The Trade Desk

TTD Communication Services Advertising Agencies

The Trade Desk’s revenue for fiscal 2025 (year ended December 2025) was $2.9 billion, up 18.5% from fiscal 2024.

Revenue
+3.03%
EPS
−22.2%
Free cash flow
+29.8%

Quarter to June 2026, against a year earlier

12.62 0.19 −1.48%
Market cap
$6.1B
P/E
15.1×
Fwd P/E
32.6×
Dividend yield
—
F-score
7/9
Altman Z
4.07
Beneish M
−2.80
Dividend safety
n/a

The Trade Desk 10-Q filed Aug 6, 2026

Fiscal Q2 2026 · Period ended Jun 30, 2026 · Filed · accepted 5:04 PM ET · Document on sec.gov · Filing index

What changed

Part I, Item 2, Management’s Discussion and Analysis, against the 10-Q filed May 7, 2026: 14 added · 2 removed · 38 modified; 3 with only figures updated

  1. Modified · Trends, Opportunities and Challenges

    We invest for remain focused on operating efficiently while investing in significant opportunities to contribute toward long-term growth. We anticipate that our platform operations and technology and development operating expenses will continue to increase in the foreseeable future as we invest in platform operations for our hosting capabilities as well as technology and development to enhance our platform and related offerings, including our continued focus on the development and incorporation of AI. We also anticipate that our aim for balanced investments in sales and marketing expenses will continueactivities in order to increase to acquire new clients and reinforce our relationships with existing clients. In addition, we expect to continue making disciplined investments in our infrastructure, including our information technology, financial and administrative systems and controls to support our growing operations.