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Viant Technology, Inc. (DSP)
:DSP
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Viant Technology
(NASDAQ:DSP)
Rating:65Neutral
Price Target:
$14.50
▲(14.17%Upside)
Positive Factors
Acquisitions
DSP's two recent acquisitions (Iris.tv and Lockr) suggest faster revenue growth.
Earnings
Viant reported strong Q1 results, with revenue, contribution ex-TAC, and adj. EBITDA all coming in ahead of expectations and guidance.
Market Position
DSP reported strong quarterly results with Gross Revenues up 32% year over year.
Negative Factors
Advertising Spend
In early May, a small number of advertisers impacted by either tariffs or supply chain headwinds shifted their spend to the later part of the year.
Stock Price Movement
Despite the strong results and forward outlook, the recent pullback in DSP shares is viewed as a compelling buying opportunity.
Viant Technology (DSP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$794.60M
Dividend YieldN/A
Average Volume (3M)224.00K
Price to Earnings (P/E)421.9
Beta (1Y)1.54
Revenue Growth30.64%
EPS GrowthN/A
CountryUS
Employees383
SectorTechnology
Sector Strength82
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.07
Shares Outstanding15,846,372
10 Day Avg. Volume278,876
30 Day Avg. Volume223,996
Financial Highlights & Ratios
PEG Ratio-4.81
Price to Book (P/B)123.87
Price to Sales (P/S)0.00
P/FCF Ratio538.77
Enterprise Value/Market Cap-0.15
Enterprise Value/Revenue-0.11
Enterprise Value/Gross Profit-0.87
Enterprise Value/Ebitda-2.36
Forecast
1Y Price Target
$21.67Price Target Upside70.63% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
Viant Technology Business Overview & Revenue Model
Company DescriptionViant Technology Inc. is a prominent player in the digital advertising industry, specializing in people-based advertising software. The company operates its flagship product, the Adelphic platform, which is a cloud-based demand-side platform (DSP) that enables marketers to plan, buy, and measure their digital media advertising across various channels, including desktop, mobile, connected TV, and digital audio. Viant Technology serves a diverse range of clients, including brands, agencies, and media buyers, helping them optimize their advertising strategies through data-driven insights and advanced targeting capabilities.
How the Company Makes MoneyViant Technology generates revenue primarily through its Adelphic platform by offering a software-as-a-service (SaaS) model. Clients pay for access to the platform's robust tools and features that facilitate digital ad campaign management and execution. The company earns money through a combination of subscription fees, usage-based fees, and additional service charges for premium features or enhanced data analytics. Viant also benefits from strong partnerships with data providers, media owners, and technology companies, which expand its reach and enhance the capabilities of its platform, thereby attracting more clients and increasing revenue potential.
Viant Technology Earnings Call Summary
Earnings Call Date:May 06, 2025
(Q1-2025)
| % Change Since: -14.82%|
Next Earnings Date:Aug 06, 2025
Earnings Call Sentiment Positive
Viant Technology delivered a strong Q1 with record revenue and significant growth in key areas such as CTV and AI solutions. Despite macroeconomic challenges due to tariffs, the company remains well-positioned for continued growth, supported by a strong financial foundation and strategic initiatives in CTV, addressability, and AI.Q1-2025 Updates
Positive Updates
Record First Quarter Results
Viant Technology delivered record first quarter results, outperforming guidance across all key financial metrics. Revenue increased 32% year-over-year, and contribution ex-TAC increased 25% year-over-year.
Strong Growth in CTV and Addressability Solutions
CTV demand was a major driver of top-line growth, with over 45% of total spend on the platform allocated to CTV. Viant's Addressability Solutions, including Household ID and IRIS ID, also saw significant adoption.
Adjusted EBITDA Growth
Adjusted EBITDA increased 76% year-over-year to $5.4 million in Q1, marking the ninth consecutive quarter of greater than 30% year-over-year growth in adjusted EBITDA.
