Viant Technology, Inc. (DSP)
NASDAQ:DSP
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Viant Technology
(NASDAQ:DSP)
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Rating:67Neutral
Price Target:
$11.50
▲(9.00% Upside)
Action:Reiterated
Date:05/14/26
The score is driven primarily by improving fundamentals and cash generation (despite some margin volatility) and a strongly constructive earnings call with upbeat growth and EBITDA guidance. These positives are tempered by weak-to-neutral technicals and unfavorable valuation signals (negative P/E and no dividend yield provided).
Positive Factors
Strong cash generation
Sustained, sizable operating and free cash flow provides durable financial flexibility for reinvestment, product development, M&A and shareholder returns. Consistent cash conversion reduces refinancing risk and supports multi-year execution of growth initiatives despite episodic margin swings.
Negative Factors
Margin and earnings volatility
Large year-to-year gross margin swings and a low TTM net margin indicate earnings quality and margin sustainability are uncertain. This variability can complicate planning, weaken predictable free cash flow conversion, and make long-term margin targets more difficult to rely upon.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained, sizable operating and free cash flow provides durable financial flexibility for reinvestment, product development, M&A and shareholder returns. Consistent cash conversion reduces refinancing risk and supports multi-year execution of growth initiatives despite episodic margin swings.
Read all positive factors
Viant Technology (DSP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$681.27M
Dividend YieldN/A
Average Volume (3M)230.35K
Price to Earnings (P/E)―
Beta (1Y)1.46
Revenue Growth18.15%
EPS Growth331.16%
CountryUS
Employees386
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.14
Shares Outstanding17,755,758
10 Day Avg. Volume306,605
30 Day Avg. Volume230,354
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)9.11
Price to Sales (P/S)2.17
P/FCF Ratio14.48
Enterprise Value/Market Cap0.82
Enterprise Value/Revenue1.53
Enterprise Value/Gross Profit2.76
Enterprise Value/Ebitda7.49
Forecast
1Y Price Target
$18.31Price Target Upside73.58% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)0.36
Revenue Forecast (FY)$256.85M
Viant Technology Business Overview & Revenue Model
Company Description
Viant Technology Inc. operates as an advertising technology company. It provides ViantAI, an artificial intelligence product suite; Holistic, Omnichannel DSP, an integrated platform that manages omnichannel campaigns and access metrics; Household ...
How the Company Makes Money
Viant primarily makes money by charging advertisers and agencies for the use of its DSP to purchase programmatic advertising inventory. Revenue is generated as campaigns are executed through the platform, typically tied to media spend flowing thro...
Viant Technology Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call presents a strongly positive operational and financial narrative: robust revenue (+25% YoY), outsized adjusted EBITDA growth (+81% YoY), expanding margins, record CTV mix and adoption, strategic acquisitions (TVision) and differentiated proprietary data (IRIS ID, Household ID) coupled with a large RFP pipeline and new flagship clients. Near-term headwinds include planned operating expense increases, early-stage commercialization of Outcomes, delayed conversion timing for many RFPs (largely 2027), and competitive pressure from large walled gardens. On balance, the positive growth, cash generation and unique product/data differentiation outweigh the stated risks.Positive Updates
Strong Top-Line Growth
Revenue of $88.5M in Q1 2026, up 25% year-over-year and 3% above the high end of quarterly guidance.
Negative Updates
Expenses and Planned OpEx Growth
Non-GAAP operating expenses were $40.5M in Q1 (+9% YoY, +2% sequentially). Q2 guidance implies non-GAAP operating expenses of $45.5M–$46.5M (up ~24% YoY at midpoint), indicating near-term planned investment and higher operating cost growth versus historical trends.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Top-Line Growth
Revenue of $88.5M in Q1 2026, up 25% year-over-year and 3% above the high end of quarterly guidance.
