0001828791-24-000041 | 10-Q | XBRL Viewer

Accrued Liabilities (Tables)

6 Months Ended

Jun. 30, 2024

The Company’s accrued liabilities consisted of the following:


	As of June 30,		As of December 31,
	2024		2023
Accrued traffic acquisition costs	$	31,013	$	34,085
Other accrued liabilities	5,266		5,178
Total accrued liabilities	$	36,279	$	39,263

Leases

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

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 June 30, 2024, the Company's operating leases had a weighted-average remaining lease term of approximately six years and a weighted-average incremental borrowing rate of 4.0%.

As of June 30, 2024, the Company had entered into an operating lease with total estimated future lease payments of $1.8 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 as of June 30, 2024. The lease term is expected to commence in the third quarter of fiscal 2024.

Cash paid for amounts included in the operating lease liabilities was $1.2 million and $2.4 million for the three and six months ended June 30, 2024, respectively, and $1.2 and $2.2 million for the three and six months ended June 30, 2023, respectively.

The components of lease cost were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease cost	$	1,203	$	1,200	$	2,456	$	2,421
Short-term lease cost	8		81		48		341
Variable lease cost	—		—		—		9
Total lease cost	$	1,211	$	1,281	$	2,504	$	2,771

As of June 30, 2024, the Company had a remaining contractual obligation of $1.8 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 condensed consolidated balance sheet due to our accounting policy election for short-term leases.

Future minimum lease payments were as follows:

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2024	Aug. 09, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
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
Name of each exchange on which registered	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Small Business	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001828791
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		16,264,415
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		46,934,667

Intangible Assets, Net - Summary of Balances of Intangibles Assets and Accumulated Amortization (Details) - USD ($) $ in Thousands	6 Months Ended	9 Months Ended
	Jun. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Gross Amount	$ 8,627		$ 8,627
Accumulated Amortization	(8,494)		(8,426)
Net Carrying Amount	133		201
Developed technology
Finite Lived Intangible Assets [Line Items]
Gross Amount	4,927		4,927
Accumulated Amortization	(4,927)		(4,927)
Net Carrying Amount	0		0
Customer relationships
Finite Lived Intangible Assets [Line Items]
Remaining Weighted-Average Useful Life (years)		1 month 6 days
Gross Amount	2,300		2,300
Accumulated Amortization	(2,300)		(2,272)
Net Carrying Amount	$ 0		28
Trademarks/tradenames
Finite Lived Intangible Assets [Line Items]
Remaining Weighted-Average Useful Life (years)	1 year 8 months 12 days	2 years 2 months 12 days
Gross Amount	$ 1,400		1,400
Accumulated Amortization	(1,267)		(1,227)
Net Carrying Amount	$ 133		$ 173

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Commitments and Contingencies - Additional Information (Details) $ in Millions	Jun. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Contractual obligations, remainder of 2023	$ 6.8
Contractual obligation, to be paid 2024	12.4
Contractual obligation, to be paid 2025	7.5
Contractual obligation, to be paid 2026	$ 2.0

Leases - Summary of Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Remainder of 2024	$ 2,855
2025	5,550
2026	5,399
2027	5,449
2028	4,117
Thereafter	8,181
Total undiscounted future lease payments	31,551
Less: Commitments for leases not yet commenced	1,778
Less: Imputed interest	(3,180)
Present value of operating lease liabilities	26,593
Less: Operating lease liabilities, current	(4,063)	$ (3,762)
Long-term portion of operating lease liabilities	$ 22,530	$ 21,672

Accrued Liabilities

6 Months Ended

Jun. 30, 2024

Payables and Accruals [Abstract]

Accrued Liabilities

The Company’s accrued liabilities consisted of the following:


	As of June 30,		As of December 31,
	2024		2023
Accrued traffic acquisition costs	$	31,013	$	34,085
Other accrued liabilities	5,266		5,178
Total accrued liabilities	$	36,279	$	39,263

As of June 30, 2024 and December 31, 2023, the Company had a balance of $0.6 million and $0.3 million, respectively, payable to related parties for expenses such related parties incurred on the Company's behalf, which was recorded within accrued liabilities on the condensed consolidated balance sheets. The related expense incurred by the Company was $0.4 million and $0.6 million for the three and six months ended June 30, 2024, respectively, and $0.1 million and $0.4 million for the three and six months ended June 30, 2023, respectively.

Income Taxes and Tax Receivable Agreement	6 Months Ended
Income Taxes and Tax Receivable Agreement	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes and Tax Receivable Agreement	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. The Company recognized an income tax expense of $0.1 million attributable to the excess tax benefits on vested stock-based compensation that will no longer be realized due to the Company's expected tax loss for the current year and its full valuation allowance. As a result, the Company's effective tax rate was 6.2% and 0.0% for the three and six months ended June 30, 2024, respectively. The Company did not recognize an income tax expense or benefit for the three and six months ended June 30, 2023, which resulted in an effective tax rate of 0.0%. As of June 30, 2024, management determined based on applicable accounting standards and the weight of all available evidence, it was not more likely than not (“MLTN”) that the Company will generate sufficient taxable income to realize its deferred tax assets including the difference in tax basis in excess of the financial reporting value for its investment in Viant Technology LLC. Consequently, the Company has established a full valuation allowance against its deferred tax assets as of June 30, 2024. In the event that management subsequently determines that it is MLTN that the Company will realize its deferred tax assets in the future over the recorded amount, a decrease to the valuation allowance will be made, which will reduce the provision for income taxes. The Company has concluded based on applicable accounting standards and the weight of all available evidence, that it was MLTN that its deferred tax assets subject to the Tax Receivable Agreement ("TRA") entered into with Viant Technology LLC, continuing members of Viant Technology LLC and the TRA Representative (as defined in the TRA) on February 9, 2021 would not be realized as of June 30, 2024. Therefore, the Company has not recorded a liability related to the remaining tax savings it may realize from utilization of such deferred tax assets after concluding it was not probable that such TRA liability would be paid based on its estimates of future taxable income. As of June 30, 2024, the total unrecorded TRA liability is approximately $10.3 million. If utilization of the deferred tax assets subject to the TRA becomes MLTN in the future, the Company will record a liability related to the TRA, to the extent probable at that time, which will be recognized as an expense within its condensed consolidated statements of operations.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

Property, Equipment and Software, Net

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Equipment and Software, Net

Property, Equipment, and Software, Net

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


	As of June 30,		As of December 31,
	2024		2023
Capitalized software development costs	$	94,007	$	90,803
Computer equipment	1,687		1,449
Purchased software	37		32
Furniture, fixtures and office equipment	1,090		977
Leasehold improvements	3,795		2,823
Total property, equipment, and software	100,616		96,084
Less: Accumulated depreciation	(70,670)		(67,823)
Total property, equipment, and software, net	$	29,946	$	28,261

