Viant Technology Announces Third Quarter 2026 Financial Results

Revenue increased 29% year-over-year

Gross profit increased 30% year-over-year

Contribution ex-TAC increased 27% year-over-year

Adjusted EBITDA increased 24% year-over-year

Increased share repurchase authorization by $50 million to $150 million

IRVINE, Calif.--(BUSINESS WIRE)--$DSP #AdTech--Viant Technology Inc. (Nasdaq: DSP), a leader in AI-powered programmatic advertising, today reported financial results for its third quarter ended September 30, 2026.

"Viant delivered record third quarter results, exceeding the high-end of our guidance range for contribution ex-TAC and adjusted EBITDA," said Tim Vanderhook, Co-Founder and CEO of Viant. "Our ongoing momentum can be directly attributed to our recent evolution into a comprehensive advertising intelligence company. Viant is more differentiated than ever before, equipped to empower advertisers of all sizes through proprietary data, independent measurement, efficient supply paths, and advanced AI solutions that work in concert to optimize campaign execution. Building upon this leadership position, we are expanding our suite of services with the acquisition of Waymark, a leading generative AI video creative production technology platform, built to power CTV advertisers. Together, we believe Viant and Waymark will usher in the era of generative ad creative optimization for CTV. By combining Waymark's generative AI with our audience, content, and attention intelligence, we can empower advertisers of all sizes to produce audience tailored, contextually relevant, and attention-optimized creatives in minutes and at a fraction of traditional costs."

Recent Business Highlights:

• Connected TV ("CTV") advertiser spend increased nearly 40% representing over 50% of total advertiser spend on the platform and reached a record high in the third quarter.
• For the second consecutive quarter, over 80% of CTV spend was transacted through Direct Access, a steep increase from over 50% in Q1 2026.
• Established direct integrations with leading AI frontier models, including Claude, ChatGPT, and Cursor, allowing advertisers to manage Viant-powered advertising campaigns through natural language prompts, outside of Viant's user interface, positioning Viant as a ubiquitous, AI enabled partner capable of meeting advertisers wherever they prefer to work.
• Launched the TVision mobile meter, extending attention analytics beyond the TV screen by connecting linear TV and CTV viewership with real-world consumer actions on mobile devices. This innovation bridges ad exposure to digital journeys and purchases, providing advertisers with a unified view of the complete consumer path to conversion.
• Acquired Waymark, a generative AI video creative production technology platform built specifically for Connected TV. Waymark’s generative AI effortlessly converts brand inputs into complete video ads featuring custom scripts, visuals, and voiceovers, enabling Viant to deliver generative ad creative optimization where endless creative variations are generated to meet any target audience.
• Beginning in Q3 and through November 6, 2026, Viant repurchased 1.4 million shares for $18.6 million under its share repurchase program and net settled 0.4 million shares related to vested equity awards for $4.6 million, representing a combined total of 1.8 million shares for $23.2 million, at an average price of $12.82 during the period. Execution against our share repurchase program demonstrates our disciplined approach to capital allocation and strong conviction in the underlying value of our business.
• Our board of directors authorized a $50 million increase to the stock repurchase program, effective November 9, 2026, raising the total share repurchase authorization to $150 million since inception and $70.8 million remaining to be deployed opportunistically.
• Viant was recognized as the winner of the "Best Buy-Side Programmatic Platform", as awarded by the Digiday Technology Awards.

“We delivered strong growth in Q3 and we are carrying that momentum into Q4," said Larry Madden, Chief Financial Officer. "At the midpoint we expect contribution ex-TAC to increase 26% and adjusted EBITDA to increase 27%, resulting in adjusted EBITDA margin expansion to 39%, demonstrating significant operating leverage even as we integrate TVision and Waymark. Growing enterprise relationships and a strong pipeline position us well for continued growth in 2027. The $50 million increase in our share repurchase authorization reflects our confidence in Viant’s long-term business opportunity."

For the fourth quarter 2026, the Company expects:

• Revenue in the range of $130.5 million to $133.5 million
• Contribution ex-TAC in the range of $80.5 million to $82.5 million
• Non-GAAP operating expenses in the range of $49.5 million to $50.5 million
• Adjusted EBITDA in the range of $31.0 million to $32.0 million

At the midpoint of Q4 guidance, the Company expects full-year 2026 revenue of approximately $435 million, up 26% year-over-year, contribution ex-TAC of approximately $259 million, up 24% year-over-year, non-GAAP operating expenses of approximately $184 million, up 22% year-over-year, and adjusted EBITDA of approximately $75 million, up 31% year-over-year.

Contribution ex-TAC, non-GAAP operating expenses, adjusted EBITDA, adjusted EBITDA as a percentage of contribution ex-TAC, non-GAAP net income, and non-GAAP earnings (loss) per share of Class A common stock—basic and diluted are non-GAAP financial measures. These non-GAAP financial measures should be considered in addition to, but not as a substitute for, the information provided in accordance with U.S. generally accepted accounting principles ("GAAP"). Reconciliations of these non-GAAP financial measures to Viant’s financial results as determined in accordance with GAAP are included at the end of this press release under “Reconciliation of Non-GAAP Financial Measures.” For a description of these non-GAAP financial measures, including the reasons management uses each measure, please see “Non-GAAP Financial Measures” in this press release. We are not able to estimate gross profit, total operating expenses or net income (loss) on a forward-looking basis or reconcile the guidance provided for contribution ex-TAC, non-GAAP operating expenses, or adjusted EBITDA to the closest corresponding GAAP financial measures on a forward-looking basis without unreasonable efforts due to the variability and complexity with respect to the charges excluded from these non-GAAP financial measures; in particular, the impact of future traffic acquisition costs and other platform operations expenses, as well as the measures and effects of our stock-based compensation related to equity grants that are directly impacted by unpredictable fluctuations in our share price and the potential forfeitures of equity grants. We expect the variability of the above charges could have a significant and potentially unpredictable impact on our future GAAP financial results.

