Viant Technology (DSP) Stock Forecast & Price Target

Viant Technology Inc. reported a significant year-over-year increase in EBITDA of $74.5 million, reflecting a 34% growth and a notable 220 basis points rise in margin to 29.1%. Adjusted revenue metrics suggest that ex-TAC revenue grew approximately 22% year-over-year in 3Q25, bolstered by a strong performance in contribution ex-TAC (CXT), which rose 12% year-over-year to $53 million, at the high end of guidance. The company’s increasing sales from connected TV, audio, and digital out-of-home, which accounted for 56% of total sales, alongside a positive outlook driven by new customer wins and strong demand trends, underpins a robust financial forecast for FY26 and FY27 with anticipated revenue growth and adjusted EBITDA margin expansion.

Viant Technology Inc. has reported a decline in EBITDA margins, falling 80 basis points year-over-year to 30.2%, which reflects deteriorating profitability. The company's mid-market focus presents a risk of significant revenue volatility, especially if it loses major clients in high spending categories during peak advertising periods. Additionally, dependence on advertising agencies for client acquisition exposes Viant to concentration risks, and competitive pressures necessitate continuous technology advancements, with delays potentially jeopardizing its market positioning amid an environment of reduced digital ad spending and client disruptions.