Viant Technology expects Q3 revenue between $107.5 mln and $110.5 mln
Company sees Q3 contribution ex-TAC in the range of $65 mln to $67 mln
Viant expects Q3 adjusted EBITDA between $18.5 mln and $19.5 mln
Overview
US AI advertising platform's Q2 revenue grew 34% yr/yr, beating analyst expectations
Adjusted net income for Q2 beat analyst expectations
Company's results driven by increased CTV advertiser spend and integration of attention intelligence
Result drivers
CTV advertiser spend - Nearly 50% year-over-year increase in CTV advertiser spend, now representing over half of total advertiser spend
Attention intelligence integration - Integration and early adoption of TVision's attention intelligence technology contributed to advertiser enthusiasm
Direct Access growth - Over 80% of CTV spend was transacted through Direct Access, up sharply from over 50% in Q1
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Viant Technology Inc is $17.00, about 28.4% above its August 7 closing price of $13.24
The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 24 three months ago
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