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Platform operations	$	3,531	$	2,910	$	7,057	$	5,622
Sales and marketing	—		—		—		—
Technology and development	440		383		871		776
General and administrative	176		144		317		291
Total	$	4,147	$	3,437	$	8,245	$	6,689

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

6 Months Ended

Jun. 30, 2024

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 for the three and six months ended June 30, 2024:


	(in thousands)
Balance as of December 31, 2023	$	1,197
Provision for doubtful accounts	(87)
Write-offs, net of recoveries	—
Balance as of March 31, 2024	$	1,110
Provision for doubtful accounts	55
Write-offs, net of recoveries	—
Balance as of June 30, 2024	$	1,165

Loss Per Share - Calculation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator
Net loss	$ 1,488	$ (3,203)	$ (1,726)	$ (12,579)
Less: Net income (loss) attributable to noncontrolling interests	1,433	(2,140)	(834)	(9,036)
Net loss attributable to Viant Technology Inc.	$ 55	$ (1,063)	$ (892)	$ (3,543)
Weighted-average shares of Class A common stock outstanding:
Weighted-average shares of Class A common stock outstanding—basic (shares)	16,480,000	15,135,000	16,214,000	14,943,000
Weighted-average shares of Class A common stock outstanding—diluted (shares)	19,235,000	15,135,000	16,214,000	14,943,000
Basic (USD per share)	$ 0.00	$ (0.07)	$ (0.05)	$ (0.24)
Diluted (USD per share)	$ 0.00	$ (0.07)	$ (0.05)	$ (0.24)
Anti-dilutive shares excluded from loss per share of Class A common stock—diluted:
Total shares excluded from loss per share of Class A common stock—diluted (shares)	46,985,000	57,085,000	57,243,000	57,085,000
Class A Common Stock
Weighted-average shares of Class A common stock outstanding:
Weighted-average shares of Class A common stock outstanding—basic (shares)	16,480,000	15,135,000	16,214,000	14,943,000
Weighted-average shares of Class A common stock outstanding—diluted (shares)	19,235,000	15,135,000	16,214,000	14,943,000
Class B Common Stock
Anti-dilutive shares excluded from loss per share of Class A common stock—diluted:
Total shares excluded from loss per share of Class A common stock—diluted (shares)	46,985,000	47,082,000	46,985,000	47,082,000
Restricted Stock Units
Anti-dilutive shares excluded from loss per share of Class A common stock—diluted:
Total shares excluded from loss per share of Class A common stock—diluted (shares)	0	4,240,000	4,418,000	4,240,000
Restricted Stock Units \| Class A Common Stock
Anti-dilutive shares excluded from loss per share of Class A common stock—diluted:
Total shares excluded from loss per share of Class A common stock—diluted (shares)	1,301,000	0	0	0
Nonqualified Stock Options
Anti-dilutive shares excluded from loss per share of Class A common stock—diluted:
Total shares excluded from loss per share of Class A common stock—diluted (shares)	0	5,763,000	5,840,000	5,763,000
Nonqualified Stock Options \| Class A Common Stock
Anti-dilutive shares excluded from loss per share of Class A common stock—diluted:
Total shares excluded from loss per share of Class A common stock—diluted (shares)	1,454,000	0	0	0

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024
Lessee Lease Description [Line Items]
Operating leases for office space remaining lease terms	7 years		7 years
Operating lease weighted average remaining lease term	6 years		6 years
Operating lease weighted average incremental borrowing rate	4.00%		4.00%
Cash paid for amounts included in operating lease liabilities	$ 1.2	$ 1.2
Remaining contractual obligation, short-term leases	$ 1.8		$ 1.8
Remaining lease term, short-term leases	4 years		4 years
Cumulative days available for use (less than)			1 year
Maximum
Lessee Lease Description [Line Items]
Lessee operating lease renewal term	5 years		5 years

