Record Revenue and Growth
Viant Technologies achieved a revenue increase of 18% year-over-year and contribution ex-TAC increased 16% year-over-year, both in line with quarterly guidance. Adjusted EBITDA increased 18% year-over-year to $11.3 million for the quarter.
Expansion of CTV Offering
CTV was the strongest driver of top line growth, accounting for approximately 45% of total ad spend on the platform. The Direct Access premium publisher program grew with new partners, including Disney, Paramount, and LG.
Advancements in AI Product Suite
Successful launch of AI Measurement and Analysis, with 85% of ad spend on the platform running through AI Bidding. AI Planning showed increasing monthly utilization with around 25,000 interactions year-to-date.
Strong Financial Position
Viant ended the quarter with $173 million in cash and cash equivalents, $192 million in positive working capital, no debt, and full access to a $75 million undrawn credit facility.