Read all positive updates
Company Guidance
For Q2 2026 Viant guided revenue of $98.5M–$101.5M (midpoint +28% YoY), contribution ex‑TAC of $58.5M–$60.5M (midpoint +23% YoY), non‑GAAP operating expenses of $45.5M–$46.5M (midpoint +24% YoY), adjusted EBITDA of $13M–$14M (midpoint +20% YoY) and an adjusted EBITDA margin of ~23% of contribution ex‑TAC at the midpoint; the guide includes a partial‑quarter contribution from TVision (closed May 1) and the midpoint assumes record Q2 performance across revenue, contribution ex‑TAC and adjusted EBITDA. Management said contribution ex‑TAC should continue to outpace the ~13% U.S. programmatic market and accelerate sequentially through 2026 (driven by new client onboarding, organic ramps, political spend and TVision), with a goal of sustaining 20%+ annual top‑line growth, modest full‑year EBITDA margin expansion and a multi‑year opportunity to reach 40%+ adjusted EBITDA margins.Viant Technology Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
71
Positive
Cash Flow
76
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 362.10M | 344.20M | 289.24M | 222.93M | 197.17M | 224.13M |
| Gross Profit | 200.98M | 289.28M | 132.07M | 102.45M | 80.44M | 94.52M |
| EBITDA | 74.19M | 167.57M | 19.94M | -3.56M | -36.13M | -31.65M |
| Net Income | 9.09M | 24.10M | 2.36M | -3.44M | -11.91M | -7.74M |
Balance Sheet | ||||||
| Total Assets | 439.00M | 474.66M | 440.80M | 404.91M | 377.88M | 389.13M |
| Cash, Cash Equivalents and Short-Term Investments | 185.69M | 191.15M | 205.05M | 216.46M | 206.57M | 238.48M |
| Total Debt | 23.38M | 21.75M | 26.01M | 25.43M | 28.71M | 17.50M |
| Total Liabilities | 148.61M | 185.86M | 166.73M | 130.52M | 112.11M | 106.56M |
| Stockholders Equity | 85.31M | 82.14M | 53.84M | 68.26M | 59.25M | 60.16M |
Cash Flow | ||||||
| Free Cash Flow | 46.30M | 51.68M | 49.27M | 36.56M | -4.29M | 21.29M |
| Operating Cash Flow | 59.98M | 52.61M | 51.77M | 37.75M | -3.53M | 28.66M |
| Investing Cash Flow | -22.23M | -22.34M | -27.74M | -13.48M | -8.83M | -7.37M |
| Financing Cash Flow | -25.94M | -44.16M | -35.43M | -14.39M | -19.55M | 207.56M |
Viant Technology Technical Analysis
Positive
10.55
Price Trends
11.05
Negative
11.05
Negative
10.49
Positive
Market Momentum
-0.04
Positive
50.19
Neutral
46.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DSP, the sentiment is Positive. The current price of 10.55 is below the 20-day moving average (MA) of 10.92, below the 50-day MA of 11.05, and above the 200-day MA of 10.49, indicating a neutral trend. The MACD of -0.04 indicates Positive momentum. The RSI at 50.19 is Neutral, neither overbought nor oversold. The STOCH value of 46.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DSP.
Viant Technology Risk Analysis
Viant Technology disclosed 57 risk factors in its most recent earnings report. Viant Technology reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Viant Technology Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $697.40M | 27.98 | 13.98% | ― | 18.07% | 60.39% | |
67 Neutral | $681.27M | -109.70 | 16.65% | ― | 18.15% | 331.16% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $460.25M | -7.70 | -6.98% | ― | -2.33% | -425.96% | |
56 Neutral | $414.77M | 1.90 | -108.85% | ― | -11.42% | -20.07% | |
52 Neutral | $485.59M | 28.37 | -25.84% | ― | 12.05% | 84.72% |
* Technology Sector Average
DSP
Viant Technology
10.94
-3.71
-25.32%
APPS
Digital Turbine
4.17
-0.46
-9.94%
RDVT
Red Violet
50.10
0.81
1.64%
PUBM
PubMatic
10.06
-1.46
-12.67%
BMBL
Bumble
3.16
-2.49
-44.07%
Viant Technology Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Viant Technology Acquires TVision to Enhance TV Measurement
Positive
Apr 15, 2026
On April 14, 2026, Viant Technology Inc. agreed to acquire TVision Insights Inc., a specialist in second-by-second, eyes-on-screen TV attention measurement, through a merger in which TVision will become a wholly owned subsidiary. The transaction v...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.