Viant Technology Inc.

Technology
Computer Software: Programming, Data Processing
www.viantinc.com

Moat Score
Safety Score

Market Cap $336.49M
PE 86
Debt $0.00
Cash $214.63M
EV $121.86M
FCF $55.77M

Earnings

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Sales & Net Margins

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Earnings	$3.92M
EBIT	-$1.54M
ROE	1%
ROA	-0%
FCF	$55.77M
Equity	$277.22M
Growth Stability	1
PE	85.77
PB	1.21
P/FCF	6.03
P/S	1.28
Price/Cash	0.64
Debt/Equity	0
Debt/FCF	0
Net Margins	0%
Gross Margins	46%
Op. Margins	-1%
Sales Growth YoY	34%
Sales Growth QoQ	21%
Sales CAGR	8%
FCF CAGR	6%
Equity CAGR	88%
Earnings Growth YoY	-448%
Earnings Growth QoQ	57%

Sales CAGR 5Y	8%
FCF CAGR 5Y	6%
Equity CAGR 5Y	88%
Earnings CAGR 3Y	4%
Sales CAGR 3Y	4%
FCF CAGR 3Y	21%
Equity CAGR 3Y	-0%
Market Cap	$336.49M
Revenue	$263.59M
Assets	$429.74M
Total Debt	$0.00
Cash	$214.63M
Shares Outstanding	16.24M
EV	121.86M
Moat Score	24%
Safety Score	98%
Working Capital	230.21M
Current Ratio	2.77
Gross Profit	$121.33M
Shares Growth 3y	9%
Equity Growth QoQ	2%
Equity Growth YoY	3%

Assets & ROA

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Stockholders Equity & ROE

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Viant Technology Inc is an advertising software company. The software enables the programmatic purchase of advertising, which is the electronification of the advertising buying process. Through the technology, a marketer can easily buy ads on desktop, mobile, connected TV, linear TV, streaming audio and digital billboards.

SEC Filings

Direct access to Viant Technology Inc. (DSP) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Viant Technology Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Viant Technology Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Viant Technology Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Viant Technology Inc..

Years

Calculation mode

= $853M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$56M	$59M	$63M	$67M	$71M	$75M	$80M	$85M	$90M	$96M	$102M	$1B
DCF		$54M	$52M	$50M	$48M	$47M	$45M	$44M	$42M	$41M	$39M	$392M
Value	$853M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	5%	4%	-17%	-24%	-4%	0%
ROA	-	16%	-11%	-13%	-5%	-0%
ROE	-	31%	-13%	-18%	-4%	1%

Bad Net Margins (0.31%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	1.46	0.62	-0	0	0
Debt over Equity	-	1.34	0.06	0	0	0
Growth Stability	-	-	-	-	-	1

Good Debt/FCF ratio (0)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	0%	36%	-12%	13%	8%
Earnings YoY growth	-	-27%	-701%	28%	-79%	-
Equity YoY growth	-	32%	1K%	-6%	3%	88%
FCF YoY growth	-	46%	53%	-115%	-953%	6%