The following is a summary of the Viant Technology Inc. (DSP) Q4 2023 Earnings Call Transcript:
Financial Performance:
Viant Technology reported Q4 growth of 18% in revenue year-over-year, and contribution ex-TAC grew by 28%, resulting in an almost 400% increase in adjusted EBITDA for the quarter.
The full-year 2023 revenue was $222.9 million, an increase of 13% over 2022, and contribution ex-TAC rose by 15% to $143.4 million.
Non-GAAP operating expenses decreased by 13% to $114.3 million, and adjusted EBITDA increased to $29.1 million in 2023.
Revenue for Q4 2023 was reported at $64.4 million, an 18% increase over the previous year, and contribution ex-TAC for the quarter was $42.6 million, a 28% year-over-year increase.
For the fourth quarter, Viant reported EBITDA of $13 million, an increase of $10.4 million, and non-GAAP net income totaled $10.8 million. Cash and equivalents stood at $216.5 million.
Business Progress:
Viant Technology, one of only four enterprise-grade, self-service demand-side platforms, reported a record quarter for ad spend on its platform.
Household ID technology, particularly in Connected TV (CTV), drove success, with 90% of CTV ad spend using Household ID.
Over 40% of the quarter's CTV spend was through the Direct Access program, marking a significant increase from 25% in Q3.
The company launched its AI-powered Bid Optimizer and Viant Data platform that have been adopted by major customers.
The company achieved carbon-neutral status in 2023 and launched the Adtricity program, allowing advertisers to quantify their campaigns' carbon footprints.
Viant aims to roll out more offerings in their AI product suite and continues to capitalize on advertisers' shifting mindsets.
The company expects Q1 2024 revenue to be between $49 million and $52 million, alongside adjusted EBITDA ranging from $2 million to $3 million.
More details: Viant Technology IR
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