Trade Desk, Inc. (TTD)
The Trade Desk, Inc. is a global technology company that provides a self-service, cloud-based platform. This platform enables advertising buyers to efficiently create, manage, and optimize data-driven digital ad campaigns across diverse formats and channels, including display, video, audio, native, and social media, reaching audiences on computers, mobile devices, and connected TVs. In addition to the platform, the company offers various data and value-added services. Their primary clients are advertising agencies and other service providers who represent advertisers. The Trade Desk was founded in 2009 and is headquartered in Ventura, California.
Sector: Services-Computer Programming, Data Processing, Etc.
Industry: Advertising Agencies
The Trade Desk, Inc.
NASDAQ:TTDTechnology · Software - Services
+0.94%$12.93
CLOSED · Nov 6Prev close$12.81+0.94%Close$12.93+0.38%AH close$12.98
AH$12.98+0.38%vs close
Mkt Cap$6.11B
Float416.24M
O/S472.8M
VOL14.36M sh
$ Vol$184.19M
RVOL0.99×
Inst Own77.4%
SI20.0%
Dilution
Financials Summary
Revenue$2.9B
Net Income$443.3M
Total Assets$6.15B
Free Cash Flow$795.71M
Debt & Equity
Debt 15%
Equity 85%
Total Debt$436.33M
Total Equity$2.48B
Shares Outstanding
Short Interest
Split History1 split
- 10:1Forward splitJun 17, 20211 share → 10
Balance Sheet Details
Assets$6.15B
Liabilities$3.67B
Accounts Receivable$3.95B
Accounts Payable$3.01B
Inventory$0
PP&E (Net)$738.86M
Goodwill$0
Intangible Assets$19.93M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Revenue | $2.9B | $2.44B | $1.95B | $1.58B | $1.2B | $836.03M | $661.06M | $477.29M | $308.22M | $202.93M | $113.84M | $44.55M |
| YoY Growth | 18.5% | 25.6% | 23.3% | 31.9% | 43.1% | 26.5% | 38.5% | 54.9% | 51.9% | 78.3% | 155.5% | - |
| Cost of Revenue | $619.07M | $472.01M | $365.6M | $281.12M | $221.55M | $178.81M | $156.18M | $114.1M | $66.23M | $39.88M | $22.97M | $12.56M |
| Gross Profit | $2.28B | $1.97B | $1.58B | $1.3B | $974.91M | $657.22M | $504.88M | $363.2M | $241.99M | $163.05M | $90.87M | $31.99M |
| Gross Margin | 78.6% | 80.7% | 81.2% | 82.2% | 81.5% | 78.6% | 76.4% | 76.1% | 78.5% | 80.3% | 79.8% | 71.8% |
| Research and Development | $525.14M | $463.32M | $411.79M | $319.88M | $226.14M | $166.65M | $116.75M | $83.89M | $52.81M | $27.31M | $12.82M | $7.25M |
| Selling, General, and Administrative | $1.16B | $1.08B | $968.25M | $863.14M | $623.96M | $346.36M | $275.93M | $171.98M | $119.83M | $78.22M | $40.07M | $23.98M |
| Other | $0 | $0 | $0 | $0 | -$2.78M | -$305K | $0 | $0 | $0 | $0 | -$3K | $0 |
| Total Operating Expenses | $1.69B | $1.55B | $1.38B | $1.18B | $850.1M | $513.01M | $392.68M | $255.87M | $172.63M | $105.53M | $52.89M | $31.23M |
| Operating Income (EBIT) | $589.32M | $427.17M | $200.48M | $113.65M | $124.82M | $144.21M | $112.2M | $107.32M | $69.36M | $57.52M | $37.98M | $764K |
| Operating Margin | 20.3% | 17.5% | 10.3% | 7.2% | 10.4% | 17.2% | 17.0% | 22.5% | 22.5% | 28.3% | 33.4% | 1.7% |
| Interest Expense | $0 | $0 | $0 | $0 | $1.03M | $0 | $0 | $0 | $1.79M | $3.08M | $1.14M | $843K |
| Interest Income | $68.72M | $78.84M | $68.51M | $12.76M | $0 | $656K | $4.72M | $333K | $93K | $0 | $0 | $0 |
