DSP - Earnings call transcript Q2 2024

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Operator

Hello everyone, and welcome to Viant Technology's Second Quarter 2024 Earnings Conference Call. My name is Annabeth, and I will be your operator today.

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

As a reminder, this call is being recorded. [Operator Instructions] Thank you for your attendance today, and I will now turn the call over to Nicole Kunzman from The Blueshirt Group.

Nicole Borsje

Annabeth. you, Thank welcome Conference and Technology's Quarter Second Good to Earnings Call. XXXX afternoon Viant

call subject Vanderhook, that to and our guidance are speak events, Officer; our based On Executive required those initiatives to are and make update to, law. to and could today the Tim results our we that future of we including, Vanderhook, and Chief assumptions Officer. I'd development actual will and projected. platform industry to but remind Madden, as obligation differ by limited or that uncertainties you today, Officer; statements Co-Founder trends no only XXXX, Co-Founder Chief today, as Larry for Operating statements on QX risks, and these forward-looking Financial on revise like except from call undertake Chris Chief These cause forward-looking materially and statements, not

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

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

to Officer the Vanderhook, and page SEC. I measures, company's release comparable of over presentation, these a of measures issued reconciliation to non-GAAP earnings Executive in with regarding Tim including in filings measures, in the Viant. and turn our on financial been which call GAAP Investor website Relations directly the Tim? Additional the are the the today disclosures posted would most now non-GAAP like financial Chief our of have included to news

Tim Vanderhook

QX seasonally second milestone and with our exceeded year-over-year, in contribution XX% XX%. our a Nicole, We QX in advertiser notable platform, continued XXXX. us that for Revenue spend of record today. grew joining everyone strong the while saw quarter grew thanks Thanks, on ex-TAC momentum

our on drive year-over-year disciplined focus $X.X our quarter. adjusted efficiency am We on to innovation our of ongoing strong and only execution, and remain XX% position and couple the buy-side million increased the consistency laser-focused as I EBITDA, results. differentiated building platforms ongoing which in management market. with expense commitment pleased drove a continues to on independent, self-service, in team's improving to in Our outperformance which X

the to across growing capitalizing across shifting the the As players the largest share industry. the is such antitrust the Viant dominating advertisers as with are industry, advertising our centralized Google, Department Justice's Many handful the behavior advertisers on with market a the over market. exerted power demonstrate programmatic alternatives ecosystem. are to of committed of of and the ad-tech look for ecosystem, Discussions unhappy that in legacy sentiment the players partners against lawsuit frustrated in

a and I believe am positioned vision our an market. capitalize to products changing companies, supported partnerships to are for journey. alternative content our the our for significant area ability autonomous in uniquely is is on solution on AI key the integrations this in of Major our for by differentiation and reflected We agencies, Today, features. Our we building. capitalize we owners, changing coming milestone and this are sentiment. A to us number DSPs of results award-winning in data advertisers largest advertising, suite are to growing and to thrilled ever-evolving and announce the us of sentiment

at the is AI revolutionize reach crafting by name we ad to campaigns audience initiatives in AI-related designed announcing multichannel seamlessly time ViantAI. suite the rebranding digital of AI that to the properly brand are right development, amount with ViantAI the experiences are so today Given our high-impact, suite, our ready we the of precision. under right ad

This key rebranding focused with is agents Chat under developing of This Data, of are advertiser. that out-of-home. campaign AI encompassing that planning, us media mobile latest LLM of ViantAI. ViantAI ad Already AI are large recommendations and on websites, makes digital media audio, of or suite apps, CTV, comprehensive and a launched the spend, thousands Previously is advertising: includes We campaigns, Recommendations Under locations. and any it designed high-impact omnichannel streaming worth apps, internally, It Optimizer, ad and the products. on like our of buying, in model, enabling X language has optimization. to Bid been across AI plans measurement, display, as innovation create deliver programmatic out-of-home announced our of heavily CTV selecting trained budgets components digital delivers to high-quality LLM. automation channels planning, years' seconds. achieve for historical plans goals

