Earnings call transcript Q1 2023

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Hello, everyone. And welcome to Viant Technology’s First Quarter 2023 Earnings Webinar. My name is Kelsey, and I will be your operator today.

Before I turn the program over to the Viant leadership team, I’d like to go over just a few housekeeping notes for the program.

As a reminder, today’s webinar is being recorded. view will mode, be a speaker’s following in there remarks, a are and but listen-only the Attendees Q&A session. Instructions] [Operator

the you to over thank will Kunzman for us The webinar turn from today. Nicole over Group. you. We Blueshirt to And joining now Nicole, I

Nicole Kunzman

Good welcome Thank financial Technologies XXXX to first you, Kelsey. conference call. Viant quarter results afternoon. And

Financial Operating On Chris Vanderhook, Officer; and Chief Officer; Larry the and Executive call today are Tim Officer. Madden, Chief and Co-Founder Chief Vanderhook, Co-Founder

we based will that today, future law. statements, these that no forward-looking and I’d statements for differ call required like you as and could except to to our make including to undertake results obligation QX materially on remind to uncertainties subject actual risks by events, XXXX on from update guidance cause We our those that are assumptions projected.

release For for SEC. results actual to our Safe may ended report Harbor more statement, other statements, XX-Q in heading on as our uncertainties and to March quarterly described the quarter differ news today, filings that about Risk refer and information under from forward-looking the the risks XXXX, entire issued Factors Form cause with please XX, and the as well factors materially the

both During financial call, GAAP will today’s also measures. we present non-GAAP and

of Additional non-GAAP has which been disclosures reconciliation measures Company’s a news the regarding to and we these Investor SEC. website filings issued today with posted Page non-GAAP of are Relations the GAAP the measures, in including the release included our in on

Executive the I would of to Officer like Viant. call Tim over Tim? Chief turn to now Vanderhook,

Tim Vanderhook

for joining everyone today. and Nicole thanks Thanks us

in EBITDA started on our of revenue we the and contribution guidance. high to results ex-TAC report I’m XXXX exceeded with adjusted that, guidance solid our at end delivered and We pleased QX. financial

amid Our well, large stabilization. of on team opportunity, spending market capitalizing showing a environment signs our executed

platform in market long-term drive remains profitability. primary and investments focus thoughtful making to growth Our our win on and share

driving household such investing the Platform. primarily expanded discipline, balance and product areas performance. and reporting growth revenue and advanced with by for ex-TAC while as This was ID, spending Data contribution key led continue We Viant measurement to in adoption

most we’re trends the AI autonomous vision which previously of capitalizing we described One advertising. on growing industry our as have importance learning, machine of the is and of significant

AI. are an delivering using that streamlined of bid and prices ad all be selecting At Viant, we like products this with through can Tasks the and publisher complex creating channel, ad laborious or on ad inventory, focused automate campaign associated platforms. programmatic device, tasks, format, optimized for and ultimately

future is growth to substantial Our Viant. AI-driven approach for revenue create poised

built supply our components And integrations ad and on already in data tech, have all closed new have infrastructure era identity of the a We essential to to enables competitors platform many across time utilize loop ahead channels, advertisers. are succeed for To need of in deep for this area. AI data companies behalf of possess first ad that this apply for party measurement. to real we companies solve their of

Platform. place and it of one investments. effectiveness ad fine from advertising The for of a AI data growth. has comprehensive plan sources, customers. Throughout suite Viant patented Data is AI apart their This that substantial enabling the develop. differentiator various years us us Adelphic for foundation to from releasing of the competitors key piece Data is Viant customers and XXXX, including sets on It tools that and improve new our these and ID, stack. help And has driven taken a to will future we positions our the us vast our DSP for all develop, Platform our Viant Viant models efficiency in train critical data of centralizes a and quickly amounts household components tech tune

gives us leveraging in streamline models, integrations ad data on we ad training AI, our our to By the working are not extensive a and customers potential looking reason but individual their while still spend. optimize process, components. Our AI competitive just compelling provide a for only competitors advantage infrastructure also

capitalizing AI, growth In key Connected as in the strength segment strong to represents a we on seeing addition are of TV QX. a are of and also market TV channel. reacceleration Connected growth ad the a industry of we in

