Viant Technology Inc.

Thank you.

Hello again. Today we are here to share with you the current importance of the Bionic Epidemiology First Quarter 2022 Annual Webinar. We will be getting started by one of our official patients. Hello everyone and welcome to Bionic Epidemiology First Quarter 2022 Annual Webinar. My name is Cassie and I will be your operator today.

Before I turn the webinar over to Yvonne, we would like to ask you to go over just a few housekeeping notes for the program. As you'll notice, this webinar is being recorded. It contains all of you, and this is only where the following is beginning up. There will be a question and a discussion. If you'd like to ask a question, please click on the red hand tab located at the bottom of your screen, and please ensure that the full name of your full name and your full name. Thank you for your attention today, and I will now turn things over to Nicole Dozier for the presentation. Thank you, Kelsey. Good afternoon, and welcome to Lyon Technologies' post-credits 2022 Mental Health Conference Talk. I'm Nicole Dozier with Tim Vanderhoek's Co-Founder and Chief Executive Officer, Chris Vanderhoek's Co-Founder and Chief Operating Officer, and Lauren Allen, the Co-Founder and Chief Administrator. I'd like to remind you that we will make full written statements on our call today, including our guidance for Q1 2022, that are based on assumptions and subject to future events, just to ensure that we cause actual results to this interviewer who can be presented. We undertake no obligation to update these statements, except if required by law. For more information on factors that may cause actual results to this interviewer who can file written statements, and our unpolished or public statements, please refer to the news release if you could add as well as the risks and uncertainties described in our report answering 10 calls to the U.S. and the U.S. on the 22th under the heading Book Backers and Other Times to the FTC. During today's call, we will also present both draft and non-draft financial measures. If there are any disclosures regarding these non-debt measures, including the reconciliation of staff's non-debt measures, all included in the news will be received today, which has been posted on the official resources of the country's website, and on our forums at the S&P. I would now like to turn the call over to Tim Dunlop, Chief Executive Officer of S&P. Tim? Thanks, Nicole, and thanks, everyone, for joining us today. I'm pleased to report that we finished the year with people, advertisers, funds, revenue, and contribution-like tax results consistent with our guidance. And that's to do with us significantly exceeding our guidance because it's testament to the hard work of our team managing incentives and gathering operational efficiency. Last month marked a two-year anniversary of Bounce IPO, a notable milestone for the company. While the cost-coated market environment has been volatile since their release, our mission and purpose has remained consistent. To provide advertisers with a market-leading solution to buy and measure any channel digital advertising as we dangerously put more emphasis on privacy protection and move away from taking the device by themselves. We've been steadfast in executing our mission, including introducing new capabilities to our platform, including our world's largest unit, as well as numerous other features and innovations provided by us with measurements and attributions using our high-performance ID technology. There is no question that Biond has already been serving the world a purposeful end in the programmatic advertising industry. and we feel very confident in our position and market opportunity for the future. Looking ahead, there are three key firms that we believe will continue to shape the auto industry and our business in 2010 through and beyond. Our touchdown team stands in my opinion under a relatively high standard to benefit from this evolving landscape. The first is the growing importance of AI in machine learning. Always, we have previously described our vision as autonomous advertising. At Bionics, we are focused on delivering products that take away the laborious tasks of humans using the programmatic ad platform. tasks like building an ad campaign, or ad formats, and selecting a tool, device, publisher, and ultimately providing good price performance. By leveraging AI, we will be able to automate many of these softwares and provide our customers a more efficient experience, and reduce the amount of time it takes to optimize these complex and almost infinite combinations of sources before they are out of service. We made some tremendous progress in this area in 2022 and believe that we have a substantial lead over our years. We are excited to begin making these AI innovations public later in the year. Our customers can expect increased efficiency, higher return on investment, and a better and simpler experience overall as we continue to integrate AI tech into our products and services. Our focus on AI is part of a broader mission to make advertising more efficient, effective, and sustainable. This brings me to the second theme, Connected TV. CTV is a firm that is rapidly growing in the ag industry, and we are excited about the growth opportunities it provides. Your business, CTV, represents more than one third of total firm manufacturing, and according to eMarketers, the U.S. CTV Ag Firm market will grow by 27% in 2023, and it's expected to continue to grow at double-digit rates over the next few years. The benefits of CTV over linear television are vast, and we believe this is a significant driver of the shift. With CTV, advertisers can reach their target audience in a more precise manner, increasing their measurability, effectiveness, and ultimately the return on ads and their ad campaigns. Another benefit of CCD is that it offers a more immersive experience for viewers, allowing for better storytelling opportunities and useful ground awareness. It also offers an environment where viewers are less likely to multitask or send to Santa, which