0001828791-24-000011 | 10-K | XBRL Viewer

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Revenue - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Expected Duration of Greater Than One Year
Disaggregation Of Revenue [Line Items]
Revenue, remaining performance obligation amount	$ 0.2	$ 0.1

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Preferred stock, par value per share	$ 0.001
Preferred stock, shares authorized (shares)	10,000,000
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0
Treasury stock, shares	153,875	140,088
Class A Common Stock
Common stock, par value per share	$ 0.001
Common stock, shares authorized (shares)	450,000,000
Common stock, shares issued	15,937,816	14,783,886
Common stock, shares outstanding	15,783,941	14,643,798
Class B Common Stock
Common stock, par value per share	$ 0.001
Common stock, shares authorized (shares)	150,000,000
Common stock, shares issued	47,032,260	47,082,260
Common stock, shares outstanding	47,032,260	47,082,260

Accrued Liabilities

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Accrued Liabilities

The Company’s accrued liabilities consisted of the following:


	As of December 31,
	2023		2022
Accrued traffic acquisition costs	$	34,085	$	29,631
Other accrued liabilities	5,178		5,432
Total accrued liabilities	$	39,263	$	35,063

Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2023

Noncontrolling Interest [Abstract]

Summary Ownership of Viant Technology LLC

The following table summarizes the ownership of Viant Technology LLC:


	As of December 31, 2023			As of December 31, 2022
Owner	Units Owned	Ownership Percentage		Units Owned	Ownership Percentage
Viant Technology Inc.	15,783,941	25.1	%	14,643,798	23.7	%
Noncontrolling interests	47,032,260	74.9	%	47,082,260	76.3	%
Total	62,816,201	100.0	%	61,726,058	100.0	%

Summary of Effect of Changes in Ownership Interest in Viant Technology LLC on Equity

The following table presents the effect of changes in the Company’s ownership interest in Viant Technology LLC on the Company’s equity for the years indicated:


	Year Ended December 31,
	2023		2022		2021
Net loss attributable to Viant Technology Inc.	$	(3,443)	$	(11,913)	$	(7,742)
Transfers to noncontrolling interests:
Decrease in the additional-paid-in-capital of Viant Technology Inc. resulting from ownership changes in Viant Technology LLC	(6,112)		(20,284)		(44,361)
Change from net loss attributable to Viant Technology Inc. and transfers to noncontrolling interests	$	(9,555)	$	(32,197)	$	(52,103)

Income Taxes and Tax Receivable Agreement - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
U.S. statutory federal income tax rate	21.00%	21.00%	21.00%
Income passed through to noncontrolling interests	(13.70%)	(15.80%)	(16.70%)
State and local taxes, net of federal benefit	1.20%	0.80%	0.60%
Permanent items	(1.70%)	(0.30%)	0.70%
Stock-based compensation	(14.60%)	(2.90%)	(3.20%)
Credits	3.30%	0.80%	0.00%
Uncertain tax position	(1.40%)	0.00%	0.00%
Other, net	(2.20%)	0.90%	0.00%
Valuation allowance	6.60%	(4.50%)	(2.40%)
Total effective rate	(1.50%)	0.00%	0.00%

Goodwill and Intangible Assets, Net - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite Lived Intangible Assets [Line Items]
Goodwill impairment	$ 0	$ 0	$ 0
Impairment of intangible assets	0	0	0
Impairment of other long lived assets	0	0	$ 0
Adelphic
Finite Lived Intangible Assets [Line Items]
Goodwill	$ 12,400,000	$ 12,400,000

Stock-based Compensation - Summary of Stock/Unit-based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock/Unit-Based Compensation expense	$ 32,291	$ 28,901	$ 68,822
Platform operations
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock/Unit-Based Compensation expense	4,104	4,761	13,096
Sales and marketing
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock/Unit-Based Compensation expense	9,729	9,010	25,639
Technology and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock/Unit-Based Compensation expense	5,752	5,323	12,373
General and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock/Unit-Based Compensation expense	$ 12,706	$ 9,807	$ 17,714

Stock-based Compensation - Summary of Assumptions used in Black-Scholes Model to Determine Fair Value of Nonqualified Stock Options Granted (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Expected term (in years)			5 years 10 months 24 days
Expected dividend yield	0.00%	0.00%	0.00%
Minimum
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Expected term (in years)	6 years	5 years 10 months 24 days
Maximum
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Expected term (in years)	6 years 1 month 6 days	6 years
Nonqualified Stock Options
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Risk free interest rate, minimum	3.80%	1.40%
Risk free interest rate, maximum	4.30%	2.80%
Expected volatility, minimum	75.80%	61.50%
Expected volatility, maximum	81.50%	62.70%	61.10%
Risk free interest rate			1.20%

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Concentrations of Credit Risk (Details) - Advertising Agency Risk - Consolidated Revenue	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Customer One
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	14.10%
Advertising Agency A
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	10.00%	13.50%	14.20%
Advertising Agency B
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			15.50%

Income Taxes and Tax Receivable Agreement - Schedule of Unrecognized Tax Benefits Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance of unrecognized tax benefits	$ 0	$ 0
Gross increase based on tax positions related to current year	55	0
Gross increase based on tax positions related to prior years	103	0
Ending balance of unrecognized tax benefits	$ 158	$ 0

Income Taxes and Tax Receivable Agreement - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Line Items]
U.S. statutory federal income tax rate	21.00%	21.00%	21.00%
Effective tax rate	(1.50%)	0.00%	0.00%
Provision for income taxes	$ 151	$ 0	$ 0
Income tax expense	200
Deferred tax assets, valuation allowance	10,917	11,480	$ 9,338
Federal
Income Tax Disclosure [Line Items]
Operating loss carryforwards	6,100	10,400
Federal \| Research Tax Credit Carryforward
Income Tax Disclosure [Line Items]
Tax credits	400
State
Income Tax Disclosure [Line Items]
Operating loss carryforwards	3,800	$ 6,100
State \| Research Tax Credit Carryforward
Income Tax Disclosure [Line Items]
Tax credits	$ 500
Viant Technology LLC
Income Tax Disclosure [Line Items]
Percentage of economic interest held	25.10%

Stock-based Compensation - Summary of Valuation Assumptions used in Fair Value Calculation of Incentive Units (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Expected term (in years)			5 years 10 months 24 days
Expected dividend yield	0.00%	0.00%	0.00%

Revolving Credit Facility and PPP Loan	12 Months Ended
Revolving Credit Facility and PPP Loan	Dec. 31, 2023
Debt Disclosure [Abstract]
Revolving Credit Facility and PPP Loan	Revolving Credit Facility and PPP Loan On October 31, 2019, the Company entered into an asset-based revolving credit and security agreement (the "Loan Agreement") with PNC Bank, National Association ("PNC Bank") that originally provided a senior secured revolving credit facility with borrowing capacity of up to $40.0 million and a maturity date of October 31, 2024. On April 4, 2023, the Company entered into an amendment to the Loan Agreement (as so amended, the "Amended Loan Agreement") that increased the borrowing capacity under the revolving credit facility to $75.0 million, extended the maturity date to April 4, 2028, and changed the rates at which advances will bear interest. The Amended Loan Agreement is collateralized by security interests in substantially all of the Company's assets. Advances under the Amended Loan Agreement bear interest through maturity at a variable rate based upon the selection of either a Domestic Rate Loan or a Term SOFR Rate Loan (each, as defined in the Amended Loan Agreement). For Domestic Rate Loans, borrowings bear interest at the Alternate Base Rate plus an applicable margin. The Alternate Base Rate is defined as a fluctuating interest rate equal to the greater of (1) the base commercial lending rate of PNC Bank, (2) the overnight federal funds rate plus 0.50% and (3) the Daily Simple SOFR plus 1.00%. For Term SOFR Rate Loans, borrowings bear interest at the Term SOFR Rate (as defined in the Amended Loan Agreement) plus the SOFR Adjustment of 0.10% plus an applicable margin. The Company did not have an outstanding balance during the year ended December 31, 2023. The applicable margin is between 1.00% to 1.25% for Domestic Rate Loans and between 2.00% and 2.25% for Term SOFR Rate Loans based on the average undrawn availability under the revolving credit facility. The applicable margin as of December 31, 2023 was equal to 1.00% for Domestic Rate Loans and 2.00% for Term SOFR Rate Loans. The facility fee for undrawn amounts under the Amended Loan Agreement is 0.375% per annum; additionally, the Company pays customary letter of credit fees as applicable. The Amended Loan Agreement contains customary conditions to borrowings, events of default and covenants, including covenants that restrict the Company's ability to sell assets, make changes to the nature of the business, engage in mergers or acquisitions, incur, assume or permit to exist additional indebtedness and guarantees, create or permit to exist liens, pay dividends, issue equity instruments, make distributions or redeem or repurchase capital stock or make other investments, and engage in transactions with affiliates. The Amended Loan Agreement also requires that the Company maintain compliance with a minimum Fixed Charge Coverage Ratio (as defined in the Amended Loan Agreement) of 1.40 to 1.00 at any time undrawn availability under the Loan Agreement is less than 25%. As of December 31, 2023, the Company was in compliance with all applicable covenants under the Amended Loan Agreement. On May 6, 2022, the Company fully paid off the outstanding balance of advances under our revolving credit facility, and the carrying value as of December 31, 2023 was zero. PPP Loan On April 14, 2020, the Company received proceeds from the PPP Loan in the amount of approximately $6.0 million from PNC Bank, as lender, pursuant to the Paycheck Protection Program of the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). In June 2021, the Company received notice of forgiveness of the PPP Loan in whole, including all accrued unpaid interest and recorded the forgiveness of approximately $6.0 million of principal and $0.1 million of accrued interest in "Gain on extinguishment of debt" in the consolidated statements of operations for the year ended December 31, 2021.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Leases - Summary of Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022
Leases [Abstract]
2024	$ 4,636
2025	4,445
2026	4,353
2027	4,279
2028	3,211
Thereafter	7,800
Total undiscounted future lease payments	28,724
Less: Commitments for leases not yet commenced	(312)
Less: Imputed interest	(2,978)
Operating lease liabilities	25,434		$ 22,000
Less: Operating lease liabilities, current	(3,762)	$ (3,711)
Long-term portion of operating lease liabilities	$ 21,672	$ 24,998

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Basis Of Presentation And Summary Of Significant Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the operations of the Company, Viant Technology LLC and its wholly owned subsidiaries. Viant Technology LLC is considered a variable interest entity (“VIE”). The Company is the primary beneficiary and sole managing member of Viant Technology LLC and has decision making authority that significantly affects the economic performance of the entity. As a result, the Company consolidates Viant Technology LLC. All intercompany balances and transactions have been eliminated in consolidation.

Viant Technology LLC has been determined to be the predecessor for accounting purposes and, accordingly, the consolidated financial statements for periods prior to the IPO and the related Reorganization Transactions have been adjusted to combine the previously separate entities for presentation purposes. Amounts for the period prior to February 12, 2021 presented in the consolidated financial statements and notes to consolidated financial statements herein represent the historical operations of Viant Technology LLC. The amounts as of and for the years ended December 31, 2023, December 31, 2022, and December 31, 2021 and the operations since February 12, 2021 reflect the consolidated operations of the Company.

Management believes that the accompanying consolidated financial statements reflect the adjustments necessary for the fair statement of its consolidated balance sheets as of December 31, 2023 and 2022, statements of operations for the years ended December 31, 2023, 2022 and 2021, and cash flows for the years ended December 31, 2023, 2022 and 2021.

Use of Estimates

The preparation of our consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. On an ongoing basis, management evaluates its estimates, primarily those related to revenue recognition, stock-based compensation, income taxes, allowances for doubtful accounts, the useful lives of capitalized software development costs and other property, equipment and software and assumptions used in the impairment analyses of long-lived assets and goodwill. These estimates are based on historical data and experience, as well as various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amount of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

The impact of widespread macroeconomic and geopolitical uncertainties, including the impact of bank failures, rising interest rates, inflationary pressures, labor shortages, shortages of goods and services, supply chain constraints, pandemics, international conflicts and acts of terrorism on our business continues to evolve. Many of our estimates and assumptions consider these macroeconomic and geopolitical factors in the market, which require increased judgment and carry a higher degree of variability and volatility. As events continue to evolve and additional information becomes available on the potential impact on our business of global economic and business events, our estimates may change materially in future periods as a result.

Comprehensive Income (Loss)

Comprehensive Loss

For the periods presented, net loss is equal to comprehensive loss.

Segment Information

The Company has a single reportable operating segment which operates an enterprise technology platform that enables marketers and their advertising agencies to automate and centralize the planning, buying and measurement of their video, audio and display ads across all channels, including desktop, mobile, connected TV, linear TV, in-game, streaming audio and digital billboards in the United States. In reaching this conclusion, management considers the definition of the chief operating decision maker (“CODM”), how the business is defined by the CODM, the nature of the information provided to the CODM and how that information is used to make operating decisions, allocate resources and assess performance. The Company’s CODM is comprised of the chief executive officer and chief operating officer. The results of operations provided to and analyzed by the CODM are at the consolidated level and, accordingly, key resource decisions and assessment of performance are performed at the consolidated level. The Company assesses its determination of operating segments at least annually.

Revenue Recognition

The Company generates its revenue by providing marketers and advertising agencies with the ability to plan, buy and measure their digital advertising campaigns using its people-based DSP. Our platform enables marketers to reach their target audience across desktop, mobile, connected TV, linear TV, in-game, streaming audio and digital billboards.

The Company applies a five-step approach as defined in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (“ASC 606”), in determining the amount and timing of revenue to be recognized:

•Identification of a contract with a customer;

•Identification of the performance obligations in the contract;

•Determination of the transaction price;

•Allocation of the transaction price to the performance obligations in the contract; and

•Recognition of revenue when or as the performance obligations are satisfied.

We make our platform available through different pricing options to tailor to multiple customer types and customer needs. These options consist of a percentage of spend option and a fixed cost per mille (“CPM”) option. CPM refers to a payment option in which customers pay a price for every 1,000 impressions an ad receives. We generate revenue when our platform is used on a self-service basis by charging a platform fee that is a percentage of spend. We also offer our customers the ability to use our services to aid in data management, media execution and advanced reporting. When customers utilize these services, we generate revenue by charging (1) a separate service fee that represents a percentage of spend in addition to the platform fee; (2) a flat monthly fee; or (3) a fixed CPM.

We maintain agreements with our customers in the form of master service agreements (“MSA”) in connection with the percentage of spend pricing option, as well as instances where we charge our customers a flat monthly fee. We maintain insertion orders (“IO”) in connection with the fixed CPM pricing option, which set out the terms of the relationship and use of our platform. The nature of our performance obligations is to enable customers to plan, buy and measure advertising campaigns using our platform and provide campaign execution services as requested.

For the percentage of spend pricing option, we typically bill customers a platform fee, and in certain instances an additional service fee, which is based on a specified percentage of the customer’s purchases through the platform as well as fees for additional features such as data and advanced reporting, plus the cost of TAC, as defined below. We recognize revenue at the point in time when a purchase by the customer occurs through our platform.

The determination of whether revenue for the percentage of spend pricing option should be reported on a gross or net basis is based on an assessment of whether we are acting as the principal or an agent in the transaction. In determining whether we are acting as the principal or an agent, we follow the accounting guidance for principal-agent considerations. Making such determinations involves judgment and is based on an evaluation of the terms of each arrangement, none of which are considered presumptive or determinative.

In instances discussed above related to the percentage of spend pricing option, we typically act as an agent because we arrange for the transfer of such costs from the supplier to the customer through the use of our platform and do not control such features prior to transfer to the customer. We do not have primary responsibility for meeting customer specifications and do not have discretion in establishing the price of TAC related to this pricing option. As we act as the agent in these arrangements, we report revenue on a net basis. In certain percentage of spend arrangements, we act as a principal because we control the advertising inventory before it is transferred to the customer and we bear sole responsibility for fulfillment of the advertising promise and inventory risks. As we act as the principal in these arrangements, we report revenue and the related costs incurred on a gross basis.

For the fixed CPM pricing option, we typically bill customers a fixed CPM price based on advertising impressions delivered through the platform and recognize revenue at the point in time when the advertising impressions are delivered. In certain cases, we also provide third party data segments and measurement reporting, which are recognized at the point in time they are delivered to the customer. We have the primary responsibility for meeting customer specifications and have discretion in establishing the price of TAC related to this pricing option. As we act as the principal in these arrangements, we report revenue and the related costs incurred on a gross basis.

The Company invoices its customers on a monthly basis for all pricing options. Invoice payment terms, negotiated on a customer-by-customer basis, are typically 30 to 60 days. Advertising agency customers typically have sequential liability terms, which means payments are not due to the Company from its advertising agency customer until the advertising agency customer has received payment from its customer, the advertiser.

There are no contract assets recorded on the consolidated balance sheets because the Company’s right to any unbilled consideration for performance obligations satisfied is only conditional upon the passage of time. Contract liabilities, or deferred revenue, are recorded for amounts that are collected in advance of the satisfaction of performance obligations. These liabilities are classified as current if the respective performance obligations are anticipated to be satisfied during the succeeding 12-month period per the terms of the contract, and the remaining portion is recorded as non-current deferred revenue in the consolidated balance sheets.

ASC 606 provides various optional practical expedients. The Company elected the use of the practical expedient relating to the disclosure of remaining performance obligations within a contract and will not disclose remaining performance obligations for contracts with an original expected duration of one year or less.

Operating Expenses

We classify our operating expenses into the following four categories. Each expense category includes overhead such as rent and occupancy charges, which is allocated based on headcount.

Platform Operations. Platform operations expense represents our cost of revenues, which consists of TAC, hosting costs, personnel costs, depreciation of capitalized software development costs, customer support costs and allocated overhead. TAC recorded in platform operations consists of amounts incurred and payable to suppliers for costs associated with our fixed CPM pricing option and certain arrangements related to our percentage of spend pricing option. Personnel costs within platform operations include salaries, bonuses, stock-based compensation and employee benefit costs primarily attributable to personnel who directly support our platform.

Sales and Marketing. Sales and marketing expense consists primarily of personnel costs, including salaries, bonuses, stock-based compensation, employee benefit costs and commissions for our sales personnel. Sales and marketing expense also includes costs for market development programs, advertising, promotional and other marketing activities and allocated overhead. Commissions are expensed as incurred.

The Company incurred advertising costs of $3.4 million, $9.3 million, and $4.1 million for the years ended December 31, 2023, 2022 and 2021, respectively, related to the promotion of the Company, its brands, products and services to potential customers. Advertising costs are expensed as incurred and recorded in sales and marketing expense within the consolidated statements of operations.

Technology and Development. Technology and development expense consists primarily of personnel costs, including salaries, bonuses, stock-based compensation and employee benefit costs associated with the ongoing development and maintenance of our platform and allocated overhead. Technology and development costs are expensed as incurred, except to the extent that such costs are associated with software development that qualifies for capitalization, which are then recorded as capitalized software development costs included in "Property, equipment, and software, net", on the consolidated balance sheets. We record depreciation for capitalized software not related to our platform within technology and development expense.

General and Administrative. General and administrative expense consists primarily of personnel costs, including salaries, bonuses, stock-based compensation and employee benefit costs associated with our executive, accounting, finance, legal, human resources, and other administrative personnel. Additionally, this includes accounting, legal and other professional services fees, insurance expense, bad debt expense and allocated overhead.

Earnings (Loss) Per Share

Basic earnings (loss) per share is calculated by dividing the earnings (loss) attributable to Class A common stockholders by the number of weighted-average shares of Class A common stock outstanding. The Company’s RSUs, nonqualified stock options and

shares of Class B common stock do not share in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted earnings (loss) per share of RSUs, nonqualified stock options and Class B common stock under the two-class method has not been presented.

Diluted earnings (loss) per share adjusts the basic earnings (loss) per share calculation for the potential dilutive impact of common shares such as equity awards using the treasury-stock method. Diluted earnings per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. Shares of our Class B common stock, RSUs, and nonqualified stock options are considered potentially dilutive shares of Class A common stock; however, the shares have been excluded from the computation of diluted earnings per share of Class A common stock for the years ended December 31, 2023, 2022, and 2021 because the effect would have been anti-dilutive under the if-converted method and treasury-stock method.

Earnings (Loss) Per Unit

Cash and Cash Equivalents

For purposes of balance sheet presentation and reporting of cash flows, the Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents. Cash and cash equivalents are comprised of cash in bank accounts and money market funds for which the carrying value approximates fair value due to their short-term nature. Cash equivalents are valued based on Level 1 inputs which consist of quoted prices in active markets.

Accounts Receivable, Net of Allowances

Accounts receivable are recorded at the invoiced amount, net of an allowance for doubtful accounts, and are unsecured and do not bear interest. The Company performs credit evaluations of its customers and certain advertisers when the Company’s agreements with its customers contain sequential liability terms that provide that the customer payments are not due to the Company until the customer has received payment from its customers (advertisers). The allowance for doubtful accounts is based on the best estimate of the amount of expected credit losses in accounts receivable. The allowance for doubtful accounts is determined based on historical collection experience, our assessment of the financial condition of companies with which we do business, current macroeconomic conditions, and reasonable and supportable forecasts of future macroeconomic conditions, as well as the review in each period of the status of the then-outstanding accounts receivable. Account balances are charged off against the allowance when the Company believes it is probable the receivable will not be recovered. Recoveries of accounts receivable previously written off are recorded when received.

The following table presents changes in the allowance for doubtful accounts:


	Year Ended December 31,
	2023		2022
Beginning balance	$	1,015	$	54
Cumulative impact of accounting adoption	209		—
Provision for doubtful accounts	111		1,260
Write-offs, net of recoveries	(138)		(299)
Ending balance	$	1,197	$	1,015

Property, Equipment and Software, Net

Property, equipment and software are recorded at historical cost, less accumulated depreciation. Depreciation is computed using the straight-line method based upon the following estimated useful lives:


			Years
Computer equipment			3-5
Purchased software			3
Capitalized software development costs			3
Furniture, fixtures and office equipment			10
Leasehold improvements			*

*Leasehold improvements are depreciated on a straight-line basis over the term of the lease, or the useful life of the assets, whichever is shorter.

Repair and maintenance costs are charged to expense as incurred, while replacements and improvements are capitalized. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recorded in operating expenses within the consolidated statements of operations.

Capitalized Software Development Costs

The Company capitalizes certain costs associated with creating and enhancing internally developed software related to the Company’s technology infrastructure and such costs are recorded within property, equipment and software, net. These costs include personnel and related employee benefit expenses for employees who are directly associated with and who devote time to software development projects. Software development costs that do not qualify for capitalization are expensed as incurred and recorded in technology and development expense in the consolidated statements of operations.

Software development activities typically consist of three stages: (1) the planning stage; (2) the application and infrastructure development stage; and (3) the post-implementation stage. Costs incurred in the planning and post-implementation stages, including costs associated with training and repairs and maintenance of the developed technologies, are expensed as incurred. The Company capitalizes costs associated with software developed when the preliminary project stage is completed, management implicitly or explicitly authorizes and commits to funding the project and it is probable that the project will be completed and perform as intended. Costs incurred in the application and infrastructure development stages, including significant enhancements and upgrades, are capitalized. Capitalization ends once a project is substantially complete and the software is ready for its intended purpose. Software development costs are depreciated using a straight-line method over the estimated useful life, commencing when the software is ready for its intended use. The straight-line recognition method approximates the manner in which the expected benefit will be derived.

Capitalized Interest

The Company capitalizes interest on borrowings related to eligible capital expenditures including development costs related to internal use software which is recorded within property, equipment and software, net. Capitalized interest is added to the cost of the qualified assets and depreciated over the estimated useful lives of the assets.

Impairment of Long-Lived Assets

Long-lived assets consist of property, equipment and software and intangible assets with estimable useful lives subject to depreciation and amortization. The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of an asset or asset group to be held and used is measured by a comparison of the carrying amount of an asset or asset group to the estimated undiscounted future cash flows expected to be generated by the asset or asset group. If the carrying amount of the asset or asset group exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset or asset group exceeds the fair value of the asset or asset group.

Goodwill

Goodwill is tested at least annually for impairment as of the first day of the fourth fiscal quarter, or more frequently if indicators of impairment exist during the fiscal year. Events or circumstances which could trigger an impairment review include a significant adverse change in legal factors or in the business climate, loss of key customers, an adverse action or assessment by a regulator, unanticipated competition, a loss of key personnel, significant changes in the manner of the Company’s use of the acquired assets or the strategy for the Company’s overall business, significant negative industry or economic trends, or significant underperformance relative to expected historical or projected future results of operations. The Company assesses its conclusion regarding reporting units in conjunction with its annual goodwill impairment test and has determined that it has one reporting unit for the purposes of allocating and testing goodwill.

When testing goodwill for impairment, the Company first performs a qualitative assessment. If the Company determines it is more likely than not that a reporting unit’s fair value is less than its carrying amount, then a one-step impairment test is required. If the Company determines it is not more likely than not a reporting unit’s fair value is less than its carrying amount, then no further analysis is necessary. To identify whether a potential impairment exists, the Company compares the estimated fair value of the reporting unit with its carrying amount, including goodwill. If the estimated fair value of the reporting unit exceeds its carrying amount, goodwill is not considered to be impaired. If, however, the fair value of the reporting unit is less than its carrying amount, then such balance would be recorded as an impairment loss. Any impairment loss is limited to the carrying amount of goodwill within the entity.

Paycheck Protection Program Loan

On April 14, 2020, the Company received the proceeds from a loan in the amount of approximately $6.0 million (the “PPP Loan”) from PNC Bank, as lender, pursuant to the Paycheck Protection Program (“PPP”) of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The Company accounted for the PPP Loan as a financial liability in accordance with ASC

Topic 470, Debt. Accordingly, the PPP Loan was recognized within long-term debt and current portion of long-term debt in the Company’s consolidated balance sheet and the related accrued interest was included within accrued liabilities in the Company’s consolidated balance sheet as of December 31, 2020. In June 2021, the Company received a notice of forgiveness of the PPP Loan in whole, including all accrued unpaid interest. The forgiveness of the loan is recognized within "Gain on extinguishment of debt" on the consolidated statement of operations for the year ended December 31, 2021. Refer to Note 8—Revolving Credit Facility and PPP Loan for additional information.

Fair Value of Financial Instruments

The framework for measuring fair value and related disclosure requirements about fair value measurements are provided in ASC 820, Fair Value Measurement (“ASC 820”). This pronouncement defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy prescribed by ASC 820 contains three input levels as follows:

•Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

•Level 2: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

•Level 3: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.

The carrying amounts of the Company’s cash and cash equivalents, accounts receivable, accounts payable, accrued compensation and accrued liabilities approximate fair value due to the short-term nature of these instruments.

Financial Instruments Not Recorded at Fair Value on a Recurring Basis

Certain financial instruments, including debt, are not measured at fair value on a recurring basis in the consolidated balance sheets. The fair value of debt is estimated using primarily level 2 inputs including quoted market prices or discounted cash flow analyses, based on estimated incremental borrowing rates for similar types of borrowing arrangements. As of December 31, 2023, there was no outstanding balance under the Loan Agreement.

Assets and Liabilities Recorded at Fair Value on a Non-Recurring Basis

Certain assets and liabilities, including goodwill and intangible assets, are subject to measurement at fair value on a non-recurring basis if there are indicators of impairment or if they are deemed to be impaired as a result of an impairment review.

Leases

At the beginning of fiscal 2022, the Company adopted new lease accounting guidance issued by the FASB. The most significant change requires lessees to record the present value of operating lease payments as operating lease assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements.

We adopted the new guidance using the modified retrospective method at the beginning of fiscal 2022 by applying the package of practical expedients permitted under the transition guidance, which allowed the Company to carry forward its original assessment of whether:

•our existing arrangements are or contain leases;

•our existing arrangements are operating or finance leases; and

•to capitalize initial direct costs.

