undamentalytics Newsletter
Sign in

Viant Technology Inc. (DSP) stock

Add to watchlist

Add holding +

NASDAQ: DSP Nasdaq Advertising Next results ~November 9, 2026

B Fundamentals grade

Viant Technology Inc. is a US-listed company in the advertising industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Model estimate per share

~$6.5

Valuation models combined (2)

Base case. Range ~$5.7–$6.7. Weighted average of 2 models (forward price-to-earnings vs peers, forward price-to-sales vs peers), the forward price-to-earnings vs peers counting double.

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Viant Technology Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 102 sales by directors and officers, last 12 monthsInsider trades
  • Funds78 adding, 43 cuttingOf 27 active managers that changed their stake, 17 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Viant Technology files

Where Viant Technology stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $388m, up 22.0% on a year earlier, faster than the 18.1% growth a quarter earlier. That growth ranks 2 of 13 among the advertising companies we cover. Free-cash-flow margin rose to 17.0% from 15.2% a year earlier. The diluted share count is up 16.1% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 7 of our 7 financial-health checks.

Source: 10-Q filed August 10, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 9, 2026 (estimated)

Viant Technology Inc.'s trailing-twelve-month revenue grew 22.0% year on year, with a free-cash-flow margin of 17.0%. Where it stands out: long-term debt as % of assets of 0.0% ranks 1 of 15 advertising companies we cover. Where it lags: stock pay as % of revenue of 7.6% ranks 19 of 23 advertising companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 36.4% while net income grew 269.0%: a 233pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 22.0% over the last 12 months, against a median of -1.2% for advertising companies we cover.
  • Growth speeding up. The growth rate is 3.8 points higher than a quarter earlier.
  • Net cash. Cash exceeds long-term debt by $0.2bn.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 10.7% over 90 days.

Things to watch

  • Results due soon. Results are expected around 9 November; the share price can move sharply on the day.
  • Share dilution. Diluted shares rose 16.1% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 67% and a beta of 1.2 against the S&P 500.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 7.6% ranks 19 of 23 advertising companies we cover (median 2.7%).
  • Heavily shorted. 10.6% of the shares available to trade are sold short (3.4 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 3 of the last four quarters.

Latest results: FY2026 Q2

Filed August 10, 2026
Earnings per share
$0.12 against an average estimate of $0.12: beat by 4.3%
Revenue
$104m, up 33.9% on a year earlier
Share reaction
-0.4% in the first session after the results on August 10, 2026, against -0.3% for the S&P 500
Guidance given
revenue $107.5m to $110.5m (third quarter 2026); contribution ex-TAC $65m to $67m (third quarter 2026)
Next report
November 9, 2026; average EPS estimate $0.17

Viant Technology's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.9%
  • 1 week-8.0%
  • 1 month+3.9%
  • This year+5.6%
  • 1 year+43.2%
  • 5 years+4.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$388M
Operating margin
2.3%
Net margin
2.2%
EPS (TTM, diluted)
$0.42

Growth

Revenue growth
+22.0%
Change in growth rate
+3.8 pts
Share count change
+16.1%

Cash

Free cash flow (TTM)
$66M
FCF margin
17.0%
Stock pay % of revenue
7.6%

Earnings

Last results
August 10, 2026
Next results (est.)
November 9, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Leadership
  3. Results
  4. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Viant Technology Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value Viant Technology Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.1%: the 10-year Treasury yield (4.9%) plus a beta of 1.15 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$6.7 ~$6.0–$9.0 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$0.2 ~$0.1–$0.3 Left out: out of range vs price (0.01x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$5.7 ~$5.2–$15 Included, half weight
Cash-flow model (DCF) Free cash flow after stock pay, grown then faded to 2.5%, discounted at 8.5%. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Combined value Weighted average of the models that apply: the primary model (forward price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$6.5 ~$5.7–$6.7 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Viant Technology Inc. with Advertising in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20212022202320242025
Share price$9.71$4.02$6.89$18.99$12.04
Market value$120m$57m$105m$389m$806m
+ Net debt (− = net cash)−$221m−$207m−$216m−$205m−$191m
Enterprise value−$101m−$150m−$112m$184m$615m
Multiples
Price / sales 0.5x0.3x0.5x1.3x2.3x
Price / earnings ———164.5x96.6x
Price / free cash flow 4.3x—2.9x7.9x15.6x
EV / EBITDA ———9.2x20.0x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

40 /100

Weak moat

How hard Viant Technology's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 3 / 20

    Cash operating profit has been a median 3.7% of total assets over 5 years.

