Viant Had A Good Q4, But Still Needs To Punch Up At Bigger Platforms | AdExchanger

"Net income last year was $24.1 million, almost double the total in 2024. Full-year 2025 revenue, meanwhile, grew by 22% to $110 million. CEO Tim Vanderhook told investors that revenue would have grown 28% without the affect of the prior year's election cycle, which boosted 2024 political ad sales and created tougher comps."

"One of the factors behind Viant's strong earnings report is that it's a relatively small company and thus can generate larger percentage-based growth than an incumbent like Google, Amazon or The Trade Desk. Investors pressed Viant's executives on whether it can sustain growth rates that outpace its larger competitors."

"According to Chris V., brand marketers are wising up to the largest platforms "self-reporting their own success," generally with great ROAS numbers that don't correlate to real-world sales and lift. Amazon, in particular, is "definitely a thr[eat]" to these platforms' credibility."

Viant reported strong Q4 and full-year 2025 earnings with net income nearly doubling to $24.1 million and revenue growing 22% to $110 million. CEO Tim Vanderhook noted revenue would have grown 28% excluding the prior year's election cycle impact. The stock jumped over 10% following the announcement. Analysts acknowledged Viant's impressive performance relative to a weak programmatic advertising market, but questioned whether the smaller company can sustain growth rates exceeding larger competitors like Google, Amazon, and The Trade Desk. Executives Tim and Chris Vanderhook adopted an aggressive posture, with Chris highlighting that brand marketers increasingly distrust self-reported metrics from major platforms that don't correlate to real-world sales.

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