Viant Technology Inc. reported a 28% YoY revenue growth to $53.4 million, with a 22% increase in contribution ex-TAC. Connected TV (CTV) and streaming audio fueled growth, with over half of the ad spend coming from these channels.
Viant's Household ID technology played a significant role in enhancing campaign performance. The company announced plans to introduce new AI-based features and products, including an updated AI Bid Optimizer, showing a focus on innovation.
Less than 10% of ad spend on Viant's platform uses cookies, with the majority utilizing Household ID. The company expects robust growth in CTV and streaming audio advertising to continue, with revenue projected between $63.5 million and $66.5 million for Q2 2024.
Despite its strong performance, Viant acknowledges potential market pressures and the impact of regulatory changes. However, the company remains optimistic about future growth, citing new product adoption by customers and the anticipated contribution of political advertising to revenue.
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