  • Pricing power 16 / 20

    Gross margin has been a median 44.9%, moving by 1.7 percentage points (standard deviation) across 6 years.

  • Durability 10 / 20

    Operating margin has been a median -6.5%; its worst year was -19.0%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 5 of 6 years, at a median 15.7% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (55 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 9, 2026, after the close. Analysts expect revenue of $109m and EPS of $0.17 (range $0.05 to $0.26) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.60 +34% $443m +29%
Next $0.79 +31% $533m +20%

Next year's EPS estimate has moved +10.7% in 90 days, across 5 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −6.3% on 90 days ago. In the last 30 days, 1 analyst raised Viant Technology Inc.'s forecast and 2 cut it.

Consensus EPS forecast Viant Technology Inc., last 90 days
$0.60 $0.65 $0.70 $0.75 $0.80 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.64 Current fiscal year, 60 days ago: $0.68 Current fiscal year, 30 days ago: $0.67 Current fiscal year, 7 days ago: $0.66 Current fiscal year, Now: $0.60 $0.60 Next fiscal year, 90 days ago: $0.71 Next fiscal year, 60 days ago: $0.80 Next fiscal year, 30 days ago: $0.80 Next fiscal year, 7 days ago: $0.80 Next fiscal year, Now: $0.79 $0.79

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.64$0.71
60 days ago $0.68$0.80
30 days ago $0.67$0.80
7 days ago $0.66$0.80
Now $0.60$0.79

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.12 $0.12 +4.3%
Mar 2026 $0.07 $0.07 −2.3%
Dec 2025 $0.23 $0.22 −6.4%
Sept 2025 $0.13 $0.12 −8.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 10, 2026
  • Revenue third quarter 2026 $108m to $111m
    “Revenue in the range of $107.5 million to $110.5 million” source
  • Contribution ex-TAC third quarter 2026 $65m to $67m Non-GAAP
    “Contribution ex-TAC in the range of $65.0 million to $67.0 million” source
  • Non-GAAP operating expenses third quarter 2026 $46.5m to $47.5m Non-GAAP
    “Non-GAAP operating expenses in the range of $46.5 million to $47.5 million” source
  • Adjusted EBITDA third quarter 2026 $18.5m to $19.5m Non-GAAP
    “Adjusted EBITDA in the range of $18.5 million to $19.5 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

11 analysts, Oct 2026
Buy11100%
Hold00%
Sell00%

Monthly trend

  1. Oct 20263811
  2. Sep 20263811
  3. Aug 20263811

Counts of recommendations published by analysts covering Viant Technology Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.6%
of tradable shares
Days to cover
3.39
at average volume
Short interest, 1 month
+27%
to October 15, 2026
Held by institutions
61%
of shares
Held by insiders
3.2%
of shares
Employees
470
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 20222023202420252026 to date
Return
DSP−59%+71%+176%−37%+6%
Industry peers (median)−54%+10%−16%−40%−19%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
DSP33%75%75%50%36%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
DSP−68%−29%−27%−69%−31%
S&P 500−25%−10%−8%−19%−9%

Worst fall since February 10, 2021: 95% from February 16, 2021 to December 19, 2022. Getting back needed a 2021% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$8.50 – $14.30
From 52-week high
−11.0%
vs 50-day average
−0.6%
vs 200-day average
+8.1%
Volatility (1 year)
67%
Beta vs S&P 500
1.21

