Viant Technology Inc.
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Range $14.5 – $20
Price Chart
About the company
Viant Technology Inc. specializes in providing advanced advertising technology solutions. Among its key offerings is ViantAI, an artificial intelligence product suite.
- CEO
- Tim Vanderhook
- IPO
- 2021
- Employees
- 470
- HQ
- Irvine, CA, US
AI snapshot
Six angles, distilled from the data.
The stock is in a constructive multi-month uptrend, trading above both the 50-day and 200-day moving averages. It sits below the 52-week high of $14.80 but well above the 52-week low of $8.11, which keeps the setup in a recovery-to-consolidation regime rather than a breakout phase.
Street sentiment stays constructive: the consensus is Buy with an average target of $17.75, well above the current share price. Recent revisions have trended higher, including targets lifted to $20 at Raymond James, $19 at UBS, and $17.50 at D.A. Davidson, reinforcing positive execution expectations.
The next print has a mixed but improving backdrop. DSP has beaten EPS in 3 of the last 8 quarters, and the latest quarter delivered $0.01 versus a $(0.10) estimate. Watch whether revenue growth and margin discipline can support the next-year EPS view of $0.808.
The pattern leans negative on discretionary activity, with net selling from the CFO and the CEO. Several director and officer entries are award, exempt, or return-related flows, which are largely mechanical noise; the clearest signal is that insider buying was absent while sales clustered in July and August.
Profitability is improving but still uneven. Gross margin is 44.5%, while operating margin remains negative at -3.7% and net margin is 2.24%. Growth is still the main support, with revenue up 33.9% year over year and EPS growth up 255.1%, backed by $53.5 million in free cash flow.
DSP wins on growth and cash generation, but it still trails more mature software peers on operating margin and consistency. The valuation sits at 30.78x earnings, which is rich for a business with negative operating margin but easier to justify if revenue growth stays above 30%.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $814.33M
- P/E
- 93.24
- Fwd P/E
- 70.90
- PEG
- 0.38
- P/S
- 2.10
- P/B
- 2.15
- EV/EBITDA
- 23.18
- Div Yield
- 0.00%
- Gross Margin
- 54.22%
- Op Margin
- 12.62%
- Net Margin
- 2.24%
- ROE
- 11.42%
- ROIC
- 13.85%
Latest fiscal year · YoY change
- Revenue
- $344.20M+19.0%
- Gross Profit
- $344.20M+160.6%
- Op Income
- $12.08M
- Net Income
- $8.35M+253.6%
- EPS
- $0.51+1260.0%
- OCF Growth
- +1.6%
- FCF Growth
- +4.9%
- 52W High
- $14.80
- 52W Low
- $8.11
- 50D MA
- $12.10
- 200D MA
- $11.28
- Beta
- 1.12
- RSI (14)
- 50
- Avg Volume
- 292.58K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Viant posted record Q2 results with revenue up 34% and adjusted EBITDA up 26%, while management highlighted accelerating CTV, Direct Access, and AI-driven growth.· August 10, 2026
- Q2 revenue hit $104.3 million, up 34% year over year, and contribution ex-TAC was $60.2 million, up 24%.
- Adjusted EBITDA reached $14.2 million, up 26% year over year, with Q2 adjusted EBITDA margin at 24% of contribution ex-TAC.
- CTV remained the core growth engine: total CTV spend was up nearly 50% and over 50% of platform spend came from CTV.
- Direct Access adoption accelerated sharply, with over 80% of CTV spend transacted through Direct Access, up from just over 50% in Q1.
- Management said the pipeline is the largest in company history and expects growth to continue accelerating into 2027, supported by TVision, Outcomes, and new enterprise wins.
Q2 revenue was $104.3 million, up 34% year over year and 18% sequentially, and contribution ex-TAC was $60.2 million, up 24% year over year and 20% sequentially. Adjusted EBITDA was $14.2 million, up 26% year over year and 46% sequentially, and non-GAAP basic EPS was $0.15 versus $0.10 a year ago. Non-GAAP operating expenses were $46.0 million, up 24% year over year, and non-GAAP net income was $9.9 million versus $8.0 million last year. For Q3, Viant guided to revenue of $107.5 million to $110.5 million, contribution ex-TAC of $65 million to $67 million, non-GAAP operating expenses of $46.5 million to $47.5 million, and adjusted EBITDA of $18.5 million to $19.5 million; management said the midpoint implies 27% revenue growth and 25% contribution ex-TAC growth year over year.
Tim Vanderhook framed the quarter as a step-up into a new phase of accelerated growth, driven by broader advertiser adoption of Viant’s intelligence layer, Viant AI, and CTV. He emphasized that Household ID, IRIS Content ID, TVision, and Outcomes are differentiated tools that help Viant “maximize the value of the advertisers’ next dollar.” His tone was notably upbeat and confident, with repeated references to record performance, a historic pipeline, and Viant’s position as an “essential must-have partner.”