Direct advertisers optimization ensuring efficient receive supply largest initiative Our targets publishers inventory. our price for the the path most CTV Access, ad

to our plan focused our corporate a and launch impact sustainability where by are early program, to the program emissions time, end carbon which X crucial own Adtricity, our clients and goals. traction, on sustainability carbon of customers ad the measure campaign partnering This of later our curb we report the challenge, initiatives. reducing of Scope we has remains their finally, neutral are customer running digital with we being demonstrating industry on to with on the And campaigns. with which leadership discussed of we carbon Viant gained goal is reduction XXXX this helps emissions quarter, working our sustainability, of the recent same releasing year. are carbon their Last meet At

strong our with Viant second half a momentum XXXX. going environment, stabilizing progress initiatives, machine advertising conclusion, Platform gives AI In the and of into Data learning and us the

a and makes agencies. their is us and extensive business compelling substantial for future data-driven, for advertisers growth revenue our omnichannel choice poised platform Our

will discuss hand call I Now, more business. to over around the to the Chris

Chris Vanderhook

Tim. Thanks,

for Viant mid QX win continue was we clients. market with quarter as to strong very and agencies a

second, and and defend the propositions: in capabilities campaign against the helping is customers following as AI-based see new offerings; focus that the marketer relationships First, are and on content return we on chain only side revenue, improving supply price expertise on finally, value an with buy customers measurement efficient of owners, represent service and procuring areas side drive second providing win Meaning, return and enabling and on bid providing supply side. buy our market our and costs us more market, automated customers sole inflation; in leveraging ad algorithms through Our quantify independent CPM agency exceptional advanced representation. superior platform spend; third, our the performance These their customer through with to reporting delivering to direct deliver lowest spend ad the platform, that incremental value the is by none. to focus

Last set provide quarter, I priorities up like progress to business some three And XXXX. I’d key updates. for

are Data Tim As we Viant remarks, in mentioned and his improved with our adoption growth new seeing Platform. in

decade always us. We and for big over have for a a has been leveraged differentiator this data

universal our data for, to as this our machine conjunction to need customer expansion. core party in all revenue so also in we the be data to adoption investment learning, scale use are across is for they our Our terms focus of of our their platform This don’t dividends towards Data and clients able advertising. clients, autonomous in mentioned that asking is solutions is believe adoption their as want advertising campaigns. beginning of solve and confident existing marketers’ needs, is journey AI ability in a capability nearly pay expanding product. but we are part why of importance to with which Tim and in already first investing management

in implement of which XXXX. will AI programmatic several function a uncapped of have and second in ML in half is step initiatives number the actively to launch the and truly time Now of improvements is of advertising. we applications the to The number drive works,

on our clients Finally, content to premium publishers, from supply to Direct efficient with optimization content program impressions reselling. quarter is ad partnerships the last ad I by more for I Access. creating that pick and supply a path most drive Access on path that directly. duplicative provide our Direct up program their bids merchandise chain, want a announced to creates eliminate owners requests customers, efficient program to will called directly This result supply our

here ad drive highest the media, to lowest cost is focus while customers. of spend Our on for deliver return the helping our

grown happy key and tech I’m This to product discipline and QX, strong talent while delivering since Company that the our closing, course we report long-term to drive across maintaining on profitability. we’ve as XX%, invest and is board. in platform ushering our cost by into growth teams initiatives the In our

Thank you. over performance. to turn on our to more financial it And Larry details I’ll now provide

Larry Madden

Thanks, Chris.

