Viant Technology Inc. Q1 FY2025 earnings call

• Delivered record first quarter results with revenue up 32% YOY and contribution ex-TAC up 25% YOY. - CTV was the strongest driver of top-line growth, with over 45% of total spend on the platform allocated to CTV in Q1. - Viant's Household ID experienced unprecedented demand with ad spend linked to it surging 33% YOY. - ViantAI phases: AI Bidding automates 85% of ad spending, AI Planning launched in Q3 2024, AI Measurement and Analysis launching later in Q2 2025, and AI Decisioning expected in H2 2025. - Commented on Google being affirmed as a monopolist, noting potential opportunities if Google's assets are spun off.

Revenue for the first quarter was $70.6 million, representing a 32% year-over-year increase. Contribution ex-TAC totaled $42.7 million in Q1, up 25% compared to the prior year period. Over 45% of total spend on the platform was allocated to CTV in the first quarter. Viant's Household ID, a patented audience targeting and measurement solution, saw ad spend linked to it surge 33% year-over-year. CTV was the strongest driver of top-line growth, accounting for over 45% of total platform spend, and Household ID boasted availability across roughly 80% of biddable ad inventory.

• Q2 2025 guidance: Revenue of $77 million to $80 million (19% YOY growth at midpoint), contribution ex-TAC of $47.5 million to $49.5 million (17% YOY growth at midpoint), non-GAAP operating expenses of $37 million to $38 million, and adjusted EBITDA of $10.5 million to $11.5 million. - A small number of advertisers delayed campaign activations originally planned for Q2, deferring approximately 3%-4% of expected Q2 revenue and contribution ex-TAC to the second half of 2025.

• Macroeconomic uncertainties, specifically related to recently imposed tariffs, causing some advertisers to delay campaign activations. - Google's monopolist status and potential regulatory actions, though any action to limit Google's market dominance could improve Viant's competitive positioning.

Q: Pricing issue and comparison with competitors.

A: Tim Vanderhook and Chris Vanderhook discussed efficient pricing, not charging for Direct Access, and compared to competitors like Trade Desk, noting issues like incremental fees and opting in to SSP solutions, and Viant's approach to fair pricing and transparency.