Viant Technology Stock Earnings Reports

Viant reported a strong Q1 2026 with revenue of $88.5M (up 25% YoY) and contribution ex-TAC of $50.3M (up 18% YoY). Adjusted EBITDA was $9.8M (up 81% YoY) and free cash flow and operating cash flow both increased substantially year-over-year. Key growth drivers: CTV (accounted for >50% of ad spend; CTV contribution ex-TAC grew >40% YoY), adoption of proprietary data assets (IRIS ID content identifier nearing ~50% penetration of biddable CTV inventory and Household ID embedded in ~96% of CTV requests), the Outcomes autonomous AI product (launched Jan; early performance budgets are shifting from search/social), and the May 1 acquisition of TVision (attention measurement that will be used as a prebid signal). Management highlights an all-time large RFP pipeline, multiple new flagship clients (Molson Coors, WHOOP) ramping, and expectations for accelerating contribution ex-TAC growth and market share gains through 2026. Financial outlook for Q2 2026: revenue $98.5M–$101.5M, contribution ex-TAC $58.5M–$60.5M, non-GAAP OpEx $45.5M–$46.5M, Adjusted EBITDA $13M–$14M (midpoint implying ~23% adjusted EBITDA margin on contribution). Balance sheet: ~$186M cash, no debt, $220M positive working capital, $75M undrawn credit facility; $60.6M returned via buybacks since May 2024 (≈$39.4M remaining authorization). Management positions Viant as an independent, transparent buy-side alternative to walled gardens (calls out Amazon/Google self-attribution risks) and emphasizes long-term targets: consistent ~20%+ annual top-line growth and continued adjusted EBITDA margin expansion with an opportunity to reach ~40%+ adjusted EBITDA margins over several years. Near-term catalysts include ramping TVision attention signals into Outcomes, political advertising in H2 (midterms), further streaming service IRIS ID integrations, and conversion of the large RFP cohort (many selections expected to convert in 2027).