Viant Technology Inc. Q2 FY2025 earnings call

• Achieved excellent Q2 results with revenue up 18% Y/Y and adjusted EBITDA up 18% to $11.3M. - Advanced CTV Direct Access premium publisher program with new integrations. - Expanded addressability solutions like Household ID and IRIS_ID. - Launched third phase of ViantAI product suite (AI Measurement and Analysis). - Engaging with major U.S. advertisers and expanding addressable market beyond mid-market. - ViantAI enables expansion into larger U.S. advertisers and data-driven advertisers.

Revenue for the second quarter was $77.9 million, representing an 18% year-over-year increase. Contribution ex-TAC totaled $48.4 million in Q2, up 16% compared to the prior year period. CTV was the strongest driver of top line growth, accounting for approximately 45% of total ad spend on the platform in the first half of 2025. The addressability solutions like Household ID and IRIS_ID saw expansion, and the ViantAI product suite advanced with the launch of phases including AI Measurement and Analysis.

• Q3 2025 guidance: Revenue $83.5M-$86.5M, up 6% Y/Y; contribution ex-TAC $51M-$53M, up 10% Y/Y. - Headwinds from political ad spend comp (≈400 basis points headwind to contribution ex-TAC growth) and agency client loss (≈600 basis points impact on contribution ex-TAC growth). - Midpoint of guidance is strong with over $250M of potential annualized ad spend opportunities from major U.S. advertisers for 2026.

• Temporary disruptions from economic policy actions causing 3 advertisers to pause campaigns, creating headwinds to revenue and contribution ex-TAC growth. - Impact from agency client loss with seasonality affecting Q3 but minimal impact on future quarters. - Competition from other DSPs and walled gardens like Amazon, which may pose challenges in certain advertiser verticals.

Q: How is Viant standing out against a crowded market with its new solutions, and what's involved in the sales team switch to go upmarket?

A: Tim Vanderhook mentioned Viant has an advantage with patented Household ID for addressability and measurement. Chris Vanderhook said the sales team is expanding to target larger customers, with existing sales force handling initial large customer opportunities and incremental hiring for enterprise team.

Q: Expand on the $250 million ad spend and what features of ViantAI are attractive to larger marketers?

A: Chris Vanderhook said AI Bidding is a key feature with 46% savings in media costs, which is attractive to larger marketers as it helps with market share growth even with potentially lower budgets.

Q: What's the cadence of ViantAI features like Planning, Measurement, and Decisioning?

A: Tim Vanderhook said Planning aims for similar adoption as Bidding over 2 years, Measurement and Analysis should have daily/weekly usage, and Decisioning aims for 100% adoption over 2 years from launch.

Q: What about the $250 million gross spend and onboarding clients?

A: Chris Vanderhook said the $250 million is 2026 budgets, with clients having different seasonality, and onboarding usually takes 1-2 quarters to reach run rate.