Raymond James raises Fulgent Genetics stock price target to $36 on strong performance
Investing.com -- Viant Technology Inc. (NASDAQ:DSP) reported third-quarter earnings that exceeded analyst expectations on Monday, sending shares up 5.8% in after-hours trading.
The AI-powered programmatic advertising company posted adjusted earnings per share of $0.06, beating the analyst estimate of $0.05. Revenue reached $85.58 million, significantly surpassing the consensus estimate of $52.07 million and representing a 7% increase YoY. Contribution ex-TAC, a key metric for the company, grew 12% YoY to $52.99 million.
"Viant delivered record third quarter results, with revenue, contribution ex-TAC and adjusted EBITDA all exceeding the midpoint of our guidance," said Tim Vanderhook, Co-Founder and CEO of Viant. "We believe we are well-positioned to accelerate top-line growth, fueled by strengthening CTV demand, broader adoption of our proprietary addressability solutions."
The company noted that excluding political spend and the impact of a seasonal advertiser transitioning off platform due to a corporate merger, revenue would have increased 19% and contribution ex-TAC would have grown 22%. Connected TV advertising reached record levels, accounting for 46% of total ad spend on the platform.
For the fourth quarter, Viant expects revenue between $101.5 million and $104.5 million, with contribution ex-TAC ranging from $62.0 million to $64.0 million. The company also anticipates adjusted EBITDA between $22.5 million and $23.5 million.
"Looking ahead to the fourth quarter, excluding these same headwinds, we expect revenue and contribution ex-TAC growth of 20% and 21%, respectively, at the midpoint of our guidance, underscoring continued momentum in our business," said Larry Madden, CFO of Viant.
The company also reported a significant business win, being designated as the Advertising Platform for Molson Coors, which will use Viant to power programmatic ad campaigns across the U.S. beginning in 2026.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.