Viant shares fell 12.2% after earnings, despite Q3 results above the company’s guidance ranges. The likely disappointment is the cautious outlook: Q4 contribution ex-TAC guidance implies a sharp sequential slowdown from Q3, with the midpoint indicating roughly 8% quarter-over-quarter growth versus 27% year-over-year growth in Q3.
- Q3 revenue rose 29% year over year, above the midpoint of guidance; contribution ex-TAC increased 27%, above the high end.
- Adjusted EBITDA grew 24% to $19.8 million, also above the high end of guidance.
- CTV advertiser spend increased nearly 40% year over year, and management cited growth across most verticals.
- Q4 guidance calls for contribution ex-TAC of $76.5 million to $78.5 million and adjusted EBITDA of $12.5 million to $14.5 million; the contribution ex-TAC midpoint is below Q3’s $72.9 million only modestly, but signals slower sequential growth than Q3’s year-over-year pace.
- Viant closed its acquisition of Waymark, a generative AI video-creative platform focused on CTV; management described potential benefits, but did not quantify its expected financial contribution.
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