Revenue growth of 32% and gross profit growth of 30% year-over-year

Contribution ex-TAC growth of 25% and adjusted EBITDA growth of 76% year-over-year

CTV eclipsed 45% of total advertiser spend(1)

Increased share repurchase authorization by $50 million, underscoring continued commitment to shareholder returns

IRVINE, Calif.: Viant Technology Inc. (Nasdaq: DSP), a leader in AI-powered programmatic advertising, today reported financial results for its first quarter ended March 31, 2025.

"Viant delivered record first quarter results, with revenue, contribution ex-TAC and adjusted EBITDA surpassing the high end of our guidance for the quarter," said Tim Vanderhook, Co-Founder and CEO, Viant. "We are exhibiting secular growth, propelled by a strategic alignment to proliferating digital channels including CTV, streaming audio and digital-out-of-home, which collectively represent the majority of advertiser spend on our platform. At the same time, utilization of Viant's industry leading audience and contextual addressability solutions, Household ID and IRIS ID, continues to ramp, and ViantAI remains in the early stages of adoption. With unique exposure to secular tailwinds and differentiated technology, we believe Viant is well positioned to outperform the broader advertising industry."

Recent Business Highlights:

• Connected TV ("CTV") eclipsed 45% of total advertiser spend on the platform in the first quarter, reaching a new all-time high as a percent of total advertiser spend.
• Generated adjusted EBITDA growth of 76% and expanded adjusted EBITDA as a percentage of contribution ex-TAC by 360 basis points year-over-year.
• Purchased 3.5 million shares of Class A common stock from May 1, 2024 through May 2, 2025 for a total of $46.5 million, including $24.9 million year-to-date through May 2, 2025.
• Approved an increase to the existing share repurchase program on May 5, 2025, enabling the Company to repurchase up to an additional $50 million of the Company's common equity.
• Winner of the AI Excellence Award for ViantAI, as part of the 2025 Artificial Intelligence Excellence Awards, presented by the Business Intelligence Group.

"We continued to build momentum in the first quarter," stated Larry Madden, CFO of Viant. "Contribution ex-TAC increased 25% year-over-year, marking our seventh consecutive quarter of growth above 20%. Concurrently, adjusted EBITDA increased 76% year-over-year and has grown by more than 30% for nine consecutive quarters. Given our confidence in the trajectory of the business, coupled with recent stock market volatility, we seized the opportunity to repurchase 1.8 million shares year-to-date, deploying $24.9 million through our buyback program."

For the second quarter 2025, the Company expects:

• Revenue in the range of $77.0 million to $80.0 million
• Contribution ex-TAC in the range of $47.5 million to $49.5 million
• Non-GAAP operating expenses in the range of $37.0 million to $38.0 million
• Adjusted EBITDA in the range of $10.5 million to $11.5 million

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 March 31, 2025, there were 16,415,283 shares of the Company's Class A common stock outstanding and 46,720,212 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 May 6, 2025.

Conference Call and Webcast Details:

Viant will host a conference call and webcast to discuss its financial results on Tuesday, May 6, 2025 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 Inc. (NASDAQ: DSP) is a leader in AI-powered programmatic advertising, dedicated to driving innovation in digital marketing. Viant’s omnichannel platform built for CTV allows marketers to plan, execute and measure their campaigns with unmatched precision and efficiency. With the launch of ViantAI, Viant is building the future of fully autonomous advertising solutions, empowering advertisers to achieve their boldest goals. Viant was recently awarded Best Demand-Side Platform by MarTech Breakthrough, Great Place to Work® certification and received the Business Intelligence Group’s AI Excellence Award. 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,” “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 for revenue, contribution ex-TAC, non-GAAP operating expenses, and adjusted EBITDA, as well as statements regarding Viant’s momentum, growth prospects and drivers, strategy, repurchases of stock under the stock repurchase program and anticipated performance against the broader advertising industry in a period of macroeconomic uncertainty. 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 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, 2024 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.

	Three Months Ended March 31,
	2025			2024
Stock-based compensation:
Platform operations	$	892		$	406
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