substantial, this this about are feedback. Under our version receiving of bit. and improvements talk will version X in We Bid The showcasing we to released and are in now achieved with are more clients Chris tremendous buying, QX. a X Optimizer

we previously is with be announced data. with customer tested continuing measurement, For to Data, Chat live which internally

this out great We in and be strides expect product have to QX. made

application audience employing is towards to we like of which in channel in ViantAI final in campaigns discovery. Investing an expect be dayparting, ad future Autonomous Our phase investing in adjusts publisher advertising. release agent full autonomy advanced dynamically of is and XXXX. allocation, the real-time, selection, This that AI-driven the Optimization, will strategies

we about forward excited transformative look sharing impact as updates are to that will have, the progress. we'll more We and

where grown by trailing XX-month continuing scale are evidenced with we our we basis. Our who cohort, vision customers as with ex-TAC resonating to us, our have a XXX largest contribution on customer are with seeing the XX% expansion is top customers,

continue are well our superior we which the these scaling is testament add a we and to for with new agencies, believe to and agency partners advertisers service results are them. We within driving

the customers. more expect drive existing in tailwinds from market We continue on favor our to capitalize spend to and

success platform, We talk also new shortly. great will our year about this have had Larry to attracting customers which more

of the long continues customers and our to grow, we to these feel win about over large good of pipeline advertisers very term. Our more ability

with success is driven focus programmatic, fastest-growing and also streaming CTV investments by the our into customers audio. and channels in notably Our

record these streaming quarter. The in market, our with year-over-year than XX% momentum the spend CTV strong both on than the reaching particularly see quarter. audio channels spend our in growing channels, the quarter, the outpace almost doubled in to on while more continue more to represented growth in Together, XX% levels platform in continues platform We spend of year-over-year. these

they cookies. absence outsized the advanced capabilities measurement to allowing to targeting We expect content growth access for market other channels while provide see of them programmatic the also some as most to and in premium to scale, relative at of despite the continue

investments Access Chris which these program, customers will our Direct more to a continuing this seamless access make in on gives bit are to touch our in more. We channels, and

continues the Household ID in market, presence to for enabling be cookies. a patented all the In channels, differentiator to of plan, customers regardless across us campaigns addition, our measure of buy, technology and

to last deprecation. over advertising with across of announcement all with news I We share things more measure alternative omnichannel this Household and but the quarter, measurement doesn't execute, CTV turning touched Google's our linear our effective on on channels, driving Before the social Chris, way efficient, change is to some recent course on such briefly formats. programmatic is core ad only customers easier, thoughts for making our and to ID. vision leading and wanted capabilities more this cookie CTV campaigns to include reverse TV even across and force identifiers beyond a ad and whole, to as targeting industry as a plan, overall

channels focus we cookies, than across and time we our As for years. helpful see this cookie-free eliminates uncertainty the industry on this last leverages platform few of complicating anything, believe noted for like XX% overhang industry's third-party announcement landscape from last increasing Google shrink over the has to quarter, the we that been the spend CTV. If number as continuing less given is the it

drive strategy to long-term we market advertising. With remain very and share and forward this growing over in to and large it Our and programmatic growth capture that, look to Chris. I'll for unchanged, turn focus continuing

Chris Vanderhook

on a excited are the significant want and over deeper were X.X saw that seeing. I officially Tim. recent business in product in of dynamics we is version what few to we minutes Bid updates to Optimizer out which driving today dig We positive June, on X.X. our roll some Thanks, savings spend

an a which bid AI-agent achieve data predictive bidding and money price processing, ad CPMs Optimizer on is higher by achieving solution lower better enables discovery, performance, driving reminder, and and time marketers to return real-time spend. Bid As customers saving ad

with of They by excited seen Optimizer requests impressions particular, deep Our cost per over XXXX. in pass This Optimizer. from to they and performance, shows shared is performance and our client customers. A in Bid savings early savings tripled along are millions QX the who which Bid learning media upgraded and XX% capable customers are number that of in costs, of began powerful since XX% impressions to a up entire of stream for bid neural our the spend on customer has is Optimizer customers. Viant's second. running to continue adoption about solution better example the seeing, we X.X our which version we drive its has savings we the X.X, savings processing product and incremental they Bid from savings one Juice and that of been of the significant benefiting build on platform, with expands rollout. our using feedback on to to for on help have more now can expect also Media, under Optimizer Bid powered our We're driven potential trained their that cost network the platform notably

becoming both driver well closed-loop offline of ad increasingly demand increased for spend, integrating are customers. important These continuing on seeing lift online incrementality and as our advertisers solutions, are we provide meaningful advanced as contribution a and return which reporting, activity, becoming which reporting Next, ex-TAC. for is with solutions