increases their likelihood that the ads will be seen in more numbers. Violent, patented, and stale Household ID gives a different entry level that gives our customers a unique awareness. With household ID and mobile that costs 80% of the big screen today, we can identify individual households that have connected devices like smart TVs, smart speakers, and mobile and desktop devices, and then deliver ads that are tailored to their viewing habits and preferences. This allows for more effective ad campaign and the ability to provide higher return on ad spend for our customers today. Additionally, because the output ID is disseminated, you can map data with precision. Meaning, all customers can use our platform to run more processes and campaigns using the desired arguments without wasting options on irrelevant words. Vance's flat-scaled household ID is just one of the many differentiating factors driving our customers to consolidate their assets among our fat men. And it distinguishes us from our peers, that are reliant on cookie-based products that do not scale in the real-nation technology field such as CTV. Looking to the future, we believe that the shift from manual TV to CTV is strong as four-week stages. There is still over $60 billion of renewable TV output that is yet to move to CCD. And we expect this to happen over the coming years. With high focus on innovation and commitment to providing value to our customers, we believe we are well positioned to capitalize on this gift and continue to drive growth in the CCD market. The third form that we are seeing this year is the increasing focus on sustainability. Through Avion, we believe that sustainability is not just a trend, but a responsibility. Our AdCity program is a prime example of how we are leveraging our technology to help our customers achieve their carbon reduction goals. According to recent statistics, 83% of the Fortune 500 companies have a stated carbon reduction goal, and 75% of consumers consider sustainability their biggest achievement. Therefore, it's crucial for businesses to focus on minimizing their carbon footprint and supporting their customers and vendors in producing their carbon footprint. Mine's electricity program is designed to help our customers, both advertisers and advertisers, to follow their carbon-production goals through the purchase of wind and solar renewable energy products, which can be used to avoid their publicly-spirited carbon-production timelines. This means that by collecting volume for DSPs, our customers can significantly advance their sustainability goals. We're proud to be focused on this area and believe that programmatic advertising can lead the way in promoting a sustainable economy. We are also focused on sustainability in terms of the programmatic supply chain. We have partnered with SoClean, an independent company operating a carbon calculator that provides a comprehensive view of carbon emissions throughout the digital ag supply chain. SoClean is quickly becoming recognized as an unbiased standard for measuring carbon emissions across the advertising industry. Their rigorous methodology affects each other's website and app, providing detailed information on carbon emissions at each stage of the supply chain. This valuable partnership enables us to identify heavy polluting particles and inner meteorites, and enables our customers to accelerate the reduction of their carbon footprint in a sustainable lifespan. This partnership, in combination with our advocacy program, enables our customers to reduce their scope-free and scope-free carbon emissions. At Mines, we have committed to becoming carbon neutral with respect to all known and measurable emissions in our energy industry by the end of 2023. Sustainability is a key part of our emissions, and we are excited to continue driving progress in this area. In closing, we see the growing importance of AI and the accelerating adoption of CTD as two major heroines that we stand to benefit from in the year ahead. At the same time, we are leading the industry in our mission to support our customers as they look to meet those sustainability goals, and believe this presents a meaningful opportunity for balance in the long run. We are well positioned to win here in the market as we continue to deliver innovation for our customers. Now I'll hand it all over to Chris to discuss more around the business. Thank you, Dennis. What a strong end in the world without the customer, increasing 6% year-over-year to 326% year-over-year. Google has led the mid-market advertising industry to strong direct customer service. Because of that, advertisers found to assets up to about 90% year-over-year. Additionally, we can continue to see growth on various channels and reports, with digital analytics increasing 55% year-over-year, and streaming audio increasing 38% year-over-year. As many of you know, our primary focus is on mid-market agencies and direct advertising. I wanted to highlight a strong working material in 2020. Before May 19, 1922, the U.S. Department of Defense represented about 65% of the United States. I'd like to unpack this a bit more and talk about why we are succeeding in this market segment. First, mid-market agencies not only select us based on an innovative programmatic advice platform, our proprietary data sources, and forward programs such as EdCity, but they also value our flexible engagement models and are truly focused on helping success and support. Our store capabilities often evolve to a one-size-fits-all model, which is the largest, most repurposed company, and the five largest ad agencies in the country. According to Agista, there are over 14,000 advertising agencies in the U.S. because there is a very large mid-market opportunity that is just there. Most of these agencies sit outside of a few large agency holding companies, yet they perform a large portion of their total advertising spend market. Mid-market agencies have become an increasingly popular source for many donors and advertisers to make videos. This is because these agencies often provide more flexible engagement