TTD · Technology

Trade Desk, Inc.

Ranked earnings events from SEC filings, earnings calls, press releases and news. Full Picture: what to focus on this earnings window

News · 2026-08-07

• Guidance and OutlookImportance 67 · Surprise 76
  The Trade Desk forecast third-quarter 2026 revenue of at least $650 million, versus $739 million in the year-earlier quarter. The implied year-over-year decline is approximately 12%, compared with 3% growth in the…
• Operating Income and MarginsImportance 41 · Surprise 48
  The Trade Desk generated second-quarter adjusted EBITDA of $241 million, representing a 34% margin. Reported EBITDA margin declined from 39% in the comparable prior-year period to 34%. Net income fell 29% year over…
• Competition and Market ShareImportance 40 · Surprise 42
  Third-party analysis said Trade Desk is losing market share to larger advertising platforms despite an advertising market that is reportedly reaccelerating. The company’s pure-play demand-side-platform positioning was…
• Customer Execution ChallengesImportance 40 · Surprise 42
  Reporting characterized Trade Desk’s quarter as affected by execution shortcomings in addition to pressure from large consumer packaged goods and automotive advertisers. Analysts said investors would watch whether the…
• Revenue Performance and MixImportance 25 · Surprise 32
  The Trade Desk reported second-quarter 2026 revenue of $715 million, up 3% year over year and below the company’s guidance of at least $750 million. Revenue missed analysts’ $751 million estimate by $36 million,…

10-Q · 2026-08-06

• Revolving Credit FacilityImportance 89 · Surprise 82
  On April 14, 2026, Trade Desk amended and restated its credit agreement, increasing the revolving facility to $750 million from the prior $450 million facility. The facility includes $100 million of letter-of-credit…
• Capital ExpendituresImportance 65 · Surprise 48
  Trade Desk’s primary investing activities include property and equipment for hosting-capability expansion and capitalized software for platform development. During the six months ended June 30, 2026, it spent $126…
• Liquidity and Capital PositionImportance 60 · Surprise 40
  As of June 30, 2026, working capital was $2.0 billion, including $1.1 billion of cash and cash equivalents and $362 million of short-term marketable securities. International subsidiaries held $92 million of the cash…
• Platform Operations ExpenseImportance 59 · Surprise 48
  Platform operations expense increased 22% year over year to $184.3 million in the second quarter of 2026 and increased 25% to $366.3 million for the first six months. Six-month growth included $31 million of additional…
• Operating Income and MarginsImportance 59 · Surprise 48
  Second-quarter income from operations declined to $101.6 million from $116.8 million, while six-month income from operations declined to $168.2 million from $171.2 million. Net income fell 29% to $64.4 million in the…
• Capital Return ProgramImportance 58 · Surprise 42
  In February 2026, the board authorized an additional $350 million under the existing share-repurchase program, increasing total authorization available for future repurchases to $500 million. Trade Desk repurchased and…
• Contractual ObligationsImportance 56 · Surprise 24
  Total non-cancelable contractual obligations were $939.1 million as of June 30, 2026. Operating lease commitments accounted for $762.2 million, including $44.5 million due during the remainder of 2026 and $717.7…
• Operating Expense TrendsImportance 54 · Surprise 40
  Sales and marketing expense increased 8% to $174.4 million in the second quarter and 10% to $346.6 million for the six months ended June 30, 2026. Six-month sales and marketing personnel costs increased $29 million due…
• Operating Cash Flow TrendsImportance 54 · Surprise 40
  Operating cash flow increased to $545.4 million in the first six months of 2026 from $456.4 million in the prior-year period. The 2026 operating-asset contribution was $127 million, driven by a $548 million decrease in…
• AI Infrastructure InvestmentImportance 52 · Surprise 42
  Trade Desk expects platform operations expense to rise as queries per second and media impressions purchased increase and as it invests in hosting capabilities supporting new platform functionality and growing AI and…
• Revenue Performance and MixImportance 49 · Surprise 32
  Revenue increased 3% year over year to $715.1 million in the second quarter of 2026 and increased 7% to $1.404 billion for the six months ended June 30, 2026. Second-quarter growth primarily reflected more campaigns…
• Advertising Demand TrendsImportance 49 · Surprise 32
  Trade Desk’s revenue growth was driven primarily by increased gross spend on its platform, with more advertising campaigns executed by new clients in the second quarter and by new and existing clients during the first…
• Other Income TrendsImportance 46 · Surprise 56
  Total other income, net decreased $5 million in the second quarter and $14 million for the six months ended June 30, 2026. Six-month other income declined to $23.8 million from $37.7 million as interest income fell…
• Hosting Capacity and SupplyImportance 40 · Surprise 42
  Higher use of the platform to query ad opportunities and purchase impressions, including through AI and machine-learning capabilities, is increasing hosting requirements. Trade Desk is investing in new data centers and…
• Guidance and OutlookImportance 40 · Surprise 42
  Management expects platform operations and technology-and-development expenses to continue increasing as it invests in hosting, platform enhancements, AI and machine learning, additional advertising inventory and data…
• Geographic Market CommentaryImportance 31 · Surprise 42
  Trade Desk identifies markets outside the United States, particularly Europe and Asia, as growth opportunities. Management specifically names the U.K., Germany, France, China, Japan, India and Australia and intends to…
• Macroeconomic Factors ImpactImportance 29 · Surprise 24
  Trade Desk states that changes in interest rates, foreign-currency exchange rates, trade policies, inflation and geopolitical developments have contributed to a global slowdown that could reduce demand for clients’…
• Income Tax Rate ChangesImportance 26 · Surprise 24
  The provision for income taxes increased $6 million in the second quarter and $19 million for the six months ended June 30, 2026. The six-month increase occurred despite lower pre-tax profitability because employee…
• Distribution ChannelsImportance 23 · Surprise 24
  Trade Desk expands the volume and type of inventory available to buyers through supply-side partner and publisher integrations. The company specifically identifies connected television, audio, and other advertising…
• Customer DynamicsImportance 20 · Surprise 24
  Clients include advertising agencies, advertisers, and service providers that support agencies or advertisers, generally under ongoing master services agreements. Recent campaign growth came from new clients and, over…
• Products and TechnologyImportance 15 · Surprise 6
  The platform combines programmatic advertising capabilities, AI, machine learning, data usage, measurement, targeting, and integrations with inventory, publisher, and data partners. Key opportunities include…
• Competition and Market ShareImportance 10 · Surprise 6
  Trade Desk operates in a highly competitive advertising market and is seeking to increase its share of spend from major advertising agencies and advertisers while expanding into mid-market clients. Management says…