Customers and marketers reliable and and solutions quarters. for gardens, products continue the really having pay the in advanced figuring completeness incremental We attribution they are shows data will time drive signal willing reporting out is certain what's last-click losing what that advanced coming campaign behavior, driving of getting the are clients because performance. expect advertisers capabilities channels walled ex-TAC offer, hard looking in smarter these have get or Within and we really are and contribution incremental we contribution sales. revenue value to to and a are driving seen reporting for on that but data are

all of and Another is acceleration prove driving already in the to products clear that the a is time for incremental why walled dynamic data your impact the Analytics are going you dollars the more buy clients growing creating which allocate see ads continue gardens, play grow many with the impactful demand. dissatisfaction merely people drives This that from. The and to and revenue, to the is purchase. show out where if walled CTV ads so who CTV companies make to channel that for consumers to We CTV. they is at to more want outcomes, is dollars already new streaming that industry gardens show most CTV.

Access number There are increasingly a Direct us Direct in why and choosing that Viant advertisers the Our DSP. benefits driving reason major offering customer significant differentiator are is for CTV a Access are a of of adoption.

first is as we addressability same users are CTV owners, of logged-in The content targeting premium the walled that gardens. enables which

our players channels. And that set joined VIZIO, they we from eliminating content CTV scale clients NBCUniversal, The of are publisher premium most Disney, Roku, have we now are rise experiencing owners know Bros. source. the premium other the streaming the content of a incredible and the Warner third, includes and in directly directly an world's is over buying paradigm prefer is user-generated are today Paramount, and platforms. partners This with to platform and and to campaigns structuring that the lowers the ad Discovery, gardens, bringing with Access middlemen. the for the nonvalue-added larger Second with content premium Samsung, much growing social rules tech. list dissatisfaction content who price Direct on around content walled accelerating quality of advertisers many the premium new Advertisers because trying

industry-leading and continue to program, Access contribution addressability provide we our real As to we for deliver measurement advertisers. Direct scale improved

spend with QX, in prior half and Our versus came program resonate the CTV our to over through Direct Direct amounts of more period. advertisers, spend Access, than year the continues Access well twice

for Tim Household that scale differentiation due the solution platforms platform our unique expect ID. they example our which of how add XX% and of their results ID are great companies holding offered the over to technology, efficiency to time. We demonstrating clients. Media clients in leveraged provide the underwhelming quality, our our trend run ad delivers cookies. The test Havas area. And I have a for as success their approach, I'll the call compare publishers, and in The reach terms Where largest recently ID in space alternative ID what presence more scalable transparency, with performance touched content across our given conjunction XXX% with opportunities, cookieless out have Access. And client moving to finally, cookies. want the this one tests all media Household Direct in conducted our IDs a Viant cookieless XX% this of two across the in competitive healthcare done other is to had the a compared scaling of solutions superior by ID identity the This the the with stalled experiencing Larry and Household cookies achieved forward cookies Other other that, available been regardless that approximately world, of was in have on effectiveness the detail the in We to across to a of scaled market on addressability, turn performance. to measure campaigns, Network, than XX% to ecosystem. alternate a the of are financial Larry? leadership test Viant the market, Household continue one less the premium rates versus of our to of using is

Lawrence Madden

you, Thank Chris.

