Viant(DSP)2025-03-04 06:15Financial Data and Key Metrics Changes - In Q4 2024, revenue reached 54.4 million, up 28% year-over-year, also above guidance [64] - For the full year 2024, revenue totaled 44.4 million, up 53% year-over-year [60][62] Business Line Data and Key Metrics Changes - CTV ad spend increased over 40% in 2024, accounting for over 40% of total ad spend on the platform [14][68] - The number of customers generating significant levels of contribution ex-TAC increased by 42% year-over-year [65] - Direct access CTV ad spend increased nearly 70% in 2024, representing over 50% of total CTV ad spend on the platform [47] Market Data and Key Metrics Changes - CTV accounted for over 40% of ad spend on the platform, with a significant shift from linear TV to CTV expected [14][40] - The total addressable market for CTV is projected to grow from 90 billion as live sports transition to CTV [44] - The demand for addressability and measurable insights, especially in cookieless channels, is expected to continue growing [18] Company Strategy and Development Direction - The company is focused on enhancing its CTV targeting and measurement capabilities through acquisitions like Iris TV and Locker [52][79] - Viant AI is being rolled out in phases, with expectations to drive significant improvements in ad campaign planning and execution [26][33] - The strategy emphasizes addressing the needs of publishers and advertisers in the open Internet, particularly against the backdrop of competition from walled gardens [92] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth driven by CTV proliferation, leadership in addressability, and AI innovation [12][38] - The company anticipates that contribution ex-TAC will continue to outpace the broader US programmatic market, projected to grow approximately 13-14% [78] - Management highlighted the importance of strategic acquisitions in enhancing capabilities and driving long-term growth [79] Other Important Information - The company ended Q4 2024 with over 75 million undrawn credit facility [73][74] - The acquisition of Locker is expected to accelerate the adoption of household ID and Iris ID, enhancing addressability solutions [25][106] Q&A Session Summary Question: Can you explain the logic behind the Locker acquisition? - Management explained that Locker reduces friction in integrating first-party data for publishers, allowing them to unlock multiple alternative IDs with a single integration [87][92] Question: How much revenue did Iris contribute in Q4? - Management indicated that Iris contributed about 1% of total revenue in the quarter [100] Question: What is the strategic fit of the Locker acquisition? - Management stated that Locker is primarily aimed at accelerating the adoption of household ID and Iris ID while serving as a utility for the open Internet [105][106] Question: How has the market been performing post-election? - Management noted that while there are mixed results across the industry, they experienced strong performance and do not see significant weakness in their results [116] Question: What are the expectations for scaling Viant AI in 2025? - Management highlighted that Viant AI is expected to increase wallet share and attract new customers due to its efficiency in planning and executing ad campaigns [130]