Upon adoption, the new guidance resulted in the recognition of operating lease assets of approximately $21.0 million and operating lease liabilities of approximately $22.0 million, which were measured by the present value of the remaining minimum lease payments. In accordance with the guidance, the Company elected the practical expedient to exclude leases with a term of less than one year from the measurement of operating lease assets and lease liabilities. The Company also elected the practical expedient that allows lessees the option to account for lease and non-lease components together as a single component for all real estate classes of underlying assets. At adoption, in the consolidated balance sheet, we also reclassified deferred rent of approximately $1.0 million for operating leases at the end of the fiscal year ended December 31, 2021 from other current liabilities (current portion) and other long-term liabilities (non-current portion) to current portion of operating lease liabilities and long-term portion of operating lease liabilities, respectively. The impact on the Company’s consolidated statements of operations and cash flows was not material.

The present value of the lease payments was calculated using the Company’s incremental borrowing rate applicable to the lease, which is determined by estimating what it would cost the Company to borrow a collateralized amount equal to the total lease payments over the lease term based on the contractual terms of the lease and the location of the leased asset.

We determine whether an arrangement is a lease at the contract inception date. Our leases may require us to make fixed rental payments or variable lease payments, which are based on a variety of factors including property values, tax and utility rates, property services fees, and other factors. Since these costs are variable in nature, they are excluded from the measurement of the reported operating lease assets and liabilities and are expensed as incurred. The Company records rent expense for operating leases, some of which have escalating rent payments, on a straight-line basis over the lease term.

Concentration of Risk

Financial instruments that potentially subject the Company to concentration of risk consist principally of cash and cash equivalents and accounts receivable. The Company maintains its cash with financial institutions and its cash levels exceed the Federal Deposit Insurance Corporation's federally insured limits. Market conditions can impact the viability of these institutions. In the event of failure of any of the financial institutions where we maintain our cash and cash equivalents, there can be no assurance that we will be able to access uninsured funds in a timely manner or at all. Accounts receivable include amounts due from customers with principal operations primarily in the United States.

As of December 31, 2023, one individual customer accounted for 17.9% of consolidated accounts receivable. As of December 31, 2022, no individual customers accounted for 10.0% or greater of consolidated accounts receivable.

As of December 31, 2023, three individual suppliers accounted for 16.1%, 14.4% and 11.6%, respectively, of consolidated accounts payable and accrued liabilities. As of December 31, 2022, one supplier accounted for 24.6% of consolidated accounts payable and accrued liabilities.

The following table provides the Company’s concentrations of credit risk with respect to advertising agency holding companies and individual customers as a percentage of the Company’s total revenues for the periods presented.


	Year Ended December 31,
	2023		2022		2021
Advertising Agency Holding Company
A	10.0	%	13.5	%	14.2	%
B	<10.0 %		<10.0 %		15.5	%
Individual Customer
C	14.1	%	<10.0 %		<10.0 %

Related Party Relationships

Capital V LLC (formerly Four Brothers 2 LLC), the holder of Class B common stock as of December 31, 2023, is controlled by the Company’s co-founders, Tim Vanderhook and Chris Vanderhook, and therefore is considered a related party. Refer to Note 14—Related Parties for additional information.

Income Taxes

The Company is the sole managing member of Viant Technology LLC and, as a result, consolidates the financial results of Viant Technology LLC in the consolidated financial statements. Viant Technology LLC is a pass-through entity for U.S. federal and most applicable state and local income tax purposes following a corporate reorganization effected in connection with our initial public offering. As an entity classified as a partnership for tax purposes, Viant Technology LLC generally is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by Viant Technology LLC is passed through to and included in the taxable income or loss of its members, including us. The Company is taxed as a corporation and pays corporate federal, state and local taxes with respect to income allocated from Viant Technology LLC, based on the Company's 25.1% interest in Viant Technology LLC.

The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities (“DTAs” and “DTLs”) for the expected future tax consequences of events that have been included in the financial statements. Under this method, we determine DTAs and DTLs on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on DTAs and DTLs is recognized in income in the period that includes the enactment date. We recognize DTAs to the extent that we believe that these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences,

projected future taxable income, tax-planning strategies, carryback potential if permitted under the tax law and results of recent operations. If we determine that we would be able to realize our DTAs in the future in excess of their net recorded amount, we would make an adjustment to the DTA valuation allowance, which would reduce the provision for income taxes.

The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.

Tax Receivable Agreement

The Company expects to obtain an increase in its share of tax basis in the net assets of Viant Technology LLC when Class B units are exchanged by the holders of Class B units for shares of Class A common stock of the Company and upon other qualifying transactions. Each change in outstanding shares of Class A common stock of the Company results in a corresponding increase or decrease in the Company's ownership of Class A units of Viant Technology LLC. The Company intends to treat any exchanges of Class B units as direct purchases of LLC interests for U.S. federal income tax purposes. These increases in tax basis may reduce the amounts that the Company would otherwise pay in the future to various taxing authorities. They may also decrease gains (or increase losses) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets.

In connection with the IPO, the Company entered into a Tax Receivable Agreement (“TRA”) with Viant Technology LLC and the holders of Class B units of Viant Technology LLC. In the event that such parties exchange any or all of their Class B units for Class A common stock, the TRA requires the Company to make payments to such holders for 85% of the tax benefits realized, or in some cases deemed to be realized, by the Company by such exchange as a result of (i) increases in the Company’s tax basis of its ownership interest in the net assets of Viant Technology LLC resulting from any redemptions or exchanges of noncontrolling interest, (ii) tax basis increases attributable to payments made under the TRA and (iii) deductions attributable to imputed interest pursuant to the TRA (the “TRA Payments”). The annual tax benefits are computed by calculating the income taxes due, including such tax benefits and the income taxes due without such benefits. The Company expects to benefit from the remaining 15% of any tax benefits that it may actually realize. The TRA Payments are not conditioned upon any continued ownership interest in Viant Technology LLC or the Company. To the extent that the Company is unable to timely make payments under the TRA for any reason, such payments generally will be deferred and will accrue interest until paid.

The timing and amount of aggregate payments due under the TRA may vary based on a number of factors, including the amount and timing of the taxable income the Company generates each year and the tax rate then applicable. The Company calculates the liability under the TRA using a TRA model, which includes an assumption related to the fair market value of assets. The payment obligations under the TRA are obligations of the Company and not of Viant Technology LLC. Payments are generally due under the TRA within a specified period of time following the filing of the Company’s tax return for the taxable year with respect to which the payment obligation arises, although interest on such payments will begin to accrue at a rate of the Secured Overnight Financing Rate plus 500 basis points from the due date (without extensions) of such tax return.

The TRA provides that if (i) certain mergers, asset sales, other forms of business combinations, or other changes of control were to occur, (ii) there is a material breach of any material obligations under the TRA; or (iii) the Company elects an early termination of the TRA, then the TRA will terminate and the Company's obligations, or the Company's successor’s obligations, under the TRA will accelerate and become due and payable, based on certain assumptions, including an assumption that the Company would have sufficient taxable income to fully utilize all potential future tax benefits that are subject to the TRA and that any Class B units that have not been exchanged are deemed exchanged for the fair market value of the Company's Class A common stock at the time of termination.

Treasury Stock

We account for treasury stock under the cost method. When treasury stock is re-issued at a price higher than its cost, the difference is recorded as a component of additional paid-in-capital in our consolidated balance sheets. When treasury stock is re-issued at a price lower than its cost, the difference is recorded as a component of additional paid-in-capital to the extent that there are previously recorded gains to offset the losses. If there are no treasury stock gains in additional paid-in-capital, the losses upon re-issuance of treasury stock are recorded as an increase in accumulated deficit in our consolidated balance sheets.

JOBS Act Election as an Emerging Growth Company

On April 5, 2012, the Jumpstart Our Business Startups Act (the “JOBS Act”) was signed into law. The JOBS Act contains provisions that, among other things, reduce certain reporting requirements for qualifying public companies. As an “emerging growth company,” the Company may, under Section 7(a)(2)(B) of the Securities Act, delay adoption of new or revised accounting standards applicable to public companies until such standards would otherwise apply to private companies. An “emerging growth company” is one with less than $1.235 billion in annual gross revenues, has issued less than $1 billion of non-convertible debt over a three-year

period and is not deemed to be a large accelerated filer under the rules of the SEC. The Company will remain an emerging growth company until December 31, 2026, or sooner if it no longer qualifies. The Company may take advantage of this extended transition period until the first to occur of the date that it (i) is no longer an “emerging growth company” or (ii) affirmatively and irrevocably opts out of this extended transition period.

The Company has elected to take advantage of the benefits of this extended transition period. Until the date that the Company is no longer an “emerging growth company” or affirmatively and irrevocably opts out of the exemption provided by Securities Act Section 7(a)(2)(B), upon issuance of a new or revised accounting standard that applies to its consolidated financial statements and that has a different effective date for public and private companies, the Company will disclose the date on which it will adopt the recently issued accounting standard.

Recently Issued Accounting Pronouncements and Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

Disclosure Improvements

In October 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") No. 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. ASU 2023-06 includes a number of amendments to clarify or improve disclosure and presentation requirements of a variety of topics in order to allow users to more easily compare entities subject to the SEC’s existing disclosures with those entities that were not previously subject to the requirements and to align the requirements in the FASB accounting standard codification with the SEC's regulations. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure requirement from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company is currently evaluating the impact of these amendments.

Segment Reporting

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 requires companies with a single reportable segment to provide all existing segment disclosures in Topic 280, as well as new incremental segment information required by this standard on an annual and interim basis. The guidance is effective for fiscal years beginning after December 15, 2023 on a retrospective basis, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of these amendments.

Income Taxes

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 is designed to enhance the transparency and decision usefulness of income tax disclosures. The amendments of this update are related to the rate reconciliation and income taxes paid, requiring consistent categories and greater disaggregation of information in the rate reconciliation as well as income taxes paid disaggregated by jurisdiction. The effective date for this ASU is for the fiscal year beginning January 1, 2025, with early adoption permitted. The Company is currently evaluating the impact of these amendments.

Recently Adopted Accounting Pronouncements

Leases

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. The guidance offers specific accounting guidance for a lessee, lessor, and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. Leases will be classified as either finance or operating, with the classification affecting the pattern of expense recognition in the income statement. As a part of the Company’s election under the JOBS Act, the guidance became effective for the Company’s annual reporting period after December 15, 2021 and interim reporting periods within the annual period after December 15, 2022. The Company adopted Topic 842 effective January 1, 2022 utilizing the modified retrospective transition method. The adoption of Topic 842 had a material impact on the Company’s consolidated balance sheet as certain of our operating lease commitments were recognized as right-of-use assets and lease liabilities. This new guidance did not have a material impact upon the Company’s consolidated statement of operations. We elected the package of practical expedients permitted under the transition guidance within Topic 842, which allowed us to carry forward prior conclusions about lease identification, classification and initial direct costs for leases entered into prior to adoption of Topic 842. Additionally, we elected to not separate lease and non-lease components for all of our leases. For leases with a term of 12 months or less, we elected the short-term lease exemption, which allowed us to not recognize right-of-use assets or lease liabilities for qualifying leases existing at transition and new leases we may enter into in the future.

Financial Instruments—Credit Losses

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326). ASU 2016-13 revises the impairment model to utilize an expected loss methodology in place of the incurred loss methodology, which results in more timely recognition of losses on financial instruments. We adopted this standard at the beginning of fiscal 2023. As a result, we revised the impairment model to utilize an expected loss methodology in place of an incurred loss methodology related to our allowance for credit losses. We evaluate our allowance for credit losses based on historical bad debt experience, our assessment of the financial condition of companies with which we do business, current macroeconomic conditions and reasonable and supportable forecasts of future macroeconomic conditions. The adoption did not have a material impact on the Company's consolidated financial statements.

Codification Improvements

In October 2020, the FASB issued ASU No. 2020-10, Codification Improvements, which updates various codification topics by clarifying disclosure requirements to align with the SEC's regulations. The guidance became effective for the Company’s annual reporting period after December 15, 2021 and interim reporting periods within the annual period after December 15, 2022. Effective January 1, 2022, we adopted this standard on a prospective basis. The adoption of this ASU did not have a material impact on the consolidated financial statements.

Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options

In May 2021, the FASB issued ASU No. 2021-04, Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options, which clarifies an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modifications or exchanges. The ASU requires issuers to account for the modifications or exchanges based on the economic substance of the modification or exchange and whether the transaction was done to issue equity, to issue or modify debt, or for other reasons. We adopted this standard prospectively on January 1, 2022. The adoption did not have an impact on the consolidated financial statements.