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

our platform of ranges, As continued our we end in contribution and Tim ex-TAC. adjusted strong contribution ex-TAC both again we record the once toward Revenue our where achieved spend and we XX% momentum second growth EBITDA. on in the guidance outperformed quarter, were high discussed, on and

driver over both CTV Our across grew XX% XX% with a of big in on nearly continued platform success and basis, spend channels. the be audio for streaming QX the in On CTV over and record and represented year a combined spend quarter, in performance to audio spend streaming total of quarter. year our

also continue in customer AI which We across and quarter. incremental to drove adoption from the contribution product our meaningful revenue benefit increased ex-TAC suite,

independent platform. to looking the shifting of one expect in market there As This and alternatives for continue the in a is discussed, us larger Tim outside advertisers enabling is sentiment players the are industry. where legacy new, customers our we to larger dynamic partners in moving to customers self-serve the while existing platforms adding buy-side scaling that also trend market, mid-market our continue as And the few forward. further

through increase $XX.X of upper for XX% On the year also percent range. revenue customers I'll customer outpacing contribution year quarter generating of our on our In scaling trailing ex-TAC increased These really from results to and overall XX% On existing over of basis, that, the XX% quarter-over-quarter customers, $XXX,XXX basis ex-TAC prior prior period, Revenue the also in of during period, from number contribution ex-TAC range. upper period. us on rapid a of customers XX% was contribution spend XX% past now increased for as quarter. top and of guidance for of nearly have the positive continue generated market the trends terms an quarter year-over-year quarter-over-quarter a customers, the was average We're our the million guidance year contribution XX of by percent million, pleased ex-TAC turn XX%, the basis. in of a the of increase growth. With and spend an million, nearly Contribution enabled increased basis, over number with QX. nearly the a versus of second half new the the added of XX-month in the of customers $XX.X QX. ex-TAC on to generating QX, increased $XXX,XXX $X half versus

public In the services, terms quarter. of of biggest in automotive customer verticals, healthcare, travel, the growth consumer goods, were and drivers

of total quarter, meaningful nearly ID other and platform. Streaming year-over-year on Customers execute In their platform. to Direct a growing continue audio the representing are a the spend the terms year-over-year on XX% basis with of for in representing record are spend across in campaigns versus for total customers cookieless quarter, providing growth basis customers platforms. technology to and achieved also spend on a channels. return doubling spend us, Household ad increasing platform. leveraging Access the and almost these CTV channels, our levels than our spend XX% omnichannel continues over more also of and CTV on be to audio on achieved high-engagement value differentiator XX% levels drive in on strategic record streaming higher

represent which a over quarter, video total in of includes spend formats, continued of and quarter. our CTV, XX% on video, and over In XX% combined platform on to represented the terms audio spend the of total in basis

the Turning now for quarter. operating to expenses

QX, and to operating prior $XX expenses specifically investments making ourselves increasing on year market of and remain Our best in X% technology position XX% strategic an non-GAAP our million around and the increase our representing business, totaled gains QX long-term for in initiatives, profitability. over period. AI focused over share We

we XX driving invest, efficiencies employee increase over XX% remain contribution the hyper-focused to we able over by to and months. on have that internally, end, ex-TAC also been As last we per

over points EBITDA the period the of more the prior and end from high of the quarter, an increase year as percentage percentage million, was of Adjusted above from guidance year generated quarter. points and ex-TAC contribution of percentage prior quarter. second the the for prior representing EBITDA we period our a than of improvement the of For an over prior X margin adjusted $X.X an XX% over quarter, XX and XXX% XX% increase

compensation compares of a to second in income, GAAP the representing Non-GAAP A net for earnings million quarter, year-over-year improvement. the of XX% impressive items, share A in which million, excludes $X.X and prior the the prior quarter, to totaled compares Class loss $X.X prior an income prior of Class were period to which which compares per year which net in per totaled million in net income share year GAAP GAAP period. per $X.XX period. in the compares the loss million, stock-based quarter, other share Class period. A breakeven $X.XX $X.X the $X.X earnings which non-GAAP net $X.XX a second year the in quarter, For to GAAP totaled Non-GAAP

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

$X the also cash our no flow. inception in repurchased repurchase of for common free A In program $XXX Accordingly, and approximately cash August in million QX, from of equivalents, and cash in May of had early capital Class $XX we've we quarter million we cash undrawn operations $XX of generated have facility. also a we cash remaining have stock million $XX and $XX credit of million program. total repurchase and with end, shares at to share million authorized Since We our ended million of and a we million continue $XX access XXXX. to X, working through $XXX XXX,XXX flow quarter XXXX, million the debt on

