Viant's Third-Quarter Revenue Growth Slows From 34%

The Tip Desk · November 12, 2026 · 3 min read

Revenue was $110.43 million, up 29% year over year, as contribution ex-TAC and adjusted EBITDA exceeded the high end of the company's guidance range.

Viant Technology Inc. (DSP), an AI-powered programmatic advertising platform, reported third-quarter revenue of $110.43 million, up 29% from a year earlier, a slower pace than the 34% year-over-year increase in the second quarter.

Gross profit was $51.61 million, up 30% from a year earlier. Contribution ex-TAC, the company’s measure of profitability after traffic acquisition costs, was $67.23 million, up 27%. Adjusted EBITDA was $19.83 million, up 24%. Co-founder and Chief Executive Officer Tim Vanderhook said the quarter exceeded the high end of the company’s guidance range for contribution ex-TAC and adjusted EBITDA.

Adjusted EBITDA as a percentage of contribution ex-TAC was 29%, up from 24% in the second quarter. GAAP net income was $2.62 million, down 49% from a year earlier, after a $1.84 million net loss in the second quarter. Net income attributable to Viant Technology Inc. was $67 thousand. Non-GAAP net income was $13.43 million, up 20%.

Connected TV advertiser spend increased nearly 40% year over year, representing over 50% of total advertiser spend on the platform and a record high. For the second consecutive quarter, over 80% of CTV spend was transacted through Direct Access, a steep increase from over 50% in the first quarter of 2026.

Viant said it established direct integrations with frontier AI models including Claude, ChatGPT and Cursor, allowing advertisers to manage campaigns through natural-language prompts outside the company’s user interface. It also launched the TVision mobile meter, extending attention analytics beyond the TV screen by connecting linear TV and CTV viewership with real-world consumer actions on mobile devices.

The company acquired Waymark, a generative AI video creative production platform built for CTV. Vanderhook said the combination of Waymark’s generative AI with Viant’s audience, content and attention intelligence is intended to produce audience-tailored, contextually relevant, attention-optimized creatives for CTV advertisers.

Beginning in the third quarter and through November 6, 2026, Viant repurchased 1.4 million shares for $18.6 million under its share repurchase program and net settled 0.4 million shares related to vested equity awards for $4.6 million, a combined 1.8 million shares for $23.2 million at an average price of $12.82. The board authorized a $50 million increase to the stock repurchase program, effective November 9, 2026, raising the total authorization to $150 million since inception, with $70.8 million remaining. Cash and cash equivalents were $183.21 million as of September 30, 2026.

For the fourth quarter of 2026, the company expects revenue of $130.5 million to $133.5 million, contribution ex-TAC of $80.5 million to $82.5 million, non-GAAP operating expenses of $49.5 million to $50.5 million, and adjusted EBITDA of $31.0 million to $32.0 million. At the midpoint, it expects contribution ex-TAC to increase 26% and adjusted EBITDA to increase 27%, with adjusted EBITDA margin expansion to 39%. Chief Financial Officer Larry Madden said the company is carrying third-quarter momentum into the fourth quarter and that growing enterprise relationships and a strong pipeline position it for continued growth in 2027.

At the midpoint of fourth-quarter guidance, the company expects full-year 2026 revenue of approximately $435 million, up 26% year over year, contribution ex-TAC of approximately $259 million, up 24%, non-GAAP operating expenses of approximately $184 million, up 22%, and adjusted EBITDA of approximately $75 million, up 31%.