Supplemental Financial and Other Information:

Supplemental financial and other information can be accessed through Viant’s Investor Relations website at investors.viantinc.com.

As of September 30, 2026, there were 21,209,646 shares of the Company's Class A common stock outstanding and 45,289,716 shares of the Company's Class B common stock outstanding. For more information, please refer to our Quarterly Report on Form 10-Q expected to be filed with the Securities and Exchange Commission ("SEC") on November 9, 2026.

Conference Call and Webcast Details:

Viant will host a conference call and webcast to discuss its financial results on Monday, November 9, 2026 at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). A live webcast of the call can be accessed from Viant’s Investor Relations website. An archived version of the webcast will be available from the same website after the call. Viant Technology has used, and intends to continue to use, the “Investor Relations” section of its website at investors.viantinc.com, its LinkedIn account, the LinkedIn account of its Chief Executive Officer, Tim Vanderhook, the LinkedIn account of its Chief Operating Officer, Chris Vanderhook, its X (formerly known as Twitter) account (@viant_tech), and Chris Vanderhook's X account (@cvanderhook) to post information that may be important to investors. Investors and potential investors are encouraged to consult Viant Technology’s website and the foregoing LinkedIn and X accounts regularly for important information.

About Viant

Viant Technology (Nasdaq: DSP) is an exclusively buy-side, AI-powered advertising platform purpose-built for CTV. Viant uniquely combines proprietary content intelligence, household-level identity resolution, and person-level attention signals to connect advertisers with real customers and drive measurable outcomes across the open internet. Through its award-winning AI solutions, Viant is building the future of autonomous advertising, where AI doesn’t just assist the campaign, it delivers real results. Learn more at viantinc.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.

Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “guidance,” “believe,” “expect,” “estimate,” “commit,” “ensure,” “target,” “project,” “plan,” “will,” or words or phrases with similar meaning.

Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements contained in this press release relate to, among other things, Viant’s projected financial performance and operating results, including our guidance and/or long-term targets for revenue, contribution ex-TAC, non-GAAP operating expenses, and adjusted EBITDA, as well as statements regarding Viant’s growth prospects and drivers, it's competitive position, stock repurchases, strategic priorities, pipeline opportunities including potential enterprise clients, and benefits of Viant's offerings. Forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, the market for programmatic advertising may develop slower or differently than Viant’s expectations, the demands and expectations of customers, the ability to attract and retain customers, the impact of information and data privacy trends and regulations on our business and competitors, risks related to the use of artificial intelligence technologies, and other economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from the forward-looking statements. Investors are referred to our filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and subsequent Quarterly Reports on Form 10-Q, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement. We do not intend and undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Non-GAAP Financial Measures

To provide investors and others with additional information regarding Viant’s results, we have included in this press release the following financial measures that are not calculated in accordance with GAAP: contribution ex-TAC, non-GAAP operating expenses, adjusted EBITDA, adjusted EBITDA as a percentage of contribution ex-TAC, non-GAAP net income (loss) and non-GAAP earnings (loss) per share of Class A common stock—basic and diluted. The Company’s management believes that this information can assist investors in evaluating the Company’s operational trends, financial performance, and cash generating capacity. Management believes these non-GAAP financial measures allow investors to evaluate the Company’s financial performance using some of the same measures as management.

Contribution ex-TAC is a non-GAAP financial measure. Gross profit is the most comparable GAAP financial measure, which is calculated as revenue less platform operations expense. In calculating contribution ex-TAC, we add back other platform operations expense to gross profit. Contribution ex-TAC is a key profitability measure used by our management and board of directors to understand and evaluate our operating performance and trends, develop short- and long-term operational plans and make strategic decisions regarding the allocation of capital. “Traffic acquisition costs” or “TAC” represents amounts incurred and payable to suppliers for the cost of advertising media, third-party data and other add-on features related to our fixed cost per mille pricing option and certain arrangements related to our percentage of spend pricing option. In particular, we believe that contribution ex-TAC can provide a measure of period-to-period comparisons for all pricing options within our business. Accordingly, we believe that this measure provides information to investors and the market in understanding and evaluating our operating results in the same manner as our management and board of directors.

Non-GAAP operating expenses is a non-GAAP financial measure. Total operating expenses is the most comparable GAAP financial measure. Non-GAAP operating expenses is defined by us as total operating expenses plus other expense, net, less TAC, stock-based compensation, depreciation, amortization, and certain other items that are not related to our core operations, such as acquisition and restructuring costs and non-operational media purchases. Non-GAAP operating expenses is a key component in calculating adjusted EBITDA, which is one of the measures we use to provide our business outlook to the investment community. Additionally, non-GAAP operating expenses is used by our management and board of directors to understand and evaluate our operating performance and trends, to prepare and approve our annual budget and to develop short- and long-term operational plans. We believe that the elimination of TAC, stock-based compensation, depreciation, amortization and certain other items not related to our core operations provides another measure for period-to-period comparisons of our business, provides additional insight into our core controllable costs, and is a useful metric for investors because it allows them to evaluate our operational performance in the same manner as our management and board of directors.

Media Contact:
Marielle Lyon
press@viantinc.com

Investor Contact:
Nick Zangler
nzangler@viantinc.com