Nature of Operations	12 Months Ended
Nature of Operations	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Viant Technology Inc. (the “Company,” “we,” “us,” “our” or “Viant”) was incorporated in the State of Delaware on October 9, 2020. The Company operates a demand side platform ("DSP") that is used by marketers and their advertising agencies to centralize the planning, buying and measurement of their advertising across most channels, including desktop, mobile, connected TV, linear TV, in-game, streaming audio and digital billboards. On February 9, 2021, the Securities and Exchange Commission (“SEC”) declared effective the Company’s Form S-1 related to the initial public offering ("IPO") of its Class A common stock. The closing date of the IPO was February 12, 2021, and in connection with the closing and the corporate reorganization (the “Reorganization Transactions”), the following actions were taken: •The Company amended and restated its certificate of incorporation, under which the Company is authorized to issue up to 450,000,000 shares of Class A common stock, up to 150,000,000 shares of Class B common stock, and up to 10,000,000 shares of preferred stock; •The limited liability company agreement of Viant Technology LLC was amended and restated (as amended and restated, the “Viant Technology LLC Agreement”) to, among other things, provide for Class A units and Class B units and appoint the Company as the sole managing member of Viant Technology LLC; •The Viant Technology LLC Agreement classified the interests acquired by the Company as Class A units, reclassified the interests held by the continuing members of Viant Technology LLC as Class B units, and permits the continuing members of Viant Technology LLC to exchange Class B units for shares of Class A common stock of Viant Technology Inc. on a one-for-one basis or, at the election of Viant Technology Inc., for cash at the current fair value on the date of the exchange. Immediately following such reclassification, the continuing members held 48,935,559 Class B units. For each membership unit of Viant Technology LLC that was reclassified as a Class B unit, the Company issued one corresponding share of our Class B common stock to the continuing members, or 48,935,559 shares of Class B common stock in total; •The Company issued and sold 10,000,000 shares of its Class A common stock to the underwriters at an IPO price of $25.00 per share, for gross proceeds of $250.0 million before deducting underwriting discounts and commissions of $17.5 million; •The Company used the net proceeds of $232.5 million to acquire 10,000,000 newly issued Class A units of Viant Technology LLC at a per-unit price equal to the per-share price paid by the underwriters for shares of our Class A common stock; •The underwriters exercised their option to purchase 1,500,000 additional shares of Class A common stock from the selling stockholders in the IPO. The Company did not receive any proceeds from the sale of shares by the selling stockholders. Pursuant to such exercise, the selling stockholders exchanged the corresponding number of Class B units for the shares of Class A common stock, the corresponding number of shares of Class B common stock were automatically retired, and 1,500,000 Class A units were issued to the Company; •The Class B stockholders and Class A stockholders initially had 80.5% and 19.5%, respectively, of the combined voting power of the Company’s common stock. The Class A common stock outstanding represents 100% of the rights of the holders of all classes of the Company’s outstanding common stock to share in distributions from the Company, except for the right of Class B stockholders to receive the par value of the Class B common stock upon our liquidation, dissolution or winding up or an exchange of Class B units; •The Company entered into a Registration Rights Agreement with the Class B stockholders to provide for certain rights and restrictions after the IPO; and •Viant Technology LLC’s 2020 Equity Based Incentive Compensation Plan (the “Phantom Unit Plan”) was terminated and replaced with the Company’s 2021 Long Term Incentive Plan (the “LTIP”). Immediately following the closing of the IPO, Viant Technology LLC became the predecessor of the Company for financial reporting purposes. Viant Technology Inc. is a holding company, and its sole material asset is its equity interest in Viant Technology LLC. As the sole managing member of Viant Technology LLC, the Company operates and controls all of the business and affairs of Viant Technology LLC. The Reorganization Transactions are accounted for as a reorganization of entities under common control. As a result, the consolidated financial statements of the Company recognize the assets and liabilities received in the Reorganization Transactions at their historical carrying amounts, as reflected in the historical consolidated financial statements of Viant Technology LLC. The Company consolidates Viant Technology LLC in its consolidated financial statements and records a noncontrolling interest related to the Class B units held by the Class B stockholders on its consolidated balance sheets, and statements of operations.

Stock-based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Feb. 12, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			4 years
Compensation cost		$ 32,291	$ 28,901	$ 68,822
Expected dividend yield		0.00%	0.00%	0.00%
Phantom Unit Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period				4 years
2021 LTIP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares remained available for grant (shares)		4,700,000
2021 LTIP \| Class A Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for issuance (shares)	11,787,112
Annual increase percentage of shares reserved for issuance	5.00%
2021 LTIP \| Class A Common Stock \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Annual increase percentage of shares reserved for issuance			5.00%
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based payment award equity instruments other than options grants in period (shares)		1,843
Total fair value of RSUs, as of their respective vesting dates		$ 9,900
Unrecognized stock-based compensation expected to be recognized		$ 16,100
Unrecognized stock-based compensation expected to be recognized over a weighted-average period		1 year 10 months 24 days
Unrecognized stock-based compensation expected to be recognized		$ 16,100
Restricted Stock Units \| 2021 LTIP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based payment award equity instruments other than options grants in period (shares)	6,200,000
Nonqualified Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expected to be recognized		$ 11,100
Unrecognized stock-based compensation expected to be recognized over a weighted-average period		1 year 9 months 18 days
Weighted-average grant-date fair value of stock options granted (shares)		$ 3.20
Unrecognized stock-based compensation expected to be recognized		$ 11,100

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands		12 Months Ended
	Apr. 14, 2020 USD ($)	Dec. 31, 2023 USD ($) impression reportingUnit Customer Supplier	Dec. 31, 2022 USD ($) Customer Supplier	Dec. 31, 2021 USD ($)	Jan. 01, 2022 USD ($)
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Money market funds		$ 188,000
Ad impressions \| impression		1,000
Advertising costs		$ 3,400	$ 9,300	$ 4,100
Share-based compensation arrangement by share-based payment award, initial public offering lock-up period			180 days
Vesting period			4 years
Nonqualified stock options, contractual terms			10 years
Number of reporting units \| reportingUnit		1
Operating lease assets		$ 22,995	$ 26,441		$ 21,000
Operating lease liabilities		$ 25,434			22,000
Deferred rent reclassified to operating leases					$ 1,000
Tax receivable agreement required to make payments to shareholders realized percentage of tax benefits in event that exchange of units to shares		85.00%
Tax receivable agreement expected remaining tax benefit percentage		15.00%
Minimum
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Invoice payment terms		30 days
Maximum
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Invoice payment terms		60 days
Incentive Units
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Vesting period			4 years
Phantom Unit Plan
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Vesting period				4 years
SOFR
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Tax receivable agreement interest payments accrued basis spread rate		5.00%
Viant Technology LLC
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Percentage of interest held		25.10%
Credit Concentration Risk \| Accounts Receivable
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Number of customer \| Customer		1	0
Supplier Concentration Risk \| Accounts Payable and Accrued Liabilities
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Number of supplier \| Supplier		3	1
Supplier Concentration Risk \| Accounts Payable and Accrued Liabilities \| Supplier One
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		24.60%
Customer Concentration Risk \| Customer One \| Accounts Receivable
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		17.90%
Customer Concentration Risk \| Customer One \| Accounts Payable and Accrued Liabilities
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		16.10%
Customer Concentration Risk \| Customer Two \| Accounts Payable and Accrued Liabilities
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		14.40%
Customer Concentration Risk \| Customer Three \| Accounts Payable and Accrued Liabilities
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		11.60%
Paycheck Protection Program Loan
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Proceeds from issuance of debt	$ 6,000

Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Basis Of Presentation And Summary Of Significant Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

Use of Estimates

Comprehensive Loss

For the periods presented, net loss is equal to comprehensive loss.

Segment Information

Revenue Recognition

•Identification of a contract with a customer;

•Identification of the performance obligations in the contract;

•Determination of the transaction price;

•Allocation of the transaction price to the performance obligations in the contract; and

•Recognition of revenue when or as the performance obligations are satisfied.

Operating Expenses

We classify our operating expenses into the following four categories. Each expense category includes overhead such as rent and occupancy charges, which is allocated based on headcount.

Stock-Based Compensation

Stock-based compensation relates to equity awards granted under the Company’s LTIP, which is measured and recognized in the consolidated financial statements based on the fair value of the equity awards granted. Since inception of the LTIP, the Company has only granted restricted stock units (“RSUs”) and nonqualified stock options. The fair value of RSUs is calculated using the closing market price of the Company’s Class A common stock on the date of grant. The fair value of nonqualified stock options is estimated using the Black-Scholes option pricing model. The Black-Scholes option pricing model is impacted by the fair value of the Company’s Class A common stock, as well as changes in certain assumptions, including but not limited to, the expected Class A common stock price volatility over the term of the nonqualified stock options, the expected term of the nonqualified stock options, the risk-free interest rate, and the expected dividend yield. The Company records compensation for all equity awards under the LTIP under the straight-line attribution method over the requisite service period. The Company has elected the accounting policy for stock-based compensation to account for forfeitures as they occur.

A portion of RSUs granted during the year ended December 31, 2021 to certain employees and board members, pursuant to the LTIP, vested upon expiration of the 180 day IPO lock-up period during the fiscal year ended December 31, 2021. The remainder of RSUs and nonqualified stock options granted to employees will vest through the applicable vesting dates. RSUs generally vest over a period of two-to-four years, contingent upon employment on the vesting date. RSUs awarded to board members upon their appointment will vest on the third anniversary of the grant date and RSUs awarded to board members annually will vest on the first anniversary of the grant date. Nonqualified stock options generally vest over a period of two-to-four years and have a contractual term of ten years.

Earnings (Loss) Per Share

Cash and Cash Equivalents

Accounts Receivable, Net of Allowances

The following table presents changes in the allowance for doubtful accounts:


	Year Ended December 31,
	2023		2022
Beginning balance	$	1,015	$	54
Cumulative impact of accounting adoption	209		—
Provision for doubtful accounts	111		1,260
Write-offs, net of recoveries	(138)		(299)
Ending balance	$	1,197	$	1,015

Property, Equipment and Software, Net


			Years
Computer equipment			3-5
Purchased software			3
Capitalized software development costs			3
Furniture, fixtures and office equipment			10
Leasehold improvements			*

*Leasehold improvements are depreciated on a straight-line basis over the term of the lease, or the useful life of the assets, whichever is shorter.

Capitalized Software Development Costs

Capitalized Interest

Impairment of Long-Lived Assets

Goodwill

Paycheck Protection Program Loan

Fair Value of Financial Instruments

•Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

Financial Instruments Not Recorded at Fair Value on a Recurring Basis

Assets and Liabilities Recorded at Fair Value on a Non-Recurring Basis

Leases

•our existing arrangements are or contain leases;

•our existing arrangements are operating or finance leases; and

•to capitalize initial direct costs.

Concentration of Risk


	Year Ended December 31,
	2023		2022		2021
Advertising Agency Holding Company
A	10.0	%	13.5	%	14.2	%
B	<10.0 %		<10.0 %		15.5	%
Individual Customer
C	14.1	%	<10.0 %		<10.0 %

Related Party Relationships

Income Taxes

Tax Receivable Agreement

Treasury Stock

JOBS Act Election as an Emerging Growth Company

Recently Issued Accounting Pronouncements

Disclosure Improvements

Segment Reporting

Income Taxes

Recently Adopted Accounting Pronouncements

Leases

Financial Instruments—Credit Losses

Codification Improvements

Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options

Property, Equipment and Software, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Equipment and Software, Net

Major classes of property, equipment and software were as follows:


	As of December 31,
	2023		2022
Capitalized software development costs	$	90,803	$	72,988
Computer equipment	1,449		1,116
Purchased software	32		32
Furniture, fixtures and office equipment	977		1,226
Leasehold improvements	2,823		2,571
Total property, equipment, and software	96,084		77,933
Less: Accumulated depreciation	(67,823)		(54,827)
Total property, equipment, and software, net	$	28,261	$	23,106

Depreciation recorded in the consolidated statements of operations was as follows:


	Year Ended December 31,
	2023		2022		2021
Platform operations	$	12,129	$	9,786	$	7,688
Sales and marketing	—		—		—
Technology and development	1,559		1,646		1,599
General and administrative	577		580		625
Total	$	14,265	$	12,012	$	9,912

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Components of Lease Expense

The components of lease cost were as follows:


	Year Ended December 31,
	2023		2022
Operating lease cost	$	4,896	$	3,669
Short-term lease cost	969		1,399
Variable lease cost	9		124
Total lease cost	$	5,874	$	5,192

Future Minimum Payments Under Non-cancelable Operating Leases

Future minimum lease payments were as follows:


	As of December 31,
Year	2023
2024	$	4,636
2025	4,445
2026	4,353
2027	4,279
2028	3,211
Thereafter	7,800
Total undiscounted future lease payments	28,724
Less: Commitments for leases not yet commenced	(312)
Less: Imputed interest	(2,978)
Present value of operating lease liabilities	25,434
Less: Operating lease liabilities, current	(3,762)
Operating lease liabilities, noncurrent	$	21,672

Nature of Operations - Additional Information (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Feb. 12, 2021 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($)
Nature Of Operations [Line Items]
Preferred stock, shares authorized (shares)	10,000,000	10,000,000
Proceeds from issuance of common stock, net of underwriting discounts \| $		$ 0	$ 0	$ 232,500
Underwriters
Nature Of Operations [Line Items]
Common stock shares issued and sold (shares)	10,000,000
Sale of stock, price per share (in dollars per share) \| $ / shares	$ 25.00
Proceeds from issuance of common stock, net of underwriting discounts \| $	$ 250,000
Payments of stock issuance costs \| $	$ 17,500
Class A Common Stock
Nature Of Operations [Line Items]
Common stock, shares authorized (shares)	450,000,000	450,000,000
Underwrites options exercised shares issued (shares)	1,500,000
Common stock voting rights percentage	19.50%
Percentage of voting rights of outstanding common stock	100.00%
Class B Common Stock
Nature Of Operations [Line Items]
Common stock, shares authorized (shares)	150,000,000	150,000,000
Common stock shares issued to continuing members (share)		50,000	24,870
Common stock voting rights percentage	80.50%
Class B Common Stock \| Viant Technology LLC
Nature Of Operations [Line Items]
Common stock shares issued for each membership unit (share)	1
Common stock shares issued to continuing members (share)	48,935,559
Continuing Members Class B Units \| Viant Technology LLC
Nature Of Operations [Line Items]
Exchange basis for continuing members		1
Common units, units outstanding (shares)	48,935,559
Class A Units
Nature Of Operations [Line Items]
Members equity units received in exchange of units	1,500,000
Class A Units \| Viant Technology LLC
Nature Of Operations [Line Items]
Payments to acquire units \| $	$ 232,500
Member units acquired, units (in shares)	10,000,000

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 4,896	$ 3,669
Short-term lease cost	969	1,399
Variable lease cost	9	124
Total lease cost	$ 5,874	$ 5,192

Income Taxes and Tax Receivable Agreement

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes and Tax Receivable Agreement

The provision for income taxes differs from the amount of income tax computed by applying the applicable U.S. statutory federal income tax rate of 21% to income before provision of income taxes due to Viant Technology LLC’s pass-through structure for U.S. income tax purposes and the valuation allowance against the deferred tax asset in the current and prior-year periods, as well as a pass-through permanent difference related to the forgiveness of the PPP Loan in the prior-year periods. The Company recognized income tax expense of $0.2 million due to current federal and state taxes payable, resulting in an effective tax rate of (1.5)% for the year ended December 31, 2023. The Company did not recognize an income tax expense or benefit for the years ended December 31, 2022 and 2021, which resulted in an effective tax rate of 0.0%.