a everyone supplemental information presentation. Investor financial our I’d posted Before I to begin, have we today’s like website includes that that to accompany to Relations remind presentation

guidance versus guidance. high versus of of in $XX and at end $XX the year ex-TAC our achieved X% was the and we As to outperformed we for pleased our the million. above high of of ex-TAC EBITDA $XX.X X% the mentioned, million, Tim an high of Contribution that quarter our year quarter revenue. report QX, X% end period, guidance and end increase a the was for guidance are decrease adjusted of for and for the contribution prior prior our period, Revenue million, the

our I would attention relative to like QX noteworthy performance. draw to points top-line several your to

with encouraged we than stronger especially February. than and improving saw, we moved the the by are quarter, We February trends as through March January, stronger

a second of were uncertainty. pulling exact in the back opposite As as saw each reminder, to customers XXXX, macroeconomic the progressed budgets we quarter due as half

of to not normally QX in QX big did see. as as also from We see stepdown seasonal a we spend

comparison current rates we the making which well saw growth out what I XXXX to rates, industry was also this is market in trends market overall QX in growth indicate point While we grew that a not have were quarter. spend QX year-over-year stabilizing. challenging advertiser pullback, the to seeing would that prior for yet the returned XX%, above

the decline in contribution quarter. modest ex-TAC Despite in QX, grew the X% revenue in

past. As we in have stated the

we of impactful and smaller percentage spend, advertiser price the to than becomes towards expect of faster becomes revenue. spend percentage mix grow total contribution ex-TAC shift a less fixed As as

quarter. value ex-TAC highlighted the a and we as adoption Platform, growing Chris customer and and of advanced the our the of Tim unique that contribution our products, bring the benefits drove to the As indication Data is customers. recognition revenue also in incremental reporting of platform newer the and earlier, growing our clear such Viant This of

of further expansion and move expect offerings adoption customer forward. we as these We

work ex-TAC more team developing in the products Our at that hard ML revenue even contribution coming cutting unlock and will also based anticipate quarters. has edge, AI we been and

become highly even We as available. will also are look AI and ML be sharing able highly results. they as and to greater not enhance details developments confident drive their customers they exciting forward more We to only that power valuable these will these of new be leverage but products to on our advertising the new innovative, strategies to

we retail of the and continued while verticals verticals. saw travel, customer our and of In business such online quarter, and financial our CPG, verticals terms as customer weakness across strength did across healthcare, see some gambling, in we services, automotive

in than terms in also total the of quarter, XX% channels, CTV spend the of well third the quarter. X% advertiser one represented and of audio Streaming which spend. more and a represented the video, of XX% in format From CTV over to total mobile, growing representing In includes perspective each total video and spend perform mobile continued exceptionally quarter.

Our and factor to commitment on a building all innovative channels in has dedicated future. are success, delivering solutions we across our key and to effective momentum and the in this been formats advertising

of increased prior year three nearly Advertiser average on with customer and period basis. spend up active a one per LTM times more net from on ended price and X% XXX year-over-year customer customers, new spent customers active flat the an customers spent basis, We fixed quarter the our on QX. percentage than with

less fixed basis, challenging a to continue customers decline periods. macroeconomic offset in be tend during percentages year-over-year customers, the spent which price by to number On of a increase, resilient

base close continuously XXXX. look mentioned a we we commitment setting our at with our in to platform, priorities line last for in improving As took customer quarter, our our

we large scaling and their advertising As existing majority that customers trajectory we upper of demonstrated growth spend base, our found the on our consistent trend customer of a analyzed platform. in the the

small others. scale customers too a were identified capacity like the to of subset not spending We and the also that have did their

on are we there as a customers. and negligible ex-TAC. will impact we on move through lower impact some anticipate customer As XXXX, negative result, through contribution revenue although, we spending some overall cycling be count and

cost a focus driving reduction a operating This decrease to continued result of on non-GAAP million in quarter-over-quarter the expenses operating X%. operational XX% of representing quarter, efficiency. actions the and our and we of Moving year-over-year QX took now is decrease in expenses, the total $XX.X