Turning now our to outlook.

the million X% the growth representing the operating year-over-year range a million increase are growth at Non-GAAP of Contribution year-over-year midpoint. quarter-over-quarter of representing range to at in of the and and of between be at increase increase million representing midpoint. year-over-year quarter-over-quarter and X% is of $XX.X million, XX% XX% to third in in $XX a of quarter-over-quarter expenses $XX million million, quarter of of increase $XX revenue midpoint. $XX QX, For and a to of the be the X% XX% expect currently to ex-TAC we expected XXXX, $XX.X a expected

increase are quarter-over-quarter the midpoint. million We margin across closing, represents the XX% midpoint. In the range $XX year-over-year seeing EBITDA as percentage expect of expect of finally, contribution be at to XX% are $XX momentum we and which of we a to And we adjusted increase at a excited a the of by an business. adjusted ex-TAC in XX% our million, EBITDA of

and our Our platform, scalable are new spend the on existing customers to increasing customers mix. are we adding

our and in part growth pivotal on our Direct for and adoption for leadership a will audio, share increasing driving the to our and value Access continues Our overall by CTV AI performance play across open to the ahead. And for it is of ultra-focused the market streaming program, turn to questions. product suite across now in driven quarters this the Household and expanding our operator incremental in part We business. customers line position gains. ID momentum the over building I the back Operator? growth with on remain And that,

Operator

first Raymond Marok comes at from The James. question Andrew

Andrew Marok

about business I days hearing but Wanted on the early size very remaining. opportunity is guess, tailwinds to of the the the providing talk right And the you of is little a services give the bit a with it interesting. get now? can AI is Obviously, to get or seeing it all? you solution-by-solution you approach, just sense you're your AI-enabled it, just penetration a one, rates them is these among clients side,

Tim Vanderhook

together, It's you. Tim, and that Yes, again, thanks quarter. on comments a And going solutions prepared for outline we're we our to X It's pillars some in long-term, it overall, goal functions automating of the to autonomous work our suite where good those that's, the see do against advertising. tried we towards the remarks. all of as and see

Optimizer, of adoption been all about impressions, there. of has and it solution-by-solution. XX% the now Bid talked second generation to currently, seen up tremendous So We we've

some I XXXX, idea side think is complete all the point at working we autonomous they're together. in when that the

Andrew Marok

maybe And one quick on Direct then, a Access.

was conspicuous in its absence heard So but an Netflix. maybe impressive there, of that one was list partners publisher

they're business, out role As ad-tech you playing their And see potentially that? you that your of out? see their the do how stack in ads future do how building two, and one,

Chris Vanderhook

Great. for Thanks Drew. that,

hasn't a list very think so other in was and pick been we on certainly as of there, partners to scale customers we're up. a I scaled is being U.S., it's point. in the we'll Netflix, they a markets, and demand consumer buy get yet, to this think big on the think more our for of on We them, we'll have U.S., remain Magnite base, that, the It side, access and So we don't one but at so going from announced operate there area that. in

Operator

question Jason from comes next Your Kreyer Craig-Hallum. from

Jason Kreyer

in the few AI the for the solutions had or autonomous market You've a quarters.

curious, jump you proof these for in? more waiting before from Anybody any or to Just solutions points advertisers? hesitant pushback get adopt maybe they

Chris Vanderhook

get, I always got factor always Yes, number on get to thing and trust need show number look is a the you to with upfront. one there's think right one customer we we to that focus that we clients, to the the value thing

So they'll significant instantly marketers opt these adoption into in XX%. X.X. features about XX% the rate that that's come see and products and will off the over version savings, XX% in, and a just like to savings. we're Bid X.X, was coming of around up they Optimizer, get why about saw X.X and increase X.X was Hence, Version in you seeing

it, you out really value, those. customer then prove into and when they're trust So the opting they

So we before that's home area big we a just anything. of really release focus and that hammer try