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±14.3%
After a week
8 up, 4 down
typical move ±14.2%
After a month
6 up, 6 down
typical move ±18.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 10, 2026 −0.4% −0.3% −4.8% −3.2%
May 11, 2026 −10.3% +0.1% −10.6% −3.8%
April 15, 2026 +20.6% +1.0% +6.0% +2.7%
March 11, 2026 +20.0% −1.6% +12.2% −9.5%
November 10, 2025 +21.9% +1.8% +13.3% +42.8%
August 11, 2025 −21.9% +0.9% −22.0% −21.7%
May 6, 2025 −11.4% −0.4% +5.5% −7.2%
March 3, 2025 −29.4% −2.9% −33.4% −33.6%
November 12, 2024 +20.9% −0.3% +33.8% +54.0%
August 12, 2024 −3.2% +1.7% +8.8% +3.9%
April 30, 2024 −3.8% −1.9% +3.7% +12.4%
March 4, 2024 +7.9% −1.1% +16.6% +22.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Viant Technology Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Viant Technology Inc.
$200M $250M $300M $350M $400M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $213M Revenue (TTM), FY23 Q4: $222.9M Revenue (TTM), FY24 Q1: $234.6M Revenue (TTM), FY24 Q2: $243.3M Revenue (TTM), FY24 Q3: $263.6M Revenue (TTM), FY24 Q4: $289.2M Revenue (TTM), FY25 Q1: $306.5M Revenue (TTM), FY25 Q2: $318.5M Revenue (TTM), FY25 Q3: $324.1M Revenue (TTM), FY25 Q4: $344.2M Revenue (TTM), FY26 Q1: $362.1M Revenue (TTM), FY26 Q2: $388.5M $388.5M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $213M
FY23 Q4 $222.9M
FY24 Q1 $234.6M
FY24 Q2 $243.3M
FY24 Q3 $263.6M
FY24 Q4 $289.2M
FY25 Q1 $306.5M
FY25 Q2 $318.5M
FY25 Q3 $324.1M
FY25 Q4 $344.2M
FY26 Q1 $362.1M
FY26 Q2 $388.5M
Revenue growth, TTM YoY Viant Technology Inc.
-10% 0% 10% 20% 30% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -5.5% Revenue growth, TTM YoY, FY23 Q4: 13.1% Revenue growth, TTM YoY, FY24 Q1: 19.5% Revenue growth, TTM YoY, FY24 Q2: 20.3% Revenue growth, TTM YoY, FY24 Q3: 23.7% Revenue growth, TTM YoY, FY24 Q4: 29.7% Revenue growth, TTM YoY, FY25 Q1: 30.6% Revenue growth, TTM YoY, FY25 Q2: 30.9% Revenue growth, TTM YoY, FY25 Q3: 23.0% Revenue growth, TTM YoY, FY25 Q4: 19.0% Revenue growth, TTM YoY, FY26 Q1: 18.1% Revenue growth, TTM YoY, FY26 Q2: 22.0% 22.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -5.5%
FY23 Q4 13.1%
FY24 Q1 19.5%
FY24 Q2 20.3%
FY24 Q3 23.7%
FY24 Q4 29.7%
FY25 Q1 30.6%
FY25 Q2 30.9%
FY25 Q3 23.0%
FY25 Q4 19.0%
FY26 Q1 18.1%
FY26 Q2 22.0%
Operating margin (TTM) Viant Technology Inc.
-15% -10% -5% 0% 5% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -13.3% Operating margin (TTM), FY23 Q4: -8.2% Operating margin (TTM), FY24 Q1: -5.5% Operating margin (TTM), FY24 Q2: -3.5% Operating margin (TTM), FY24 Q3: -0.6% Operating margin (TTM), FY24 Q4: 1.2% Operating margin (TTM), FY25 Q1: 1.4% Operating margin (TTM), FY25 Q2: 1.6% Operating margin (TTM), FY25 Q3: 1.6% Operating margin (TTM), FY25 Q4: 3.5% Operating margin (TTM), FY26 Q1: 3.6% Operating margin (TTM), FY26 Q2: 2.3% 2.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -13.3%
FY23 Q4 -8.2%
FY24 Q1 -5.5%
FY24 Q2 -3.5%
FY24 Q3 -0.6%
FY24 Q4 1.2%
FY25 Q1 1.4%
FY25 Q2 1.6%
FY25 Q3 1.6%
FY25 Q4 3.5%
FY26 Q1 3.6%
FY26 Q2 2.3%
FCF margin (TTM) Viant Technology Inc.
10% 15% 20% 25% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 11.0% FCF margin (TTM), FY23 Q4: 16.4% FCF margin (TTM), FY24 Q1: 17.4% FCF margin (TTM), FY24 Q2: 17.6% FCF margin (TTM), FY24 Q3: 21.2% FCF margin (TTM), FY24 Q4: 17.0% FCF margin (TTM), FY25 Q1: 13.5% FCF margin (TTM), FY25 Q2: 15.2% FCF margin (TTM), FY25 Q3: 10.8% FCF margin (TTM), FY25 Q4: 15.0% FCF margin (TTM), FY26 Q1: 16.3% FCF margin (TTM), FY26 Q2: 17.0% 17.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 11.0%
FY23 Q4 16.4%
FY24 Q1 17.4%
FY24 Q2 17.6%
FY24 Q3 21.2%
FY24 Q4 17.0%
FY25 Q1 13.5%
FY25 Q2 15.2%
FY25 Q3 10.8%
FY25 Q4 15.0%
FY26 Q1 16.3%
FY26 Q2 17.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Viant Technology took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $344M
  2. Cost of revenue $187M · 54.2%
  3. Gross profit $158M · 45.8%
  4. Selling, general and admin $115M · 33.4%
  5. Other operating costs $30.5M · 8.9%
  6. Operating income $12.1M · 3.5%
  7. Interest and other $3.7M · 1.1%
  8. Net income $8.4M · 2.4%