models that correlate to the unique needs of mid-size agencies, while also offering a more tailored approach to advertising and marketing strategies. As you may know, the mid-market agencies tend to have clients that require a global focus on their return on investment. This focus is a good reason why a management offering has such good adoption of these funds. A new partnership in 2020 that I'd like to highlight is with Empower Media, America's largest female-owned media agency. Empower is a strong, independent agency led by Ashley Clark, with an exciting roster of both national and regional partners. As a preferred GFC, we can not only help power the crazy amount of advertising capabilities, but we enable them to do three different things that can't be done, and we can afford to help them out as a partner in running their business. Our new market advertisers are another segment of yours, and are responsible for amazing vertical growth areas such as credit carding, data collection terminals, and reach out to you. Please feel free to agree with the first-party data, assistance, program identifiers, and driving technology with you. All commonplace in what we look for in bringing on the right types of new market customers. Next, I would like to highlight some of our top business priorities in the 2021 series. Number one, we've already launched a major update to our Bionic Data Lab that will now be known as Bionic Data Platform. This update will include all of the incredible features of our Bionic Data Lab, with significant improvements to overall user experience. At this point, we will be introducing enhanced capabilities to continue our use in cross-cloud and cross-community identity hacking, as well as making installations for our clients. Design data platforms will allow customers to seamlessly map their first-party data across publishers and platforms that citizens want to use. This is a process we derive from citing audiences and measuring their online status in 50% items. We believe this will be the way forward for how the industry operates and posts to be read. Reason number two. We have taken to the stockpile vision for autonomous car design. And it's core of that vision is our ability to develop products that are going to be more and more out of this environment. This year, we will release a steady-credit series of pieces that are all aimed at helping our clients achieve the most efficient CPM pricing that seems to be in perfect performance to their clients. This will help to lower economic and business costs and power to their clients' lifespans. And last but not the least, we're launching a new program called We Have the Access. We have the access to the program to the most efficient content for our customers by creating partnerships with 10 new content owners and making value of 10 new content to our clients directly. This program should be able to help patients with high pain, provide deals on out-of-pocket services, and eliminate unnecessary carbon emissions by eradicating the particular biotech that came through at that time. We know innovation drives success in our industry, and we're strongly focused on that. Next, I'd like to touch on the cost-reliance efforts being put in the second half of 2023. This included additional employee headcount by approximately 15% in 2014 and approximately more in 2019. Despite the reduction in non-GAAP operating expenses, we were still able to invest in our product and technology gains, nearly doubling the size of our product gains in the second half of 2020. We're also growing our engineering staff by 20% since year end as the level of growth of our growing market increased substantially a year ago. And we sent two members home to us from Birmingham, Apple, Meta, and Snapchat, from other cities. And we helped establish our ability to fulfill an autonomous advertising platform in the region. Our efforts to reduce cost and increase efficiency was considerable. And we were happy to have a mission to maintain our strategy within our market. To that end, we will recently award a D2 2023 Best Officer award for marketing and advertising, which is your validation that after a year you will be a Best Officer. We will continue to train and encourage you all to make some massive market opportunities for marketing and advertising. To our viewers, we are now sending over letters to provide more details and information. Thanks, Russ, and thank you, everyone, for joining us today. Before I begin, I'd like to remind everyone that it is a place for the presentation for an investor-related website with supplemental financial information for companies to those presentations. As Tim mentioned, we are pleased to report that our Q4 performance was within our previously received guidance to advertise the spend growth, revenue, and confidence next time. And for the quarter, we exceeded the high end of our previously received address within the guide guidance by 150%. I will talk more about this in a moment, but during the quarter, we made it extremely focused on driving operational efficiencies in the business. If we can use special steps for meaningful, adjusted feedback profitability in some countries. For the fourth quarter, advertisers spend across our platform between 18% over the prior year, while increasing 9% over Q3. For the four years, advertisers spend between 15% year-over-year. In the fourth quarter, revenue was $54.5 million, a decrease of 34% versus the prior year period, and an increase of 12% versus Q3. In a year, revenue rose $197.2 million, representing a decrease of 12% year-on-year. Contribution at cost for the fourth quarter was $33.4 million, a decrease of 31% versus the prior year period, and an increase of 4% versus Q3. Over the year, the company's net cost totaled $124.7 million, representing a year-over-year decrease of 12%. There are several key points I'd like to highlight relative to both Q4 and the four-year 2022 top-down performance. To begin with, Q4 2022 was accelerating growth and spend across our top-down. Advertising spending Q1 increased 44%, well above industry growth