Trade Desk, Inc.TTD

Trade Desk, Inc. Segments Disclosure

10-KFiled Feb 27, 20262 min read
Note 12—Segment and Geographic Information
The Company’s chief operating decision maker is its Chief Executive Officer (“CEO”), who manages the Company and reviews financial information on a consolidated basis. The Company has one primary business activity, its advertising technology platform, as described in Note 1 – Nature of Operations. The platform is used by clients globally in a similar manner across geographies, channels and verticals. Accordingly, the Company operates in one operating segment on a consolidated basis: advertising technology platform.
The Company’s segment generates revenue from clients who enter into agreements with the Company to use its self-service, cloud-based ad buying platform. The accounting policies of the advertising technology platform segment are the same as those described in Note 2 – Basis of Consolidation and Summary of Significant Accounting Policies.
Consolidated net income in the consolidated statements of operations is the measure of financial profit and loss most closely aligned with generally accepted accounting principles that is used by the CEO to assess performance against the Company’s annual financial plan as well as to allocate resources, such as decisions regarding headcount goals, significant contracts, internal investments and other items.
The CEO is not regularly provided significant expense information at a greater level of disaggregation than those expenses reported on the consolidated statements of operations. The nature of those expenses is disclosed in Note 2 – Basis of Consolidation and Summary of Significant Accounting Policies- Operating Expenses.
As the Company only has one operating segment, revenue, expenses and net income are disclosed in the consolidated statements of operations, and depreciation and amortization expense is disclosed in the consolidated statements of cash flows. Significant non-cash items and expenditures for long-lived assets are disclosed in the consolidated statements of cash flows and in Note 10 – Stock-Based Compensation. Segment assets are reported on the consolidated balance sheets as total assets. The Company does not have intra-entity sales or transfers. The following includes interest expense and interest income (in thousands):
Year Ended December 31,
202520242023
Interest expense$1,790 $1,514 $1,656 
Interest income(70,507)(80,356)(70,164)
Interest income, net$(68,717)$(78,842)$(68,508)
Revenue presented by principal geographic area, based on the address of the clients or client affiliates, was as follows (in thousands):
Year Ended December 31,
202520242023
United States$2,476,683 $2,133,502 $1,696,911 
International419,601 311,329 249,209 
Total$2,896,284 $2,444,831 $1,946,120 
Amounts presented by principal geographic area for the years ended December 31, 2024 and 2023 have been recast to reflect current-year presentation based on revenue. Supplier Components included as a reduction to revenue but not directly recorded to a geographic area were attributed based on the Gross Billings in the geographic area.
Property and equipment, net and operating lease assets presented by principal geographic area, were as follows (in thousands):
As of December 31,
20252024
United States$652,276 $366,188 
International86,585 106,905 
Total$738,861 $473,093 

Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Feb 21, 2025
2023Feb 15, 2024
2022Feb 15, 2023
2021Feb 16, 2022
2020Feb 19, 2021
2019Feb 28, 2020
2018Feb 22, 2019
2017Feb 28, 2018
2016Feb 16, 2017

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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