Shares of revenue. Source: Viant Technology's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 165 165 224 197 223 289 344 388
Gross profit 71 77 95 80 102 132 158 173
EBITDA 23 32 −32 −36 −4 20 31 29
Operating income 13 22 −43 −49 −18 3 12 9
Net income 9 6 −8 −12 −3 2 8 9
Diluted EPS $27.37 $20.64 −$0.63 −$0.84 −$0.23 $0.14 $0.36 —
Growth (year on year)
Revenue — +0.2% +35.6% −12.0% +13.1% +29.7% +19.0% +22.0%
EBITDA — +38.9% −199.3% — — — +54.4% +33.5%
Operating income — +70.1% −296.6% — — — — —
Net income — −27.1% −223.8% — — — — —
Diluted EPS — −24.6% −103.1% — — — — —
Margins
Gross margin 43.0% 46.6% 42.2% 40.8% 46.0% 45.7% 45.8% 44.5%
EBITDA margin 13.9% 19.3% −14.1% −18.3% −1.6% 6.9% 8.9% 7.5%
Operating margin 7.8% 13.2% −19.1% −25.0% −8.2% 1.2% 3.5% 2.3%
Net margin 5.2% 3.8% −3.5% −6.0% −1.5% 0.8% 2.4% 2.2%
Free-cash-flow margin 7.6% 11.2% 12.6% −2.2% 16.4% 17.0% 15.0% 17.0%
Cash flow
Cash from operations 13 19 29 −4 38 52 53 67
Capital spending 0 0 0 1 1 2 1 1
Free cash flow 13 18 28 −4 37 49 52 66
Stock-based pay 1 0 69 29 32 21 25 29
Free cash flow after stock pay 12 18 −41 −33 4 28 27 37
Balance sheet
Cash — — 238 207 216 205 191 193
Total debt — 24 18 0 0 0 0 0
Net debt (negative = net cash) — — −221 −207 −216 −205 −191 −193
Diluted shares — 1m 12m 14m 15m 20m 67m —
Returned to shareholders
Dividends — 5 0 0 — — — —
Total returned — 5 0 0 — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

7 of 7 checks passed · June 30, 2026
What it owns · $498m
Short-term assets $350mLonger-term assets $148m
What it owes, and who funded it · $293m
Short-term liabilities $150mLonger-term liabilities $30mShareholders' equity $113m
  • Short-term assets cover short-term liabilities $350m of assets due within a year against $150m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $350m short-term assets against $30m of longer-dated liabilities.
  • More cash than debt $193m of cash against $0 of debt.
  • Debt below 40% of shareholders' equity Debt is 0% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 29% to 0% over five years.
  • A year's operating cash flow covers at least 20% of debt No debt to cover.
  • Operating profit covers interest at least five times over No material interest expense reported.

From Viant Technology Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+16.1%
year over year
Days sales outstanding
136 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in advertising
Last 12 months unless stated DSP NEXN PERI NCMI THRY MGNI Median
Revenue, last 12 months $388m $365m $440m $249m $712m $742m $202m
Revenue growth, last 12 months 22.0% −0.2% −11.7% 5.8% −6.2% 8.3% −1.2%
Revenue growth, 3-year average 24.3% — 10.6% 8.3% −12.4% 7.1% 7.7%
Revenue growth, latest quarter 33.9% — — 12.7% −28.4% 11.2% 2.4%
Gross margin 44.5% 84.9% 90.2% 94.2% 66.1% 64.8% 40.3%
Operating margin 2.3% 8.9% −3.4% −7.1% 4.7% 15.6% −3.3%
Operating margin, 3-year average 0.2% — −7.1% −9.5% −9.1% 9.6% −2.8%
Net margin 2.2% 6.9% −1.8% −3.1% −2.3% 22.5% −2.3%
Cash from operations / revenue 17.3% 30.2% 9.5% 9.6% 10.1% 37.9% 3.5%
Free-cash-flow margin 17.0% 26.9% 8.7% 7.9% 5.4% 27.0% 3.9%
Free-cash-flow margin, 3-year average 16.6% — 12.0% 8.6% 7.1% 25.4% 8.1%
Stock pay / revenue 7.6% 4.9% 7.1% 3.1% 2.7% 10.1% 2.7%
Change in share count 16.1% −12.9% −15.0% −1.4% 11.9% 3.8% 4.2%

Median of all 27 companies we cover in advertising. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

27 advertising companies
Measure Company Peer median Rank
Revenue growth Growth 22.0% -1.2% 3 of 27
Change in growth rate Growth +3.8pp -0.5pp 9 of 27
Gross margin Profitability 44.5% 44.5% 11 of 22
Operating margin Profitability 2.3% -3.2% 10 of 26
Net margin Profitability 2.2% -2.3% 9 of 27
Free-cash-flow margin Cash generation 17.0% 4.7% 4 of 26
Stock pay as % of revenue Cash generation 7.6% 2.7% 19 of 23
Long-term debt as % of assets Balance sheet 0.0% 18.9% 1 of 15
Change in share count Balance sheet 16.1% 4.2% 18 of 24
Days sales outstanding Balance sheet 136 days 91 days 18 of 25

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$155M
Institutions reporting
121
Shares held vs prior quarter
▲ 14.9%
Positions opened / closed
19 / 16

