Viant Technology (DSP) AI Stock Analysis

• Market Cap: $916.60M
• Dividend Yield: N/A
• Average Volume (3M): 284.55K
• Price to Earnings (P/E): 461.8
• Beta (1Y): 1.44
• Revenue Growth: 30.64%
• EPS Growth: N/A
• Country: US
• Employees: 383
• Sector: Technology
• Sector Strength: 77
• Industry: Software - Application
• EPS (TTM): -0.07
• Shares Outstanding: 15,846,372
• 10 Day Avg. Volume: 303,807
• 30 Day Avg. Volume: 284,550
• PEG Ratio: 0.79
• Price to Book (P/B): 4.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 4.82
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $21.43
• Price Target Upside: 46.28% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8

• Rating: 69 Neutral
• Price Target: ―

Viant Technology's strong earnings performance and strategic focus on growth areas like CTV and AI are the most significant drivers of its score. However, the high P/E ratio and technical indicators indicating mixed short-term trends moderate the overall outlook. Positive corporate events further support the score.

Positive Factors

Financial Performance

Viant reported strong Q1 results, with revenue, contribution ex-TAC, and adj. EBITDA all coming in ahead of expectations and guidance.

Growth Opportunities

DSP could benefit from a potential DOJ-forced breakup of Google, which might create new opportunities.

Market Position

CTV accounted for 45% of their revenues, showcasing a strong position in the connected TV market.

Negative Factors

Market Challenges

In early May, a small number of advertisers impacted by either tariffs or supply chain headwinds shifted their spend to the later part of the year.

Stock Performance

Despite strong results, DSP is indicated lower, but the recommendation is to buy on weakness due to fast growth and strong execution.

Viant Technology Business Overview & Revenue Model

Company Description

Viant Technology Inc. operates as an advertising software company. It provides Adelphic, an enterprise software platform that enables marketers and their advertising agencies to plan, buy, and measure advertising across channels, including desktop, mobile, connected and linear TV, in-game, streaming audio, and digital billboards. The company also offers Holistic, an omnichannel demand side platform for marketers and their agencies to manage omnichannel campaigns and access metrics from each channel to inform decisions in other channels; Viant Household ID, a household profile, which provides household insights for optimized bid decisions and touchpoint collection across consumer pathways, as well as offers holistic targeting and measurement across channels; World Without Cookies software to manage reach and frequency at the household level; and Viant Identity Graph, which reduces or eliminates the need for cookies by enabling matching of people-based identifiers that anchor digital identifiers that allows marketers to reach targeted consumers in a privacy-conscious manner. In addition, it provides Data lake, a software and self-service enables customers with differentiated insights, including conversion lift, multi-touch attribution, foot-traffic data reports, digital-out-of-home lift, sales reporting, and ROAS analytics; onboarding data integrations provides marketers with high match rates to audience insights for segmentation, targeting, and measuring outcomes; and self-service interface that provides customers with transparency and control over their advertising campaigns and underlying data infrastructure. The company sells its platform through a direct sales team focused on business development in various markets. It serves purchasers of programmatic advertising inventory; and large, independent, and mid-market advertising agencies. The company was founded in 1999 and is headquartered in Irvine, California.

How the Company Makes Money

Viant Technology makes money primarily through its demand-side platform, which generates revenue by charging fees for the advertisement campaigns run on its platform. The company earns a percentage of the advertising spend from its clients, which includes marketers and advertising agencies. Additionally, Viant may derive income from data analytics services and other ancillary digital marketing services. The company's financial success is also influenced by its ability to maintain strong partnerships with data providers, publishers, and technology partners to enhance its service offerings and expand its market reach.

Viant Technology Financial Statement Overview

Summary

Viant Technology shows a strong financial recovery with notable improvements in revenue and net income. The balance sheet exhibits low leverage and a healthy equity structure, although there is a need for equity growth. Cash flow metrics are particularly strong, highlighting effective cash management. While operational efficiency concerns exist, the overall financial health of the company is on an upward trajectory, reflecting positive growth and management strategies.

Income Statement

Viant Technology has shown impressive revenue growth from 2019 to 2024, particularly in the last year with a significant increase from $222.9M to $289.2M. The company has turned around its net income from a loss in 2023 to a profit in 2024, with a net profit margin of 4.3%. However, EBIT and EBITDA margins remain low, indicating potential issues with operating efficiency. Continued improvement in net income and revenue growth are strengths, but the low operating margins are a concern.

