Viant Technology Inc. Q3 2024 10-Q Filing

TL;DR

Viant Tech (DSP) filed its Q3 2024 10-Q. Financials are in.

AI Summary

Viant Technology Inc. filed its quarterly report for the period ending September 30, 2024. The company, headquartered in Irvine, CA, is involved in computer programming and data processing services. This filing provides financial data for the third quarter of 2024, comparing it to the same period in 2023.

Why It Matters

This filing provides investors with an update on Viant Technology Inc.'s financial performance and position as of the end of the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Players & Entities

• Viant Technology Inc. (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period
• 2024-11-12 (date) — Date the report was filed
• Irvine, CA (location) — Company's business and mailing address

FAQ

Key Financial Figures

• $0.001 — stered Class A common stock, par value $0.001 per share DSP The Nasdaq Stock Market L
• $1.235 billion — g growth company" is one with less than $1.235 billion in annual gross revenues, has issued le
• $1 billion — al gross revenues, has issued less than $1 billion of non-convertible debt over a three-ye

Filing Documents

• dsp-20240930.htm (10-Q) — 1983KB
• dsp-20240930xexx311.htm (EX-31.1) — 8KB
• dsp-20240930xexx312.htm (EX-31.2) — 8KB
• dsp-20240930xexx321.htm (EX-32.1) — 5KB
• dsp-20240930xexx322.htm (EX-32.2) — 5KB
• dsp-20240930_g1.jpg (GRAPHIC) — 7KB
• 0001828791-24-000054.txt ( ) — 7380KB
• dsp-20240930.xsd (EX-101.SCH) — 48KB
• dsp-20240930_cal.xml (EX-101.CAL) — 65KB
• dsp-20240930_def.xml (EX-101.DEF) — 272KB
• dsp-20240930_lab.xml (EX-101.LAB) — 642KB
• dsp-20240930_pre.xml (EX-101.PRE) — 447KB
• dsp-20240930_htm.xml (XML) — 791KB

Financial Statements

Financial Statements 4 A. Condensed Consolidated Statements of Operations 4 B. Condensed Consolidated Balance Sheets 5 C. Condensed Consolidated Statements of Equity 6 D. Condensed Consolidated Statements of Cash Flows 8 E. Notes to the Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 45 Item 4.

Controls and Procedures

Controls and Procedures 46 PART II. OTHER INFORMATION 47 Item 1.

Legal Proceedings

Legal Proceedings 47 Item 1A.

Risk Factors

Risk Factors 47 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 73 Item 3. Defaults Upon Senior Securities 74 Item 4. Mine Safety Disclosures 74 Item 5. Other Information 74 Item 6. Exhibits 75

Signatures

Signatures 76 2 Special Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q ( " Quarterly Report " ) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the " Securities Act " ), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which statements involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by words such as "may," "will," "should," "could," "intend," "consider," "expect," "plan," "anticipate," "believe," "estimate," "predict" or "continue" or the negative or plural of these words or other similar terms or expressions. All statements other than statements of historical fact are forward-looking statements, which speak only as of the date they are made and are not guarantees of future performance. Forward-looking statements contained in this Quarterly Report include, but are not limited to, statements about: our future financial performance, including our revenue, cost of revenue, gross profit, contribution excluding traffic acquisition costs ("contribution ex-TAC"), adjusted EBITDA, and operating expenses; trends in our key business measures; the sufficiency of our cash and cash equivalents and cash provided by sales of our products and services to meet our liquidity needs; market trends; our market position and opportunity; our growth strategy and business aspirations for our demand side platform in enabling the programmatic purchase of advertising in the digital advertising industry; our product strategy, including our use of artificial intelligence; our efforts to enhance the security and privacy of our platform; the impact of information and data privacy trends and regulations on our business and competitors; the potential impacts of macroeconomic and geopolitical events on our business and the business of our customers, suppliers and channel partners, and the economy; our abil

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements VIANT TECHNOLOGY INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited; in thousands, except per share data) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenue $ 79,922 $ 59,585 $ 199,181 $ 158,528 Operating expenses: Platform operations 44,598 30,965 109,600 87,825 Sales and marketing 13,007 14,146 38,994 38,006 Technology and development 5,631 6,151 16,678 18,217 General and administrative 12,648 11,142 36,334 33,658 Total operating expenses 75,884 62,404 201,606 177,706 Income (loss) from operations 4,038 ( 2,819 ) ( 2,425 ) ( 19,178 ) Other expense (income), net: Interest income, net ( 2,407 ) ( 2,329 ) ( 7,147 ) ( 6,197 ) Other expense, net 1 1 4 89 Total other expense (income), net ( 2,406 ) ( 2,328 ) ( 7,143 ) ( 6,108 ) Income (loss) before income taxes 6,444 ( 491 ) 4,718 ( 13,070 ) Provision for (benefit from) income taxes ( 14 ) 181 ( 14 ) 181 Net income (loss) 6,458 ( 672 ) 4,732 ( 13,251 ) Less: Net income (loss) attributable to noncontrolling interests 4,951 ( 146 ) 4,117 ( 9,181 ) Net income (loss) attributable to Viant Technology Inc. $ 1,507 $ ( 526 ) $ 615 $ ( 4,070 ) Earnings (loss) per share of Class A common stock: Basic $ 0.09 $ ( 0.03 ) $ 0.04 $ ( 0.27 ) Diluted $ 0.09 $ ( 0.03 ) $ 0.04 $ ( 0.27 ) Weighted-average shares of Class A common stock outstanding: Basic 16,290 15,388 16,240 15,093 Diluted 19,993 15,388 16,240 15,093 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 4 VIANT TECHNOLOGY INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited; in thousands, except share and per share data) As of September 30, As of December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 214,632 $ 216,458 Accounts receivable, net of allowances 135,647 117,473 Prepaid expenses and other current assets 10,131 6,486 Total current assets 360,410 340,417 Property