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)	Total	Cumulative Effect, Period of Adoption, Adjusted Balance	Accounting Standards Update 2016-13	Class A Common Stock	Class B Common Stock	Common Stock Class A Common Stock	Common Stock Class A Common Stock Cumulative Effect, Period of Adoption, Adjusted Balance	Common Stock Class B Common Stock	Common Stock Class B Common Stock Cumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-In Capital	Additional Paid-In Capital Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Deficit Accounting Standards Update 2016-13	Treasury Stock	Treasury Stock Cumulative Effect, Period of Adoption, Adjusted Balance	Noncontrolling Interests	Noncontrolling Interests Cumulative Effect, Period of Adoption, Adjusted Balance
Beginning balance (shares) at Dec. 31, 2022						14,784,000	14,784,000	47,082,000	47,082,000
Beginning balance at Dec. 31, 2022	$ 265,768,000	$ 265,559,000	$ (209,000)			$ 15,000	$ 15,000	$ 47,000	$ 47,000	$ 95,922,000	$ 95,922,000	$ (36,261,000)	$ (36,470,000)	$ (209,000)	$ (475,000)	$ (475,000)	$ 206,520,000	$ 206,520,000
Beginning balance, treasury stock (shares) at Dec. 31, 2022															(140,000)	(140,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock in connection with equity-based compensation plans (shares)						814,000
Issuance of Class A common stock related to vesting of restricted stock units	0					$ 1,000				(1,000)
Repurchase of treasury shares in connection with the taxes paid related to net share settlement of equity awards (shares)															(533,000)
Repurchase of treasury stock related to tax withholdings on vested equity awards	2,222,000														$ 2,222,000
Reissuance of treasury stock in connection with equity-based compensation plans (shares)															417,000
Reissuance of treasury stock	0											(1,623,000)			$ 1,623,000
Allocation of equity to noncontrolling interests										(6,333,000)							6,333,000
Accrued member tax distributions	(5,625,000)									(5,625,000)
Stock-based compensation	18,922,000									18,922,000
Net loss	(12,579,000)											(3,543,000)					(9,036,000)
Ending balance (shares) at Jun. 30, 2023						15,598,000		47,082,000
Ending balance at Jun. 30, 2023	264,055,000					$ 16,000		$ 47,000		102,885,000		(41,636,000)			$ (1,074,000)		203,817,000
Ending balance, treasury stock (shares) at Jun. 30, 2023															(256,000)
Beginning balance (shares) at Mar. 31, 2023						15,444,000		47,082,000
Beginning balance at Mar. 31, 2023	262,013,000					$ 15,000		$ 47,000		100,942,000		(39,425,000)			$ (1,567,000)		202,001,000
Beginning balance, treasury stock (shares) at Mar. 31, 2023															(379,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock in connection with equity-based compensation plans (shares)						154,000
Repurchase of treasury shares in connection with the taxes paid related to net share settlement of equity awards (shares)															(154,000)
Repurchase of treasury stock related to tax withholdings on vested equity awards	655,000														$ 655,000
Reissuance of treasury stock in connection with equity-based compensation plans (shares)															277,000
Reissuance of treasury stock	0											(1,148,000)			$ 1,148,000
Allocation of equity to noncontrolling interests										(3,956,000)							3,956,000
Accrued member tax distributions	(4,151,000)									(4,151,000)
Stock-based compensation	10,050,000									10,050,000
Net loss	(3,203,000)											(1,063,000)					(2,140,000)
Ending balance (shares) at Jun. 30, 2023						15,598,000		47,082,000
Ending balance at Jun. 30, 2023	264,055,000					$ 16,000		$ 47,000		102,885,000		(41,636,000)			$ (1,074,000)		203,817,000
Ending balance, treasury stock (shares) at Jun. 30, 2023															(256,000)
Beginning balance (shares) at Dec. 31, 2023						15,938,000		47,032,000
Beginning balance at Dec. 31, 2023	$ 274,389,000					$ 16,000		$ 47,000		112,830,000		(43,509,000)			$ (1,127,000)		206,132,000
Beginning balance, treasury stock (shares) at Dec. 31, 2023	(153,875)														(154,000)
Ending balance (shares) at Mar. 31, 2024						16,980,000		46,985,000
Ending balance at Mar. 31, 2024	$ 270,456,000					$ 17,000		$ 47,000		116,571,000		(45,589,000)			$ (5,458,000)		204,868,000
Ending balance, treasury stock (shares) at Mar. 31, 2024															(539,000)
Beginning balance (shares) at Dec. 31, 2023						15,938,000		47,032,000
Beginning balance at Dec. 31, 2023	$ 274,389,000					$ 16,000		$ 47,000		112,830,000		(43,509,000)			$ (1,127,000)		206,132,000
Beginning balance, treasury stock (shares) at Dec. 31, 2023	(153,875)														(154,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange of Class B common stock for Class A common stock (shares)						47,000		(47,000)
Issuance of Class A common stock in connection with equity-based compensation plans (shares)						1,177,000
Issuance of Class A common stock related to vesting of restricted stock units	$ 0					$ 1,000				(1,000)
Issuance of Class A common stock in connection with exercise of stock options (shares)						8,000
Exercise of stock options	40,000									40,000
Repurchase of treasury shares in connection with the taxes paid related to net share settlement of equity awards (shares)															(736,000)
Repurchase of treasury stock related to tax withholdings on vested equity awards	7,299,000														$ 7,299,000
Repurchase of treasury stock related to the stock repurchase program (shares)															573,000
Repurchase of treasury stock related to the stock repurchase program	5,480,000														$ 5,480,000
Reissuance of treasury stock in connection with equity-based compensation plans (shares)															668,000
Reissuance of treasury stock	1,567,000											(4,761,000)			$ 6,328,000
Allocation of equity to noncontrolling interests										(3,580,000)							3,580,000
Accrued member tax distributions	(628,000)									(628,000)
Stock-based compensation	11,079,000									11,079,000
Net loss	(1,726,000)											(892,000)					(834,000)
Ending balance (shares) at Jun. 30, 2024						17,170,000		46,985,000
Ending balance at Jun. 30, 2024	$ 271,942,000					$ 17,000		$ 47,000		119,740,000		(49,162,000)			$ (7,578,000)		208,878,000
Ending balance, treasury stock (shares) at Jun. 30, 2024	(795,330)														(795,000)
Beginning balance (shares) at Mar. 31, 2024						16,980,000		46,985,000
Beginning balance at Mar. 31, 2024	$ 270,456,000					$ 17,000		$ 47,000		116,571,000		(45,589,000)			$ (5,458,000)		204,868,000
Beginning balance, treasury stock (shares) at Mar. 31, 2024															(539,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock in connection with equity-based compensation plans (shares)						190,000
Repurchase of treasury shares in connection with the taxes paid related to net share settlement of equity awards (shares)															(190,000)
Repurchase of treasury stock related to tax withholdings on vested equity awards	$ 1,773,000														$ 1,773,000
Repurchase of treasury stock related to the stock repurchase program (shares)	573,000			573,000	0										573,000
Repurchase of treasury stock related to the stock repurchase program	$ 5,480,000			$ 5,480,000	$ 0										$ 5,480,000
Reissuance of treasury stock in connection with equity-based compensation plans (shares)															507,000
Reissuance of treasury stock	1,505,000											(3,628,000)			$ 5,133,000
Allocation of equity to noncontrolling interests										(2,577,000)							2,577,000
Accrued member tax distributions	(448,000)									(448,000)
Stock-based compensation	6,194,000									6,194,000
Net loss	1,488,000											55,000					1,433,000
Ending balance (shares) at Jun. 30, 2024						17,170,000		46,985,000
Ending balance at Jun. 30, 2024	$ 271,942,000					$ 17,000		$ 47,000		$ 119,740,000		$ (49,162,000)			$ (7,578,000)		$ 208,878,000
Ending balance, treasury stock (shares) at Jun. 30, 2024	(795,330)														(795,000)

Nature of Operations - Additional Information (Details) - shares	Jun. 30, 2024	Dec. 31, 2023
Nature Of Operations [Line Items]
Preferred stock, shares authorized (shares)	10,000,000	10,000,000
Class A Common Stock
Nature Of Operations [Line Items]
Common stock, shares authorized (shares)	450,000,000	450,000,000
Class B Common Stock
Nature Of Operations [Line Items]
Common stock, shares authorized (shares)	150,000,000	150,000,000

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease cost	$ 1,203	$ 1,200	$ 2,456	$ 2,421
Short-term lease cost	8	81	48	341
Variable lease cost	0	0	0	9
Total lease cost	$ 1,211	$ 1,281	$ 2,504	$ 2,771

Stock-Based Compensation - Additional Information (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected dividend yield assumption	0.00%		0.00%	0.00%	0.00%
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	203	2,312
Unrecognized stock-based compensation expected to be recognized	$ 30.2			$ 30.2
Unrecognized stock-based compensation expected to be recognized over a weighted-average period				2 years 2 months 12 days
Nonqualified Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expected to be recognized	$ 10.6			$ 10.6
Unrecognized stock-based compensation expected to be recognized over a weighted-average period				1 year 8 months 12 days
LTIP \| Class A Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares remained available for grant	5,800			5,800

Basis of Presentation and Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2024

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

The accompanying unaudited condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information which are unaudited 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.