and Our EBITDA in our streamlined us continue while cost top positioning structure us priorities, enables for operating leverage to generation. investing meaningful

exceeded quarter, $XXX,XXX. of by the adjusted million exceeded $X.X guidance the For of million. EBITDA prior and This guidance by end outperformed we period by high margin year adjusted significant EBITDA our first negative our with the a $X.X

coupled efficiency factors expected operational improving and operations that key streamlining on focus to than Our contribution were better strong contributed these results. with ex-TAC

quarter outstanding. Regarding in liquidity, $XXX cash, we noteworthy per share to $X.XX ended the which with million translates a

million, to strengthen further us. the of upsized positions $XX million substantial from solid financial opportunity years. $XX April for ahead our working also five million well debt. we extending on extremely no our $XXX term capitalize and of credit had fully also to We capital positive This position, To existing while market foundation in also us facility the financial early

In terms ended of and common we shares quarter A the B with Class outstanding. share XX.X count, million Class

As we customer uncertainty our beyond, we demand. its optimistic remain Despite macroeconomic environment recognize and prospects. we look ahead the to in about QX future ongoing the potential impact on and growth this,

quarter XXXX, increase the XX% in of increase of to quarter-over-quarter of of million, representing a For a at expect second midpoint. $XX the the we revenue million X% year-over-year range and $XX

million, expected XX% a $XX be X% to a increase We of $XX a at of midpoint. a of contribution ex-TAC representing increase year-over-year Non-GAAP at expenses to of midpoint. are expect the quarter-over-quarter quarter-over-quarter $XX XX% and million million the decline million, $XX increase and in to X% the year-over-year range operating of

Finally, represents increase $X the and quarter-over-quarter $X.X range we million to of the million, year-over-year of increase a million million a at midpoint. being adjusted $X EBITDA expect of which X$.X

dynamic comparison the had year. making some across considerations essential our regarding for the anticipation platform, our QX overall challenging in of we quarter. coming for for market Amidst in and a months, this spend guidance, In to landscape our last like outlook the I’d it emphasize QX year, XX% growth a

ex-TAC revenue progress As we we to XXXX, rates. and through see expect improving contribution growth

in XXXX, ex-TAC We as reduction also adjusted sequential undertook growth move by to EBITDA of the QX driven we in quarter increase through year. contribution and each the we cost in expect initiatives XXXX,

in while continue to in scaling XXXX, of will strategic EBITDA expenses XXXX. the our We objective on spend targeted manage platform, while investments making closely meaningful with ad generating positive

with continued we market the of our the conditions. despite closing, pleased In current adoption are platform challenging

long-term optimally strong take positioned our growing significant believe that top-line sheet, EBITDA fully investments, and we points strategic will confident delivering and strategic management, advantage balance are to unique customers market us and our growth. differentiation our value of disciplined opportunity. that priorities innovative of new committed the to shareholders. are cost We remain we our to We launches and technology on allow deliver to focused Through product

over And that, I video That back operator now remarks concludes open with prepared our questions. today. will to the turn the Operator? to to it

Operator

from Maria so much, Ripps hear [Operator will Instructions] you with Thank Canaccord. Larry. And we first

Maria Ripps

for much taking Great. questions. Thanks so my

sort guess maybe budgets like what ad it this seems this your stabilizing about And hearing of second advertisers, conversations with broader your into as commitment of you level in you So, half you the of the at are trends here. kind talk level of I of year? Can what’s visibility are look their XXXX to point?