The Company is the sole managing member of Viant Technology LLC and, as a result, consolidates the financial results of Viant Technology LLC in the consolidated financial statements. Viant Technology LLC is a pass-through entity for U.S. federal and most applicable state and local income tax purposes following a corporate reorganization effected in connection with the IPO. As an entity classified as a partnership for tax purposes, Viant Technology LLC generally is not subject to U.S. federal and certain state and local income taxes. Subsequent to the IPO, any taxable income or loss generated by Viant Technology LLC is passed through to and included in the taxable income or loss of its members, including the Company. The Company is taxed as a corporation and pays corporate federal, state and local taxes with respect to income allocated from Viant Technology LLC, based on the Company's 25.1% economic interest in Viant Technology LLC.

The provision for income taxes attributable to the Company was as follows:


	Year Ended December 31,
	2023		2022		2021
Current:
U.S. federal income tax	$	47	$	—	$	—
State and local income tax	104		—		—
Foreign income tax	—		—		—
Total current provision	151		—		—
Deferred:
U.S. federal income tax	—		—		—
State and local income tax	—		—		—
Foreign income tax	—		—		—
Total deferred provision	—		—		—
Income tax (benefit) provision	$	151	$	—	$	—

The effective tax rate for the years ended December 31, 2023 and 2022 was (1.5)% and 0.0%, respectively. A reconciliation of the statutory tax rate to the effective tax rate for the years presented are as follows:


	Year Ended December 31,
	2023		2022		2021
Income tax benefit (expense) at federal statutory rate	21.0	%	21.0	%	21.0	%
Income passed through to noncontrolling interests	(13.7)	%	(15.8)	%	(16.7)	%
State and local taxes, net of federal benefit	1.2	%	0.8	%	0.6	%
Permanent items	(1.7)	%	(0.3)	%	0.7	%
Stock-based compensation	(14.6)	%	(2.9)	%	(3.2)	%
Credits	3.3	%	0.8	%	—	%
Uncertain tax position	(1.4)	%	—	%	—	%
Other, net	(2.2)	%	0.9	%	—	%
Valuation allowance	6.6	%	(4.5)	%	(2.4)	%
Total effective rate	(1.5)	%	0.0	%	0.0	%

The tax effects of temporary differences that give rise to a significant portion of the deferred tax assets and deferred tax liabilities are as follows:


	Year Ended December 31,
	2023		2022		2021
Deferred tax assets:
Net operating loss carryforwards	$	1,513	$	2,561	$	1,321
Tax credits	642		800		—
Investment in Partnership	8,524		7,866		7,909
Other, net	238		253		108
Subtotal	10,917		11,480		9,338
Valuation allowance	(10,917)		(11,480)		(9,338)
Total deferred tax assets	—		—		—

Deferred tax liabilities:
Other, net	—		—		—
Total deferred tax liabilities	—		—		—
Net deferred tax (liabilities) assets	$	—	$	—	$	—

In assessing the realizability of deferred tax assets, the Company considers whether it is probable that some or all of the deferred tax assets will not be realized. In determining whether the deferred taxes are realizable, the Company considers the period of expiration of the tax asset, historical and projected taxable income, and tax liabilities for the tax jurisdiction in which the tax asset is located. Valuation allowances are provided to reduce the amounts of deferred tax assets to an amount that is more likely than not to be realized based on an assessment of positive and negative evidence, including estimates of future taxable income necessary to realize future deductible amounts. As of December 31, 2023 and 2022, the Company has recorded a valuation allowance against its deferred tax assets of $10.9 million and $11.5 million, respectively, as management cannot conclude whether it is more likely than not that these deferred tax assets will be realized.

As of December 31, 2023 and 2022, the Company has federal net operating loss carryforwards of approximately $6.1 million and $10.4 million, respectively. As of December 31, 2023 and 2022, the Company has state net operating losses of approximately $3.8 million and $6.1 million, respectively. The federal net operating losses carry forward indefinitely and state net operating losses begin to expire in 2032. As of December 31, 2023, the Company has federal and state research and development tax credits of approximately $0.4 million and $0.5 million, respectively. The federal credits will begin to expire in 2043 and the state credits carryforward until exhausted.

A reconciliation of the beginning and ending balance of total gross unrecognized tax benefits is as follows:


	As of December 31,
	2023		2022
Beginning balance of unrecognized tax benefits	$	—	$	—
Gross increase based on tax positions related to current year	55		—
Gross increase based on tax positions related to prior years	103		—
Ending balance of unrecognized tax benefits	$	158	$	—

The unrecognized tax benefits, if recognized, would not have an impact on the Company's effective tax rate assuming the Company continues to maintain a full valuation allowance position. As of December 31, 2023, no significant increases or decreases to the Company's uncertain tax positions are expected within the next twelve months.

The Company is subject to U.S. federal and state income taxes. The Company's U.S. federal and state returns are open to examination for all periods ending December 31, 2021 and thereafter. However, to the extent allowed by law the tax authorities may have the right to examine prior periods where net operating losses were generated and carried forward, and make adjustments up to the amount of the net operating loss or credit carry forward amount.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Leases - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lessee Lease Description [Line Items]
Operating leases for office space remaining lease terms	7 years
Operating lease weighted average remaining lease term	7 years
Operating lease weighted average incremental borrowing rate	3.60%
Cash paid for amounts included in operating lease liabilities	$ 4,700	$ 2,300
Lease liability	28,724
Short-term lease commitment	2,300
Michigan Office Space
Lessee Lease Description [Line Items]
Lease liability	$ 300
Maximum
Lessee Lease Description [Line Items]
Lessee operating lease renewal term	5 years

Income Taxes and Tax Receivable Agreement - Significant Portion of Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss carryforwards	$ 1,513	$ 2,561	$ 1,321
Tax credits	642	800	0
Investment in Partnership	8,524	7,866	7,909
Other, net	238	253	108
Subtotal	10,917	11,480	9,338
Valuation allowance	(10,917)	(11,480)	(9,338)
Total deferred tax assets	0	0	0
Deferred tax liabilities:
Other, net	0	0	0
Total deferred tax liabilities	0	0	0
Net deferred tax (liabilities) assets	$ 0	$ 0	$ 0

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Costa Mesa, California

Loss Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Loss Per Share

For the years ended December 31, 2023, 2022 and 2021, basic net loss per share has been calculated by dividing net loss attributable to Class A common stockholders for the periods subsequent to the Reorganization Transactions, by the weighted average number of shares of Class A common stock outstanding for the same period. Shares of Class A common stock are weighted for the portion of the period in which the shares were outstanding. Diluted net loss per share has been calculated in a manner consistent with that of basic net loss per share while considering all potentially dilutive shares of Class A common stock outstanding during the period.

The following table presents the calculation of basic and diluted net loss per share for the periods presented. Refer to Note 2—Basis of Presentation and Summary of Significant Accounting Policies for additional information related to basic and diluted loss per share.


	Year Ended December 31,
	2023		2022		2021
Numerator
Net loss	$	(9,943)	$	(48,089)	$	(37,609)
Less: Net loss attributable to noncontrolling interests	(6,500)		(36,176)		(29,867)
Net loss attributable to Viant Technology Inc.	$	(3,443)	$	(11,913)	$	(7,742)
Denominator
Weighted-average shares of Class A common stock outstanding—basic and diluted	15,224		14,185		12,364

Loss per share of Class A common stock—basic	$	(0.23)	$	(0.84)	$	(0.63)
Loss per share of Class A common stock—diluted	$	(0.23)	$	(0.84)	$	(0.63)

Anti-dilutive shares excluded from loss per share of Class A common stock—diluted:
Restricted stock units	3,647		3,928		3,033
Nonqualified stock options	5,736		3,661		220
Shares of Class B common stock	47,032		47,082		47,107
Total shares excluded from loss per share of Class A common stock—diluted	56,415		54,671		50,360

Commitment and Contingencies (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Contractual obligation amount	$ 0	$ 0
Contractual Obligation, to be Paid, Year One	7,100,000
Contractual Obligation, to be Paid, Year Two	5,900,000
Contractual Obligation, to be Paid, Year Three	$ 1,500,000

Property, Equipment and Software, Net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Major Classes of Property, Equipment and Software

Major classes of property, equipment and software were as follows:


	As of December 31,
	2023		2022
Capitalized software development costs	$	90,803	$	72,988
Computer equipment	1,449		1,116
Purchased software	32		32
Furniture, fixtures and office equipment	977		1,226
Leasehold improvements	2,823		2,571
Total property, equipment, and software	96,084		77,933
Less: Accumulated depreciation	(67,823)		(54,827)
Total property, equipment, and software, net	$	28,261	$	23,106

Schedule of Depreciation

Depreciation recorded in the consolidated statements of operations was as follows:


	Year Ended December 31,
	2023		2022		2021
Platform operations	$	12,129	$	9,786	$	7,688
Sales and marketing	—		—		—
Technology and development	1,559		1,646		1,599
General and administrative	577		580		625
Total	$	14,265	$	12,012	$	9,912

CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED UNITS AND EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Accounting Standards Update 2016-13	Convertible Preferred Units	Common Units	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Deficit Accounting Standards Update 2016-13	Members' Equity	Treasury Stock	Noncontrolling Interests
Beginning balance, convertible preferred units (shares) at Dec. 31, 2020			600,000
Beginning balance, convertible preferred units at Dec. 31, 2020			$ 7,500
Beginning balance (shares) at Dec. 31, 2020				400,000	0	0
Beginning balance at Dec. 31, 2020	$ 20,117				$ 0	$ 0	$ 0	$ 0		$ 20,117		$ 0
Beginning balance, treasury stock (shares) at Dec. 31, 2020											0
Beginning balance, treasury stock at Dec. 31, 2020											$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income prior to Reorganization Transactions	(413)						(413)
Net income (loss)	(37,609)
Net Income Loss Prior To Reorganization Transactions	669									669
Effect of Reorganization Transactions (shares)			(600,000)
Temporary Equity Value Effect Of Reorganization Transactions			$ (7,500)
Effect of Reorganization Transactions (shares)				(400,000)		48,936,000
Stock Issued During Period Value Effect Of Reorganization Transactions	7,500					$ 49	28,237			(20,786)
Issuance of Class A common stock in initial public offering, net of underwriting and offering costs (shares)					11,500,000	(1,500,000)
Issuance of Class A common stock in connection with vesting of restricted stock units	228,185				$ 12	$ (2)	228,175
Exchange of Class B common stock for Class A common stock (shares)					329,000	(329,000)
Exchange of Class B common stock for Class A common stock	0
Issuance of common stock in connection with equity-based compensation plans (shares)					2,092,000
Issuance of Class A common stock in connection with vesting of restricted stock units	0				$ 2		(2)
Repurchase of treasury shares in connection with the taxes paid related to net share settlement of equity awards (shares)											(915,000)
Repurchase of treasury stock in connection with the taxes paid related to net share settlement of equity awards	(15,045)										$ (15,045)
Reissuance of treasury stock in connection with equity-based compensation plans (shares)											699,000
Reissuance of treasury stock in connection with equity-based compensation plans	0							(12,397)			$ 12,397
Allocation of equity to noncontrolling interests							(252,948)					252,948
Stock-based compensation	79,839						79,839
Net loss	(38,278)							(7,742)				(30,536)
Ending balance, convertible preferred units (shares) at Dec. 31, 2021			0
Ending balance, convertible preferred units at Dec. 31, 2021			$ 0
Ending balance (shares) at Dec. 31, 2021				0	13,921,000	47,107,000
Ending balance at Dec. 31, 2021	282,574				$ 14	$ 47	82,888	(20,139)		0		222,412
Ending balance, treasury stock (shares) at Dec. 31, 2021											216,000
Ending balance, treasury stock at Dec. 31, 2021											$ (2,648)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income prior to Reorganization Transactions	(11)						(11)
Net income (loss)	(48,089)
Issuance of Class A common stock in initial public offering, net of underwriting and offering costs (shares)					838,000
Issuance of Class A common stock in connection with vesting of restricted stock units	0				$ 1		(1)
Exchange of Class B common stock for Class A common stock (shares)					25,000	(25,000)
Exchange of Class B common stock for Class A common stock	0
Repurchase of treasury shares in connection with the taxes paid related to net share settlement of equity awards (shares)											(424,000)
Repurchase of treasury stock in connection with the taxes paid related to net share settlement of equity awards	(2,036)										$ (2,036)
Reissuance of treasury stock in connection with equity-based compensation plans (shares)											500,000
Reissuance of treasury stock in connection with equity-based compensation plans	0							(4,209)			$ 4,209
Allocation of equity to noncontrolling interests							(20,284)					20,284
Stock-based compensation	33,330						33,330
Net loss	(48,089)							(11,913)				(36,176)
Ending balance, convertible preferred units (shares) at Dec. 31, 2022			0
Ending balance, convertible preferred units at Dec. 31, 2022			$ 0
Ending balance (shares) at Dec. 31, 2022				0	14,784,000	47,082,000
Ending balance at Dec. 31, 2022	$ 265,768	$ (209)			$ 15	$ 47	95,922	(36,261)	$ (209)	0		206,520
Ending balance, treasury stock (shares) at Dec. 31, 2022	(140,088)										(140,000)
Ending balance, treasury stock at Dec. 31, 2022											$ (475)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income prior to Reorganization Transactions	$ (14,697)						(14,697)
Net income (loss)	(9,943)							(3,443)				(6,500)
Exchange of Class B common stock for Class A common stock (shares)					50,000	(50,000)
Exchange of Class B common stock for Class A common stock	0
Issuance of common stock in connection with equity-based compensation plans (shares)					1,102,000
Issuance of Class A common stock in connection with vesting of restricted stock units	0				$ 1		(1)
Repurchase of treasury shares in connection with the taxes paid related to net share settlement of equity awards (shares)											(823,000)
Repurchase of treasury stock in connection with the taxes paid related to net share settlement of equity awards	(4,248)										$ (4,248)
Reissuance of treasury stock in connection with equity-based compensation plans (shares)											809,000
Reissuance of treasury stock in connection with equity-based compensation plans	0							(3,596)			$ 3,596
Allocation of equity to noncontrolling interests							(6,112)					6,112
Stock-based compensation	37,706						37,706
Ending balance, convertible preferred units (shares) at Dec. 31, 2023			0
Ending balance, convertible preferred units at Dec. 31, 2023			$ 0
Ending balance (shares) at Dec. 31, 2023				0	15,938,000	47,032,000
Ending balance at Dec. 31, 2023	$ 274,389				$ 16	$ 47	$ 112,830	$ (43,509)		$ 0	$ (1,127)	$ 206,132
Ending balance, treasury stock (shares) at Dec. 31, 2023	(153,875)										(154,000)

