Viant Technology Inc. (NASDAQ:DSP) Q3 2022 Earnings Conference Call November 9, 2022 5:00 PM ET
Company Participants
Sandra Magnus - Investor Relations
Tim Vanderhook - Co-Founder and CEO
Chris Vanderhook - Co-Founder and COO
Larry Madden - Chief Financial Officer
Conference Call Participants
Laura Martin - Needham & Company
Andrew Boone - JMP
Maria Ripps - Canaccord
Andrew Marok - Raymond James
Jason Kreyer - Craig-Hallum
Operator
Hello, everyone. And welcome to Viant’s Third Quarter 2022 Earnings Conference Call. My name is Kelsey, and I will be your operator today. Before I hand the call over to the Viant leadership team, I’d like to go over just a few housekeeping notes for the program. As a reminder, this webinar is being recorded. And after the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]
We thank you for your attendance today and I will now turn things over to Sandra Magnus with Viant Technology. Sandra, over to you.
Sandra Magnus
Thank you, Kelsey. Good afternoon. And welcome to Viant Technologies third quarter 2022 financial results conference call. On the call today are Tim Vanderhook, Co-Founder and Chief Executive Officer; Chris Vanderhook, Co-Founder and Chief Operating Officer; and Larry Madden, Chief Financial Officer.
I’d like to remind you that we will make forward-looking statements on our call today that are based on assumptions and subject to future events, risks and uncertainties that could cause actual results to differ materially from those projected. We undertake no obligation to update these statements, except as required by law.
For more information about factors that may cause actual results to differ materially from forward-looking statements and our entire Safe Harbor statement, please refer to the news release issued today, as well as the risks and uncertainties described in our registration statement on Form 10-K and other filings with the SEC.
During today’s call, we will also present both GAAP and non-GAAP financial measures. Additional disclosures regarding these non-GAAP measures, including a reconciliation of GAAP to non-GAAP measures are included in the news release we issued today and in our filings with the SEC.
I would now like to turn the call over to Tim Vanderhook, Chief Executive Officer of Viant. Tim.
Tim Vanderhook
Thank you everyone for joining us for our third quarter earnings call. We posted good operating results in the third quarter amidst a challenging environment. Total advertiser spend on our platform grew 19% year-over-year, ahead of market ad spend growth rates as we continue to gain share in the digital advertising market. In the third quarter, revenue was $48.8 million, a decrease of 4% versus the prior year period and contribution ex-TAC was $32.1 million, a decrease of 6% versus the prior year period.