| Other Income (Expense) | $69.43M | $80.14M | $67.52M | $13.72M | -$2.78M | -$305K | $4.02M | -$1.59M | -$5.73M | -$13.68M | -$8.13M | -$1.71M |
| Income Before Tax (EBT) | $658.75M | $507.3M | $268M | $127.37M | $122.04M | $143.9M | $116.22M | $105.74M | $63.63M | $43.83M | $29.86M | -$943K |
| Income Tax Expense | $215.45M | $114.23M | $89.06M | $73.98M | -$15.73M | -$98.41M | $7.9M | $17.6M | $12.83M | $23.35M | $13.93M | -$948K |
| Net Income | $443.3M | $393.08M | $178.94M | $53.38M | $137.76M | $242.32M | $108.32M | $88.14M | $50.8M | $20.48M | $15.93M | $5K |
| Net Income Margin | 15.3% | 16.1% | 9.2% | 3.4% | 11.5% | 29.0% | 16.4% | 18.5% | 16.5% | 10.1% | 14.0% | 0.0% |
| Supplementary Data | ||||||||||||
| EPS | 0.92 | 0.80 | 0.37 | 0.11 | 0.29 | 0.52 | 0.24 | 0.19 | 0.13 | 0.05 | 0.02 | 0.00 |
| Diluted EPS | 0.91 | 0.78 | 0.36 | 0.11 | 0.28 | 0.49 | 0.23 | 0.19 | 0.12 | 0.05 | 0.01 | 0.00 |
| Weighted Average OS | 479.99M | 490.88M | 489.26M | 486.94M | 476.85M | 462.87M | 445.33M | 457.93M | 402.62M | 384.09M | 472.82M | 130.88M |
| EBITDA | $774.54M | $594.79M | $348.41M | $181.79M | $165.28M | $172.84M | $133.86M | $119.14M | $76.56M | $50.71M | $32.82M | $580K |
| EBITDA Margin | 26.7% | 24.3% | 17.9% | 11.5% | 13.8% | 20.7% | 20.2% | 25.0% | 24.8% | 25.0% | 28.8% | 1.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Assets | ||||||||||||
| Current Assets | ||||||||||||
| Cash and Cash Equivalents | $658.17M | $1.37B | $895.13M | $1.03B | $754.15M | $437.35M | $130.88M | $207.23M | $155.95M | $133.4M | $4.05M | $17.32M |
| Short-Term Investments | $644.88M | $552.03M | $485.16M | $416.08M | $204.63M | $186.69M | $124.11M | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $1.3B | $1.92B | $1.38B | $1.45B | $958.78M | $624.04M | $254.99M | $207.23M | $155.95M | $133.4M | $4.05M | $17.32M |
| Accounts Receivable | $3.95B | $3.33B | $2.87B | $2.35B | $2.02B | $1.58B | $1.17B | $834.76M | $599.57M | $377.24M | $191.94M | $78.36M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $12.75M | $84.63M | $63.35M | $51.84M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $5.26B | $5.34B | $4.31B | $3.85B | $3.09B | $2.31B | $1.45B | $1.06B | $765.81M | $516.4M | $199.8M | $97.09M |
| Long-Term Assets | ||||||||||||
| Property, Plant & Equipment Net | $738.86M | $473.09M | $359.15M | $394.15M | $369.95M | $364.01M | $237.46M | $33.05M | $17.41M | $14.78M | $6.63M | $2.38M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $19.93M | $14.62M | $16.9M | $18.54M | $14.33M | $11.51M | $9.08M | $8.1M | $4.4M | $2.76M | $1.69M | $739K |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $55.7M | $230.21M | $154.85M | $94.03M | $68.24M | $50.17M | $18.95M | $8.46M | $3.36M | $1.78M | $1.17M | $1.51M |
| Other Long-Term Assets | $77.73M | $57.56M | $43.83M | $28.34M | $33.17M | $17.65M | $14.05M | $11.74M | $6.19M | $1.88M | $942K | $520K |
| Total Long-Term Assets | $892.22M | $775.49M | $574.73M | $535.06M | $485.69M | $443.33M | $279.54M | $61.35M | $31.35M | $21.19M | $10.43M | $5.15M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $6.15B | $6.11B | $4.89B | $4.38B | $3.58B | $2.75B | $1.73B | $1.12B | $797.16M | $537.6M | $210.23M | $102.24M |
