Trade Desk, Inc.

Listed Company

TTDCIK 0001671933NasdaqLarge AcceleratedServices-Computer Programming, Data Processing, Etc.NevadaFY ends Dec 31

Period

FY 2025

Revenue

$2.90B

Net Income

$443.30M

Total Assets

$6.15B

Equity

$2.48B

Shares Out

—

Op. Cash Flow

$992.72M

Business

Trade Desk, Inc. provides a self‑service, cloud‑based ad‑buying platform that enables clients to plan, manage, optimize and measure data‑driven digital advertising campaigns programmatically. The company offers platform access for omnichannel campaign execution across connected television (CTV), video, display, audio and native formats, along with data management, measurement, reporting, AI-driven optimization, private marketplace support and APIs for customization. Its operations are organized around serving the buy side—advertisers, advertising agencies and service providers—through ongoing master services agreements. The Trade Desk distributes its platform globally through integrations with ad exchanges, publishers, supply‑side platforms and third‑party data vendors across digital channels and devices.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	2,896	2,445	1,946	1,578	1,196
Platform operations	619	472	366	281	222
Sales and marketing	644	547	448	338	249
Technology and development	525	463	412	320	226
General and administrative	518	536	520	525	375
Total operating expenses	2,307	2,018	1,746	1,464	1,072
Income from operations	589	427	200	114	125
Interest income, net	−69	−79	−69	−13	1
Foreign currency exchange loss (gain), net	−717,000	−1	993,000	−961,000	2
Total other income, net	−69	−80	−68	−14	3
Income before income taxes	659	507	268	127	122
Provision for income taxes	215	114	89	74	−16
Net income	443	393	179	53	138
Basic (in dollars per share)	0.91	0.8	0.37	0.11	0.29
Diluted (in dollars per share)	0.9	0.78	0.36	0.11	0.28
Basic (in shares)	488	491	489	487	477
Diluted (in shares)	494	502	500	500	499

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	658	1,369	895	1,031	754
Short-term investments, net	645	552	485	416	205
Accounts receivable, net of allowance for credit losses of $12,199 and $11,244 as of December 31, 2025 and 2024, respectively	3,770	3,330	2,870	2,347	2,021
Prepaid expenses and other current assets	188	85	63	52	112
TOTAL CURRENT ASSETS	5,261	5,336	4,314	3,846	3,092
Property and equipment, net	397	209	161	174	136
Operating lease assets	342	264	198	220	234
Deferred income taxes	56	230	155	94	68
Other assets, non-current	98	72	61	47	48
TOTAL ASSETS	6,153	6,112	4,889	4,381	3,577
Accounts payable	3,008	2,631	2,317	1,871	1,656
Accrued expenses and other current liabilities	182	178	138	105	101
Operating lease liabilities	76	64	56	52	46
TOTAL CURRENT LIABILITIES	3,266	2,873	2,511	2,029	1,803
Operating lease liabilities, non-current	360	248	180	209	238
Other liabilities, non-current	43	42	33	27	8
TOTAL LIABILITIES	3,669	3,163	2,724	2,265	2,050
Commitments and contingencies (Note 13)	0	0	0	0	0
Preferred stock, par value $0.000001; 100,000 shares authorized, zero shares issued and outstanding as of December 31, 2025 and 2024	0	0	0	0	0
Common stock, par value $0.000001 Class A, 1,000,000 shares authorized; 432,814 and 452,182 shares issued and outstanding as of December 31, 2025 and 2024, respectively Class B, 95,000 shares authorized; 43,109 and 43,919 shares issued and outstanding as of December 31, 2025 and 2024, respectively	0	0	0	0	0
Additional paid-in capital	3,075	2,595	1,967	1,450	915
Retained earnings (accumulated deficit)	−591	354	197	666	612
TOTAL STOCKHOLDERS EQUITY	2,484	2,949	2,164	2,115	1,527
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	6,153	6,112	4,889	4,381	3,577

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	443	393	179	53	138
Depreciation and amortization expense	116	87	80	54	42
Stock-based compensation expense	491	495	492	499	337
Deferred income taxes	168	−77	−62	−12	−17
Noncash lease expense	70	57	49	44	40
Other	−19	−7	−17	622,000	6
Accounts receivable	−433	−474	−554	−292	−444
Prepaid expenses and other current and non-current assets	−77	−39	−27	51	2
Accounts payable	291	299	475	187	309
Accrued expenses and other current and non-current liabilities	7	47	36	8	8
Operating lease liabilities	−64	−42	−53	−48	−44
Net cash provided by operating activities	993	739	598	549	379
Purchases of investments	−954	−680	−608	−553	−278
Maturities of investments	876	629	556	339	253
Purchases of property and equipment	−197	−98	−47	−84	−55
Capitalized software development costs	−13	−9	−8	−8	−5
Business acquisition	−4	0	0	—	—
Net cash used in investing activities	−293	−158	−108	−304	−94
Repurchases of Class A common stock	−1,380	−235	−647	0	0
Proceeds from exercise of stock options	24	216	61	48	61
Proceeds from employee stock purchase plan	43	50	38	33	29
Taxes paid relating to net settlement of restricted stock	−98	−139	−79	−49	−57
Net cash used in financing activities	−1,411	−108	−626	32	32
Increase (decrease) in cash and cash equivalents	−711	474	−135	276	317
Cash paid for income taxes, net of refunds	150	159	152	4	4
Cash paid for interest	993,000	986,000	967,000	995,000	518,000
Cash paid for operating lease liabilities	79	68	63	58	53
Operating lease assets obtained in exchange for operating lease liabilities	150	132	27	30	25
Capitalized assets financed by accounts payable	104	21	5	2	6
Assets acquired in a business combination, included in other assets, non-current, in exchange for Class A common stock	10	0	0	—	—
Tenant improvements paid by lessor	11	7	0	1	0
Stock-based compensation included in capitalized software development costs	8	6	5	4	3
Repurchases of Class A common stock in accrued expenses and other current liabilities	10	2	903,000	—	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro