Trade Desk Inc. (TTD) financial statements: income statement, balance sheet and cash flow
Trade Desk Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Trade Desk Inc. reported revenue of $2.9B (+18.5% year on year) and net income of $443.3M (+12.8% year on year).
Income statement
Trade Desk Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenue
$2.9B
$2.4B
$1.9B
$1.6B
Platform operations
$619.1M
$472.0M
$365.6M
$281.1M
Sales and marketing
$644.3M
$546.5M
$448.0M
$338.0M
Technology and development
$525.1M
$463.3M
$411.8M
$319.9M
General and administrative
$518.5M
$535.8M
$520.3M
$525.2M
Total operating expenses
$2.3B
$2.0B
$1.7B
$1.5B
Income from operations
$589.3M
$427.2M
$200.5M
$113.7M
Interest income, net
($68.7M)
($78.8M)
($68.5M)
($12.8M)
Foreign currency exchange loss (gain), net
($717.0K)
($1.3M)
$993.0K
($961.0K)
Total other income, net
($69.4M)
($80.1M)
($67.5M)
($13.7M)
Income before income taxes
$658.8M
$507.3M
$268.0M
$127.4M
Provision for income taxes
$215.5M
$114.2M
$89.1M
$74.0M
Net income
$443.3M
$393.1M
$178.9M
$53.4M
Basic (in dollars per share)
$0.91
$0.80
$0.37
$0.11
Diluted (in dollars per share)
$0.90
$0.78
$0.36
$0.11
Basic (in shares)
488.3M
490.9M
489.3M
486.9M
Diluted (in shares)
493.6M
501.9M
500.2M
499.9M
Trade Desk Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenue
$715.1M
$688.9M
$739.4M
$694.0M
Platform operations
$184.3M
$182.0M
$162.2M
$151.0M
Sales and marketing
$174.4M
$172.2M
$156.8M
$161.1M
Technology and development
$140.7M
$142.7M
$127.9M
$134.3M
General and administrative
$114.0M
$125.3M
$131.3M
$130.9M
Total operating expenses
$613.5M
$622.2M
$578.2M
$577.3M
Income from operations
$101.6M
$66.6M
$161.2M
$116.8M
Interest income, net
($11.5M)
($13.4M)
($16.5M)
($18.0M)
Foreign currency exchange loss (gain), net
($6.0K)
$1.1M
($1.8M)
$1.6M
Total other income, net
($11.5M)
($12.3M)
($18.3M)
($16.4M)
Income before income taxes
$113.1M
$79.0M
$179.5M
$133.2M
Provision for income taxes
$48.7M
$39.0M
$64.0M
$43.1M
Net income
$64.4M
$40.0M
$115.5M
$90.1M
Basic (in dollars per share)
$0.14
$0.08
$0.24
$0.18
Diluted (in dollars per share)
$0.14
$0.08
$0.23
$0.18
Basic (in shares)
468.4M
474.7M
487.7M
490.6M
Diluted (in shares)
469.9M
476.9M
493.0M
495.8M
Total
$109.6M
—
—
—
Balance sheet
Trade Desk Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$658.2M
$1.4B
$895.1M
$1.0B
Short-term investments, net
$644.9M
$552.0M
$485.2M
$416.1M
Accounts receivable, net of allowance for credit losses of $12,199 and $11,244 as of December 31, 2025 and 2024, respectively
$3.8B
$3.3B
$2.9B
$2.3B
Prepaid expenses and other current assets
$187.8M
$84.6M
$63.4M
$51.8M
TOTAL CURRENT ASSETS
$5.3B
$5.3B
$4.3B
$3.8B
Property and equipment, net
$396.8M
$209.3M
$161.4M
$173.8M
Operating lease assets
$342.0M
$263.8M
$197.7M
$220.4M
Deferred income taxes
$55.7M
$230.2M
$154.8M
$94.0M
Other assets, non-current
$97.7M
$72.2M
$60.7M
$46.9M
TOTAL ASSETS
$6.2B
$6.1B
$4.9B
$4.4B
Accounts payable
$3.0B
$2.6B
$2.3B
$1.9B
Accrued expenses and other current liabilities
$182.0M
$177.8M
$138.0M
$105.5M
Operating lease liabilities
$76.4M
$64.5M
$55.5M
$52.4M
TOTAL CURRENT LIABILITIES
$3.3B
$2.9B
$2.5B
$2.0B
Operating lease liabilities, non-current
$360.0M
$247.7M
$180.4M
$208.5M
Other liabilities, non-current
$42.9M
$41.6M
$33.3M
$27.5M
TOTAL LIABILITIES
$3.7B
$3.2B
$2.7B
$2.3B
Commitments and contingencies (Note 13)
$0
$0
$0
$0
Preferred stock, par value $0.000001; 100,000 shares authorized, zero shares issued and outstanding as of December 31, 2025 and 2024
0
0
0
0
