Viant Technology Inc. (NASDAQ:DSP) Q1 2024 Earnings Call Transcript

Larry, can you take the question related to cash expenses through the end of this.

Larry Madden: Yes. So on the Q2 guide, we did guide $32 million to $33 million of OpEx for second quarter, which at the midpoint would be up 21% year-over-year. But what I would say is the 21% growth is not reflective of what annual growth will be. [Indiscernible] 2023 was the low point that our overhead last year. We had essentially no or very little in the way of discretionary investment or spend. For the full year, I think we’ve said this before we expect overhead or non-GAAP OpEx to grow in the low teens percentage in 2024 for the full year. We will continue to make investments as we said, but we will be very pragmatic and diligent about what we’re doing. We always have the opportunity to dial it up or dial it down. But I — we are expecting overhead growth in the low teen percentages for the full year.

Chris Kuntarich: Got it. Thanks. And maybe if I could just squeeze one more in. Just curious, how are you thinking about political? Can you just talk to us about how that’s trended year-to-date versus kind of your expectations and kind of visibility into the back half of the year budgets?

Tim Vanderhook: Yes, political, we’ve made great progress in this category. We’ve got an established office in Washington DC and have hired dedicated staff for this vertical. So we do have high hopes for political. A lot of our discussions with clients, they do believe digital will be a significant beneficiary this year, relative to linear television kind of very similar to other vertical categories that we’re seeing. So we do think political could have an opportunity to contribute to our revenue growth more so this year as it was pretty insignificant in the prior years.

Chris Kuntarich: Got it. Thank you.

Tim Vanderhook: Thanks, Chris.

Operator: Well, that does conclude our Q&A session for today, Chris and Tim, I’ll turn it back to you for closing comments.

Tim Vanderhook: Great. Thank you very much for joining the earnings call and I just want to say thank you to all the Viant employees who helped us have an exceptional first quarter and a great kickoff to 2024. We’ll see you next quarter. Thank you.