Management believes that the accompanying condensed consolidated financial statements reflect the adjustments necessary for the fair statement of its condensed consolidated balance sheets, statements of operations, and cash flows included in this report. The condensed consolidated balance sheet as of December 31, 2023 was derived from the audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. Certain information and disclosures normally included in the Company's consolidated financial statements prepared in accordance with GAAP have been omitted. Accordingly, these condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes included in its Annual Report on Form 10-K for the year ended December 31, 2023.

The condensed consolidated statements of operations for the three and six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024 (“fiscal 2024”), or for any other future annual or interim period.

There have been no material changes to the significant accounting policies as described in the Company's Annual Report on Form 10-K for the year ended December 31, 2023.

Use of Estimates

The preparation of our condensed 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 condensed 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, high 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)

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

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. As of June 30, 2024, cash equivalents included money market funds of $192.9 million.

Accounts Receivable, Net of Allowances

The following table presents changes in the allowance for doubtful accounts for the three and six months ended June 30, 2024:


	(in thousands)
Balance as of December 31, 2023	$	1,197
Provision for doubtful accounts	(87)
Write-offs, net of recoveries	—
Balance as of March 31, 2024	$	1,110
Provision for doubtful accounts	55
Write-offs, net of recoveries	—
Balance as of June 30, 2024	$	1,165

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 June 30, 2024, one individual customer accounted for 15.0% of consolidated accounts receivable. As of December 31, 2023, one individual customer accounted for 17.9% of consolidated accounts receivable.

As of June 30, 2024, two individual suppliers accounted for 17.0% and 12.7%, respectively, of consolidated accounts payable and accrued liabilities. 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.

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:


	Three Months Ended June 30,			Six Months Ended June 30,
	2024	2023		2024		2023
Advertising Agency Holding Company
A	<10.0%	<10.0%		12.0	%	<10.0%

Individual Customer
B	<10.0%	<10.0%		10.3	%	<10.0%
C	<10.0%	18.4	%	<10.0%		12.2	%

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 of 1933, as amended (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 Securities and Exchange Commission (“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 condensed 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

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. This ASU is not expected to have a material impact on the Company's condensed consolidated financial statements.

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. This ASU is not expected to have a material impact on the Company's condensed consolidated financial statements.

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

Financial Instruments—Credit Losses

In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update ("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 the fiscal year ended December 31, 2023 ("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 condensed consolidated financial statements.

Income Taxes and Tax Receivable Agreement - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
U.S. statutory federal income tax rate			21.00%
Provision for income taxes	$ 99	$ 0	$ 0	$ 0
Effective tax rate	6.20%	0.00%	0.00%
TRA liability			$ 10,300

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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+ Details

Noncontrolling Interests

6 Months Ended

Jun. 30, 2024

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 limited liability company agreement of Viant Technology LLC, as amended and restated (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 June 30, 2024			As of December 31, 2023
Owner	Units Owned	Ownership Percentage		Units Owned	Ownership Percentage
Viant Technology Inc.	16,375,138	25.8	%	15,783,941	25.1	%
Noncontrolling interests	46,984,667	74.2	%	47,032,260	74.9	%
Total	63,359,805	100.0	%	62,816,201	100.0	%

During the three and six months ended June 30, 2024, noncontrolling interests exchanged 158 and 47,593 Class B shares of Viant Technology LLC, respectively, for 158 and 47,593 shares of the Company’s Class A common stock, respectively, which also resulted in the cancellation of 158 and 47,593 Class B shares, respectively, that were 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 periods indicated:

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Preferred stock, par value (USD per share)	$ 0.001	$ 0.001
Preferred stock, shares outstanding (shares)	0	0
Preferred stock, shares issued (shares)	0	0
Treasury stock, shares (shares)	795,330	153,875
Class A Common Stock
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized (shares)	450,000,000	450,000,000
Common stock	$ 17	$ 16
Common stock, shares issued (shares)	17,170,468	15,937,816
Common stock, shares outstanding (shares)	16,375,138	15,783,941
Class B Common Stock
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized (shares)	150,000,000	150,000,000
Common stock	$ 47	$ 47
Common stock, shares issued (shares)	46,984,667	47,032,260
Common stock, shares outstanding (shares)	46,984,667	47,032,260

Revenue - Summary of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation Of Revenue [Line Items]
Revenue	$ 65,866	$ 57,223	$ 119,259	$ 98,943
Over-time revenue
Disaggregation Of Revenue [Line Items]
Revenue	1,469	783	2,427	1,169
Point-in-time revenue
Disaggregation Of Revenue [Line Items]
Revenue	$ 64,397	$ 56,440	$ 116,832	$ 97,774

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- 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.

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+ Details

Revolving Credit Facility	6 Months Ended
Revolving Credit Facility	Jun. 30, 2024
Debt Disclosure [Abstract]
Revolving Credit Facility	Revolving Credit Facility 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 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 June 30, 2024 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 is less than 25%. As of June 30, 2024, the Company was in compliance with all applicable covenants under the Amended Loan Agreement.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Loss Per Share	6 Months Ended
Loss Per Share	Jun. 30, 2024
Earnings Per Share [Abstract]
Loss Per Share	Loss) Per Share For the three and six months ended June 30, 2024 and 2023, basic earnings (loss) per share has been calculated by dividing net income (loss) attributable to Class A common stockholders 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 earnings (loss) per share has been calculated in a manner consistent with that of basic earnings (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 earnings (loss) per share for the periods presented:

Loss Per Share (Tables)	6 Months Ended
Loss Per Share (Tables)	Jun. 30, 2024
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Net Loss Per Share	The following table presents the calculation of basic and diluted earnings (loss) per share for the periods presented:

Property, Equipment and Software, Net (Tables)

6 Months Ended

Jun. 30, 2024

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 June 30,		As of December 31,
	2024		2023
Capitalized software development costs	$	94,007	$	90,803
Computer equipment	1,687		1,449
Purchased software	37		32
Furniture, fixtures and office equipment	1,090		977
Leasehold improvements	3,795		2,823
Total property, equipment, and software	100,616		96,084
Less: Accumulated depreciation	(70,670)		(67,823)
Total property, equipment, and software, net	$	29,946	$	28,261

Schedule of Depreciation

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Platform operations	$	3,531	$	2,910	$	7,057	$	5,622
Sales and marketing	—		—		—		—
Technology and development	440		383		871		776
General and administrative	176		144		317		291
Total	$	4,147	$	3,437	$	8,245	$	6,689

Stock-Based Compensation - Summary of Assumptions used in Black-Scholes Model to Determine Fair Value of Nonqualified Stock Options Granted (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Minimum
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Risk free interest rate	4.10%	4.30%	4.10%	4.30%
Expected volatility	74.40%	81.50%	74.40%	81.50%
Expected term (in years)		6 years		6 years
Maximum
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Expected term (in years)	5 years 9 months 18 days		5 years 9 months 18 days