Related Parties - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Meredith Corporation
Related Party Transaction [Line Items]
Revenues	$ 0	$ 0	$ 0
Purchases from related parties	0	0	$ 0
Affiliated Entity
Related Party Transaction [Line Items]
Accrued liabilities	300,000	200,000
Expenses incurred	$ 900,000	$ 1,000,000.0

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 216,458	$ 206,573
Accounts receivable, net of allowances	117,473	101,658
Prepaid expenses and other current assets	6,486	6,631
Total current assets	340,417	314,862
Property, equipment, and software, net	28,261	23,106
Operating lease assets	22,995	26,441
Intangible assets, net	201	667
Goodwill	12,422	12,422
Other assets	615	385
Total assets	404,911	377,883
Current liabilities:
Accounts payable	47,342	37,063
Accrued liabilities	39,263	35,063
Accrued compensation	10,925	9,162
Current portion of deferred revenue	316	123
Current portion of operating lease liabilities	3,762	3,711
Other current liabilities	7,242	1,995
Total current liabilities	108,850	87,117
Long-term debt	0	0
Long-term portion of operating lease liabilities	21,672	24,998
Total liabilities	130,522	112,115
Commitments and contingencies (Note 13)
Stockholders’ equity
Preferred stock, $0.001 par value	0	0
Additional paid-in capital	112,830	95,922
Accumulated deficit	(43,509)	(36,261)
Treasury stock, at cost; 153,875 and 140,088 shares held	(1,127)	(475)
Total stockholders' equity attributable to Viant Technology Inc.	68,257	59,248
Noncontrolling interests	206,132	206,520
Total equity	274,389	265,768
Total liabilities and stockholders' equity	404,911	377,883
Class A Common Stock
Stockholders’ equity
Common stock, $0.001 par value	16	15
Class B Common Stock
Stockholders’ equity
Common stock, $0.001 par value	$ 47	$ 47

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Changes in Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 1,015	$ 54
Cumulative impact of accounting adoption	209	0
Provision for doubtful accounts	111	1,260
Write-offs, net of recoveries	(138)	(299)
Ending balance	$ 1,197	$ 1,015

Related Parties	12 Months Ended
Related Parties	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Parties	Related Parties The Company had a balance of $0.3 million as of December 31, 2023 and $0.2 million as of December 31, 2022, payable to related parties for expenses they incurred on our behalf, which was recorded within accrued liabilities on the consolidated balance sheets. The related expense incurred by the Company was $0.9 million for the year ended December 31, 2023, and $1.0 million for the year ended December 31, 2022. The Company recorded no revenue from its transactions with related parties during the years ended December 31, 2023, 2022 and 2021. The Company recorded no purchases from related parties during the years ended December 31, 2023, 2022 and 2021. As of December 31, 2023 and 2022, no amounts were due to or due from related parties, other than those mentioned above.

Revenue

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue

The Company recognizes revenue in accordance with ASC 606. Although the Company maintains agreements with its customers in multiple contractual forms, the overall promise within each of the contract types is to provide customers the ability to plan, buy and measure their digital advertising campaigns using our platform. Refer to Note 2—Basis of Presentation and Summary of Significant Accounting Policies for additional information.

The disaggregation of revenue was as follows:


	Year Ended December 31,
	2023		2022		2021
Over-time revenue	$	3,364	$	800	$	3,880
Point-in-time revenue	219,570		196,368		220,247
Total revenue	$	222,934	$	197,168	$	224,127

Revenue for unsatisfied performance obligations expected to be recognized in the future for contracts with an original expected duration of greater than one year was $0.2 million and $0.1 million as of December 31, 2023 and 2022, respectively. These amounts do not include contracts with an original expected duration of less than one year, which is the majority of the Company’s contracts. As of December 31, 2023 and 2022, total deferred revenue was $0.3 million and $0.1 million, respectively. Remaining deferred revenue that is anticipated to be recognized during the succeeding twelve month period is recorded in the current portion of deferred revenue within the consolidated balance sheets.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Noncontrolling Interests - Summary Ownership of Viant Technology LLC (Details) - Viant Technology LLC - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Minority Interest [Line Items]
Units owned (shares)	62,816,201	61,726,058
Ownership Percentage	100.00%	100.00%
Viant Technology Inc
Minority Interest [Line Items]
Units owned (shares)	15,783,941	14,643,798
Ownership percentage by Viant Technology Inc.	25.10%	23.70%
Noncontrolling Interests
Minority Interest [Line Items]
Units owned (shares)	47,032,260	47,082,260
Ownership percentage by non-controlling interests	74.90%	76.30%

Noncontrolling Interests

12 Months Ended

Dec. 31, 2023

Noncontrolling Interest [Abstract]

Noncontrolling Interests

Viant Technology Inc. is the sole managing member of Viant Technology LLC and, as a result, consolidates the financial results of Viant Technology LLC. We report noncontrolling interests representing the economic interests in Viant Technology LLC held by the other members of Viant Technology LLC. The Viant Technology LLC Agreement classifies the interests acquired by the Company as Class A units, reclassified the interests held by the continuing members of Viant Technology LLC as Class B units and permits the continuing members of Viant Technology LLC to exchange Class B units for shares of Class A common stock on a one-for-one basis or, at the election of Viant Technology Inc., for cash at the current fair value on the date of the exchange. Changes in the Company’s ownership interest in Viant Technology LLC while retaining control of Viant Technology LLC will be accounted for as equity transactions. As such, future redemptions or direct exchanges of Class B units in Viant Technology LLC by the other members and future issuances of Class A common stock under the LTIP will result in a change in ownership, where the Company will rebalance the noncontrolling interest, offset by a change in additional-paid-in-capital.

The following table summarizes the ownership of Viant Technology LLC:


	As of December 31, 2023			As of December 31, 2022
Owner	Units Owned	Ownership Percentage		Units Owned	Ownership Percentage
Viant Technology Inc.	15,783,941	25.1	%	14,643,798	23.7	%
Noncontrolling interests	47,032,260	74.9	%	47,082,260	76.3	%
Total	62,816,201	100.0	%	61,726,058	100.0	%

During the year ended December 31, 2023, noncontrolling interests exchanged 50,000 Class B shares of Viant Technology LLC for 50,000 shares of the Company’s Class A common stock, which also resulted in the cancellation of 50,000 shares of the Company’s Class B common stock that was previously held by noncontrolling interests with no additional consideration provided. During the year ended December 31, 2022, noncontrolling interests exchanged 24,870 Class B shares of Viant Technology LLC for 24,870 shares of the Company’s Class A common stock, which also resulted in the cancellation of 24,870 shares of the Company’s Class B common stock that was previously held by noncontrolling interests with no additional consideration provided.

The following table presents the effect of changes in the Company’s ownership interest in Viant Technology LLC on the Company’s equity for the years indicated:


	Year Ended December 31,
	2023		2022		2021
Net loss attributable to Viant Technology Inc.	$	(3,443)	$	(11,913)	$	(7,742)
Transfers to noncontrolling interests:
Decrease in the additional-paid-in-capital of Viant Technology Inc. resulting from ownership changes in Viant Technology LLC	(6,112)		(20,284)		(44,361)
Change from net loss attributable to Viant Technology Inc. and transfers to noncontrolling interests	$	(9,555)	$	(32,197)	$	(52,103)

Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Summary of Disaggregation of Revenue

The disaggregation of revenue was as follows:


	Year Ended December 31,
	2023		2022		2021
Over-time revenue	$	3,364	$	800	$	3,880
Point-in-time revenue	219,570		196,368		220,247
Total revenue	$	222,934	$	197,168	$	224,127

Goodwill and Intangible Assets, Net - Summary of Balances of Intangibles Assets and Accumulated Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]
Gross Amount	$ 8,627	$ 8,627
Accumulated Amortization	(8,426)	(7,960)
Net Carrying Amount	201	$ 667
Developed technology
Finite Lived Intangible Assets [Line Items]
Remaining Weighted- Average Useful Life (years)		1 month 6 days
Gross Amount	4,927	$ 4,927
Accumulated Amortization	(4,927)	(4,869)
Net Carrying Amount	$ 0	$ 58
Customer relationships
Finite Lived Intangible Assets [Line Items]
Remaining Weighted- Average Useful Life (years)	1 month 6 days	1 year 1 month 6 days
Gross Amount	$ 2,300	$ 2,300
Accumulated Amortization	(2,272)	(1,944)
Net Carrying Amount	$ 28	$ 356
Trademarks/tradenames
Finite Lived Intangible Assets [Line Items]
Remaining Weighted- Average Useful Life (years)	2 years 2 months 12 days	3 years 2 months 12 days
Gross Amount	$ 1,400	$ 1,400
Accumulated Amortization	(1,227)	(1,147)
Net Carrying Amount	$ 173	$ 253

Loss Per Share - Calculation of Basic and Diluted Net Earnings (Loss) Per Share/Unit (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator
Net income (loss)	$ (9,943,000)	$ (48,089,000)	$ (37,609,000)
Less: Net loss attributable to noncontrolling interests	(6,500,000)	(36,176,000)	(29,867,000)
Net loss attributable to Viant Technology Inc.	(3,443,000)	(11,913,000)	(7,742,000)
Weighted-average shares of Class A common stock outstanding—basic and diluted	15,224,000	14,185,000	12,364,000
Less: Net loss attributable to noncontrolling interests	$ (6,500,000)	$ (36,176,000)	$ (29,867,000)
Weighted-average Class A common stock outstanding:
Anti-dilutive shares excluded from loss per share of Class A common stock—diluted:	15,224,000	14,185,000	12,364,000
Restricted stock units
Nonqualified stock options	5,736,000	3,661,000	220,000
Shares of Class B common stock	15,224,000	14,185,000	12,364,000
Earnings Per Share, Basic [Abstract]
Total earnings (loss) per Class A common stock/unit—basic (dollars per share)	$ (0.23)	$ (0.84)	$ (0.63)
Earnings Per Share, Diluted [Abstract]
Total earnings (loss) per Class A common stock/unit—diluted (dollars per share)	$ (0.23)	$ (0.84)	$ (0.63)
Class A Common Stock
Numerator
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	$ 0.23	$ 0.84	$ 0.63
Loss per share of Class A common stock—diluted	$ (0.23)	$ (0.84)	$ (0.63)
Restricted stock units
Shares of Class B common stock	47,032,000	47,082,000	47,107,000

Stock-based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock-based Compensation

In connection with the IPO, which occurred on February 12, 2021, the Phantom Unit Plan was replaced by the LTIP. The aggregate maximum number of shares of the Company’s Class A common stock that may be issued pursuant to stock awards under the LTIP, or the Share Reserve, is 11,787,112 shares of Class A common stock. The Share Reserve automatically increases on January 1 of each year, commencing on January 1, 2022 and ending with a final increase on January 1, 2031 in an amount equal to 5% of the total number of shares of capital stock outstanding on December 31 of the preceding calendar year; provided, however, that the

Company’s board of directors may provide that there will not be a January 1 increase in the Share Reserve in a given year or that the increase will be less than 5% of the shares of capital stock outstanding on the preceding December 31.

On February 12, 2021, 6.2 million RSUs were granted under the LTIP. The Company is authorized to grant RSUs, incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock awards, and performance stock awards under the LTIP. As of December 31, 2023, the Company had currently only granted RSUs and nonqualified stock options. Under the LTIP, 4.7 million shares of Class A common stock remained available for grant as of December 31, 2023.

Stock-based compensation recorded in the consolidated statements of operations was as follows:


	Year Ended December 31,
	2023		2022		2021
Platform operations	$	4,104	$	4,761	$	13,096
Sales and marketing	9,729		9,010		25,639
Technology and development	5,752		5,323		12,373
General and administrative	12,706		9,807		17,714
Total	$	32,291	$	28,901	$	68,822

RSUs

The following summarizes RSU activity:


	Number of Shares (in thousands)	Weighted- Average Grant-Date Fair Value
RSUs outstanding as of December 31, 2022	3,928	$	12.59
Granted	1,843	4.59
Vested	(1,911)	17.96
Canceled/forfeited	(213)	7.38
RSUs outstanding as of December 31, 2023	3,647	$	6.03

The total fair value of RSUs, as of their respective vesting dates, during the year ended December 31, 2023 was $9.9 million. As of December 31, 2023, the Company had unrecognized stock-based compensation relating to RSUs of approximately $16.1 million, which is expected to be recognized over a weighted-average period of 1.9 years.

Nonqualified Stock Options

The following summarizes nonqualified stock option activity:


	Number of Options (in thousands)	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2022	3,661	$	6.14	9.2	$	—
Granted	2,229	4.44
Exercised	(2)	6.00
Canceled	(117)	5.79
Expired	(35)	18.76
Outstanding as of December 31, 2023	5,736	$	5.41	8.6	$	8,807

Vested and exercisable	1,562	$	6.03	8.1	$	1,530

The weighted-average grant date fair value of the nonqualified stock options granted during the year ended December 31, 2023 was $3.20. The Company had unrecognized stock-based compensation relating to unvested nonqualified stock options of

approximately $11.1 million, which is expected to be recognized over a weighted-average period of 1.8 years as of December 31, 2023.

