Q2 2026 Viant Technology Inc Earnings Call Transcript
Key Points
- Record Q2 2026 results with revenue up 34% YoY and contribution ex-TAC up 24%, exceeding guidance.
- CTV spend surged nearly 50% YoY, with over 80% of CTV spend now transacted through Direct Access, driving 35% CPM reductions.
- Viant AI's Outcomes product gained rapid traction, accounting for 5% of total ad spend within six months of launch.
- TVision integration ahead of schedule, with 80% of pilot campaigns achieving higher conversion rates and an average 1.4x lift.
- Strong balance sheet with $193.1 million in cash, zero debt, and accelerating free cash flow (up 169% YoY for H1 2026).
- TVision acquisition created a 150-200 basis point drag on adjusted EBITDA margins in Q2 and Q3 2026.
- Non-GAAP operating expenses increased 24% YoY, partly due to TVision, impacting near-term profitability.
- Political ad spend contribution is expected to be minimal (only ~200 basis points), limiting a potential revenue boost.
- The company faces intense competition from walled gardens like Google and Amazon, which have conflicting incentives and self-attribution advantages.
- Guidance for Q3 2026 implies a deceleration in revenue growth (27% YoY) compared to Q2's 34%, suggesting potential headwinds.
Hello, everyone, and welcome to Viant Technologies' second quarter 2026 earnings conference call. My name is David, and I will be your operator today. Before I hand the call over to the Viant leadership team, I'd like to go over a few housekeeping notes for the program. As a reminder, this call is being recorded. (Operator Instructions) Thank you for your attendance today.
I would now like to turn the call over to Nick Zangler, SVP of Investor Relations for Viant.
Thank you. Good afternoon, and welcome to Viant Technologies' second quarter 2026 earnings conference call. On the call today are Tim Vanderhook, Co-Founder and Chief Executive Officer; Chris Vanderhook, Co-Founder and Chief Operating Officer; and Larry Madden, Chief Financial Officer.
I'd like to remind you that we will make forward-looking statements on our call today, including, but not limited to, statements regarding our guidance for Q3 2026 and other future financial results, our strategy, our
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