Chris Vanderhook

I’ll Maria the that. Yes. question. Thanks, take for

have really year. then didn’t themselves, that January, first Clients I budgets to a February, was by of think see there of I and would increased the to definitely that spending start the their we is, quarter second have full the are in the a we say, we materialized started marketers, the I agencies and of great all certainly increase. think year, that we uncertainty. for first them still lot throughout seeing for continue but down lot see trend what into the some the visibility quarter. to half spending still And don’t

Maria Ripps

there thoughts it. are point? the sales helpful. can here? starting your this And of the ad And what maybe structure kind of stabilize at as your you Got of is then team environment about That’s talk to very sort

Chris Vanderhook

our based. is sales geographically of Structure team

the We are in markets. all major

with the customers, efficiency that improve that it’s in with of some partners that country. visibility this we partnership sure as are right new aware we but with value clients in see our transparency, making But now. a our services. directly helps are propositions the I us just that both on initiatives talking out the have that side. themselves, as are the so half a we team, to really we that I of two-pronged One to well last enforce we training sales agency And dozen and that and the on markets operational sales really they at year our so expect think rolled clients about them. year, so it doing back well across approach or our expect are really I programs always as helps our agencies we well

Maria Ripps

so Got the much color. it. for Thanks

Operator

Martin Needham Laura has with And question. the next

Laura Martin

Okay. okay? Can you guys me hear

Chris Vanderhook

Yes.

Laura Martin

I have a that XXX, with your AI. I will is ask too, instruction. because Start

because So, though using that X%. impact even I up up And are language of was years, it like do new what AI, AI, tech models can Is many in that for AI your going these are about and are But digits, guessed your much notice been and double cost is XXXX large to dev how competitors. the ML you’re you please? you this of to you’ve you talking like doing AI new with and I today? old that’s AI using costs that the with these kind would’ve revenue us about different talk do things

Tim Vanderhook

part. first Chris the take I’ll anything forget. can add Yes. I

human starts I post happen platform to to an programmatic insights build, think close autonomous no that takes vision is what can we’re being campaign trading what that deem of the optimize, overall That to the goal we driven from is actual with created trying involvement humans the the without advertising to campaign. it of operate.

We’ve skillset vision. teams, engineering So, -- added products. certainly that’s you’re our the added to advancing to we’ve the around our long-term related correct, and product

intelligence the putting many we think true years, about and have. We learning that have now deep I actually been artificial of on for data using machine it’s learning top

all it’s model remarks, the necessary. a training about talked get dataset. my stable you When infrastructure AI, components of lot the very about -- our on world a In into I the

gives us dataset. ID stable household Our that

important models measurement area, and these able drove an train on buying, loop that which to well, advertiser. and attribute as on ad to sale closed just but not appropriately which able being is the for bidding We’re

is vision long-term autonomous platform. a fully So, ad

areas like the process intelligence bidding and and buying, the using be applied. will learning throughout we As artificial go programmatic year, of different machine

second Google, pipeline. at we’re Regarding large from starting products our that into we’ve are years Those our certainly to to the roost product way them the work how half. language their coming products future Bard that on own of in for new looking AI-driven open apply at certainly AI, looking models, working be all in those. been we But should are

Chris Vanderhook

UX, little bit of And a large you reporting. externally UI you of customers. few in models both, and of if predominantly just it add that, of something AI use just kind think see to time terms and a comments, ML, for language can as you them and making to in to also can putting think you kind if or Anything you’ll in prompt opposed to you take which buying, selections, can execute us

they So, get can that’s us, measurement and with a with an time. focus to a ask customers where versus answer work running reports just question large back our reporting saves and

So, language making in household around that’s where or predominantly things particular is used. you And performance, creative will campaign associations formats… typically then a maybe and models see between large ML

Tim Vanderhook

devices, Formats, publishers.