| Liabilities | ||||||||||||
| Current Liabilities | ||||||||||||
| Accounts Payable | $3.01B | $2.63B | $2.32B | $1.87B | $1.66B | $1.35B | $868.62M | $669.15M | $490.38M | $321.16M | $108.46M | $58.29M |
| Short-Term Debt | $76.36M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $181.99M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $68K |
| Total Current Liabilities | $3.27B | $2.87B | $2.51B | $2.03B | $1.8B | $1.47B | $930.37M | $713.99M | $518.53M | $344.14M | $118.9M | $62.83M |
| Long-Term Liabilities | ||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $27M | $25.85M | $44.89M | $14.93M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $42.86M | $41.62M | $33.26M | $27.49M | $8.28M | $11.26M | $11M | $9.31M | $6.05M | $3.23M | $8.1M | $2.61M |
| Total Long-Term Liabilities | $402.83M | $289.34M | $213.63M | $236.02M | $246.73M | $265.82M | $185.87M | $9.31M | $33.05M | $29.08M | $52.98M | $17.54M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $3.67B | $3.16B | $2.72B | $2.27B | $2.05B | $1.74B | $1.12B | $723.3M | $551.58M | $373.22M | $171.88M | $80.37M |
| Stockholders' Equity | ||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $24.2M | $28M |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Retained Earnings | -$590.91M | $354.25M | $196.95M | $665.51M | $612.13M | $474.37M | $232.44M | $124.12M | $35.98M | -$14.82M | $13.1M | -$6.62M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $3.08B | $2.59B | $1.97B | $1.45B | $915.18M | $538.78M | $380.08M | $270.45M | $209.6M | $179.2M | $25.24M | $28.48M |
| Total Equity | $2.48B | $2.95B | $2.16B | $2.12B | $1.53B | $1.01B | $612.52M | $394.57M | $245.58M | $164.38M | $38.35M | $21.87M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $6.15B | $6.11B | $4.89B | $4.38B | $3.58B | $2.75B | $1.73B | $1.12B | $797.16M | $537.6M | $210.23M | $102.24M |
| Supplementary Data | ||||||||||||
| Total Debt | $436.33M | $312.21M | $235.89M | $260.96M | $284.6M | $292.43M | $189.45M | $0 | $27M | $25.85M | $44.89M | $14.93M |
| Net Debt | -$221.84M | -$1.06B | -$659.24M | -$769.55M | -$469.56M | -$144.92M | $58.57M | -$207.23M | -$128.95M | -$107.55M | $40.84M | -$2.39M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Operating Activities | ||||||||||||
| Net Income | $443.3M | $393.08M | $178.94M | $53.38M | $137.76M | $242.32M | $108.32M | $88.14M | $50.8M | $20.48M | $15.93M | $5K |
| Depreciation & Amortization | $115.78M | $87.49M | $80.42M | $54.42M | $42.22M | $28.63M | $21.66M | $11.82M | $7.21M | $3.8M | $1.83M | $680K |
| Deferred Income Tax | $167.69M | -$76.9M | -$61.6M | -$11.51M | -$16.78M | -$31.22M | -$10.49M | -$5.1M | -$1.58M | -$607K | $338K | -$1.51M |
| Stock-Based Compensation | $490.63M | $494.7M | $491.62M | $498.64M | $337.41M | $111.78M | $80.76M | $42.21M | $21.32M | $5.06M | $374K | $107K |
| Changes in Working Capital: | ||||||||||||
| Accounts Receivable | -$432.72M | -$474.23M | -$554.01M | -$291.75M | -$444.34M | -$418.05M | -$331.37M | -$239.9M | -$224.64M | -$187.74M | -$114.17M | -$53.31M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $291.07M | $298.92M | $475.46M | $187.12M | $309.41M | $481.31M | $191.76M | $177.68M | $171.79M | $209.48M | $50.02M | $35.71M |