Larry Madden highlighted that Q2 revenue, contribution ex-TAC, adjusted EBITDA, and EPS all improved meaningfully, with adjusted EBITDA of $14.2 million and free cash flow of $22.4 million, up 39% year over year. He said the company ended the quarter with $193.1 million in cash and cash equivalents, $200.6 million of positive working capital, no debt, and access to a $75 million undrawn credit facility. He also noted that TVision created about a 150 basis point drag on Q2 EBITDA margins and is expected to be about a 200 basis point drag in Q3, while the company repurchased $1.0 million of stock year to date and had $39.4 million remaining under authorization as of August 7.
Analysts focused on the sharp increase in Direct Access penetration, the enterprise sales force, the large pipeline, margin drag from TVision, political spend, and why Viant’s growth is diverging so sharply from The Trade Desk’s. Management said Direct Access adoption was helped by customer education on roughly 35% lower CPMs, the quality of publisher and OEM partners, and the fact that it is front and center in new-customer go-to-market efforts. On pipeline timing, Tim Vanderhook said some wins could land in Q4 but most of the pipeline is annual-cycle business, with the bigger revenue shift expected in 2027. On margins and political, Larry cited a 150 basis point Q2 drag and 200 basis point Q3 drag from TVision, while Tim said political is expected to be only about 200 basis points and “de minimis” overall.
The call suggests Viant is gaining share in CTV with differentiated products that management believes are hard for competitors to match: proprietary identity, content, attention, measurement, and AI-based decisioning. Management said enterprise interest is rising, the pipeline is the largest in company history, and existing customers are expanding spend, including Outcomes reaching 5% of total ad spend year to date. The balance sheet also looks strong, with no debt, significant cash, and positive free cash flow.
Management acknowledged that TVision is pressuring margins in the near term, with about a 150 basis point EBITDA margin drag in Q2 and about 200 basis points expected in Q3. They also said political revenue is not a major driver, at about 200 basis points, so it is not a meaningful source of growth. A lot of the stronger pipeline is described as annual-cycle business, suggesting some of the biggest upside may not show up until 2027 rather than immediately.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 81.6%
- Shares Outstanding
- 65.62M
- Float Shares
- 53.52M
of shares held by institutions
124 13F filers
Buy/sell ratio 0.24. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Punch & Associates Investment Management, Inc. | 1.50M | ▲ 154.32K |
| Blackrock, Inc. | 1.27M | ▲ 170.09K |
| Royce & Associates LP | 1.07M | ▲ 63.18K |
| Vanguard Group Inc | 976.68K | ▲ 36.74K |
| Vanguard Capital Management LLC | 845.97K | ▲ 174.14K |
| Potomac Capital Management, Inc. | 538.00K | ▲ 5.36K |
| Geode Capital Management, LLC | 482.22K | ▲ 104.27K |
| Renaissance Technologies LLC | 425.74K | ▼ 16.06K |
| State Street Corp | 338.16K | ▲ 25.39K |
| Norwood Investment Partners, LP | 335.23K | ▲ 115.23K |
| Jpmorgan Chase & Co | 301.75K | ▼ 2.43K |
| G2 Investment Partners Management LLC | 241.53K | ▼ 14.65K |
Held by 91 ETFs
Biggest fund positions in DSP by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 11, 26 | MADDEN LARRY | sell | 26,020 |
| Aug 11, 26 | MADDEN LARRY | sell | 1,431 |
| Aug 10, 26 | Abrahams Craig Justin | other | 10,720 |
| Aug 10, 26 | Abrahams Craig Justin | other | 28,389 |
| Aug 10, 26 | Abrahams Craig Justin | other | 0 |
| Jul 23, 26 | MADDEN LARRY | sell | 2,814 |
| Jul 21, 26 | Vanderhook Timothy | sell | 12,500 |
| Jul 21, 26 | Vanderhook Timothy | other | 12,500 |
| Jul 21, 26 | Vanderhook Timothy | other | 12,500 |
| Jul 21, 26 | Vanderhook Timothy | sell | 3,196 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our DSP coverage
Recent articles, reports, and earnings notes.
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Viant Technology Eyes Enterprise Growth as AI Outcomes Gains Ad Spend
marketbeat.com · Aug 13
Oshkosh Defense and Marine Depot Maintenance Command Demonstrate Point-of-Need Manufacturing to Accelerate Readiness
gurufocus.com · Aug 12
Viant Technology Inc. (DSP) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 10
Viant Technology Q2 Earnings Call Highlights
marketbeat.com · Aug 10
Viant Technology (DSP) Misses Q2 Earnings Estimates
zacks.com · Aug 10
Viant Technology Announces Second Quarter 2026 Financial Results
businesswire.com · Aug 10
Viant Appoints Craig Abrahams to Board of Directors
businesswire.com · Aug 10
Viant Named CTV Innovation Leader
businesswire.com · Aug 6
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed August 17, 2026 · Live quote · Not investment advice