8-K · 2026-08-06

• Operating Expense TrendsImportance 57 · Surprise 38
  Second-quarter platform operations expense increased 22% year over year to $184.3 million from $151.0 million, exceeding the 10% materiality threshold. General and administrative expense decreased 13% to $114.0 million…
• Capital ExpendituresImportance 54 · Surprise 30
  First-half purchases of property and equipment increased 21% year over year to $126.0 million from $104.4 million. The company also capitalized $7.4 million of software development costs, up from $5.7 million in the…
• Operating Income and MarginsImportance 52 · Surprise 30
  Second-quarter GAAP net income declined 29% year over year to $64.4 million from $90.1 million, reducing net income margin to 9% from 13%. GAAP diluted EPS decreased to $0.14 from $0.18, while adjusted EBITDA declined…
• Capital Return ProgramImportance 50 · Surprise 24
  The Trade Desk used approximately $78 million of cash to repurchase Class A common stock in the second quarter of 2026. As of June 30, 2026, the company had $269 million remaining available and authorized for…
• Revenue Performance and MixImportance 42 · Surprise 14
  Second-quarter 2026 revenue increased 3% year over year to $715.1 million from $694.0 million in the second quarter of 2025. First-half revenue increased 7% year over year to $1.404 billion from $1.310 billion. The…
• Free Cash Flow and LiquidityImportance 42 · Surprise 14
  Cash provided by operating activities increased 19% year over year to $545.4 million in the first half of 2026 from $456.4 million. Cash and cash equivalents increased to $1.123 billion at June 30, 2026 from $658.2…
• Guidance and OutlookImportance 35 · Surprise 60
  The Trade Desk expects third-quarter 2026 revenue of at least $650 million. The company expects third-quarter adjusted EBITDA of approximately $160 million. The implied adjusted EBITDA margin at the revenue floor is…
• Guidance / OutlookImportance 35 · Surprise 60
  For the third quarter of 2026, The Trade Desk expects revenue of at least $650 million. Management expects adjusted EBITDA of approximately $160 million for the quarter. The company did not provide GAAP net income…
• Commerce Media EcosystemImportance 31 · Surprise 42
  The Trade Desk expanded its commerce media ecosystem through integrations with Booking.com, Agoda, Kayak, Priceline, Marriott, Uber and United Airlines. These integrations provide advertisers access to high-intent…
• Connected TV Inventory ExpansionImportance 31 · Surprise 42
  The Trade Desk offers advertisers access to premium connected-TV inventory across major networks and streaming services worldwide. Netflix joined The Trade Desk’s Sellers and Publishers 500+, allowing advertisers to…
• Acquisition / Partnership / DivestitureImportance 31 · Surprise 42
  The Trade Desk expanded its strategic advertising and data ecosystem during the second quarter of 2026. Dentsu named the company the first DSP partner for New Stream Media, while Databricks named it a launch partner…
• Connected TV ExpansionImportance 31 · Surprise 42
  The Trade Desk expanded access to connected-TV inventory across major networks and streaming services globally during the second quarter of 2026. Netflix joined the company’s Sellers and Publishers 500+, allowing…
• Income Tax Rate ChangesImportance 26 · Surprise 40
  Second-quarter income-tax provision increased 13% year over year to $48.7 million from $43.1 million despite a 15% decrease in income before taxes to $113.1 million from $133.2 million. The implied effective tax rate…
• Customer RetentionImportance 10 · Surprise 6
  Customer retention remained over 95% in the second quarter, continuing a level maintained for more than a decade. The metric indicates sustained retention among The Trade Desk’s advertising customers despite the…

News · 2026-08-06

• Operating Income and MarginsImportance 41 · Surprise 48
  The Trade Desk generated second-quarter adjusted EBITDA of $241 million, representing a 34% margin. Reported EBITDA margin declined from 39% in the comparable prior-year period to 34%. Net income fell 29% year over…
• Capital Return ProgramImportance 34 · Surprise 42
  The Trade Desk repurchased and retired $59 million of Class A common stock during the second quarter of 2026. The repurchases covered approximately 3 million shares. After the quarterly activity, $269 million remained…