The assumptions used in the Black-Scholes model to determine the fair value of nonqualified stock options were as follows:


	Year Ended December 31,
	2023	2022	2021
Risk free interest rate	3.8% - 4.3%	1.4% - 2.8%	1.2%
Expected volatility	75.8% - 81.5%	61.5% - 62.7%	61.1%
Expected term (in years)	6.0 - 6.1	5.9 - 6.0	5.9
Expected dividend yield	0.0%	0.0%	0.0%

Risk-Free Interest Rate. The Company bases the risk-free interest rate assumption for equity awards on the rates for U.S. Treasury securities with maturities similar to those of the expected term of the award being valued.

Expected Volatility. Due to the limited trading history of the Company’s Class A common stock, the expected volatility assumption is primarily based on the volatility of a peer group of similar companies whose share prices are publicly available. The Company will continue to apply this process until a sufficient amount of historical information regarding the volatility of the Company’s own stock price becomes available.

Expected Term. Given the insufficient historical data relating to nonqualified stock option exercises, the expected term assumption is based on expected terms of a peer group of similar companies whose expected terms are publicly available. The Company will continue to apply this process until a sufficient amount of historical information regarding the Company’s nonqualified stock option exercises becomes available.

Expected Dividend Yield. The Company’s expected dividend yield assumption is zero as it has never paid dividends and has no present intention to do so in the future.

Issuance of Shares

Upon vesting of shares under the LTIP, the Company will issue treasury stock. If treasury stock is not available, newly issued stock will be issued.

Income Taxes and Tax Receivable Agreement - Schedule of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
U.S. federal income tax	$ 47	$ 0	$ 0
State and local income tax	104	0	0
Foreign income tax	0	0	0
Total current provision	151	0	0
Deferred:
U.S. federal income tax	0	0	0
State and local income tax	0	0	0
Foreign income tax	0	0	0
Total deferred provision	0	0	0
Income tax (benefit) provision	$ 151	$ 0	$ 0

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Property, Equipment and Software (Details)	12 Months Ended
	Dec. 31, 2023
Computer equipment \| Minimum
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Property, equipment and software, estimated useful lives	3 years
Computer equipment \| Maximum
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Property, equipment and software, estimated useful lives	5 years
Purchased software
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Property, equipment and software, estimated useful lives	3 years
Capitalized software development costs
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Property, equipment and software, estimated useful lives	3 years
Furniture, fixtures and office equipment
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Property, equipment and software, estimated useful lives	10 years

Stock-based Compensation - Summary of Nonqualified Stock Option Activity (Details) - Nonqualified Stock Options - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance (shares)	3,661
Granted (shares)	2,229
Canceled (shares)	(117)
Expired (shares)	(35)
Ending balance (shares)	5,736	3,661
Weighted-Average Exercise Price of Options outstanding, beginning balance (dollars per share)	$ 6.14
Weighted average grant date fair value of units, granted (dollars per share)	4.44
Weighted average grant date fair value of units, canceled (dollars per share)	5.79
Weighted average grant date fair value of units, expired (dollars per share)	18.76
Weighted-Average Exercise Price of Options outstanding, ending balance (dollars per share)	$ 5.41	$ 6.14
Weighted-Average Remaining Contractual Term (years)	8 years 7 months 6 days	9 years 2 months 12 days
Aggregate Intrinsic Value (in thousands)	$ 8,807	$ 0
Vested and exercisable (shares)	1,562
Weighted average exercise price, vested and exercisable (dollars per share)	$ 6.03
Weighted average remaining contractual term, vested and exercisable	8 years 1 month 6 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value	$ 1,530

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Basis Of Presentation And Summary Of Significant Accounting Policies [Abstract]

Summary of Changes in Allowance for Doubtful Accounts

The following table presents changes in the allowance for doubtful accounts:


	Year Ended December 31,
	2023		2022
Beginning balance	$	1,015	$	54
Cumulative impact of accounting adoption	209		—
Provision for doubtful accounts	111		1,260
Write-offs, net of recoveries	(138)		(299)
Ending balance	$	1,197	$	1,015

Schedule of Estimated Useful Lives of Property, Equipment and Software


			Years
Computer equipment			3-5
Purchased software			3
Capitalized software development costs			3
Furniture, fixtures and office equipment			10
Leasehold improvements			*

*Leasehold improvements are depreciated on a straight-line basis over the term of the lease, or the useful life of the assets, whichever is shorter.

Schedules of Concentrations of Credit Risk


	Year Ended December 31,
	2023		2022		2021
Advertising Agency Holding Company
A	10.0	%	13.5	%	14.2	%
B	<10.0 %		<10.0 %		15.5	%
Individual Customer
C	14.1	%	<10.0 %		<10.0 %

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenue	$ 222,934	$ 197,168	$ 224,127
Operating expenses:
Platform operations	120,479	116,725	129,604
Sales and marketing	50,650	63,957	65,042
Technology and development	24,756	21,294	25,372
General and administrative	45,345	44,452	46,904
Total operating expenses	241,230	246,428	266,922
Loss from operations	(18,296)	(49,260)	(42,795)
Interest expense (income), net	(8,594)	(1,481)	864
Other expense	90	310	60
Gain on extinguishment of debt	0	0	(6,110)
Total other expense (income), net	(8,504)	(1,171)	(5,186)
Loss before income taxes	(9,792)	(48,089)	(37,609)
Provision for income taxes	151	0	0
Loss before income taxes	(9,943)	(48,089)	(37,609)
Less: Net loss attributable to noncontrolling interests	(6,500)	(36,176)	(29,867)
Net loss attributable to Viant Technology Inc.	$ (3,443)	$ (11,913)	$ (7,742)
Earnings (loss) per Class A common stock:
Basic (dollars per share)	$ (0.23)	$ (0.84)	$ (0.63)
Diluted (dollars per share)	$ (0.23)	$ (0.84)	$ (0.63)
Weighted-average Class A common stock outstanding:
Basic (shares)	15,224,000	14,185,000	12,364,000
Diluted (shares)	15,224,000	14,185,000	12,364,000

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2023	Mar. 01, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-40015
Entity Registrant Name	Viant Technology Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-3447553
Entity Address, Address Line One	2722 Michelson Drive
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92612
City Area Code	949
Local Phone Number	861-8888
Title of 12(b) Security	Class A common stock, par value $0.001 per share
Trading Symbol	DSP
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 68.9
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive Proxy Statement for its 2024 Annual Meeting of Stockholders, which the registrant intends to file pursuant to Regulation 14A with the Securities and Exchange Commission no later than 120 days after the registrant’s fiscal year ended December 31, 2023, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0001828791
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Small Business	true
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		15,796,531
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		47,032,260

Revenue - Summary of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation Of Revenue [Line Items]
Revenue	$ 222,934	$ 197,168	$ 224,127
Over-time revenue
Disaggregation Of Revenue [Line Items]
Revenue	3,364	800	3,880
Point-in-time revenue
Disaggregation Of Revenue [Line Items]
Revenue	$ 219,570	$ 196,368	$ 220,247

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

The Company’s goodwill balance of $12.4 million as of December 31, 2023 and 2022 was recorded as part of the Company’s February 2017 acquisition of Adelphic. The goodwill balance was determined based on the excess of the purchase price over the fair value of the identifiable net assets acquired and represents its future revenue and earnings potential and certain other assets acquired that do not meet the recognition criteria, such as assembled workforce.

Goodwill is tested for impairment at least annually as of the first day of the fourth fiscal quarter, or more frequently if indicators of impairment exist during the fiscal year. Refer to Note 2—Basis of Presentation and Summary of Significant Accounting Policies for additional information. The Company performed an impairment test of its goodwill as of the first day of the fourth fiscal quarter in accordance with the policy. The results of this test indicated that the Company’s goodwill was not impaired. No goodwill impairment was recorded for the years ended December 31, 2023, 2022 or 2021. As of December 31, 2023, there is no accumulated goodwill impairment loss.

Intangible assets primarily consist of acquired developed technology, customer relationships, trade names and trademarks resulting from business combinations and acquired patent intangible assets, which are recorded at acquisition-date fair value, less accumulated amortization. The Company determines the appropriate useful life of its intangible assets by performing an analysis of expected cash flows of the acquired assets. Intangible assets are amortized over their estimated useful lives using a straight-line method, which approximates the pattern in which the economic benefits are consumed. No impairment was recorded for intangible assets or other long-lived assets during the years ended December 31, 2023, 2022 or 2021.

The balances of intangibles assets and accumulated amortization are as follows:


	As of December 31, 2023
	Remaining Weighted- Average Useful Life (years)	Gross Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	0.0	$	4,927	$	(4,927)	$	—
Customer relationships	0.1	2,300		(2,272)		28
Trademarks/tradenames	2.2	1,400		(1,227)		173
Total		$	8,627	$	(8,426)	$	201


	As of December 31, 2022
	Remaining Weighted- Average Useful Life (years)	Gross Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	0.1	$	4,927	$	(4,869)	$	58
Customer relationships	1.1	2,300		(1,944)		356
Trademarks/tradenames	3.2	1,400		(1,147)		253
Total		$	8,627	$	(7,960)	$	667

Amortization of intangible assets recorded in the consolidated statements of operations was as follows:


	Year Ended December 31,
	2023		2022		2021
Platform operations	$	58	$	700	$	700
Sales and marketing	—		—		—
Technology and development	—		—		—
General and administrative	408		419		529
Total	$	466	$	1,119	$	1,229

Estimated future amortization of intangible assets is as follows:


	As of December 31,
Year	2023
2024	$	108
2025	80
2026	13
2027	—
2028	—
Thereafter	—
Total	$	201

Stock-based Compensation - Summary of RSU Activity (Details) - Restricted Stock Units	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
RSUs outstanding, beginning balance (shares) \| shares	3,928
Granted (shares) \| shares	1,843
Vested (shares) \| shares	(1,911)
Canceled/forfeited (shares) \| shares	(213)
RSUs outstanding, ending balance (shares) \| shares	3,647
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted-average grant-date fair value, beginning balance (dollars per share) \| $ / shares	$ 12.59
Granted (dollars per share) \| $ / shares	4.59
Vested (dollars per share) \| $ / shares	17.96
Canceled/forfeited (dollars per share) \| $ / shares	7.38
Weighted-average grant-date fair value, ending balance (dollars per share) \| $ / shares	$ 6.03

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Summary of Accrued Liabilities

The Company’s accrued liabilities consisted of the following:


	As of December 31,
	2023		2022
Accrued traffic acquisition costs	$	34,085	$	29,631
Other accrued liabilities	5,178		5,432
Total accrued liabilities	$	39,263	$	35,063

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net loss	$ (9,943)	$ (48,089)	$ (37,609)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	14,731	13,131	11,141
Stock-based compensation	32,291	28,901	68,822
Provision for (recovery of) doubtful accounts	100	1,260	(107)
Loss on disposal of assets	115	588	188
Gain on extinguishment of debt	0	0	(6,110)
Noncash lease expense	3,952	2,861	0
Changes in operating assets and liabilities:
Accounts receivable	(16,123)	7,821	(20,865)
Prepaid expenses and other assets	(87)	(3,642)	(750)
Accounts payable	10,038	4,215	3,404
Accrued liabilities	4,192	860	9,728
Accrued compensation	1,369	(3,118)	2,319
Deferred revenue	193	(6,428)	(1,786)
Operating lease liabilities	(3,780)	(1,561)	0
Other liabilities	704	(329)	290
Net cash provided by (used in) operating activities	37,752	(3,530)	28,665
Cash flows from investing activities:
Purchases of property and equipment	(1,195)	(758)	(441)
Capitalized software development costs	(12,281)	(8,068)	(6,931)
Net cash used in investing activities	(13,476)	(8,826)	(7,372)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of underwriting discounts	0	0	232,500
Payment of member tax distributions	(10,155)	(15)	(7,289)
Payment of offering costs	0	0	(2,608)
Taxes paid related to net share settlement of equity awards	(4,248)	(2,036)	(15,045)
Repayment of revolving credit facility	0	(17,500)	0
Proceeds from the exercise of stock options	12	0	0
Net cash provided by (used in) financing activities	(14,391)	(19,551)	207,558
Net increase (decrease) in cash and cash equivalents	9,885	(31,907)	228,851
Cash and cash equivalents at beginning of period	206,573	238,480	9,629
Cash and cash equivalents at end of period	216,458	206,573	238,480
Supplemental disclosure of cash flow information:
Cash paid for interest	215	238	660
Supplemental disclosure of non-cash investing and financing activities:
Accrued member tax distributions	4,542	0	5
Operating lease assets obtained in exchange for operating lease liabilities	505	8,307	0
Stock-based compensation included in capitalized software development costs	5,415	4,429	11,017
Capitalized assets financed by accounts payable and accrued liabilities	1,144	503	356
Noncash gain on extinguishment of debt related to Paycheck Protection Program loan	$ 0	$ 0	$ 6,110

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

At the beginning of fiscal 2022, the Company adopted new FASB guidance that requires lessees to record the present value of operating lease payments as right-of-use assets and lease liabilities on the balance sheet. Refer to Note 2—Basis of Presentation and Summary of Significant Accounting Policies for additional information.

Lessee Arrangements

The Company has operating leases for its office space, which have remaining lease terms of up to seven years. The Company does not have finance leases.

Some of these leases include renewal options to extend the leases for up to five years and/or termination options to terminate the leases within one year. If it is reasonably certain that a renewal or termination option will be exercised, the exercise of the option is considered in calculating the term of the lease.

As of December 31, 2023, the Company's operating leases had a weighted-average remaining lease term of approximately seven years and a weighted-average incremental borrowing rate of 3.6%.

As of December 31, 2023, the Company had entered into an operating lease for office space in Michigan with total estimated future lease payments of $0.3 million that had not yet commenced and therefore is not included in the measurement of the operating right-of-use asset and operating lease liability on the consolidated balance sheet. The lease term is expected to commence in the first quarter of fiscal 2024.

Cash paid for amounts included in operating lease liabilities was $4.7 million and $2.3 million for the years ended December 31, 2023 and 2022, respectively.