Intangible Assets, Net - Summary of Amortization of Intangible Assets Recorded in Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 20	$ 102	$ 68	$ 262
Platform operations
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	0	0	0	58
Sales and marketing
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	0	0	0	0
Technology and development
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	0	0	0	0
General and administrative
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 20	$ 102	$ 68	$ 204

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Property, Equipment and Software, Net - Schedule of Major Classes of Property, Equipment and Software (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Total property, equipment, and software	$ 100,616	$ 96,084
Less: Accumulated depreciation	(70,670)	(67,823)
Total property, equipment, and software, net	29,946	28,261
Capitalized software development costs
Property Plant And Equipment [Line Items]
Total property, equipment, and software	94,007	90,803
Computer equipment
Property Plant And Equipment [Line Items]
Total property, equipment, and software	1,687	1,449
Purchased software
Property Plant And Equipment [Line Items]
Total property, equipment, and software	37	32
Furniture, fixtures and office equipment
Property Plant And Equipment [Line Items]
Total property, equipment, and software	1,090	977
Leasehold improvements
Property Plant And Equipment [Line Items]
Total property, equipment, and software	$ 3,795	$ 2,823

Stock-Based Compensation - Summary of Nonqualified Stock Option Activity (Details) - Nonqualified Stock Options - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Number of Options outstanding, beginning balance (shares)	6,135,000	5,736,000	5,736,000
Granted (shares)		516,000
Exercised (shares)	(278,000)	(17,000)
Canceled (shares)	(13,000)	(97,000)
Expired (shares)	(4,000)	(3,000)
Number of Options outstanding, ending balance (shares)	5,840,000	6,135,000	5,840,000	5,736,000
Vested and exercisable (shares)	3,036,000		3,036,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted-Average Exercise Price of outstanding, beginning balance (USD per share)	$ 5.78	$ 5.41	$ 5.41
Granted (USD per share)		9.92	6.67
Exercised (USD per share)	5.41	6.04
Canceled (USD per share)	5.46	5.62
Expired (USD per share)	11.95	13.70
Weighted-Average Exercise Price of outstanding, ending balance (USD per share)	5.79	$ 5.78	5.79	$ 5.41
Vested and exercisable (USD per share)	$ 5.45		$ 5.45
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term [Abstract]
Weighted-Average Remaining Contractual Term (years)	8 years 1 month 6 days	8 years 3 months 18 days		8 years 7 months 6 days
Weighted-Average Remaining Contractual Term of Options, Vested and exercisable			7 years 10 months 24 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Aggregate Intrinsic Value [Abstract]
Aggregate Intrinsic Value	$ 23,942	$ 30,031	$ 23,942	$ 8,807
Aggregate Intrinsic Value, Vested and exercisable	$ 13,492		$ 13,492

Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Components of Lease Expense

The components of lease cost were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease cost	$	1,203	$	1,200	$	2,456	$	2,421
Short-term lease cost	8		81		48		341
Variable lease cost	—		—		—		9
Total lease cost	$	1,211	$	1,281	$	2,504	$	2,771

Summary of Future Minimum Lease Payments

Future minimum lease payments were as follows:

Stock-Based Compensation - Summary of Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 5,537	$ 8,529	$ 9,977	$ 16,001
Platform operations
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	554	1,124	960	2,016
Sales and marketing
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,139	2,520	1,894	5,032
Technology and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	651	1,507	1,151	2,834
General and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 3,193	$ 3,378	$ 5,972	$ 6,119

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock-based Compensation

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Platform operations	$	554	$	1,124	$	960	$	2,016
Sales and marketing	1,139		2,520		1,894		5,032
Technology and development	651		1,507		1,151		2,834
General and administrative	3,193		3,378		5,972		6,119
Total	$	5,537	$	8,529	$	9,977	$	16,001

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, 2023	3,647	$	6.03
Granted	2,312	9.24
Vested	(1,138)	5.88
Canceled/forfeited	(137)	9.22
RSUs outstanding as of March 31, 2024	4,684	7.56
Granted	203	9.42
Vested	(419)	8.42
Canceled/forfeited	(50)	7.46
RSUs outstanding as of June 30, 2024	4,418	$	7.56

Summary of Nonqualified Stock Option Activity

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, 2023	5,736	$	5.41	8.6	$	8,807
Granted	516	9.92
Exercised	(17)	6.04
Canceled	(97)	5.62
Expired	(3)	13.70
Outstanding as of March 31, 2024	6,135	5.78		8.3	30,031
Granted	—	—
Exercised	(278)	5.41
Canceled	(13)	5.46
Expired	(4)	11.95
Outstanding as of June 30, 2024	5,840	$	5.79	8.1	$	23,942

Vested and exercisable	3,036	$	5.45	7.9	$	13,492

Summary of Assumptions used in Black-Scholes Model to Determine Fair Value of Nonqualified Stock Options Granted

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


	Three and Six Months Ended June 30,
	2024	2023
Risk free interest rate	4.1%	4.3%
Expected volatility	74.4%	81.5%
Expected term (in years)	5.8	6.0
Expected dividend yield	0.0%	0.0%

Class of Treasury Stock

Shares of Class A common stock and Class B units repurchased by the Company under the stock repurchase program were as follows (in thousands):


	Three and Six Months Ended June 30, 2024
	Shares(1)	Amount(2)
Class A common stock repurchases	573	$	5,480
Class B unit repurchases	—	—
Total repurchases	573	$	5,480

(1)Shares repurchased include unsettled repurchases as of June 30, 2024.

(2)Amount includes costs associated with the repurchase such as commissions and excise taxes.

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Changes in Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 1,110	$ 1,197	$ 1,197
Provision for doubtful accounts	55	(87)	(32)	$ 49
Write-offs, net of recoveries	0	0
Ending balance	$ 1,165	$ 1,110	$ 1,165

Intangible Assets, Net (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Balances of Intangible Assets and Accumulated Amortization

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


	As of June 30, 2024
	Remaining Weighted-Average Useful Life (years)	Gross Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	0.0	$	4,927	$	(4,927)	$	—
Customer relationships	0.0	2,300		(2,300)		—
Trademarks/tradenames	1.7	1,400		(1,267)		133
Total		$	8,627	$	(8,494)	$	133


	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

Summary of Amortization of Intangible Assets Recorded in Consolidated Statements of Operations

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Platform operations	$	—	$	—	$	—	$	58
Sales and marketing	—		—		—		—
Technology and development	—		—		—		—
General and administrative	20		102		68		204
Total	$	20	$	102	$	68	$	262

Summary of Estimated Future Amortization of Intangible Assets

Estimated future amortization of intangible assets is as follows:


	As of June 30,
Year	2024
Remainder of 2024	$	40
2025	80
2026	13
2027	—
2028	—
Thereafter	—
Total	$	133

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

6 Months Ended

Jun. 30, 2024

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

Basis of Presentation and Principles of Consolidation

There have been no material changes to the significant accounting policies as described in the Company's Annual Report on Form 10-K for the year ended December 31, 2023.

