DSP

MKT CAP:$663M

Viant Technology Inc.

Market Cap

$663M

Technology·Software - Application·🇺🇸 United States·NASDAQ

Technology·Software App·🇺🇸·NASDAQ

Stock Price

$11.61+$0.01 (+0.09%)

Apr 17, 2026

Company Details

Viant Technology Inc. operates as an advertising technology company. It provides ViantAI, an artificial intelligence product suite; Holistic, Omnichannel DSP, an integrated platform that manages omnichannel campaigns and access metrics; Hou...

CEO

Tim Vanderhook

IPO Date

Feb 10, 2021

Website

www.viantinc.com

Key Metrics TTM

Revenue

$300M

+45.9% YoY

Net Income

$3M

EPS (Diluted)

$0.16

Free Cash Flow

$45M

Revenue / Share

$15.62

Gross Margin

47.6%

Operating Margin

2.7%

Net Margin

0.9%

FCF Margin

15.1%

P/S

2.2x

P/E

233.3x

Earnings Reports

Q4 2025

May 5, 2026

PENDING

FY 2025

Mar 11, 2026

$344M+19.0%EPS $0.36

Q3 2025

Nov 10, 2025

$86MEPS $0.06

FY 2024

Mar 3, 2025

$289M+29.7%EPS $0.12

Q4 2024

Mar 3, 2025

$90M+39.8%EPS $0.10

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 19	$32M	$12M	-$779.0K
Q2 19	$42M	$18M	$5M
Q3 19	$39M	$18M	$3M
Q1 20	$38M	$15M	$621.0K
Q2 20	$30M	$12M	$219.0K
Q3 20	$40M	$20M	$8M
Q3 21	$51M	$22M	-$12M
Q2 22	$51M	$20M	-$14M
Q3 22	$49M	$21M	-$13M
Q4 22	$55M	$22M	-$9M
Q3 23	$60M	$29M	-$3M
Q4 23	$64M	$32M	$882.0K
Q4 24	$90M	$42M	$6M
Q3 25	$86M	$40M	$4M

Valuation

Quarter	P/S	P/E
Q1 19	—	—
Q2 19	—	—
Q3 19	—	—
Q1 20	4.9x	154.3x
Q2 20	5.0x	113.6x
Q3 20	5.1x	72.7x
Q3 21	1.1x	33.0x
Q2 22	0.5x	52.5x
Q3 22	0.3x	—
Q4 22	0.3x	—
Q3 23	0.4x	—
Q4 23	0.5x	—
Q4 24	1.1x	—
Q3 25	0.5x	48.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 19	$0	$0
Q1 20	$4M	$2M
Q2 20	$8M	$6M
Q3 20	$3M	$648.0K
Q3 21	$7M	$6M
Q2 22	-$20M	-$20M
Q3 22	-$5M	-$5M
Q4 22	$10M	$10M
Q3 23	$4M	$3M
Q4 23	$23M	$23M
Q4 24	$16M	$16M
Q3 25	$3M	$3M

Capital Expenditures

Quarter	CapEx
Q3 19	$0
Q1 20	$2M
Q2 20	$2M
Q3 20	$2M
Q3 21	$120.0K
Q2 22	$24.0K
Q3 22	$156.0K
Q4 22	$205.0K
Q3 23	$371.0K
Q4 23	$476.0K
Q4 24	$218.0K
Q3 25	$226.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 20	-5.8%	-8.7%
Q3 20	-3.8%	-12.0%
Q3 21	+30.9%	+74.2%
Q2 22	+34.2%	+73.1%
Q3 22	+60.5%	+104.3%
Q4 22	+35.6%	+96.3%
Q3 23	+17.2%	-0.4%
Q4 23	+25.8%	-2.2%
Q4 24	+84.4%	+36.4%
Q3 25	+57.0%	+27.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 19	$157.0K	0.4%
Q1 20	$0	0.0%
Q2 20	$0	0.0%
Q3 20	$0	0.0%
Q3 21	$15M	30.3%
Q2 22	$8M	15.2%
Q3 22	$8M	15.8%
Q4 22	$7M	12.9%
Q3 23	$9M	14.7%
Q4 23	$8M	11.7%
Q4 24	$6M	6.4%
Q3 25	$6M	7.5%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 19	$2M	—	—	$11M
Q2 19	$2M	—	—	$11M
Q3 19	$2M	$4M	$7M	—
Q1 20	$2M	$5M	$7M	—
Q2 20	$2M	$4M	$6M	—
Q3 20	$2M	$4M	$7M	—
Q3 21	$7M	$12M	$15M	—
Q2 22	$5M	$12M	$17M	—
Q3 22	$6M	$12M	$17M	—
Q4 22	$6M	$10M	$16M	—
Q3 23	$6M	$11M	$14M	—
Q4 23	$7M	$12M	$13M	—
Q4 24	$7M	$15M	$15M	—
Q3 25	$8M	$11M	$17M	—

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 19	—	2.3%	—
Q2 19	—	15.2%	—
Q3 19	—	13.0%	—
Q1 20	—	8.5%	—
Q2 20	-5.8%	9.1%	3.3
Q3 20	-3.8%	25.5%	21.7
Q3 21	30.9%	-17.4%	13.5
Q2 22	34.2%	-21.9%	12.3
Q3 22	60.5%	-19.5%	41.0
Q4 22	35.6%	-10.7%	24.9
Q3 23	17.2%	1.6%	18.8
Q4 23	25.8%	7.6%	33.4
Q4 24	84.4%	11.1%	95.5
Q3 25	57.0%	12.3%	69.3

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$248M	$0	$248M
Q2 22	$207M	$0	$207M
Q3 22	$200M	$0	$200M
Q4 22	$207M	$0	$207M
Q1 23	$202M	$0	$202M
Q2 23	$204M	$0	$204M
Q3 23	$203M	$0	$203M
Q4 23	$216M	$0	$216M
Q1 24	$206M	$0	$206M
Q2 24	$210M	$0	$210M
Q3 24	$215M	$0	$215M
Q4 24	$205M	$0	$205M
Q1 25	$174M	$0	$174M
Q2 25	$173M	$0	$173M
Q3 25	$161M	$0	$161M
Q4 25	$191M	$0	$191M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 19	59M	—	—
Q2 19	59M	0.0%	—
Q3 19	59M	0.0%	—
Q1 20	59M	0.0%	—
Q2 20	59M	0.0%	0.0%
Q3 20	59M	0.0%	0.0%
Q3 21	12M	-78.8%	-78.8%
Q2 22	14M	+13.0%	-76.1%
Q3 22	14M	+1.4%	-75.7%
Q4 22	15M	+1.4%	-75.4%
Q3 23	15M	+6.1%	+23.2%
Q4 23	17M	+9.4%	+19.3%
Q4 24	22M	+28.5%	+51.2%
Q3 25	19M	-11.3%	+32.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 19	—	—
Q2 19	—	—
Q3 19	—	—
Q1 20	—	—
Q2 20	—	—
Q3 20	—	—
Q3 21	$176.0K	289
Q2 22	$146.3K	350
Q3 22	$139.5K	350
Q4 22	$177.0K	308
Q3 23	$193.5K	308
Q4 23	$193.4K	333
Q4 24	$239.5K	376
Q3 25	$227.6K	376

Revenue / Employee