The following is a summary of the Viant Technology Inc. (DSP) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Viant Technology reported Q1 revenue growth of 28% year-over-year.

• Adjusted EBITDA for the quarter was more than $3 million.

• Operating expenses of $31 million, marking a 9% increase over the prior year.

• Non-GAAP net income for Q1 was $1.3 million.

• The company predicts Q2 2024 revenue will be between $63.5 million and $66.5 million.

Business Progress:

• Momentum in Connected TV (CTV) is accelerating, registering more than 50% growth year-over-year.

• The introduction of AI Bid Optimizer 2.0 and Viant Chat with Data are part of the planned product updates.

• Share repurchase of up to $50 million has been authorized by the company's board.

• With high engagement leading to high ad recall rates, the company reports strong results in lower ad clutter environments.

• Viant is growing in the public service vertical and the mid-market, partially due to sustainability leadership and AI utilization.

• Over 50% of client spending on CTV advertising now goes towards Direct Access partners, supported by lower Cost per Mil (CPM) and improved reach and frequency control.

• The company hopes for increased revenue growth from the political sector.

More details: Viant Technology IR

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