Chris Vanderhook

optimization, and like we’re have our lot stepped results and Right. investment doing some up auto campaign of really really performance. but a great Anything for seeing those just we’ve years, things we been here

working some about of things So, that we’re on. excited the we’re

Tim Vanderhook

the regards what’s us, about around rest year? In the engineering you to product this costs for Larry, and can going just cost of talk

Larry Madden

the up was do release, if like at -- mean, the we something look it on XX%. I I think you P&L Yes. earnings

to our overall certainly -- We are to see last year last quarter, very engineering being from as and That pretty we them can you tightly. resources year. expenses side add controlling continue the even said, relative to this numbers, overhead and will product

will we’re that We’re the putting team grow being year. very throughout where strategic money, we to and new continue about

Laura Martin

stuff. you, helpful. super It’s new guys. That’s Okay. all Thank

second customization. will do is The your I path supply one

the So, disintermediating your with is GroupM one is disintermediate like optimization? are desks DSP, access supply where trade is doing they Magnite, yours the this more SSP it is like product, which direct side don’t you this for with where or what

Tim Vanderhook

look at that somebody. don’t I Well, disintermediating it it’s

our publishers. clear, whole do side we the However, buy view. we content just we’re is is highest to doing aiming only. their directly, about What the is represent get the connections the owners. procure with We can Anybody side inventory point not side, the owners. directly -- They the price. the inventory they’re their And connections ad merchandise our to we’re it’s DSP, buy is the direct the possible content and with or goal lowest as what representing represent am today, to can’t buy-side what making of representing -- I publisher possible serving very represent looking I represent is a so value rings that so price. on especially the in a making supply publisher -- proposition if representative also this do market. would of in clients. type true That’s That customers, we’re

When use So, instance, is the about SSP, in an with really party be what content might signal. really benefit anything owners, an as may with an And as if comes some physical this, directly whatever to they’ll the creating they’re that content end all our could in if first better mediation also price. or But is better or clients There it’s for case using innocuous the be sort, data an address, it address directly up may email which IP -- or say on of it them. signal. match, added to for the that then doing it is of in transparency but continue That be we’re be. authenticated owners. CTV, you connected you’re getting let’s

publisher a really there’s lot We the So, with. any really who group. again, don’t one it’s there. disintermediating works But not of at benefits care aimed

the making direct transparency. connection We’re and possible just price for for efficiency most

Chris Vanderhook

the in And middle. selling on rid of getting really on focused resellers --

Laura Martin

Super. Perfect.

trade like desks. more it’s So

you this Thank much excellent Really Okay, quarter. sounds margins you very guys. great.

So, congratulations.

Chris Vanderhook

you. Thank

Operator

to JMP. And moving Boone Andrew on with

Andrew Boone

about Can going what specifically should then, It rest are the a think what’s of on like remains there as to client we and about to it we whether expect the proactively guys ask certain sounds and you kind stay customers just And about are like right? Thank you about how on. are the XXXX? wanted of you balance so are to revolver, and that talking bit I on bit guys balance. sheet? a the little good just guys you that Kind a to portfolio. philosophically the the with million in ask talk suggests little idea us do about increase the much. cash cash to Can thinking about I’d you looking you that the remind $XXX balance something of

Tim Vanderhook

On Thanks customer Yes. Andrew. account.

with we Just there, really, this those maybe had keeping a went spending lot so fit. handful really either over of year, to not And just the pace a background call for we customers other we there just customers. we said, increase best just platform or isn’t what we’ve and time. need some year that they’re small. on their have look year And to And really, too over customers the -- of they’re ability isn’t spend

amount And and so of -- a of X% us. we spend luminous expect active on -- ex-TAC if but I a put customers, contribution a approximation num it’s maybe rough

all, So don’t material at about but to of rest that year. do we expect off impact we the see cycle the there any number

Second can take question, that? you Larry,

Larry Madden

of I clearly, certainly great strategy do considered this will Since we a the liquidity, sheet have of terms our to continue M&A we in point IPO, In we’ve yes, at and time. mean balance that. part

to for private of kind to not valuations terms -- way the market started the especially of think of in are public closer now coming the there I some reset coming valuations companies closer markets. all in but that generally has the

opportunistic. be will We

we things year it haven’t we certainly at left. done anything end facility. credit had -- it yet One, continue know. in coming look But was as terms near time We a to at term, are we the We about this of of its that. do important was and felt it you will looking

receivables not is than manage facility. to more it. Our much to and It did it upsize to the balance enough that cost upsize

it markets. So, given to we the capital raising credit market was move -- make smart overall and thought a especially

Operator

next with our come question will from Andrew And James. Raymond Marok

Andrew Marok

little on trends say you the weaknesses the Can normally Hello. see really of in you spots didn’t you on but for Thank mean, a Anything give seeing Thank taking you bright at CTV CTV? in granularity you. start terms potential in my or format, are I that growth be time. or can growth this I helpful. would off presentation, questions.

