Viant Reports Revenue Jump, Beats Estimates

Digital ad tech company Viant Technology Inc. (Nasdaq: DSP) which has soared to a $3.5 billion market cap, reported an 8.7% increase in fourth quarter revenue and a jump in net income for the same period in its first earnings report as a public company.

“We are just at the beginning of a large opportunity and look forward to driving growth in the quarters ahead as we capitalize on the investments we have made in our software platform and go-to-market organization,” Chief Executive Tim Vanderhook said in releasing the earnings today.

Revenue for the fourth quarter was $56.5 million, compared with just under $52 million in the same three-month period of 2019, Viant said.

The average of five analysts estimates cited by Yahoo called for revenue of $55.2 million, while earnings per share also beat estimates.
Net income was $12.9 million in the fourth quarter, well more than double the $5.4 million in the same period of 2019.

The company predicted revenue in the range of $38 million to $38.5 million in the current quarter, which would represent flat year-over-year growth or an increase of 1%.

Shares in Viant fell 8% to $55 apiece, after closing up 14.3%. It went public last month.

For more on Viant, see the March 29 print edition of the Business Journal.