The Trade Desk financials
$12.05−2.35%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.90B | $2.44B | $1.95B | $1.58B | $1.20B | $836.0M | $661.1M | $477.3M | $308.2M | $202.9M |
| Gross profit | $2.28B | $1.97B | $1.58B | $1.30B | $974.9M | $657.2M | $504.9M | $363.2M | $242.0M | $163.1M |
| Gross margin | 78.6% | 80.7% | 81.2% | 82.2% | 81.5% | 78.6% | 76.4% | 76.1% | 78.5% | 80.3% |
| Operating income | $589.3M | $427.2M | $200.5M | $113.7M | $124.8M | $144.2M | $112.2M | $107.3M | $69.4M | $57.5M |
| Net income | $443.3M | $393.1M | $178.9M | $53.4M | $137.8M | $242.3M | $108.3M | $88.1M | $50.8M | -$26.7M |
| Net margin | 15.3% | 16.1% | 9.2% | 3.4% | 11.5% | 29.0% | 16.4% | 18.5% | 16.5% | −13.2% |
| Diluted EPS | $0.90 | $0.78 | $0.36 | $0.11 | $0.28 | $0.49 | $0.23 | $0.19 | $0.11 | $-0.15 |
| EBITDA | $705.1M | $514.7M | $280.9M | $168.1M | $167.0M | $172.8M | $133.9M | $119.1M | $76.6M | $61.3M |
| Operating cash flow | $992.7M | $739.5M | $598.3M | $548.7M | $378.5M | $405.1M | $60.2M | $86.6M | $31.2M | $75.0M |
| Free cash flow | $795.7M | $641.2M | $551.5M | $464.6M | $323.7M | $331.0M | $24.5M | $66.8M | $21.1M | $68.1M |
| Diluted shares | 493.6M | 501.9M | 500.2M | 499.9M | 498.5M | 489.9M | 478.1M | 457.9M | 440.6M | 182.8M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $658.2M | $1.37B | $895.1M | $1.03B | $754.2M | $437.4M |
| Short-term investments | $644.9M | $552.0M | $485.2M | $416.1M | $204.6M | $186.7M |
| Total debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total assets | $6.15B | $6.11B | $4.89B | $4.38B | $3.58B | $2.75B |
| Total liabilities | $3.67B | $3.16B | $2.72B | $2.27B | $2.05B | $1.74B |
| Shareholders' equity | $2.48B | $2.95B | $2.16B | $2.12B | $1.53B | $1.01B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology