Viant Technology Inc. Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||||||||
| 2024 | 2023 | 2022 | |||||||||||||||
| Numerator | |||||||||||||||||
| Net income (loss) | $ | 12,452 | $ | (9,943) | $ | (48,089) | |||||||||||
| Less: Net income (loss) attributable to noncontrolling interests | 10,090 | (6,500) | (36,176) | ||||||||||||||
| Net income (loss) attributable to Viant Technology Inc.—basic | $ | 2,362 | $ | (3,443) | $ | (11,913) | |||||||||||
| Add back: Reallocation of net income (loss) attributable to noncontrolling interest from the assumed exchange of dilutive securities for Class A common stock | 712 | — | — | ||||||||||||||
| Income tax benefit (expense) from the assumed exchange of dilutive securities for Class A common stock | (177) | — | — | ||||||||||||||
| Net income (loss) attributable to Viant Technology Inc.—diluted | $ | 2,897 | $ | (3,443) | $ | (11,913) | |||||||||||
| Denominator | |||||||||||||||||
| Weighted-average shares of Class A common stock outstanding—basic | 16,221 | 15,224 | 14,185 | ||||||||||||||
| Effect of dilutive securities: | |||||||||||||||||
| Restricted stock units | 2,125 | — | — | ||||||||||||||
| Nonqualified stock options | 2,120 | — | — | ||||||||||||||
| Weighted-average shares of Class A common stock outstanding—diluted | 20,466 | 15,224 | 14,185 | ||||||||||||||
| Earnings (loss) per share of Class A common stock—basic | $ | 0.15 | $ | (0.23) | $ | (0.84) | |||||||||||
| Earnings (loss) per share of Class A common stock—diluted | $ | 0.14 | $ | (0.23) | $ | (0.84) | |||||||||||
| Anti-dilutive shares excluded from earnings (loss) per share of Class A common stock—diluted: | |||||||||||||||||
| Restricted stock units | — | 3,647 | 3,928 | ||||||||||||||
| Nonqualified stock options | — | 5,736 | 3,661 | ||||||||||||||
| Shares of Class B common stock | 46,754 | 47,032 | 47,082 | ||||||||||||||
| Total shares excluded from earnings (loss) per share of Class A common stock—diluted | 46,754 | 56,415 | 54,671 | ||||||||||||||
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.