Use of Estimates

Comprehensive Loss

Comprehensive Income (Loss)

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

Cash and Cash Equivalents

Accounts Receivable, Net of Allowances

The following table presents changes in the allowance for doubtful accounts for the three and six months ended June 30, 2024:


	(in thousands)
Balance as of December 31, 2023	$	1,197
Provision for doubtful accounts	(87)
Write-offs, net of recoveries	—
Balance as of March 31, 2024	$	1,110
Provision for doubtful accounts	55
Write-offs, net of recoveries	—
Balance as of June 30, 2024	$	1,165

Concentration of Risk

JOBS Act Election as an Emerging Growth Company

Recent Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Financial Instruments—Credit Losses

Revenue (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Summary of Disaggregation of Revenue

The disaggregation of revenue was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Over-time revenue	$	1,469	$	783	$	2,427	$	1,169
Point-in-time revenue	64,397		56,440		116,832		97,774
Total revenue	$	65,866	$	57,223	$	119,259	$	98,943

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (1,726)	$ (12,579)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	8,313	6,951
Stock-based compensation	9,977	16,001
Provision for doubtful accounts	(32)	49
Loss on disposal of assets	9	104
Noncash lease expense	1,944	1,940
Changes in operating assets and liabilities:
Accounts receivable	(5,417)	11,433
Prepaid expenses and other assets	(2,466)	2,799
Accounts payable	15,608	(5,554)
Accrued liabilities	(3,139)	(5,187)
Accrued compensation	(2,495)	(3,206)
Deferred revenue	(108)	57
Operating lease liabilities	(1,862)	(1,671)
Other liabilities	(399)	(282)
Net cash provided by operating activities	18,207	10,855
Cash flows from investing activities:
Purchases of property and equipment	(1,484)	(348)
Capitalized software development costs	(7,274)	(6,114)
Net cash used in investing activities	(8,758)	(6,462)
Cash flows from financing activities:
Repurchase of treasury stock related to tax withholdings on vested equity awards	(7,299)	(2,222)
Repurchase of treasury stock related to the stock repurchase program	(5,267)	0
Payment of member tax distributions	(5,170)	(4,843)
Proceeds from the exercise of stock options	1,607	0
Payment of offering costs	(34)	0
Net cash used in financing activities	(16,163)	(7,065)
Net decrease in cash and cash equivalents	(6,714)	(2,672)
Cash and cash equivalents at beginning of period	216,458	206,573
Cash and cash equivalents at end of period	209,744	203,901
Supplemental disclosure of cash flow information:
Cash paid for interest	140	75
Supplemental disclosure of non-cash investing and financing activities:
Stock-based compensation included in capitalized software development costs	1,102	2,921
Operating lease assets obtained in exchange for operating lease liabilities	3,021	214
Capitalized assets financed by accounts payable and accrued liabilities	1,224	636
Accrued member tax distributions	0	782
Deferred offering costs recorded in accounts payable and accrued liabilities	$ 292	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 209,744,000	$ 216,458,000
Accounts receivable, net of allowances	122,922,000	117,473,000
Prepaid expenses and other current assets	8,683,000	6,486,000
Total current assets	341,349,000	340,417,000
Property, equipment, and software, net	29,946,000	28,261,000
Operating lease assets	24,072,000	22,995,000
Intangible assets, net	133,000	201,000
Goodwill	12,422,000	12,422,000
Other assets	628,000	615,000
Total assets	408,550,000	404,911,000
Current liabilities:
Accounts payable	62,624,000	47,342,000
Accrued liabilities	36,279,000	39,263,000
Accrued compensation	8,602,000	10,925,000
Deferred revenue	208,000	316,000
Current portion of operating lease liabilities	4,063,000	3,762,000
Other current liabilities	2,302,000	7,242,000
Total current liabilities	114,078,000	108,850,000
Long-term debt	0	0
Long-term portion of operating lease liabilities	22,530,000	21,672,000
Total liabilities	136,608,000	130,522,000
Commitments and contingencies (Note 13)
Stockholders’ equity
Preferred stock, $0.001 par value	0	0
Additional paid-in capital	119,740,000	112,830,000
Accumulated deficit	(49,162,000)	(43,509,000)
Treasury stock, at cost; 795,330 and 153,875 shares held	(7,578,000)	(1,127,000)
Total stockholders’ equity attributable to Viant Technology Inc.	63,064,000	68,257,000
Noncontrolling interests	208,878,000	206,132,000
Total equity	271,942,000	274,389,000
Total liabilities and stockholders’ equity	408,550,000	404,911,000
Class A Common Stock
Stockholders’ equity
Common stock	17,000	16,000
Class B Common Stock
Stockholders’ equity
Common stock	$ 47,000	$ 47,000

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Lease Commitments As of June 30, 2024, 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 June 30, 2024, we had non-cancelable contractual agreements primarily related to the hosting of our data storage processing, storage and other computing services. As of June 30, 2024, we estimate these obligations to be approximately $6.8 million for the remainder of 2024, $12.4 million in 2025, $7.5 million in 2026, and $2.0 million in 2027. 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 condensed consolidated financial statements. Accordingly, no amounts for any obligation have been recorded as of June 30, 2024

Stock-Based Compensation

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Stockholders' Equity

Stock-based Compensation

The Company is authorized to grant restricted stock units ("RSUs"), incentive stock options, nonqualified stock options ("NQSOs"), stock appreciation rights, restricted stock awards, and performance stock awards under its 2021 Long Term Incentive Plan (the “LTIP”). As of June 30, 2024, the Company had only granted RSUs and NQSOs under the LTIP. Under the LTIP, 5.8 million shares of Class A common stock remained available for grant as of June 30, 2024.

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Platform operations	$	554	$	1,124	$	960	$	2,016
Sales and marketing	1,139		2,520		1,894		5,032
Technology and development	651		1,507		1,151		2,834
General and administrative	3,193		3,378		5,972		6,119
Total	$	5,537	$	8,529	$	9,977	$	16,001

RSUs

The following summarizes RSU activity:


	Number of Shares (in thousands)	Weighted-Average Grant Date Fair Value
RSUs outstanding as of December 31, 2023	3,647	$	6.03
Granted	2,312	9.24
Vested	(1,138)	5.88
Canceled/forfeited	(137)	9.22
RSUs outstanding as of March 31, 2024	4,684	7.56
Granted	203	9.42
Vested	(419)	8.42
Canceled/forfeited	(50)	7.46
RSUs outstanding as of June 30, 2024	4,418	$	7.56

As of June 30, 2024, the Company had unrecognized stock-based compensation relating to RSUs of approximately $30.2 million, which is expected to be recognized over a weighted-average period of 2.2 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, 2023	5,736	$	5.41	8.6	$	8,807
Granted	516	9.92
Exercised	(17)	6.04
Canceled	(97)	5.62
Expired	(3)	13.70
Outstanding as of March 31, 2024	6,135	5.78		8.3	30,031
Granted	—	—
Exercised	(278)	5.41
Canceled	(13)	5.46
Expired	(4)	11.95
Outstanding as of June 30, 2024	5,840	$	5.79	8.1	$	23,942

Vested and exercisable	3,036	$	5.45	7.9	$	13,492

There were no nonqualified stock options granted during the three months ended June 30, 2024. The weighted-average grant date fair value of the nonqualified stock options granted during the six months ended June 30, 2024 was $6.67. As of June 30, 2024, the Company had unrecognized stock-based compensation relating to unvested nonqualified stock options of approximately $10.6 million, which is expected to be recognized over a weighted-average period of 1.7 years.

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


	Three and Six Months Ended June 30,
	2024	2023
Risk free interest rate	4.1%	4.3%
Expected volatility	74.4%	81.5%
Expected term (in years)	5.8	6.0
Expected dividend yield	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 based on both the volatility of a peer group of similar companies whose share prices are publicly available as well as the historical volatility of the Company's daily stock prices. 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 the simplified method, which uses the midpoint of the weighted average vesting period and the contractual term. 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.

Stock Repurchase Program

On April 23, 2024, the Company's board of directors approved a stock repurchase program with authorization to purchase up to $50 million in shares of the Company's Class A common stock or Class B units of Viant Technology LLC. As of June 30, 2024, $44.6 million remained available under the stock repurchase program.

The Company may make repurchases under the program, from time to time, through open market purchases, block trades, in privately negotiated transactions, accelerated stock repurchase transactions, or by other means. Open market repurchases will be structured to occur in accordance with applicable federal securities laws, including within the pricing and volume requirements of Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases under this authorization. The volume, timing, and manner of any repurchases will be determined at the Company's discretion, subject to general market conditions, as well as the Company's management of capital, general business conditions, other investment opportunities, regulatory requirements and other factors. The stock repurchase program does not obligate the Company to repurchase any specific number of shares of Class A common stock or Class B units, has no time limit, and may be modified, suspended, or discontinued at any time without notice, at the discretion of the board of directors. The Company expects to fund repurchases from existing cash and cash equivalents, short-term investments and/or future cash flows.

Shares of Class A common stock and Class B units repurchased by the Company under the stock repurchase program were as follows (in thousands):


	Three and Six Months Ended June 30, 2024
	Shares(1)	Amount(2)
Class A common stock repurchases	573	$	5,480
Class B unit repurchases	—	—
Total repurchases	573	$	5,480

(1)Shares repurchased include unsettled repurchases as of June 30, 2024.

(2)Amount includes costs associated with the repurchase such as commissions and excise taxes.

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.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue	$ 65,866	$ 57,223	$ 119,259	$ 98,943
Operating expenses:
Platform operations	35,122	33,523	65,002	56,860
Sales and marketing	13,088	11,691	25,987	23,860
Technology and development	5,815	6,172	11,047	12,066
General and administrative	12,612	11,088	23,686	22,516
Total operating expenses	66,637	62,474	125,722	115,302
Loss from operations	(771)	(5,251)	(6,463)	(16,359)
Interest income, net	(2,359)	(2,049)	(4,740)	(3,868)
Other expense, net	1	1	3	88
Total other expense (income), net	(2,358)	(2,048)	(4,737)	(3,780)
Income (loss) before income taxes	1,587	(3,203)	(1,726)	(12,579)
Provision for income taxes	99	0	0	0
Net income (loss)	1,488	(3,203)	(1,726)	(12,579)
Less: Net income (loss) attributable to noncontrolling interests	1,433	(2,140)	(834)	(9,036)
Net income (loss) attributable to Viant Technology Inc.	$ 55	$ (1,063)	$ (892)	$ (3,543)
Earnings (loss) per share of Class A common stock:
Basic (USD per share)	$ 0.00	$ (0.07)	$ (0.05)	$ (0.24)
Diluted (USD per share)	$ 0.00	$ (0.07)	$ (0.05)	$ (0.24)
Weighted-average shares of Class A common stock outstanding:
Basic (shares)	16,480,000	15,135,000	16,214,000	14,943,000
Diluted (shares)	19,235,000	15,135,000	16,214,000	14,943,000

Stock-Based Compensation - Summary of RSU Activity (Details) - Restricted Stock Units - $ / shares shares in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
RSUs outstanding, beginning balance (shares)	4,684	3,647
Granted (shares)	203	2,312
Vested (shares)	(419)	(1,138)
Canceled/forfeited (shares)	(50)	(137)
RSUs outstanding, ending balance (shares)	4,418	4,684
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 of RSUs outstanding, beginning balance (USD per share)	$ 7.56	$ 6.03
Granted (USD per share)	9.42	9.24
Vested (USD per share)	8.42	5.88
Canceled/forfeited (USD per share)	7.46	9.22
Weighted-Average Grant-Date Fair Value of RSUs outstanding, ending balance (USD per share)	$ 7.56	$ 7.56

Noncontrolling Interests - Additional Information (Details) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Members Equity Class B Units
Minority Interest [Line Items]
Exchange units for shares of common stock (shares)	158	47,593

Accrued Liabilities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Expense incurred	$ 66,637	$ 62,474	$ 125,722	$ 115,302
Affiliated Entity
Related Party Transaction [Line Items]
Accrued liabilities	600		600		$ 300
Expense incurred	$ 400	$ 100	$ 600	$ 400

Intangible Assets, Net

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

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


	As of June 30, 2024
	Remaining Weighted-Average Useful Life (years)	Gross Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	0.0	$	4,927	$	(4,927)	$	—
Customer relationships	0.0	2,300		(2,300)		—
Trademarks/tradenames	1.7	1,400		(1,267)		133
Total		$	8,627	$	(8,494)	$	133


	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

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Platform operations	$	—	$	—	$	—	$	58
Sales and marketing	—		—		—		—
Technology and development	—		—		—		—
General and administrative	20		102		68		204
Total	$	20	$	102	$	68	$	262

Estimated future amortization of intangible assets is as follows:


	As of June 30,
Year	2024
Remainder of 2024	$	40
2025	80
2026	13
2027	—
2028	—
Thereafter	—
Total	$	133

Revenue

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue

The disaggregation of revenue was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Over-time revenue	$	1,469	$	783	$	2,427	$	1,169
Point-in-time revenue	64,397		56,440		116,832		97,774
Total revenue	$	65,866	$	57,223	$	119,259	$	98,943

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 as of June 30, 2024 and December 31, 2023. 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.