Tim Vanderhook

QX. have stabilize was CTV QX, we in slow seen into Yes. but that

see So with Larry, the did focus seen CTV. pulled of a pullback change have getting that brand performance advertising moving we campaigns. and can But tactics into QX. driven color? any we provide stabilize back, marketers you about in into talked by We other

Larry Madden

Yes. mean QX. up nicely I date, to very quarter it’s in

thing we last if other The is, I you would quickly really year. growing recall, were say

on stability due I back QX. at. in it least dollars turnaround sign again, Tim is are bit brand that seeing platform, bit QX we look relative at and So digit a partly decline, were think low of to the And comps to but we challenging that certainly But coming into QX, CTV as single in QX. are said, a soft the which certainly another is

Andrew Marok

Direct then generally on perspective state Access the just the of more potentially that with and, of have you blurrier. does how ad taken Really a becoming color lines But thinking general, really roles that like, thinking in helpful like Direct guys of Great. the the and are on the a supply giving guess, second things demand I your space. in market a between that. of traditional and kind tech lot Access and companies my on think from market definitions SPO And those helpful. I functioning or impact

Tim Vanderhook

our just remains, are Yes. to going change side. It’s question, the are the Like, roles focus think going we much. represent don’t to I the really good and definitions buy a

to go out do We them. what’s are going to are for agency. and represent we the their And marketer best and going

price. possible and them lowest the We get are go going to out

We are going to focus around campaign performance.

do. to to show of We what our money they that’s them at are continue we going their in are measurement to the the offering. going And day get for end what

out, lot I come continuing these are me of are their maybe too, some to of them think a that announcements copycat.

believe I some end both you do at one maybe a marketer, have those still represent you impact, other believe to to they owner. I can’t think represent group’s do I the companies that feel to going really needs they the day And really we serve of -- optimally. material are content when got like because things. still the don’t both, the to need the parties

Operator

We will now hear Craig from Jason Hallum. with Kreyer

Jason Kreyer

So, two for me.

own market. -- you of solutions party on heard that able about different in bring Chris, data cloud the the to uniqueness being the First this data platform. several talk about talked to your just We’ve the and first

to uniqueness just there. expand you about see the on talking wanted you’re I So, if can that

models, like on seems just Second the acceleration one onboarding fee? for of like fewer over pronounced Is fixed you movement would are or Larry, you’re two customers be you seeing the to a it just metrics that at an revenue percent more for gave spend. on

Chris Vanderhook

the take first I’ll one.

the So, I Platform. did Viant talk about Data

really is matter hosting like or Snowflake Data with done Today, at centralized that really the essentially, it have it no a Just allowed have data XXXX, XXXX, Platforms rooms you since a Back XXXX, Viant their XXXX, housing wasn’t our those taking clear, Viant data, cross and But further. companies place. marketers to call hands addresses, And has are since like lot integrations years, have data. itself. XXXX fingertips is in now probably in that so really that They things number of really another a customers it are housed Amazon. it platform, UI of that we marketers. Obviously, step CRM on didn’t they the XXXX, CRMM what cloud onboard clean now exist of in physical email addresses, made in data. like we’re that for our really where

to don’t great And many these, marketing use it. rooms they I’ll database, for services. moved good a really of how get functionality in have that have clean you, aren’t of as lot around tell general to rooms, out A the these these customers they clean as but know