Balance Sheet

The company maintains a healthy equity ratio of 12.2% for 2024, indicating a solid capital structure. The debt-to-equity ratio is relatively low, which is favorable, and there is a positive return on equity of 23.1%. However, the decline in stockholders' equity over the past years poses a potential risk. Overall, the balance sheet shows stability with low leverage, though there is room for improvement in equity growth.

Cash Flow

Viant Technology demonstrates strong free cash flow generation with a substantial increase from $24.3M in 2023 to $49.3M in 2024, signaling robust cash flow growth. The operating cash flow to net income ratio is favorable, indicating effective conversion of income into cash. The company has handled capital expenditures efficiently, contributing to positive free cash flow. Continued improvement in cash flow metrics suggests strong cash management practices.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
289.24M	222.93M	197.17M	224.13M	165.25M
	Gross Profit
132.07M	102.45M	80.44M	94.52M	76.99M
	EBIT
3.48M	-18.30M	-49.26M	-42.80M	21.77M
	EBITDA
3.48M	-3.56M	-36.13M	-31.65M	31.87M
	Net Income Common Stockholders
2.36M	-3.44M	-9.26M	-8.55M	20.64M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
205.05M	216.46M	206.57M	238.48M	9.63M
	Total Assets
440.80M	404.91M	377.88M	389.13M	133.52M
	Total Debt
26.01M	25.43M	28.71M	17.50M	23.54M
	Net Debt
-179.04M	-191.02M	-177.86M	-220.98M	13.91M
	Total Liabilities
166.73M	130.52M	112.11M	106.56M	113.40M
	Stockholders Equity
53.84M	68.26M	59.25M	60.16M	20.12M
Cash Flow		Free Cash Flow
49.27M	24.28M	-12.36M	21.29M	11.03M
	Operating Cash Flow
51.77M	37.75M	-3.53M	28.66M	18.88M
	Investing Cash Flow
-27.74M	-13.48M	-8.83M	-7.37M	-7.84M
	Financing Cash Flow
-35.43M	-14.39M	-19.55M	207.56M	-6.22M

Viant Technology Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 14.65
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DSP, the sentiment is Negative. The current price of 14.65 is below the 20-day moving average (MA) of 14.66, above the 50-day MA of 13.46, and below the 200-day MA of 15.09, indicating a neutral trend. The MACD of 0.30 indicates Positive momentum. The RSI at 45.78 is Neutral, neither overbought nor oversold. The STOCH value of 39.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DSP.

Viant Technology Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KARO	75 Outperform	$1.69B	33.49	30.85%	1.98%	10.07%	31.38%
PUBM	70 Outperform	$553.28M	135.85	1.94%	―	3.62%	-53.21%
DSP	69 Neutral	$916.60M	461.79	4.15%	―	30.64%	―
FRGE	61 Neutral	$180.49M	―	-27.44%	―	16.03%	30.99%
Sector *	60 Neutral	$11.59B	10.34	-7.15%	2.94%	7.49%	-10.88%
BMBL	54 Neutral	$588.76M	―	-46.57%	―	-2.39%	-2961.26%
SMRT	51 Neutral	$162.77M	―	-22.66%	―	-25.43%	-135.09%

Viant Technology Corporate Events

Viant Technology Appoints Brett Wilson as Director

On May 10, 2025, Viant Technology Inc. announced the election of Brett Wilson as a Class II director, effective May 12, 2025. Mr. Wilson will also join the Audit Committee and participate in the company’s Non-Employee Director Compensation Policy. This appointment is expected to strengthen the company’s governance structure and enhance its operational oversight.

The most recent analyst rating on (DSP) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Viant Technology stock, see the DSP Stock Forecast page.

Viant Technology Boosts Stock Repurchase Program by $50M

On May 5, 2025, Viant Technology‘s board of directors approved an increase of $50 million to their stock repurchase program, highlighting their commitment to shareholder returns. The company reported a strong first quarter of 2025, with a 32% increase in revenue and a 76% rise in adjusted EBITDA year-over-year, driven by significant growth in CTV advertiser spend and strategic alignment with digital channels.