The components of lease cost were as follows:


	Year Ended December 31,
	2023		2022
Operating lease cost	$	4,896	$	3,669
Short-term lease cost	969		1,399
Variable lease cost	9		124
Total lease cost	$	5,874	$	5,192

As of December 31, 2023, the Company had a remaining contractual obligation of $2.3 million related to a short-term lease to be paid over the following four years. The effective term of this lease is based on the cumulative days available for use throughout the contractual term, which is less than one year. The cost for this lease is included in the disclosure of short-term lease cost. This lease and other of our short-term leases are not recorded on the Company's consolidated balance sheet due to our accounting policy election for short-term leases.

Future minimum lease payments were as follows:


	As of December 31,
Year	2023
2024	$	4,636
2025	4,445
2026	4,353
2027	4,279
2028	3,211
Thereafter	7,800
Total undiscounted future lease payments	28,724
Less: Commitments for leases not yet commenced	(312)
Less: Imputed interest	(2,978)
Present value of operating lease liabilities	25,434
Less: Operating lease liabilities, current	(3,762)
Operating lease liabilities, noncurrent	$	21,672

Goodwill and Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Balances of Intangibles Assets and Accumulated Amortization

The balances of intangibles assets and accumulated amortization are as follows:


	As of December 31, 2023
	Remaining Weighted- Average Useful Life (years)	Gross Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	0.0	$	4,927	$	(4,927)	$	—
Customer relationships	0.1	2,300		(2,272)		28
Trademarks/tradenames	2.2	1,400		(1,227)		173
Total		$	8,627	$	(8,426)	$	201


	As of December 31, 2022
	Remaining Weighted- Average Useful Life (years)	Gross Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	0.1	$	4,927	$	(4,869)	$	58
Customer relationships	1.1	2,300		(1,944)		356
Trademarks/tradenames	3.2	1,400		(1,147)		253
Total		$	8,627	$	(7,960)	$	667

Summary of Amortization Recorded in Consolidated Statements of Operations

Amortization of intangible assets recorded in the consolidated statements of operations was as follows:


	Year Ended December 31,
	2023		2022		2021
Platform operations	$	58	$	700	$	700
Sales and marketing	—		—		—
Technology and development	—		—		—
General and administrative	408		419		529
Total	$	466	$	1,119	$	1,229

Summary of Estimated Future Amortization of Intangible Assets

Estimated future amortization of intangible assets is as follows:


	As of December 31,
Year	2023
2024	$	108
2025	80
2026	13
2027	—
2028	—
Thereafter	—
Total	$	201

Noncontrolling Interests - Additional Information (Details) - shares		12 Months Ended
	Feb. 12, 2021	Dec. 31, 2023	Dec. 31, 2022
Class A Common Stock
Minority Interest [Line Items]
Exchange units for shares of common stock		1
Exchange of noncontrolling interests, shares		50,000	24,870
Class B Units
Minority Interest [Line Items]
Exchange of noncontrolling interests, shares		50,000	24,870
Class B Common Stock
Minority Interest [Line Items]
Exchange (cancellation) of shares		50,000	24,870
Class B Common Stock \| Viant Technology LLC
Minority Interest [Line Items]
Exchange (cancellation) of shares	48,935,559

Goodwill and Intangible Assets, Net - Summary of Amortization Recorded in Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite Lived Intangible Assets [Line Items]
Amortization	$ 466	$ 1,119	$ 1,229
Platform operations
Finite Lived Intangible Assets [Line Items]
Amortization	58	700	700
Sales and marketing
Finite Lived Intangible Assets [Line Items]
Amortization	0	0	0
Technology and development
Finite Lived Intangible Assets [Line Items]
Amortization	0	0	0
General and administrative
Finite Lived Intangible Assets [Line Items]
Amortization	$ 408	$ 419	$ 529

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock-based Compensation

Stock-based compensation recorded in the consolidated statements of operations was as follows:


	Year Ended December 31,
	2023		2022		2021
Platform operations	$	4,104	$	4,761	$	13,096
Sales and marketing	9,729		9,010		25,639
Technology and development	5,752		5,323		12,373
General and administrative	12,706		9,807		17,714
Total	$	32,291	$	28,901	$	68,822

Summary of RSU Activity

The following summarizes RSU activity:


	Number of Shares (in thousands)	Weighted- Average Grant-Date Fair Value
RSUs outstanding as of December 31, 2022	3,928	$	12.59
Granted	1,843	4.59
Vested	(1,911)	17.96
Canceled/forfeited	(213)	7.38
RSUs outstanding as of December 31, 2023	3,647	$	6.03

Summary of Stock Option/Incentive Activity

Nonqualified Stock Options

The following summarizes nonqualified stock option activity:


	Number of Options (in thousands)	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2022	3,661	$	6.14	9.2	$	—
Granted	2,229	4.44
Exercised	(2)	6.00
Canceled	(117)	5.79
Expired	(35)	18.76
Outstanding as of December 31, 2023	5,736	$	5.41	8.6	$	8,807

Vested and exercisable	1,562	$	6.03	8.1	$	1,530

Summary of Assumptions used in Fair Value of Stock Options Granted

The assumptions used in the Black-Scholes model to determine the fair value of nonqualified stock options were as follows:


	Year Ended December 31,
	2023	2022	2021
Risk free interest rate	3.8% - 4.3%	1.4% - 2.8%	1.2%
Expected volatility	75.8% - 81.5%	61.5% - 62.7%	61.1%
Expected term (in years)	6.0 - 6.1	5.9 - 6.0	5.9
Expected dividend yield	0.0%	0.0%	0.0%

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Lease Commitments As of December 31, 2023, we had non-cancelable operating lease commitments for office space that have been recorded as operating lease liabilities. Refer to Note 5—Leases for additional information regarding lease commitments. Hosting Commitments As of December 31, 2023, we had non-cancelable contractual agreements primarily related to the hosting of our data storage processing, storage and other computing services. As of December 31, 2023, we estimate these obligations to be approximately $7.1 million in 2024, $5.9 million in 2025, and $1.5 million in 2026. Legal Matters From time to time, the Company is subject to various legal proceedings and claims, either asserted or unasserted, that arise in the ordinary course of business. Although the outcome of the various legal proceedings and claims cannot be predicted with certainty, management does not believe that any of these proceedings or other claims will have a material effect on the Company’s business, financial condition, results of operations or cash flows. Guarantees and Indemnities The Company has made no significant contractual guarantees for the benefit of third parties. However, in the ordinary course of business, the Company may provide indemnifications of varying scope and terms to customers, vendors, lessors, business partners and other parties with respect to certain matters, including, but not limited to, losses arising out of breach of such agreements, services to be provided by the Company or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with directors and certain officers and employees that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors, officers or employees. The Company is not aware of indemnification claims that could have a material effect on the Company’s consolidated financial statements. Accordingly, no amounts for any obligation have been recorded as of December 31, 2023 and 2022.

Goodwill and Intangible Assets, Net - Summary of Estimated Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 108
2025	80
2026	13
2027	0
2028	0
Thereafter	0
Net Carrying Amount	$ 201	$ 667

Revolving Credit Facility and PPP Loan - Additional Information (Details)			12 Months Ended
	Apr. 14, 2020 USD ($)	Oct. 31, 2019 USD ($)	Dec. 31, 2023 USD ($)
Paycheck Protection Program Loan
Line Of Credit Facility [Line Items]
Proceeds from issuance of debt	$ 6,000,000
Paycheck Protection Program Loan \| Principal Forgiveness
Line Of Credit Facility [Line Items]
Debt instrument forgiveness			$ 6,000,000
Paycheck Protection Program Loan \| Accrued Interest Forgiveness
Line Of Credit Facility [Line Items]
Debt instrument forgiveness			100,000
Revolving Credit Facility
Line Of Credit Facility [Line Items]
Carrying value			$ 0
Loan Agreement \| Revolving Credit Facility \| PNC Bank
Line Of Credit Facility [Line Items]
Senior secured revolving credit facility, maximum borrowing capacity		$ 40,000,000
Facility fee for undrawn amounts		0.375%
Fixed coverage charge ratio			1.40
Undrawn availability			0.25
Loan Agreement \| Revolving Credit Facility \| PNC Bank \| Domestic Rate Loans
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus margin		0.50%
Loan Agreement \| Revolving Credit Facility \| PNC Bank \| Domestic Rate Loans \| Minimum
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus margin		1.00%
Loan Agreement \| Revolving Credit Facility \| PNC Bank \| Domestic Rate Loans \| Maximum
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus margin		1.25%
Loan Agreement \| Revolving Credit Facility \| PNC Bank \| London Interbank Offered Rate (LIBOR) 1
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus margin		1.00%
Loan Agreement \| Revolving Credit Facility \| PNC Bank \| London Interbank Offered Rate (LIBOR) 1 \| Minimum
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus margin		2.00%
Loan Agreement \| Revolving Credit Facility \| PNC Bank \| London Interbank Offered Rate (LIBOR) 1 \| Maximum
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus margin		2.25%

Income Taxes and Tax Receivable Agreement (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes attributable to the Company was as follows:


	Year Ended December 31,
	2023		2022		2021
Current:
U.S. federal income tax	$	47	$	—	$	—
State and local income tax	104		—		—
Foreign income tax	—		—		—
Total current provision	151		—		—
Deferred:
U.S. federal income tax	—		—		—
State and local income tax	—		—		—
Foreign income tax	—		—		—
Total deferred provision	—		—		—
Income tax (benefit) provision	$	151	$	—	$	—

Schedule of Effective Income Tax Rate Reconciliation


	Year Ended December 31,
	2023		2022		2021
Income tax benefit (expense) at federal statutory rate	21.0	%	21.0	%	21.0	%
Income passed through to noncontrolling interests	(13.7)	%	(15.8)	%	(16.7)	%
State and local taxes, net of federal benefit	1.2	%	0.8	%	0.6	%
Permanent items	(1.7)	%	(0.3)	%	0.7	%
Stock-based compensation	(14.6)	%	(2.9)	%	(3.2)	%
Credits	3.3	%	0.8	%	—	%
Uncertain tax position	(1.4)	%	—	%	—	%
Other, net	(2.2)	%	0.9	%	—	%
Valuation allowance	6.6	%	(4.5)	%	(2.4)	%
Total effective rate	(1.5)	%	0.0	%	0.0	%

Significant Portion of Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of temporary differences that give rise to a significant portion of the deferred tax assets and deferred tax liabilities are as follows:


	Year Ended December 31,
	2023		2022		2021
Deferred tax assets:
Net operating loss carryforwards	$	1,513	$	2,561	$	1,321
Tax credits	642		800		—
Investment in Partnership	8,524		7,866		7,909
Other, net	238		253		108
Subtotal	10,917		11,480		9,338
Valuation allowance	(10,917)		(11,480)		(9,338)
Total deferred tax assets	—		—		—

Deferred tax liabilities:
Other, net	—		—		—
Total deferred tax liabilities	—		—		—
Net deferred tax (liabilities) assets	$	—	$	—	$	—

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending balance of total gross unrecognized tax benefits is as follows:


	As of December 31,
	2023		2022
Beginning balance of unrecognized tax benefits	$	—	$	—
Gross increase based on tax positions related to current year	55		—
Gross increase based on tax positions related to prior years	103		—
Ending balance of unrecognized tax benefits	$	158	$	—

Property, Equipment and Software, Net - Schedule of Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Depreciation	$ 14,265	$ 12,012	$ 9,912
Platform operations
Property Plant And Equipment [Line Items]
Depreciation	12,129	9,786	7,688
Sales and marketing
Property Plant And Equipment [Line Items]
Depreciation	0	0	0
Technology and development
Property Plant And Equipment [Line Items]
Depreciation	1,559	1,646	1,599
General and administrative
Property Plant And Equipment [Line Items]
Depreciation	$ 577	$ 580	$ 625

Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Net Earnings (Loss) Per Share/Unit


	Year Ended December 31,
	2023		2022		2021
Numerator
Net loss	$	(9,943)	$	(48,089)	$	(37,609)
Less: Net loss attributable to noncontrolling interests	(6,500)		(36,176)		(29,867)
Net loss attributable to Viant Technology Inc.	$	(3,443)	$	(11,913)	$	(7,742)
Denominator
Weighted-average shares of Class A common stock outstanding—basic and diluted	15,224		14,185		12,364

Loss per share of Class A common stock—basic	$	(0.23)	$	(0.84)	$	(0.63)
Loss per share of Class A common stock—diluted	$	(0.23)	$	(0.84)	$	(0.63)

Anti-dilutive shares excluded from loss per share of Class A common stock—diluted:
Restricted stock units	3,647		3,928		3,033
Nonqualified stock options	5,736		3,661		220
Shares of Class B common stock	47,032		47,082		47,107
Total shares excluded from loss per share of Class A common stock—diluted	56,415		54,671		50,360

Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued traffic acquisition costs	$ 34,085	$ 29,631
Other accrued liabilities	5,178	5,432
Total accrued liabilities	$ 39,263	$ 35,063

Property, Equipment and Software, Net - Schedule of Major Classes of Property, Equipment and Software (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Total property, equipment, and software	$ 96,084	$ 77,933
Less: Accumulated depreciation	(67,823)	(54,827)
Total property, equipment, and software, net	28,261	23,106
Capitalized software development costs
Property Plant And Equipment [Line Items]
Total property, equipment, and software	90,803	72,988
Computer equipment
Property Plant And Equipment [Line Items]
Total property, equipment, and software	1,449	1,116
Purchased software
Property Plant And Equipment [Line Items]
Total property, equipment, and software	32	32
Furniture, fixtures and office equipment
Property Plant And Equipment [Line Items]
Total property, equipment, and software	977	1,226
Leasehold improvements
Property Plant And Equipment [Line Items]
Total property, equipment, and software	$ 2,823	$ 2,571

Noncontrolling Interests - Summary of Effect of Changes in Ownership Interest in Viant Technology LLC on Equity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Noncontrolling Interest [Abstract]
Net loss attributable to Viant Technology Inc.	$ (3,443)	$ (11,913)	$ (7,742)
Transfers to noncontrolling interests:
Decrease in the additional-paid-in-capital of Viant Technology Inc. resulting from ownership changes in Viant Technology LLC	(6,112)	(20,284)	(44,361)
Change from net loss attributable to Viant Technology Inc. and transfers to noncontrolling interests	$ (9,555)	$ (32,197)	$ (52,103)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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