Viant Technology Inc.

Viant Technology Inc.

DSPยทNASDAQ

$12.10

-14%
TechnologySoftware - Application

Viant Technology Inc. operates as an advertising software company. It provides Adelphic, an enterprise software platform that enables marketers and their advertising agencies to plan, buy, and measure advertising across channels, including desktop, mobile, connected and linear TV, in-game, streaming audio, and digital billboards. The company also offers Holistic, an omnichannel demand side platform for marketers and their agencies to manage omnichannel campaigns and access metrics from each channel to inform decisions in other channels; Viant Household ID, a household profile, which provides household insights for optimized bid decisions and touchpoint collection across consumer pathways, as well as offers holistic targeting and measurement across channels; World Without Cookies software to manage reach and frequency at the household level; and Viant Identity Graph, which reduces or eliminates the need for cookies by enabling matching of people-based identifiers that anchor digital identifiers that allows marketers to reach targeted consumers in a privacy-conscious manner. In addition, it provides Data lake, a software and self-service enables customers with differentiated insights, including conversion lift, multi-touch attribution, foot-traffic data reports, digital-out-of-home lift, sales reporting, and ROAS analytics; onboarding data integrations provides marketers with high match rates to audience insights for segmentation, targeting, and measuring outcomes; and self-service interface that provides customers with transparency and control over their advertising campaigns and underlying data infrastructure. The company sells its platform through a direct sales team focused on business development in various markets. It serves purchasers of programmatic advertising inventory; and large, independent, and mid-market advertising agencies. The company was founded in 1999 and is headquartered in Irvine, California.

At a Glance

Live Snapshot
Market Cap$793.99M
EPS0.1300
P/E Ratio93.08
Earnings Date08/10/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is elevated (P/E 93.1).

Valuation inputs: P/E 93.1, earnings yield +1.1%, momentum -13.6%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is strong (ROE +29.3%, ROIC +46.1%).

Profitability stack: net margin +7.0%, ROE +29.3%, ROIC +46.1%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Downside profile is elevated and scenario stress-testing is essential.

Risk factors: liabilities/assets +39.2%, momentum -13.6%, net margin +7.0%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

dsp

Viant Technology Inc. Market vs Earnings Trajectory

DSP ยท NASDAQ

Loading price and EPS data...

Viant Technology Inc.

Viant Technology Inc. Fair Value Envelope

DSP ยท NASDAQ

Our analysis suggests that DSP has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $12.1, this represents a potential HIDDEN relative to our calculated worth for Viant Technology Inc..

Intrinsic Value
Current Price: $12.1
3Y-168.0%
5Y+18.0%
10Y-130.0%
3Y+75.0%
5Y+108.0%
10Y+218.0%
3Y-302.0%
5Y+114.0%
10Y-194.0%
3Y-1590.0%
5Y+179.0%
10Y+1419.0%
3Y-1305.0%
5Y+180.0%
10Y-1073.0%
3Y+26.0%
5Y+255.0%
10Y+448.0%
Viant Technology Inc.

Viant Technology Inc. Profit Bridge

DSP ยท NASDAQ
Revenue344.20M
Cost of Goods Sold (54.92M)
Gross Profit289.28M
Operating Expenses (140.41M)
Operating Income148.87M
Interest Expense (0.00)
Other Income/Expense-138.74M
Pretax Income10.13M
Income Tax (-13.96M)
Net Income24.10M
Net Income
24.10M

Profitability Analysis

Gross Margin

84.0%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

43.3%

Outstanding operational efficiency. The company generates substantial profit from core operations.

Net Profit Margin

7.0%

Moderate profitability with room for improvement. Monitor interest expenses and tax efficiency.

Effective Tax Rate

-137.8%

Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.

Profitability Insight

High margin compression: Large gap between gross and net margins suggests operational inefficiencies or heavy debt burden. Focus on expense management and deleveraging.

