Viant Technology Inc. (NASDAQ:DSP) has been making waves as one of the best-performing small-cap tech stocks in the past three years. With a focus on privacy-centric, programmatic advertising, especially in the Connected TV space, Viant leverages proprietary identifiers and ViantAI to optimize targeting and measurement across the open internet.
Following the release of Viant’s Q3 earnings report on November 10, Citizens JMP’s Matthew Condon maintained a “Market Outperform” rating and slightly lowered the price target to $16 from $18. Despite the adjustment, Condon highlighted the strong quarter, noting that the contribution ex-TAC exceeded consensus estimates by around 2% and adjusted EBITDA surpassed the high end of guidance.
Viant reported revenue of $85.6 million, a 7% year-over-year increase, with a contribution ex-TAC of approximately $53 million, up 12% from the previous year. Adjusted EBITDA came in at around $16.0 million, a 9% increase year-over-year, with a 30% margin that exceeded midpoint guidance. Management attributed the outperformance to growing demand in the Connected TV sector, broader adoption of its Household ID / IRIS_ID addressability stack, and new brand wins. Excluding political spend and a seasonal advertiser that transitioned off-platform due to a merger, revenue grew by approximately 19% and contribution ex-TAC by 22%.
Looking ahead, Viant provided guidance for Q4, projecting a contribution ex-TAC of $62–$64 million and adjusted EBITDA of $22.5–$23.5 million. The company remains optimistic about its future prospects, particularly in the rapidly evolving ad-tech landscape.
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In conclusion, Viant Technology Inc. continues to demonstrate its strength and resilience in the competitive tech industry. With a focus on innovative solutions and strategic partnerships, the company is well-positioned for continued growth and success in the evolving digital advertising landscape.