| Other Working Capital | -$133.48M | -$33.97M | -$44.05M | $10.48M | -$34.75M | -$48.3M | -$23.09M | $6.74M | $3.34M | $12.05M | $2.44M | $2.63M |
| Total Working Capital Change | -$275.13M | -$209.28M | -$122.6M | -$94.15M | -$169.68M | $14.96M | -$162.7M | -$55.49M | -$49.51M | $33.79M | -$61.71M | -$14.97M |
| Other Non-Cash Items | $50.45M | $50.38M | $31.54M | $47.94M | $47.57M | $38.61M | $22.66M | $5.02M | $2.99M | $12.51M | $6.68M | $847K |
| Net Cash from Operating | $992.72M | $739.46M | $598.32M | $548.73M | $378.51M | $405.07M | $60.2M | $86.6M | $31.22M | $75.03M | -$36.56M | -$14.85M |
| Investing Activities | ||||||||||||
| Capital Expenditures | -$197.01M | -$98.24M | -$46.79M | -$84.16M | -$54.8M | -$74.06M | -$35.69M | -$19.8M | -$10.11M | -$6.88M | -$5.13M | -$832K |
| Acquisitions | -$4.35M | $0 | $0 | $0 | -$13.26M | $0 | $0 | $0 | -$3M | $0 | $0 | $0 |
| Purchases of Investments | -$954.27M | -$679.54M | -$608.38M | -$553.29M | -$278.39M | -$230.76M | -$212.78M | $0 | $0 | $0 | $0 | -$551K |
| Sales of Investments | $875.75M | $629.09M | $555.81M | $340.81M | $257.98M | $167.6M | $89.54M | $0 | $0 | $0 | $551K | $0 |
| Other Investing Activities | -$12.75M | -$8.82M | -$8.23M | -$7.72M | -$5.17M | -$6.05M | -$4.91M | -$5.4M | -$2.95M | -$2.34M | -$1.8M | -$825K |
| Net Cash from Investing | -$292.63M | -$157.51M | -$107.59M | -$304.37M | -$93.64M | -$143.27M | -$163.84M | -$25.19M | -$16.06M | -$9.22M | -$6.38M | -$2.21M |
| Financing Activities | ||||||||||||
| Debt Repaid | - | - | - | - | - | - | - | - | - | $30M | -$15M | -$11.5M |
| Common Stock Issuance | $66.7M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $78.12M | $0 | $0 |
| Common Stock Repurchases | -$1.38B | -$234.78M | -$646.6M | $0 | $0 | $0 | $0 | $0 | $0 | -$54.28M | -$39K | -$561K |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$97.65M | $127.17M | $20.49M | $31.99M | $31.93M | $44.68M | $27.28M | $16.87M | $7.39M | -$1.14M | -$293K | -$286K |
| Net Cash from Financing | -$1.41B | -$107.61M | -$626.11M | $31.99M | $31.93M | $44.68M | $27.28M | -$10.13M | $7.39M | $63.54M | $29.67M | $28M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$711.29M | $474.33M | -$135.38M | $276.35M | $316.8M | $306.48M | -$76.36M | $51.28M | $22.55M | $129.35M | -$13.27M | $10.95M |
| Supplementary Data | ||||||||||||
| Operating Cash Flow | $992.72M | $739.46M | $598.32M | $548.73M | $378.51M | $405.07M | $60.2M | $86.6M | $31.22M | $75.03M | -$36.56M | -$14.85M |
| Capital Expenditure | -$197.01M | -$107.06M | -$55.02M | -$91.89M | -$59.97M | -$80.11M | -$40.6M | -$25.19M | -$13.06M | -$9.22M | -$6.93M | -$1.66M |
| Free Cash Flow | $795.71M | $632.39M | $543.3M | $456.85M | $318.54M | $324.95M | $19.6M | $61.41M | $18.16M | $65.81M | -$43.49M | -$16.5M |
| Cash at Beginning | $1.37B | $895.13M | $1.03B | $754.15M | $437.35M | $130.88M | $207.23M | $155.95M | $133.4M | $4.05M | $17.32M | $6.37M |
| Cash at End | $658.17M | $1.37B | $895.13M | $1.03B | $754.15M | $437.35M | $130.88M | $207.23M | $155.95M | $133.4M | $4.05M | $17.32M |