execution and outlook outweigh the short-term integration and scaling risks.Positive Updates
Record Revenue Growth
Q2 revenue of $104.3M, up 34% year-over-year and 18% sequentially, exceeding the high end of quarterly guidance by ~3%.
Negative Updates
Near-Term Margin Drag from TVision Acquisition
Acquisition of TVision increased non-GAAP operating expenses and acted as a headwind to margins: estimated ~150 basis point drag on EBITDA margins in Q2 and ~200 basis point drag baked into Q3 guidance.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Revenue Growth
Q2 revenue of $104.3M, up 34% year-over-year and 18% sequentially, exceeding the high end of quarterly guidance by ~3%.
Read all positive updates
Company Guidance
Viant guided Q3 2026 revenue of $107.5–$110.5M (≈+27% YoY, +5% sequential at the midpoint), contribution ex‑TAC of $65–$67M (+25% YoY, +10% q/q at midpoint), non‑GAAP operating expenses of $46.5–$47.5M (+27% YoY, +2% q/q at midpoint) and adjusted EBITDA of $18.5–$19.5M (+19% YoY, +34% q/q at midpoint), implying an adjusted‑EBITDA margin of ~29% of contribution ex‑TAC at the midpoint; management said the midpoint assumes record Q3 performance, expects the TVision acquisition to be roughly a 200‑bp drag on Q3 margins, believes contribution ex‑TAC will continue to outpace the broader programmatic market (~13%), and reiterated longer‑term goals of consistent 20%+ annual top‑line growth with an opportunity to reach ~40%+ adjusted‑EBITDA margins over the next several years.Viant Technology Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
76
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 388.50M | 344.20M | 289.24M | 222.93M | 197.17M | 224.13M |
| Gross Profit | 173.06M | 157.59M | 132.07M | 102.45M | 80.44M | 94.52M |
| EBITDA | 26.39M | 30.78M | 29.56M | 5.34M | -36.44M | -25.60M |
| Net Income | 8.69M | 8.35M | 2.36M | -3.44M | -11.91M | -7.74M |
Balance Sheet | ||||||
| Total Assets | 498.44M | 474.66M | 440.80M | 404.91M | 377.88M | 389.13M |
| Cash, Cash Equivalents and Short-Term Investments | 193.05M | 191.15M | 205.05M | 216.46M | 206.57M | 238.48M |
| Total Debt | 22.14M | 21.75M | 26.01M | 25.43M | 28.71M | 17.50M |
| Total Liabilities | 179.61M | 185.86M | 166.73M | 130.52M | 112.11M | 106.56M |
| Stockholders Equity | 113.45M | 82.14M | 53.84M | 68.26M | 59.25M | 60.16M |
Cash Flow | ||||||
| Free Cash Flow | 54.18M | 51.68M | 49.27M | 36.56M | -4.29M | 21.29M |
| Operating Cash Flow | 67.39M | 52.61M | 51.77M | 37.75M | -3.53M | 28.66M |
| Investing Cash Flow | -35.09M | -22.34M | -27.74M | -13.48M | -8.83M | -7.37M |
| Financing Cash Flow | -12.06M | -44.16M | -35.43M | -14.39M | -19.55M | 207.56M |
Viant Technology Technical Analysis
Positive
12.43
Price Trends
12.70
Positive
12.38
Positive
11.71
Positive
Market Momentum
0.27
Negative
61.75
Neutral
89.59
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DSP, the sentiment is Positive. The current price of 12.43 is below the 20-day moving average (MA) of 12.83, below the 50-day MA of 12.70, and above the 200-day MA of 11.71, indicating a bullish trend. The MACD of 0.27 indicates Negative momentum. The RSI at 61.75 is Neutral, neither overbought nor oversold. The STOCH value of 89.59 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DSP.
Viant Technology Risk Analysis
Viant Technology disclosed 57 risk factors in its most recent earnings report. Viant Technology reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Viant Technology Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $724.09M | 12.62 | 18.41% | ― | 20.55% | ― | |
72 Outperform | $918.35M | 32.54 | 11.42% | ― | 21.99% | 271.66% | |
72 Outperform | $785.28M | -57.47 | -5.41% | ― | -1.04% | -710.67% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $1.20B | -43.65 | -14.77% | ― | 19.24% | 60.41% | |
43 Neutral | $7.13M | -1.44 | -43.78% | ― | -46.61% | 7.26% | |
41 Neutral | $4.51M | -0.54 | 127.50% | ― | ― | ― |
* Technology Sector Average
DSP
Viant Technology
13.81
4.73
52.09%
INUV
Inuvo
0.43
-2.49
-85.21%
APPS
Digital Turbine
9.86
3.13
46.51%
PUBM
PubMatic
17.24
8.46
96.36%
MNTN
MNTN, Inc Class A
9.68
-8.27
-46.07%
KNRX
Knorex Ltd. Class A
0.18
-1.99
-91.89%
Viant Technology Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Viant Withdraws Planned Equity Offering Amid Market Volatility
Neutral
Sep 18, 2026
On September 17, 2026, Viant Technology Inc. and a selling stockholder decided not to move forward with a previously announced underwritten public offering of 8,500,000 shares of Class A common stock, along with a 30-day option for underwriters to...
Business Operations and StrategyExecutive/Board Changes
Viant Technology Appoints Craig Abrahams to Board
Positive
Aug 10, 2026
On August 5, 2026, Viant Technology Inc.’s Board of Directors elected Craig Abrahams as a Class I director, with his appointment becoming effective on August 10, 2026. Abrahams was also named to the Board’s Audit Committee, strengtheni...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.