to So they need them. companies like us with integrate

company, the will own for going stored instantly allow going ad party be for with in a ecosystem, publisher, their So get companies really data say say of in. them we measurement data allow more they and -- But of marketer house around Snowflake, data. then a where targeting that away, in device That’s a their be it’s represent any it their the really to create in, use our using that environments. able first IDs have. importantly, and whether data exposures everything help that their we customer with they to match -- Platform match in that a help any authenticated Viant anyone most to comes future’s Data the room. let’s need match going to be clean But with And out market customers they’re easily

set incredible an here. of there’s features And other

workflow to so things It creates in a We’re it’s lot the people. platform. stuff ton And lot why It them a are a more automation. of for recently gives we’ve been a There’s of scientist excited single XX seen the workflow about really power adoptions, of XX around essentially efficiencies. and good. of the this that already really data it provides

a -- lot There’s but measurement. We’re companies, getting their really lot their excited first data, this. not a companies clients usage as personalized across data, party both not clouds people around a of of first a messaging party of used are for well it’s lot as getting lot of talking matching of

Larry Madden

Jason. In of terms mix,

continued down to been of price, was starting nicely. the Fixed in it has decline now and although positive. rather the QX, QX. in spend grow total in majority So, QX which in large That for platform. QX, stabilization QX, in Certainly moderately price some on spend very fixed percentage after of stabilized. it see beginning further stabilize to it has it’s in is steep a We time,

in tends know, It’s be It’s nature. quarterly As tactics. dollars. discretionary price short-term you more may to bit fixed a

to So certainly compared spend. to dollars with those of as first, get pulled macro tend percentage issues, back

a price side to starting which we’re good. well, on is stability fixed as the So, see

Operator

will We UBS. hear Chris with Kuntarich from now

Chris Kuntarich

you guys to of starting that CPG, -- and shoots green the quarter, had auto you was some declining. in both and called out this were last you CPG was see quarter think, that that one think verticals I I flagged

if a curious broader you seeing. just CPG update just this specifically curious us give if retail were that or dynamic that was So, you a And of specific more spend. if can customer around was for then more more trend

cadence. You’d the monthly laid nicely out

of kind how and If through that cadence in May you April could walk monthly Thanks. today. that just and looked

Larry Madden

I that. take Yes. can

So in CPG bit a QX. off was

is quite the X% now -- we it think to QX strongly then, nicely. few X% has in to side, coming in in QX. perhaps be it is relatively retail quarters, for softness on a And do will -- that seeing to similar did back spend, like pandemic, but this probably will I growing, grown to a be CPG it’s quarter small It’s still -- down having Auto our turn in total looks it are second it up a or been -- after row We some back fairly coming going looks X% of It the continues news. in is which have well QX. great where the QX.

Chris Kuntarich

squeeze Got the in things. And of could Okay. just one if on OpEx it. more side maybe I

kind guiding digit OpEx. high of mid single think, I to a sequential up you’re in step to

higher step Just the guys for we’re or towards more be in half continue ups as -- the should back of below we end curious, through that to year, end product. thinking if that or lower the the you further thinking even invest as

Larry Madden

year, the this. In give I’ll terms full you of

driving So, XXXX, mid think digit on we but increases. in high very Again, returns decline. and be for we’re OpEx, have are get we expect, said, to single mid quarter-over-quarter being operational OpEx will probably XXXX single single call QX digit That investments -- digit high play increases making terms percentage efficiency, to we them. QX than lower do it from in will also will we focused long-term of us that that

mid-single quarters, will it increase but call significantly, digits. not the coming So, in it

Operator

at questions time. this further No

and have. Tim, I’ll you closing Chris comments it So, back might turn for you to any

Tim Vanderhook

quarter. we’ll for you see everyone today, next this you and time joining Thank

Operator

everyone, you Enjoy And that Great. see We’ll for Thank conclude summer. today. next again, much. does time. our so your you webinar

Viant Technology (DSP) 8 May 232023 Q1 Earnings call transcript