Successful AI Bidding and Planning
AI Bidding now automates 85% of ad spending, up from 80% in Q4 2024, with contribution ex-TAC from AI Bidding up 75% year-over-year. AI Planning has enabled advertisers to create enterprise-level ad campaigns more efficiently.
Significant New Customer Growth
New customer momentum remains strong, with a 37% increase in the number of customers generating over $1 million in contribution ex-TAC.
Strong Financial Position
Viant ended the quarter with $174 million in cash and no debt, along with a $75 million undrawn credit facility.
Negative Updates
Macroeconomic Uncertainty Due to Tariffs
A small number of advertisers have delayed campaign activations originally planned for Q2, deferring approximately 3% to 4% of expected Q2 revenue and contribution ex-TAC to the second half of 2025 due to recently imposed tariffs.
Limited Exposure in Automotive and Retail Vertical Challenges
Viant has limited exposure to the automotive sector, and some retail advertisers postponed spending due to supply chain impacts from tariffs.
Company Guidance
During Viant Technology's First Quarter 2025 earnings call, the company reported record-breaking results, surpassing guidance across all key financial metrics and setting a strong foundation for the second quarter. Revenue increased by 32% year-over-year, while contribution ex-TAC grew by 25% year-over-year. The company achieved a 76% year-over-year rise in adjusted EBITDA, reaching $5.4 million, marking its ninth consecutive quarter of over 30% year-over-year growth in this metric. Viant's strategic focus on CTV, addressability, and ViantAI has been pivotal, with CTV spend accounting for over 45% of total platform spend in Q1. The guidance for Q2 2025 anticipates revenue between $77 million and $80 million, reflecting a 19% year-over-year growth at the midpoint, and contribution ex-TAC between $47.5 million and $49.5 million, representing a 17% year-over-year growth at the midpoint. Despite macroeconomic uncertainties, including recent tariff announcements, Viant remains confident in its ability to outperform the broader advertising industry.Viant Technology Financial Statement Overview
Summary
Viant Technology shows strong revenue growth and improved profitability with better margins. The balance sheet is stable with low leverage, though return on equity could improve. Cash flow is robust, indicating effective management.Income Statement
Viant Technology shows strong revenue growth, with a significant increase from the previous year. The gross profit margin and net profit margin have improved, indicating enhanced profitability. EBIT and EBITDA margins are also recovering from previous losses, showing a positive trend towards operational efficiency.75
Positive
Balance Sheet
The balance sheet reflects a healthy equity ratio, suggesting good financial stability. The company's debt-to-equity ratio is low, indicating manageable leverage. However, return on equity is modest, suggesting room for improvement in generating returns for shareholders.70
Positive
Cash Flow
Viant Technology exhibits strong operating cash flow relative to net income, indicating effective cash management. Free cash flow remains positive and stable, contributing to the company's financial flexibility. Despite a slight decline, the overall cash flow position is robust.80
Positive
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 306.48M | 289.24M | 222.93M | 197.17M | 224.13M | 165.25M | Gross Profit |
| 139.12M | 132.07M | 102.45M | 80.44M | 94.52M | 76.99M | EBIT |
| 4.31M | 3.48M | -18.30M | -49.26M | -42.80M | 21.77M | EBITDA |
| 16.91M | 19.94M | -3.56M | -36.13M | -31.65M | 31.87M | Net Income Common Stockholders |
| 2.12M | 2.36M | -3.44M | -9.26M | -8.55M | 20.64M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 173.88M | 205.05M | 216.46M | 206.57M | 238.48M | 9.63M | Total Assets |
| 394.51M | 440.80M | 404.91M | 377.88M | 389.13M | 133.52M | Total Debt |
| 24.99M | 26.01M | 25.43M | 28.71M | 17.50M | 23.54M | Net Debt |
| -148.88M | -179.04M | -191.02M | -177.86M | -220.98M | 13.91M | Total Liabilities |
| 137.00M | 166.73M | 130.52M | 112.11M | 106.56M | 113.40M | Stockholders Equity |
| 36.45M | 53.84M | 68.26M | 59.25M | 60.16M | 20.12M |
| Cash Flow | Free Cash Flow | ||||
| 37.21M | 49.27M | 24.28M | -12.36M | 21.29M | 11.03M | Operating Cash Flow |
| 43.48M | 51.77M | 37.75M | -3.53M | 28.66M | 18.88M | Investing Cash Flow |
| -27.72M | -27.74M | -13.48M | -8.83M | -7.37M | -7.84M | Financing Cash Flow |
| -47.94M | -35.43M | -14.39M | -19.55M | 207.56M | -6.22M |
Viant Technology Technical Analysis
Negative
12.70
Price Trends
13.85
Negative
15.65
Negative
15.41
Negative
Market Momentum
-0.36
Positive
40.59
Neutral
22.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DSP, the sentiment is Negative. The current price of 12.7 is below the 20-day moving average (MA) of 13.53, below the 50-day MA of 13.85, and below the 200-day MA of 15.41, indicating a bearish trend. The MACD of -0.36 indicates Positive momentum. The RSI at 40.59 is Neutral, neither overbought nor oversold. The STOCH value of 22.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DSP.
