Viant AI Outcomes Hit 5% of $104.3M Q2 Platform Spend

For AI practitioners, Viant's Q2 shows how deterministic identity data can accelerate model adoption. With 95% U.S. household address coverage and 80% of CTV spend flowing through Direct Access, Viant AI's outcome-based bidding reached 5% of platform spend just six months after launch—an indication that closed-loop data beats open-web probabilistic matching.

Viant Technology reported second-quarter 2026 results on August 10, 2026, posting revenue of $104.3 million, a 34% year-over-year increase driven by strong demand for connected television and adoption of the company's intelligence layer. Contribution ex-TAC reached $60.2 million, up 24% year over year, while adjusted EBITDA came in at $14.2 million, up 26% and above the high end of management's guidance. Non-GAAP basic EPS rose 50% to $0.15 from $0.10. The company generated $22.4 million in free cash flow, up 39%, and $28.5 million in operating cash flow, up 36% from $21 million. The balance sheet ended the quarter with $193.1 million in cash and equivalents, zero debt, and an undrawn $75 million credit facility.

“

The company generated $22.4 million in free cash flow, up 39%, and $28.5 million in operating cash flow, up 36% from $21 million.

The central story is CTV. CTV spend grew nearly 50% year over year and now represents more than half of total advertiser spend on Viant's platform. Crucially, Direct Access—the company's supply-path optimization program—handled 80% of connected television spend in Q2 2026, up from 50% in Q1 2026. That is a rapid operational shift: in one quarter, the majority of Viant's CTV inventory moved through a direct route that bypasses intermediaries, improving transparency and take rates. The company's household identity graph now maps 95% of U.S. household addresses, giving Viant a deterministic foundation for targeting and measurement as third-party cookies continue to degrade.

Viant's AI layer is still small but strategically important. Viant AI outcomes accounted for 5% of total platform ad spend year-to-date since launching six months ago. While modest, the attach rate matters because it signals that advertisers are willing to shift from conventional CPM buying to outcome-based bidding. If that mix grows, contribution ex-TAC margins could expand beyond the current 24% adjusted EBITDA margin—already up 30 basis points year over year—and create a more software-like revenue mix. The risk is that larger DSPs with deeper AI budgets could replicate the approach, but Viant's deterministic household ID and CTV supply relationships provide a narrow moat.

Management's Q3 2026 guidance points to continued but decelerating growth: revenue of $107.5 million to $110.5 million, representing 27% growth year over year at the midpoint, contribution ex-TAC of $65 million to $67 million (25% growth), and adjusted EBITDA of $18.5 million to $19.5 million. Sequentially, this implies meaningful EBITDA expansion from Q2's $14.2 million, even as revenue growth moderates from 34% to 27%. The deceleration is partly law-of-large-numbers and partly tougher comps, but it is a metric investors should monitor.

The transcript cluster also included results from NGS, Bakkt, Getty Images, and Playboy, offering a broader macro cross-check. NGS delivered 25% rental revenue growth and record adjusted EBITDA, while Getty Images saw revenue decline 2.5% and Bakkt's revenue plunged 70% on client transitions and soft digital asset trading volumes. Against that mixed backdrop, Viant's outperformance is notable because advertising budgets are often the first to be cut in soft macro environments. The fact that CTV and identity-based buying continued to grow suggests the shift from linear and open-web programmatic is structural, not cyclical.