Trade Desk, Inc.
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TTD Q3 2025 request
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| Metric | Q3 2025 | Q3 2024 | YoY |
|---|---|---|---|
| Revenue | 739,433 | 628,016 | +17.7% |
| Cost of Revenue | 162,154 | 122,656 | +32.2% |
| Sales & Marketing | 156,830 | 140,296 | +11.8% |
| Research & Development | 127,893 | 117,705 | +8.7% |
| General & Administrative | 131,337 | 138,878 | -5.4% |
| Total Costs & Expenses | 578,214 | 519,535 | +11.3% |
| Operating Income | 161,219 | 108,481 | +48.6% |
| Interest Income Expense Net | -16,490 | -19,408 | +15.0% |
| Foreign Currency Transaction Gain Loss Before Tax | -1,810 | 711 | -354.6% |
| Non-Operating Income (Expense) | -18,300 | -18,697 | +2.1% |
| Income Before Taxes | 179,519 | 127,178 | +41.2% |
| Income Tax Expense (Benefit) | 63,972 | 33,020 | +93.7% |
| Net Income | 115,547 | 94,158 | +22.7% |
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| Retained Earnings | 115,547 | 94,158 | +22.7% |
| EPS (Basic) | 0.24 | 0.19 | +26.3% |
| EPS (Diluted) | 0.23 | 0.19 | +21.1% |
| Wtd Avg Shares (Basic) | 487,729 | 491,614 | -0.8% |
| Wtd Avg Shares (Diluted) | 492,984 | 502,563 | -1.9% |
| Interest Expense | 356 | 374 | -4.8% |
Balance Sheet
| Metric | Q3 2025 | Q3 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 653,134 | 1,221,475 | -46.5% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level1 · Money Market Funds | 319,039 | 934,535 | -65.9% |
| Fair Value Inputs Level2 · Commercial Paper | 91,262 | 41,814 | +118.3% |
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| Cash | 242,833 | 245,126 | -0.9% |
| Short-Term Investments | 792,313 | 510,290 | +55.3% |
Show Fair Value Hierarchy breakouts |
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| Fair Value Inputs Level2 · Commercial Paper | 237,897 | 140,141 | +69.8% |
| Fair Value Inputs Level2 · Corporate Debt Securities | 373,439 | 240,285 | +55.4% |
| Fair Value Inputs Level2 · US Government Agencies Debt Securities | 180,977 | 129,864 | +39.4% |
| Accounts Receivable | 3,478,338 | 2,989,387 | +16.4% |
| Prepaid Expenses & Other Current Assets | 196,501 | 117,221 | +67.6% |
| Total Current Assets | 5,120,286 | 4,838,373 | +5.8% |
| Non-Current Assets | |||
| Property, Plant & Equipment | 322,507 | 197,973 | +62.9% |
| Operating Lease Right-of-Use Assets | 287,104 | 242,431 | +18.4% |
| Deferred Tax Assets | 110,514 | 154,849 | -28.6% |
| Other Non-Current Assets | 99,990 | 71,699 | +39.5% |
| Total Assets | 5,940,401 | 5,505,325 | +7.9% |
| Current Liabilities | |||
| Accounts Payable | 2,761,261 | 2,409,773 | +14.6% |
| Accrued Liabilities | 160,381 | 142,459 | +12.6% |
| Operating Lease Liability Current | 73,129 | 62,858 | +16.3% |
| Total Current Liabilities | 2,994,771 | 2,615,090 | +14.5% |
| Non-Current Liabilities | |||
| Operating Lease Liabilities | 302,848 | 230,355 | +31.5% |
| Other Non-Current Liabilities | 41,996 | 34,130 | +23.0% |
| Total Liabilities | 3,339,615 | 2,879,575 | +16.0% |
| Stockholders' Equity | |||
| Additional Paid In Capital Common Stock | 2,965,231 | 2,397,100 | +23.7% |
| Retained Earnings | -364,445 | 228,650 | -259.4% |
| Total Stockholders' Equity | 2,600,786 | 2,625,750 | -1.0% |
Show Equity Components breakouts |
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| Additional Paid In Capital | 2,965,231 | 2,397,100 | +23.7% |
| Retained Earnings | -364,445 | 228,650 | -259.4% |
| Total Liabilities & Equity | 5,940,401 | 5,505,325 | +7.9% |
Cash Flow Statement
| Metric | YTD Q3 2025 | YTD Q3 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Net Income | 256,354 | 210,847 | +21.6% |
| Depreciation & Amortization | 83,824 | 63,378 | +32.3% |
| Stock-Based Compensation | 378,454 | 365,470 | +3.6% |
| Deferred Income Taxes And Tax Credits | 118,163 | — | — |
| Noncash Lease Expense | 51,234 | 41,522 | +23.4% |
| Provision For Doubtful Accounts | 1,498 | 837 | +79.0% |
| Other Non-Cash Items | -13,841 | -11,901 | -16.3% |
| Change in Accounts Receivable | -149,053 | -125,711 | -18.6% |
| Change in Prepaid & Other Assets | -91,574 | -68,490 | -33.7% |
| Change in Accounts Payable | 120,381 | 87,175 | +38.1% |
| Increase Decrease In Accrued Liabilities And Other Operating Liabilities | -26,798 | 8,846 | -402.9% |
| Increase Decrease In Operating Lease Liabilities | -47,510 | -31,918 | -48.9% |
| Net Cash from Operations | 681,132 | 540,055 | +26.1% |
| Investing Activities | |||
| Payments To Acquire Investments | -826,210 | -486,596 | -69.8% |
| Proceeds From Sale Maturity And Collections Of Investments | 597,413 | 475,022 | +25.8% |
| Capital Expenditures | -170,688 | -78,048 | -118.7% |
| Payments To Develop Software | -9,093 | -6,708 | -35.6% |
| Payments To Acquire Businesses Net Of Cash Acquired | -4,350 | — | — |
| Net Cash from Investing | -412,928 | -96,330 | -328.7% |
| Operating Lease Payments | 56,863 | 48,524 | +17.2% |
| Right Of Use Asset Obtained In Exchange For Operating Lease Liability | 76,052 | 94,410 | -19.4% |
| Repurchase Of Class A Common Stock Accrued Not Yet Paid | 19,407 | 1,723 | +1026.3% |
| Tenant Improvements Paid By Lessor Value | 14,379 | — | — |
| Noncash Or Part Noncash Acquisition Other Assets Acquired1 | 10,299 | — | — |
| Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount | 5,799 | 4,316 | +34.4% |
| Financing Activities | |||
| Share Repurchases | -957,540 | -177,428 | -439.7% |
| Proceeds From Stock Options Exercised | 20,287 | 127,690 | -84.1% |
| Proceeds From Stock Plans | 32,446 | 30,122 | +7.7% |
| Tax Withholding for Share Compensation | -79,726 | -97,763 | +18.4% |
| Net Cash from Financing | -984,533 | -117,379 | -738.8% |
| Supplemental | |||
| Unpaid Capital Expenditures | 30,511 | 10,217 | +198.6% |
| Other Cash Flow | |||
| Net Change in Cash | -716,329 | 326,346 | -319.5% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations | 653,134 | 1,221,475 | -46.5% |
Values in thousands USD. Source: SEC EDGAR 10-Q filing.