rates. That momentum continued in Q2, and we again saw a strong growth of 32% for the quarter. We'd be answering the early stages of a pullback in spend by general finance and union due to macroeconomic influence. That pullback continued in Q3, with growth in spend slowing to 19%, and ultimately these challenging conditions resulted in spend decline in the early years before. Before we talk about verticals, As we discussed in our last earnings call, in Q4 2021, we did exceptionally well in the jobs and employment customer vertical. These customers spent significantly to close out 2021, in an effort to capitalize on the heightened demand for labor, leveraging our fixed-price pricing options. In Q4 2022, customers across this vertical reduced their spend by more than 95% as labor markets cooled. The dynamic alone contributed to about half of the revenues declined and well over 30% of the decline in contribution of staff in Q4. The good news is that we do not expect any continued easements across this protocol to have a material impact on 2023, as spent throughout 2022 across this protocol will diminish due to the changes in the labor market. In terms of other notable customer protocols, I'd first like to touch on our largest customer vertical, retail. As we mentioned last quarter, growth across this vertical began slowing in Q3, and that trend continued in Q4, with retail slowing down year-over-year in the quarter. In contrast, our travel and delivery verticals continued to perform exceptionally well despite the macro weakness, with both persons growing growth in Q4. And for the first time in several quarters, while CCD and automotive vehicles showed solid growth during the quarter. In terms of advertising formats and channels, video, which includes CCD, continued to represent over 66% of advertising spend on the platform. As Scott mentioned, streaming audio and digital out of home continued to perform exceptionally well in the quarter, with more and more customers engaging with these emerging channels. The end-of-the-year APM exchange for doctor customers increased to 6% for 17 monthly customers on a year-over-year basis. Advertisement for doctor customers also increased 9% on a year-over-year basis, and for 10% of customers spent on average, we earned three times more than for site customers in 2022. Non-GAAP operating expenses, which are defined as the difference between contribution of staff and objections of staff, totaled $30.7 million in the quarter, representing a year-over-year decrease of 1% and a quarter-over-quarter decrease of 9%. During the quarter, we clearly managed costs, reducing our workforce by a whopping 18% in December, which significantly improved the quality of the secondary spending. As Chris mentioned, at the same time, we continued investing in our product and engineering teams to further advance our efforts toward our goal of developing an autonomous advertising platform. Our actions in Q4 realigned our costs with our top priorities for 2023. For the fourth quarter, we generated a deficit through the DAB 2.6 million, which exceeded the midpoint of our guidance by approximately $3 million. The bulk of unexpected results is due to the previously mentioned cost optimization actions that we took during the second half of the year. From a liquidity perspective, we ended the quarter with $207 million in cash for a $3.35 per year outstanding. We also had $238 million of positive monthly capital and no debt. We believe our strong balance sheet is working just extremely well to take advantage of this significant market opportunity in front of us. With that, I'll now turn to our Guidance 51 and our Survival Color and our Cold Year 2022 expectations. Many of our customers are navigating a challenging macroeconomic environment that fears a volatile demand environment. Given this uncertainty, we believe there could be a wider range of outcomes for P1, which is reflected in our P1 guidance. For the first quarter of 2022, we expect revenue in the range of $39 to $42 million, which will represent a year-on-year decline of 5% at the midpoint of Biden. and to use my tax in the range of 25.5, 27.5 million, which represents a yearly new decline of 4% at the good point of value. Non-GAAP operating expenses of approximately 30 million, which represents a yearly new decline of 5% and a quarter of a forward decline of 2%. And adjusted to that in the range of negative 2.5 to negative 4.5 million. A couple of general observations about our guide to Q1 and our outlook for the year. Q1 2022 is a strong quarter for violence, creating a tough comp for the current quarter. As I mentioned earlier in Q1 of last year, we saw 44% growth in abstinence for us at that time. As we move through 2022, yearly response will become easier as we begin seeing the impact of the macro research beginning in June of last year. As such, we expect improving revenue and contribution of stock brokerage as we move through the year. We also expect the debt-to-revenue data to continue to grow as we move through 2022, driven by the cost reduction initiatives in the second half of 2022 and increasing revenue and contribution of stock. We intend to closely monitor expenses in 2022 while continuing to make focused strategic investments with the goal of generating meaningful positive results in 2020. In closing, while macroeconomic uncertainties are contributing to a challenging market, we continue to be encouraged by the intentional adoption of our platform, and we remain confident in our ability to deliver long-term, top-line growth and e-to-box sanctions. We believe our plans for digital integration will enable us to successfully capitalize on the growing market opportunity in front of us. We are confident that our strong balance sheets, strategic investments in technology, and disciplined cost management will reach challenging times, producing us to continue growing our market share in the fast-growing programmatic market. That concludes our prepared remarks today. And with that, I will now turn it back over to the operator to open the video to questions. Operator?