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 condensed 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

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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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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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Larry Madden [Member]
Trading Arrangements, by Individual
Name	Larry Madden
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 9, 2024
Arrangement Duration	281 days
Aggregate Available	200,000

Intangible Assets, Net - Summary of Estimated Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 40
2025	80
2026	13
2027	0
2028	0
Thereafter	0
Net Carrying Amount	$ 133	$ 201

Revolving Credit Facility - Additional Information (Details) - PNC Bank - Loan Agreement		6 Months Ended
	Apr. 04, 2023 USD ($)	Jun. 30, 2024 USD ($)	Oct. 31, 2019 USD ($)
Secured Overnight Financing Rate
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus margin	0.10%
Revolving Credit Facility
Line Of Credit Facility [Line Items]
Senior secured revolving credit facility, maximum borrowing capacity	$ 75,000,000		$ 40,000,000
Outstanding balance		$ 0
Facility fee for undrawn amounts	0.375%
Fixed coverage charge ratio	1.40
Undrawn availability percentage	0.25
Revolving Credit Facility \| Domestic Rate Loans
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus margin	0.50%
Revolving Credit Facility \| Domestic Rate Loans \| Minimum
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus margin	1.00%	1.00%
Revolving Credit Facility \| Domestic Rate Loans \| Maximum
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus margin	1.25%
Revolving Credit Facility \| Secured Overnight Financing Rate
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus margin	1.00%
Revolving Credit Facility \| Secured Overnight Financing Rate \| Minimum
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus margin	2.00%
Revolving Credit Facility \| Secured Overnight Financing Rate \| Maximum
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate plus margin	2.25%	2.00%

Nature of Operations	6 Months Ended
Nature of Operations	Jun. 30, 2024
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 cloud-based 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 connected TV, mobile, desktop, in-game, streaming audio and digital billboards.

Noncontrolling Interests (Tables)

6 Months Ended

Jun. 30, 2024

Noncontrolling Interest [Abstract]

Summary Ownership of Viant Technology LLC

The following table summarizes the ownership of Viant Technology LLC:


	As of June 30, 2024			As of December 31, 2023
Owner	Units Owned	Ownership Percentage		Units Owned	Ownership Percentage
Viant Technology Inc.	16,375,138	25.8	%	15,783,941	25.1	%
Noncontrolling interests	46,984,667	74.2	%	47,032,260	74.9	%
Total	63,359,805	100.0	%	62,816,201	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 periods indicated:

Noncontrolling Interests - Summary of Effect of Changes in Ownership Interest in Viant Technology LLC on Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Noncontrolling Interest [Abstract]
Net income (loss) attributable to Viant Technology Inc.	$ 55	$ (1,063)	$ (892)	$ (3,543)
Transfers to noncontrolling interests:
Decrease in the additional-paid-in-capital of Viant Technology Inc. resulting from ownership changes in Viant Technology LLC	(2,577)	(3,956)	(3,580)	(6,333)
Change from net income (loss) attributable to Viant Technology Inc. and transfers to noncontrolling interests	$ (2,522)	$ (5,019)	$ (4,472)	$ (9,876)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

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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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income (loss) attributable to Viant Technology Inc.	$ 55	$ (1,063)	$ (892)	$ (3,543)

- Definition

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

+ References

+ Details

Noncontrolling Interests - Summary Ownership of Viant Technology LLC (Details) - Viant Technology LLC - shares	6 Months Ended	9 Months Ended
	Jun. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Minority Interest [Line Items]
Units Owned (shares)	63,359,805	62,816,201
Ownership Percentage	100.00%		100.00%
Viant Technology Inc.
Minority Interest [Line Items]
Units Owned (shares)	16,375,138	15,783,941
Ownership percentage by Viant Technology Inc.	25.80%		25.10%
Noncontrolling Interests
Minority Interest [Line Items]
Units Owned (shares)	46,984,667	47,032,260
Ownership percentage by non-controlling interests	74.20%		74.90%

Property, Equipment and Software, Net - Schedule of Depreciation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property Plant And Equipment [Line Items]
Depreciation	$ 4,147	$ 3,437	$ 8,245	$ 6,689
Platform operations
Property Plant And Equipment [Line Items]
Depreciation	3,531	2,910	7,057	5,622
Sales and marketing
Property Plant And Equipment [Line Items]
Depreciation	0	0	0	0
Technology and development
Property Plant And Equipment [Line Items]
Depreciation	440	383	871	776
General and administrative
Property Plant And Equipment [Line Items]
Depreciation	$ 176	$ 144	$ 317	$ 291

Revenue - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Expected Duration of Greater Than One Year
Disaggregation Of Revenue [Line Items]
Revenue for unsatisfied performance obligation expected to be recognized in the future, amount	$ 0.2	$ 0.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Stock-Based Compensation - Summary of Stock Repurchase Program (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Repurchase of treasury stock related to the stock repurchase program (shares)	573,000
Repurchase of treasury stock related to the stock repurchase program	$ 5,480,000	$ 5,480,000
Class A Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Repurchase of treasury stock related to the stock repurchase program (shares)	573,000
Repurchase of treasury stock related to the stock repurchase program	$ 5,480,000
Class B Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Repurchase of treasury stock related to the stock repurchase program (shares)	0
Repurchase of treasury stock related to the stock repurchase program	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Money market funds		$ 192.9
Customer Concentration Risk \| Customer One \| Accounts Receivable
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		15.00%		17.90%
Customer Concentration Risk \| Advertising Agency Holding Company One \| Accounts Receivable
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		12.00%
Customer Concentration Risk \| Individual Customer B \| Accounts Receivable
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		10.30%
Customer Concentration Risk \| Individual Customer C \| Accounts Receivable
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	18.40%		12.20%
Supplier Concentration Risk \| Accounts Payable and Accrued Liabilities \| Supplier One
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		17.00%		16.10%
Supplier Concentration Risk \| Accounts Payable and Accrued Liabilities \| Supplier Two
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		12.70%		14.40%
Supplier Concentration Risk \| Accounts Payable and Accrued Liabilities \| Supplier Three
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage				11.60%

Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued traffic acquisition costs	$ 31,013	$ 34,085
Other accrued liabilities	5,266	5,178
Total accrued liabilities	$ 36,279	$ 39,263