Tim Vanderhook

of say customer to no, Yes, they sure and it's just want just make terms in pushback, accurate. would I

Data, numbers Chat they're is probably to higher converting and correct out. sure taking Bid at SQL that into and it someone's query there's the of database, that So the Optimizer the areas SQL is looking make proves are and getting with which accurate. to language concern there spoken

a at microscope. call bigger certainly pushback, So say but it I looked under wouldn't it's I'd

Chris Vanderhook

to their efforts. assistants machine really to elevate too, are say, trying the can And these with we their the to [ performance. give we're would And trying I -- -- on the human an to supercharge it's insight. really products, traders these A insight, elevate you're them that really really helping platform, that human as these see ] drives strategic it but a are all

as really roll with that So out we we well see new customers products. playing

Jason Kreyer

are follow-up. advertisers One what hear for. to helpful That's looking

that how the that the your Maybe point these looking Viant? them biggest large You role you the conversations will you're opportunity that -- with evolve from are what forward? marketers participants. increase for industry are does to the hearing going having alternatives Or does marketers, made that for how in

Tim Vanderhook

there's looking too a they're talked help advertising. for? before, they automate choices We've are for in many this many looking lot so that They're simply what programmatic but tools of What Yes. about times doing. just

across employee, you're add? on revenue replicate What similarly. pretty they're per looking like our the a just So you else to contribution own seeing ex-TAC productivity those or would results

Chris Vanderhook

advertising say which clients. into one cost immediately would savings, better business and for I translates is the performance

that they I able been especially that hard. as formats demand, premium are do possible. good want that, at as drum that hammering creating we've think efficiently to new be you're to pretty know if buying ad Marketers

So everything we're doing into Bid doing things the fees, not not Access are from alternative an this, those marketers just are really to where might that's some forcing hey, products need up racking Optimizer, us we seeing, Direct that competitors build.

of midmarket. because I service successful around they that we within moving them, the model really to the we're the even other focusing on say like a larger we and a like of I And great need that support, option the they there. would though just lot on they And think clients, one is our platform. we're up know be market the midmarket,

helps. good them So to being really partner a

Operator

comes from Laura next question Your Needham. Martin at

Laura Martin

over looking one players advertisers for because we're That me. is, legacy shift alternatives you're largest more implies in Google Trade someone I Viant why? the seeing you're chooses increasingly your Trade first So moving where sentence In my a are where doing and industry. market clients cases to including share are Desk, than to Google. Desk the understand second says, why

Chris Vanderhook

Well, I wouldn't say it's...

Tim Vanderhook

a Probably single not reason.

Chris Vanderhook

the size I'll biggest about marketers not that something. one our They're midmarket I a the the market. again, walled gardens -- well. They as all put for good would focus. talk there in scale fits players whitespace would looking other there's in want really in just I area say It's It's the Yes. for us. only world.

and the Our clients advertising are extremely needs perform. data-driven, to

the build we that products efficiency. them So I helps drive really think

need And that's all performance. In big and breathe for And win for the this day. I every area live campaign So that why boils them. a you think why that's down alternative. we to keep that and a you end, clients

Tim Vanderhook

that media our I pipeline that. software think buy versus to be have holistically. I in today. a works there of the the productivity of It's and products alternative DSPs different to to that that differences. show Household I as versus identifier ID new using software, position other we've add market got the scale home, And starting driving we're the that to But out point we're just a we can continues expand leadership all think an That would

Laura Martin

follow-up then connected is on question And my television.

you're the CTV XX% you that seeing of So in your think on I'm revenue quarter? the whether if interested pressure that's CPMs. if growth things you And downward one are, drove

Tim Vanderhook

call, terms I on didn't look the of numbers in to noticeable nothing prior downward CPMs. but at the pressure exact

premium the owners get CTV think premium CPMs. I

If looking you're might ones CPM there. open was X. between or there, pressure exchange But prices those different other there some there X already be at

I factor of would wouldn't pretty have consistent. I say So our been growth. And say both a