Top buyers and sellers, Q2 2026: 78 institutions bought and 43 sold ; the biggest buyer was Manatuck Hill Partners, LLC (+240K shares) and the biggest seller Topline Capital Management, LLC (−194K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Punch & Associates Investment Management, Inc. $19M 1.5M 12.3% ▲ 11.5%
Blackrock, Inc. $16.1M 1.3M 10.4% ▲ 15.4%
Royce & Associates LP $13.6M 1.1M 8.8% ▲ 6.3%
Vanguard Capital Management LLC $10.7M 846K 6.9% ▲ 25.9%
Potomac Capital Management, Inc. $6.8M 538K 4.4% ▲ 1.0%
Geode Capital Management, LLC $6.1M 482K 3.9% ▲ 27.6%
Renaissance Technologies LLC $5.4M 426K 3.5% ▼ 3.6%
State Street Corp $4.3M 338K 2.8% ▲ 8.1%
Norwood Investment Partners, LP $4.2M 335K 2.7% ▲ 52.4%
Jpmorgan Chase & Co $4M 302K 2.6% ▼ 0.8%
G2 Investment Partners Management LLC $3.1M 242K 2.0% ▼ 5.7%
Manatuck Hill Partners, LLC $3M 240K 2.0% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Viant Technology Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $9.5M 102 trades by 5 insiders · 92% under pre-set plans
Net ▼ $9.5M net selling
Insider Date Trade Shares Price Value
Madden Larry Chief Financial Officer October 13, 2026 Sell pre-set plan 20,711 $13.14 $272,060
Madden Larry Chief Financial Officer September 18, 2026 Sell pre-set plan 14,602 $12.10 $176,684
Madden Larry Chief Financial Officer September 16, 2026 Sell pre-set plan 17,042 $12.52 $213,366
Madden Larry Chief Financial Officer August 11, 2026 Sell pre-set plan 1,431 $13.68 $19,576
Madden Larry Chief Financial Officer August 11, 2026 Sell pre-set plan 26,020 $13.03 $339,041
Capital V Llc 10% owner July 23, 2026 Sell pre-set plan 12,912 $10.47 $135,189
Vanderhook Christopher Chief Operating Officer July 23, 2026 Sell pre-set plan 4,304 $10.47 $45,063
Vanderhook Timothy CEO and Chairman July 23, 2026 Sell pre-set plan 4,304 $10.47 $45,063
Madden Larry Chief Financial Officer July 23, 2026 Sell pre-set plan 2,814 $10.69 $30,082
Capital V Llc 10% owner July 22, 2026 Sell pre-set plan 15,000 $11.03 $165,450
Vanderhook Christopher Chief Operating Officer July 22, 2026 Sell pre-set plan 5,000 $11.03 $55,150
Vanderhook Timothy CEO and Chairman July 22, 2026 Sell pre-set plan 5,000 $11.03 $55,150

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 9, 2026 estimated from the company's past filing pattern, not announced

  • August 10, 2026
  • May 11, 2026
  • April 15, 2026
  • March 11, 2026
  • November 10, 2025
  • August 11, 2025

Recent SEC filings

Data status

When each part of this page on Viant Technology Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Viant Technology Inc. in brief

What does Viant Technology Inc. do?
Viant Technology Inc. is a US-listed company in the advertising industry. Its financial year ends in December.
What is Viant Technology Inc.'s stock ticker?
Viant Technology Inc. trades under the ticker DSP on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Viant Technology Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Viant Technology Inc. reported revenue of $388M, 22.0% higher than a year earlier, according to its SEC filings.
What is Viant Technology Inc.'s free cash flow?
Viant Technology Inc.'s free-cash-flow margin is 17.0% of revenue over the trailing twelve months, ranking 4 of the 26 advertising companies we cover.
Who are Viant Technology Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Punch & Associates Investment Management, Inc., Blackrock, Inc. and Royce & Associates LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Viant Technology Inc.'s market cap?
On December 31, 2025, Viant Technology Inc.'s market capitalisation was about $806M, with a price-to-earnings ratio of 96.6 and net debt of -$191M. Market figures come from third-party market data and may be delayed.
How much debt does Viant Technology Inc. have?
Viant Technology Inc.'s debt-to-equity ratio is 0.0%, from its latest balance sheet (29.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are Viant Technology Inc.'s competitors?
In our Advertising peer group, the companies closest to Viant Technology Inc. are Nexxen International Ltd., Perion Network Ltd., National Cinemedia, Inc., Thryv Holdings, Inc. and Magnite, Inc. The side-by-side comparison below sets their revenue, margins and growth against Viant Technology Inc.'s.
Are insiders buying or selling Viant Technology Inc. stock?
Over the last 12 months, Viant Technology Inc.'s directors and officers reported 0 open-market purchases and 102 sales on Form 4. The insider trading page charts every trade.
When is Viant Technology Inc.'s next earnings date?
Around November 9, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Viant Technology Inc. announces its own schedule.