Key Highlights

  • Viant Technology (NASDAQ:DSP) traded at USD 11.26 on November 10, 2026, down 19.80% from a calculated prior close of USD 14.04, on Volume of 338.19 thousand shares and relative volume of 0.97.
  • Third quarter 2026 Revenue rose 29% to USD 110.4 million and adjusted EBITDA rose 24% to USD 19.8 million, but Net Income fell 49% to USD 2.6 million and diluted EPS was USD 0.00.
  • Fourth quarter guidance is revenue of USD 130.5 million to USD 133.5 million and adjusted EBITDA of USD 31.0 million to USD 32.0 million, with cash of USD 183.2 million.
  • Market value was USD 748.78 million, trailing diluted EPS USD 0.14 and the price to Earnings ratio 81.42, with 1.8 million shares repurchased for USD 23.2 million since the third quarter began.

What Moved Viant Technology on November 10 (-19.80%)

Viant Technology (NASDAQ:DSP) reported third quarter 2026 results in a filing dated November 9, 2026, and the shares fell 19.80% to USD 11.26 in the next regular session. The prior close was about USD 14.04 (calculated), a drop of USD 2.78. Revenue rose 29% to USD 110.4 million from USD 85.6 million, Gross Profit rose 30% to USD 51.6 million and contribution ex-TAC rose 27% to USD 67.2 million. Adjusted EBITDA of USD 19.8 million was 29% of contribution ex-TAC against 30% a year earlier. Net income fell 49% to USD 2.6 million and net income attributable to Viant fell 93% to USD 0.1 million. Non-GAAP diluted EPS was USD 0.13, up 8%. Volume was 338.19 thousand shares, with relative volume of 0.97.

The Rationale: Results, Margins and the Guide

No published coverage confirmed the cause, but the results offer candidates. Fourth quarter adjusted EBITDA guidance of USD 31.0 million to USD 32.0 million sits on revenue of USD 130.5 million to USD 133.5 million and contribution ex-TAC of USD 80.5 million to USD 82.5 million. Margin slipped by one point and GAAP profit fell sharply despite faster sales, which can unsettle holders of a stock at 81.42 times earnings. Connected TV advertiser spend rose nearly 40% and exceeded 50% of total spend, with over 80% of that spend transacted through Direct Access. As general context, shares often fall when growth does not translate into earnings or when expectations are high. These are general mechanisms, not confirmed causes.

Valuation, Liquidity and Risks for Viant Technology

The stock is valued at USD 748.78 million on about 66.5 million total shares, of which 21.2 million are Class A and 45.3 million Class B. Cash of USD 183.2 million equals roughly USD 2.75 a share (calculated). Repurchases of 1.8 million shares since the third quarter began averaged USD 12.82, above the new price, and the authorization was raised by USD 50 million to USD 150 million with USD 70.8 million remaining. Volume of 338.19 thousand shares is modest, so large orders can move the price. Risks include Advertising budget cycles, dependence on connected TV, margin pressure and a high multiple on small GAAP earnings. Nothing here implies the move will continue.

Where Things Stand

Viant Technology (NASDAQ:DSP) fell 19.80% to USD 11.26 on November 10, 2026 after third quarter results showed 29% revenue growth but a 49% drop in net income and a lower adjusted EBITDA margin. No published coverage confirmed the cause. With a price to earnings ratio of 81.42, USD 70.8 million of buyback capacity and cash of USD 183.2 million, the stock now trades below the USD 12.82 average repurchase price.