Chris Vanderhook

will on just I look some I though, there if pressure market, at possibly upfront guys. No, was the some think, the say, you of premium

think -- Netflix been is think come their on I recently it's that reported CPMs. I down they've

that. market, happens by a client into DSP, of at that buys. from the their upfront there, a the rates But of moves premium channels some in spot least upfront seen that guys, plan time set lot in may those their think haven't of our nonetheless, because I really software, possibly. the for FAST are the much we of the out be But already

Operator

Maria from comes question next Your Canaccord. at Ripps

Maria Ripps

down can those XP cookies? seen pipeline maybe changes customers? any pipeline announcement? moving Google's since you have Google conversations of in to And some prospective you acquire clients expecting sales further who to of deleting the First, had you with you Are had sales have still anticipation your been may the talk about that

Tim Vanderhook

the mindset Google it robust was No, of for already time leading looking do was Whether is now do that not everyone they the start was to it. the pipeline or into it, believed to pretty alternatives. going

are And think transacting in. I cookie-based it's DSPs. hard of It's XX% media know that's final where that I But a will see because current is less in disruption or to players pipeline built spend big the those when how of cookie cookies. think in into see non-cookie hard from happen, or I on stool is and leg the lot in that opportunity directly us our kick cookie-based the of IDs. is does alternative shifts what there. So do you'll budget certainly to

Chris Vanderhook

link, other understand that, search certainly They're audio the assign a in prepared where They the a just is, systems. we And television spot. to away a to understand I the had point a starting about on billboard. don't because may They talked are of from have that. measurement too, to that. streaming starting I cookie-based is remarks thing had have we to And see of think and credit a all have may clicked somebody shown may oh, marketers them shift is, ad. I out, the

around are see still is still XX% if since have if it's and stream, cookies. actually -- The every look believe they we bid or continues that a fact an a to think it's, back quarter. decrease. Google's or a all that decrease to going opt-in cookies agency I to one opt-out day, the marketer, move on not at were less, it today announcement, with recent to of And had going conversation So with we they in into where announcement, the cookies, just you Google's I continue end or user

the place. looking are ad to based that -- on to certainly demand measuring buy they're versus whatever looking start at, in marketers to that credit last first was was a shown I So to the already want giving probably person going what's creating advertising

Maria Ripps

audio then from QX, streaming we and benefit maybe about embedded potential advertising, both growing guide how exposure the is that think your any your to thoughts increasing? QX now political in for especially should And

Chris Vanderhook

about I'll in in okay it talk political let Larry we advertising. do guide, but the

there. I in think, to remain going the there. have years we it's mid-single we we some good ago, X and were digits, products think the In last think I

our a there. We upside big in projected numbers haven't really

Tim Vanderhook

Yes.

a hardest the think in for in driving of of other advertising who controllers lack us I political dollars is the those parts one of some are, growth. just like amongst of awareness areas

of I don't cycle. politics, change, if have we this trying within we're catch think it specifically But, that lack to awareness but Larry? know I a we'll

Lawrence Madden

X% half. in more presidential such midterms tend the typically coming spend X% the the in bit specific, of as to that little so to second is, half see do a second cycles of we and about cycles, obviously to most whatever Yes, be

there our in guide. we'll some So more haven't political QX than more will in that we Obviously, be that QX. do assumed

what by might growing, So we're I usual. through But as it in not so assuming a have but assuming that or look X%, QX it's we we're taking We're business keeping move money, cycle. we're it X% obviously as better sense this like. at that more popped

Operator

next comes from question Your Matt Condon JMP. with

Matthew Condon

rooms integrated XQ. Data I in Data Chat Google how rooms the clean Platform. launching I just you Platform you the about then adoption greater quarter. clean also with there the the wanted Data And Viant you're just to data with the ask and Can data P&L? talk see Cloud's BigQuery Viant one on guys in or that impacts

Tim Vanderhook

Yes, cookie replacing process room definitely. matching called syncs. Clean a is effectively

historically industry And process just of types is And clean tables. for room us, matching an through the very is our identical of And concept so, this with to doing identifiers focus interoperable but a sync the process, cookie way became there. it's interoperability. different similar