84.04%
Gross Profit Margin
84%
3Y+106.0%
5Y+87.0%
10Y+168.0%
43.25%
Operating Profit Margin
3497%
3Y-273.0%
5Y+228.0%
10Y-327.0%
7.00%
Net Profit Margin
757%
3Y-216.0%
5Y+3.0%
10Y-130.0%
29.34%
Return on Equity
569%
3Y-246.0%
5Y-28.0%
10Y-4.0%
5.08%
Return on Assets
847%
3Y-261.0%
5Y-40.0%
10Y-117.0%
46.13%
Return on Invested Capital
3960%
3Y-376.0%
5Y+21.0%
10Y-191.0%
DSP

Viant Technology Inc. Cash Conversion Engine

DSP ยท NASDAQ
Net Income24.10M
Depreciation & Amortization18.70M
Stock-Based Compensation24.84M
Change in Working Capital-16.16M
Others15.81M
Capital Expenditures-926.00K
Free Cash Flow51.68M

Cash Flow Quality Analysis

FCF Conversion Rate

214.5%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

1.8%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+4.9%

Flat FCF growth. Stable but not expandingโ€”monitor for signs of business maturity or temporary headwinds.

Working Capital Impact

-$16.16M

Moderate working capital outflow. Typical for growing businesses, but ensure it's supporting revenue growth, not inefficiency.

Cash Flow Quality Insight

Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.

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Viant Technology Inc. Funding & Solvency Profile

DSP ยท NASDAQ
Cash & Cash Equivalents185.69M
Net Receivables146.23M
Inventory0.00
Other Current Assets6.00M
Total Current Assets338 M
Property, Plant & Equipment56.60M
Goodwill & Intangible Assets21.92M
Long-Term Investments0.00
Other Non-Current Assets4.03M
Total Non-Current Assets61 M
Total Assets
439.00M

Financial Health Analysis

Current Ratio

2.87x

Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.

Debt-to-Equity Ratio

0.51x

Balanced capital structure with moderate leverage. Equity exceeds debt, suggesting healthy financial stability.

Working Capital

220 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

77% Current

Asset-light business model with high liquidity. Majority of assets are easily convertible to cash.

Financial Health Insight

Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.

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Viant Technology Inc. Street Expectations Map

DSP ยท NASDAQ

Wall Street analysts project that DSP stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 15.50, with estimates ranging from a low of 14.50 to a high of 16.50.

Lowest Target
14.50
19.83%
Consensus Target
15.50
28.10%
Highest Target
16.50
36.36%

The consensus 1-year price target stands at 15.50, with estimates ranging from a low of 14.50 to a high of 16.50.

Analyst Consensus Analysis

Upside Potential

+28.1%

Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.

Analyst Agreement

12.9% spread

High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.

Analyst Conviction

Very High

Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.

Market Sentiment Insight

Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.

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Viant Technology Inc. Insider Positioning

DSP ยท NASDAQ

During the last 12 months, insiders have sold $20.69M worth of DSP shares, with no buying activity reported.

3 Months

Bought

0

0.00

Sold

287.8K

3.21M

Net Activity

-3.2M

-$3.21M

3-6 Months

Bought

0

0.00

Sold

148.7K

1.63M

Net Activity

-1.6M

-$1.63M

6-9 Months

Bought

0

0.00

Sold

1.6M

15.30M

Net Activity

-15.3M

-$15.30M

9-12 Months

Bought

0

0.00

Sold

41.1K

547.13K

Net Activity

-547K

-$547K

Top Buyers

No buying activity

Top Sellers

1
CVL

Capital V Llc

10 Percent Owner

1.1M sharesโ€ข17 transactions

$11.15M

2
VT

Vanderhook Timothy

Director, 10 Percent Owner, Officer: Ceo And Chairman

405.8K sharesโ€ข20 transactions

$4.03M

3
VC

Vanderhook Christopher

Director, 10 Percent Owner, Officer: Chief Operating Officer

396.7K sharesโ€ข19 transactions

$3.92M

4
ML

Madden Larry

Officer: Chief Financial Officer

128.7K sharesโ€ข12 transactions

$1.45M

5
VMO

Valdes Max O

Director

9.9K sharesโ€ข2 transactions

$139K

Insider Activity Analysis

Net Insider Sentiment

Bearish

Strong bearish signal with $20.69M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.

Buy/Sell Ratio

0.00:1

Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.

Recent Trend (3 Months)

$3.21M

Heavy recent selling activity. Recent insider sales notably exceed purchasesโ€”may warrant investigation into company developments.

Insider Participation

High Selling

5 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.

Insider Activity Insight

Multiple red flags: Heavy selling, numerous sellers, and continued recent selling create a concerning pattern. Investigate fundamental drivers and consider whether company guidance or industry conditions have deteriorated.

0.00%
Dividend Yield
3Y-
5Y-
10Y-
ย 

dsp Dividend History

DSP
10Y CAGR +0%
Latest $0
Annual $0
Stable dividend payments
Last Period: +0%