Earnings (Loss) Per Share/Unit

12 Months Ended

Dec. 31, 2021

11. Earnings (Loss) Per Share/Unit

Prior to the Reorganization Transactions that occurred on February 12, 2021, the Viant Technology LLC membership structure included certain convertible preferred units and common units. As a result of the Reorganization Transactions, Class B units of Viant Technology LLC are exchangeable in the future for Class A common stock of the Company. As the conversion of Viant Technology LLC preferred and common units to Class B units was not done in a proportionate manner with respect to the rights and economic interests of the former Viant Technology LLC unit holders compared to those of the new Class B unit/shareholders in Viant Technology LLC and Viant Technology Inc., we do not believe it is appropriate to retrospectively adjust these units. Accordingly, the earnings per unit calculation presented for the years ended December 31, 2020 and 2019 reflect units of the membership structure prior to the Reorganization Transactions.

For the year ended December 31, 2021, basic net loss per share has been calculated by dividing net loss attributable to Class A common stockholders for the period subsequent to the Reorganization Transactions, by the weighted average number of shares of Class A common stock outstanding for the same period. Shares of Class A

common stock are weighted for the portion of the period in which the shares were outstanding. Diluted net loss per share has been calculated in a manner consistent with that of basic net loss per share while considering all potentially dilutive shares of Class A common stock outstanding during the period.

For the years ended December 31, 2020 and 2019, basic earnings (loss) per unit represents net income (loss) divided by the weighted-average number of units outstanding. Diluted net income (loss) per share has been computed in a manner consistent with that of basic net loss per share while considering all shares of potentially dilutive common units that were outstanding during the period, inclusive of the convertible preferred units using the if-converted method and the incentive common units using the treasury stock method, if dilutive. For the year ended December 31, 2020, there were no potential dilutive units related to incentive common units as they were all issued as of the beginning of the year.

The undistributed earnings for year ended December 31, 2020 have been allocated based on the participation rights of the convertible preferred and common units as if the earnings for the period have been distributed. As the participation in distributed and undistributed earnings is identical for both classes, the distributed and undistributed earnings are allocated on a proportionate basis.

The following table presents the calculation of basic and diluted net earnings (loss) per share/unit for the year ended December 31, 2021, the period following the Reorganization Transactions, and for the years ended December 31, 2020 and 2019. See Note 2 for additional information related to basic and diluted earnings (loss) per share/unit.

	Year Ended December 31,
	2021			2020			2019
	(in thousands, except per unit data)
Numerator
Net income (loss)	$	(37,609	)	$	20,638		$	9,924
Deemed contribution of 2016 convertible preferred unit interest		—			—			45,000
Deemed dividend upon issuance of 2019 convertible preferred units		—			—			(27,558	)
Adjusted net income (loss) attributable to all unitholders		(37,609	)		20,638			27,366
Less: Dividend paid to preferred unitholders		—			(3,000	)		—
Adjusted net income (loss) attributable to common unitholders		(37,609	)		17,638			27,366
Less: Dividend paid to common unitholders		—			(2,000	)		—
Undistributed earnings (loss) attributable to all unitholders		(37,609	)		15,638			27,366
Less: Undistributed earnings attributable to participating securities		—			(9,383	)		(18,787	)
Less: Net loss attributable to noncontrolling interests		(29,867	)		—			—
Net income (loss) attributable to Viant Technology Inc./common unitholders	$	(7,742	)	$	6,255		$	8,579
Denominator
Weighted-average shares of Class A common stock/units outstanding—basic		12,364			400			274
Effect of dilutive securities:
Convertible preferred units		—			600			600
Incentive common units		—			—			126
Weighted-average shares of Class A common stock/units outstanding—diluted		12,364			1,000			1,000
Earnings (loss) per Class A common stock/unit—basic
Distributed earnings per unit—basic	$	—		$	5.00		$	—
Undistributed earnings (loss) per unit—basic		(0.63	)		15.64			31.31
Total earnings (loss) per Class A common stock/unit—basic	$	(0.63	)	$	20.64		$	31.31
Earnings (loss) per Class A common stock/unit—diluted
Total earnings (loss) per Class A common stock/unit—diluted	$	(0.63	)	$	20.64		$	27.37
Anti-dilutive shares/units excluded from earnings (loss) per share of Class A common stock/unit—diluted:
Convertible preferred units		—			—			—
Incentive common units		—			—			—
Restricted stock units		3,033			—			—
Nonqualified stock options		220			—			—
Shares of Class B common stock		47,107			—			—
Total shares excluded from earnings (loss) per share of Class A common stock/unit—diluted		50,360			—			—