Cloud data. So GBQ The it. with AWS that Snowflake. it We're make we did data so anyone, advertiser click, platform whole with to their on Google single first-party any goal and integrated Platform do and in announcement source, drive that that the to you've company, supply any interoperable connectivity our with or a were here noticed can platforms working those that has is access easily, any data

does the of what terms In to financials mean the of it business.

revenue, seen to from providing we've revenue, contribution under I our think the ex-TAC. measurement measurement is us included advertisers. Platform measurement Viant it a And of basically ticked lot up comes has these and Data better which

has an adoption. time contribution its with it at increase it you -- over So financial ex-TAC expanding profile, if look our will

Chris Vanderhook

quick, to speeds that these interoperability, thing to able use want all just to it think be going you're is platforms, adoption. of up back advertising. And we customer first-party real integrated the do when other in The main the clients data with their

So moving then data when it that house for use our able any being their and you're approach it for companies DSP data to just seamless the of makes CRM largest first-party their into already of clients, measurement. integrated a with targeting and

Matthew Condon

to Larry, here. of follow-up. just maybe then driving a good you've done profitability job And

Should you're as additional and or force different areas? are any Just as sales any we not investments guidance see giving key we the in anything but engineering XXXX, as think far here investment in formal about XXXX, XXXX? what understood,

Lawrence Madden

product invest see investment AI. 'XX. you'll digits, going we've for growth to will to be overhead we're growth and going our with year. what will trends be than in to -- our 'XX, in would around similar slower around this think I is growth CxT. Clearly, make terms in engineering certainly low-double primarily doing not we all been The and the innovation But expect I of of consistent low-teens and sales, around investments

Operator

Next Chris Kuntarich. question comes from

Christopher Kuntarich

Direct then, thinking to maybe that Is in you your Maybe double-click Access program hear for think inning how a balancing the you expense first how within inventory it quality in asked. be about partners, one curious what on Direct to as it was on to growth Larry, ramping right here still growth versus low-teens Access. about about be continuing to the just the to of question it. And the think grow relates just I'd 'XX? and and you're expense

Chris Vanderhook

spend the think Well, represents I had the question. said first I part through Chris, running Access. are in? it of Direct of, we take What Yes. we over thanks I'll half CTV is think that. for inning

or the the or interesting was They're marketers buying about addressability if inning helping This So save fourth paying just first drives marketers. where like getting matching of fees. say, what's They're really for on I is first the baseball addressability I data they're to social. fourth our growth. But integration, data matches on it, walled the direct know a source. the in or used next don't subscriber in was or part to however, Household not professional inning, gardens would their the that here And doing ID. playing program, around there. phase same direct That they're middlemen. from the really they're from integrating, guess, we're is somewhere I great fifth the this the

the However, advertising on It's they're incredible most an execution. world's premium content.

don't platform. it. that there, but going for to drive we charge through There's So there, CTV half our that It's a I CTV not think offerings similar on us. the next, it's just the continue our to for I trying going be great the spending of sell differentiator think although out to in is We're side. spending

So you there, you that. getting it. love I'm I'm CPMs, not charging Clients for right and lower

company. I for to think more going more the drive it's continue and CTV So spending to

Tim Vanderhook

there. one other thing And add to to differentiator that think in, I Viant that's a before just Larry out of kicks IDs versus alternative

doing user, know going that that Hulu We have they other in as a data logged addresses and might matches through, lot Tim these it of household. of get in that but well. email part that's logged value a into Disney be So may who's are

think to is to but Laura Tim So the or if that in able service, the aggressively household, identifiers buys properly the pretty advertising to attribute the user, where product logged and in we're fail I measure other response that.

providers companies Larry, So as want the there's add other lot join the and did quality content media other big program take that value question? ways of a the to both well. for you

Lawrence Madden

be will in it 'XX, low been for we've overhead all along. saying of terms In the is teens, which what

overhead low-single-digit You where QX be above overhead. will guide QX can percentages the in guide see we QX.

still all that low-teens. you're add and up, in You the

Operator

today's webinar. concludes That

may You now disconnect.

Tim Vanderhook

Thank you, everyone.

Viant Technology (DSP) 12 Aug 242024 Q2 Earnings call transcript