Viant Technology Risk Analysis
Viant Technology disclosed 54 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
Overall Rating
UnderperformOutperform
Sector (69)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $1.46B | 29.03 | 30.85% | 9.13% | 10.07% | 31.38% | |
72 Outperform | $534.84M | 129.95 | 1.94% | ― | 3.62% | -53.21% | |
69 Neutral | ¥226.56B | 14.56 | 7.65% | 2.68% | 9.09% | 8.68% | |
65 Neutral | $794.60M | 421.93 | 4.15% | ― | 30.64% | ― | |
61 Neutral | $167.48M | ― | -22.66% | ― | -25.43% | -135.09% | |
60 Neutral | $212.05M | ― | -27.44% | ― | 16.03% | 30.99% | |
56 Neutral | $537.12M | ― | -46.57% | ― | -2.39% | -2961.26% |
* Technology Sector Average
Performance Comparison
DSP
Viant Technology
12.70
3.57
39.10%
PUBM
PubMatic
11.02
-8.29
-42.93%
FRGE
Forge Global Holdings
17.20
-3.80
-18.10%
SMRT
SmartRent
0.89
-1.47
-62.29%
BMBL
Bumble
5.20
-4.87
-48.36%
KARO
Karooooo
47.34
16.46
53.30%
Viant Technology Corporate Events
Executive/Board ChangesShareholder Meetings
Viant Technology Elects Director, Ratifies Accounting Firm
Neutral
Jun 9, 2025
On June 5, 2025, Viant Technology Inc. held its annual meeting of stockholders, where approximately 95.02% of the voting power was present. During the meeting, Max Valdes was elected as a Class I director to serve until 2028, and Deloitte & Touche LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
The most recent analyst rating on (DSP) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Viant Technology stock, see the DSP Stock Forecast page.
Executive/Board Changes
Viant Technology Appoints Brett Wilson as Director
Positive
May 14, 2025
On May 10, 2025, Viant Technology Inc. announced the election of Brett Wilson as a Class II director, effective May 12, 2025. Mr. Wilson will also join the Audit Committee and participate in the company’s Non-Employee Director Compensation Policy. This appointment is expected to strengthen the company’s governance structure and enhance its operational oversight.
The most recent analyst rating on (DSP) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Viant Technology stock, see the DSP Stock Forecast page.
Stock BuybackFinancial Disclosures
Viant Technology Boosts Stock Repurchase Program by $50M
Positive
May 6, 2025
On May 5, 2025, Viant Technology‘s board of directors approved an increase of $50 million to their stock repurchase program, highlighting their commitment to shareholder returns. The company reported a strong first quarter of 2025, with a 32% increase in revenue and a 76% rise in adjusted EBITDA year-over-year, driven by significant growth in CTV advertiser spend and strategic alignment with digital channels.
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.