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Viant Technology (DSP) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · Viant Technology (DSP) Q2 2026 earnings results →

Q2 2026 Revenue up 34% year over year to $104M · 2¢ of every $1 of revenue lost · operating margin -3.7%

Viant Technology made $104M in Q2 2026 (+34% Y/Y). Operating margin -3.7%, net loss $1.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.

Revenue$104M
Year over year+34%
Operating margin-3.7%
Net earnings−$1.8M
Operating cash flow$28.3M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $104.3M in Q2 2026, up 34% year over year and up 18% from the previous quarter.

Operating costs exceeded revenue by $3.9M, an operating margin of -3.7%. Total costs grew 39% against revenue growth of 34%. The fastest-growing cost line was General & admin (+42%). The quarter ended with a net loss of $1.8M, narrower than the previous quarter's $2.2M loss. Minority interests bore $1.7M of it: to shareholders the quarter was a loss of $111K. Non-operating items added $1.3M, -48% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $28.3M (up 35% year over year). Non-cash charges added back $5.6M of depreciation and amortization and $9.9M of share-based compensation. Working capital and other items added $14.7M. Capital expenditures of $716K left free cash flow of $27.6M.

Quarterly history

Viant Technology revenue by quarterViant Technology revenue by quarter$90.1MQ4 2024$70.6MQ1 2025$77.9MQ2 2025$85.6MQ3 2025$110MQ4 2025$88.5MQ1 2026$104MQ2 2026
Viant Technology net earnings by quarterViant Technology net earnings by quarter$1.7MQ4 2024−$3.3MQ1 2025$1.8MQ2 2025$996KQ3 2025$20.5MQ4 2025−$2.2MQ1 2026−$1.8MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 10, 2026$104M+34%-3.7%−$1.8M$28.3M
Q1 202610-QMay 11, 2026$88.5M+25%-4.5%−$2.2M$2.9M
Q4 202510-KMar 11, 2026$110M+22%11.5%$20.5M$33.1M
Q3 202510-QNov 10, 2025$85.6M+7%4.9%$996K$3.0M
Q2 202510-QAug 11, 2025$77.9M+18%0.0%$1.8M$20.9M
Q1 202510-QMay 6, 2025$70.6M+32%-6.9%−$3.3M−$4.5M
Q4 202410-KMar 3, 2025$90.1M+40%6.6%$1.7M$16.5M

Charts

Viant Technology: revenue growth, year over year and quarter over quarterViant Technology: revenue growth, year over year and quarter over quarterY/YQ/Q+40%Q4 2024+32%-22%Q1 2025+18%+10%Q2 2025+7%+10%Q3 2025+22%+29%Q4 2025+25%-20%Q1 2026+34%+18%Q2 2026
Latest (Q2 2026): Y/Y +34%, Q/Q +18%.
Viant Technology: where the cash came from (+) and went (−), TTM to Q2 2026Viant Technology: where the cash came from (+) and went (−), TTM to Q2 2026Operating cash flow$67.4MCash drawn (+) / kept (−)−$20.2MOther investing−$18.3MAcquisitions−$15.4MOther financing−$11.9MTaxes on employees’ shares−$3.1MShares issued$2.9MCapital spending−$1.4M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Viant Technology: profit against cash, quarter by quarterViant Technology: profit against cash, quarter by quarterNet incomeOperating cash flow$6.5M$17.1MQ3 2024$7.7M$16.5MQ4 2024−$3.3M−$4.5MQ1 2025$1.8M$20.9MQ2 2025$5.2M$3.0MQ3 2025$20.5M$33.1MQ4 2025−$2.2M$2.9MQ1 2026−$1.8M$28.3MQ2 2026
Latest (Q2 2026): Net income −$1.8M, Operating cash flow $28.3M.
Viant Technology: diluted shares by fiscal year (split-adjusted)Viant Technology: diluted shares by fiscal year (split-adjusted)3MFY202037MFY202143MFY202246MFY202361MFY202467MFY2025
+2132.5% since FY2020: more shares outstanding (issuance, stock pay); earlier years scaled for the 3-for-1 split before FY2025.
Viant Technology in its industry: growth against margin (51 companies, SIC 7370)Viant Technology in its industry: growth against margin (51 companies, SIC 7370)revenue growth, year over year →↑ operating marginmedian +9%median -1%GOOGLMETASPCXFLUTAPPSNAPZMPINSNIQMTCHSABRTTDRXTFDSTBLATRIPPPLITEMDOCNCSQRTEADEVERBMBLDVMGNIGRNDZIPHSTMNXDRPUBMHCATRUMBLNDCDLXSSTCEVAYYAIPODCIPMGOAIDJTCSAIIPDNCNETTWAVTRSOMITIRMXIGITSBBLRDSP (+34%, -4%)
Services-Computer Programming, Data Processing, Etc.; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Viant Technology

We are an advertising technology company. Our cloud-based demand side platform ("DSP") enables the programmatic purchase of advertising, which is the electronification of the digital advertising buying process. Programmatic advertising is rapidly taking market share from traditional ad sales channels, which require more staffing, offer less transparency, and involve higher costs to buyers. Our DSP is used by marketers and their advertising agencies to centralize the planning, buying and measurement of their digital advertising across most channels. Through our omnichannel platform, a marketer can easily buy ads on connected TV ("CTV"), streaming audio, digital out-of-home, mobile and desktop.

In its own words, from its 10-K, filed Mar 11, 2026.

Viant Technology against its Services-Computer Programming, Data Processing, Etc. peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +34% against the peers' median +25%. Operating margin: -3.7% against the peers' median 19.1%.

CompanyQuarterRevenueY/YOp. margin
DSP Viant TechnologyQ2 2026$104M+34%-3.7%
GOOGL AlphabetQ3 2026$127.6B+25%31.8%
META Meta PlatformsQ3 2026$64.6B+26%20.1%
SPCX Space Exploration TechnologiesQ3 2026$14.6B+161%19.1%
FLUT Flutter EntertainmentQ3 2026$3.9B+2%-30.7%
APP AppLovinQ3 2026$2.2B+56%78.2%
SNAP SnapQ3 2026$1.7B+14%4.5%
ZM Zoom CommunicationsQ2 FY27$1.3B+5%24.6%
PINS PinterestQ3 2026$1.2B+12%2.6%

Source: Viant Technology 10-Q on SEC EDGAR · CIK 1828791 · Services-Computer Programming, Data Processing, Etc.

13F: who owns DSP and who is buying

Largest holders of DSP (13F)Largest holders of DSP (13F)Punch & Associates Investment Man…$19.0MBlackRock$16.1MRoyce & Associates LP$13.6MVanguard Group$11.8MVanguard Capital Management LLC$10.7MPotomac Capital Management$6.8MGeode Capital Management, LLC$6.1MRenaissance Technologies LLC$5.4MState Street$4.3MNorwood Investment Partners, LP$4.2M
Funds' net buying of DSP by quarter (13F)Funds' net buying of DSP by quarter (13F)$2.6M2024-09−$1.9M2024-12$16.5M2025-03$4.0M2025-06−$4.6M2025-09$4.2M2025-12$1.1M2026-03$18.6M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on DSP

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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