Common stock, par value $0.000001 Class A, 1,000,000 shares authorized; 432,814 and 452,182 shares issued and outstanding as of December 31, 2025 and 2024, respectively Class B, 95,000 shares authorized; 43,109 and 43,919 shares issued and outstanding as of December 31, 2025 and 2024, respectively
0
0
0
0
Additional paid-in capital
$3.1B
$2.6B
$2.0B
$1.4B
Retained earnings (accumulated deficit)
($590.9M)
$354.2M
$197.0M
$665.5M
TOTAL STOCKHOLDERS’ EQUITY
$2.5B
$2.9B
$2.2B
$2.1B
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$6.2B
$6.1B
$4.9B
$4.4B
Trade Desk Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$1.1B
$878.4M
$653.1M
$896.4M
Short-term investments, net
$362.4M
$527.5M
$792.3M
$790.9M
Accounts receivable, net of allowance for credit losses of $16,097 and $12,199 as of June 30, 2026 and December 31, 2025, respectively
$3.2B
$3.3B
$3.5B
$3.3B
Prepaid expenses and other current assets
$129.7M
$132.1M
$196.5M
$111.5M
TOTAL CURRENT ASSETS
$4.8B
$4.9B
$5.1B
$5.1B
Property and equipment, net
$455.2M
$389.4M
$322.5M
$310.0M
Operating lease assets
$335.2M
$326.3M
$287.1M
$269.3M
Deferred income taxes
$55.7M
$55.7M
$110.5M
$228.9M
Other assets, non-current
$102.5M
$101.4M
$100.0M
$95.9M
TOTAL ASSETS
$5.8B
$5.7B
$5.9B
$6.0B
Accounts payable
$2.6B
$2.6B
$2.8B
$2.7B
Accrued expenses and other current liabilities
$150.2M
$179.9M
$160.4M
$152.5M
Operating lease liabilities
$80.9M
$77.5M
$73.1M
$72.4M
TOTAL CURRENT LIABILITIES
$2.8B
$2.9B
$3.0B
$2.9B
Operating lease liabilities, non-current
$353.2M
$346.1M
$302.8M
$271.1M
Other liabilities, non-current
$43.2M
$44.4M
$42.0M
$41.9M
TOTAL LIABILITIES
$3.2B
$3.3B
$3.3B
$3.3B
Preferred stock, par value $0.000001; 100,000 shares authorized, zero shares issued and outstanding as of June 30, 2026 and December 31, 2025
0
0
0
0
Common stock, par value $0.000001 Class A, 1,000,000 shares authorized; 426,532 and 432,814 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively Class B, 95,000 shares authorized; 43,109 and 43,109 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
0
0
0
0
Additional paid-in capital
$3.3B
$3.2B
$3.0B
$2.9B
Accumulated deficit
($719.5M)
($725.0M)
($364.4M)
($162.4M)
TOTAL STOCKHOLDERS’ EQUITY
$2.6B
$2.5B
$2.6B
$2.7B
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$5.8B
$5.7B
$5.9B
$6.0B
Cash flow statement
Trade Desk Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$443.3M
$393.1M
$178.9M
$53.4M
Depreciation and amortization expense
$115.8M
$87.5M
$80.4M
$54.4M
Stock-based compensation expense
$490.6M
$494.7M
$491.6M
$498.6M
Deferred income taxes
$167.7M
($76.9M)
($61.6M)
($11.5M)
Noncash lease expense
$69.7M
$57.4M
$49.0M
$44.1M
Other
($19.2M)
($7.9M)
($20.4M)
$622.0K
Accounts receivable
($432.7M)
($474.2M)
($554.0M)
($291.7M)
Prepaid expenses and other current and non-current assets
($76.6M)
($38.8M)
($26.8M)
$50.7M
Accounts payable
$291.1M
$298.9M
$475.5M
$187.1M
Accrued expenses and other current and non-current liabilities
$6.9M
$46.6M
$35.7M
$8.2M
Operating lease liabilities
($63.8M)
($41.8M)
($52.9M)
($48.3M)
Net cash provided by operating activities
$992.7M
$739.5M
$598.3M
$548.7M
Purchases of investments
($954.3M)
($679.5M)
($608.4M)
($553.3M)
Maturities of investments
$875.8M
$629.1M
$555.8M
$338.8M
Purchases of property and equipment
($197.0M)
($98.2M)
($46.8M)
($84.2M)
Capitalized software development costs
($12.8M)
($8.8M)
($8.2M)
($7.7M)
Business acquisition
($4.3M)
—
$0
$0
Net cash used in investing activities
($292.6M)
($157.5M)
($107.6M)
($304.4M)
Repurchases of Class A common stock
($1.4B)
($234.8M)
($646.6M)
—
Proceeds from exercise of stock options
$23.8M
$216.3M
$60.5M
$47.5M
Proceeds from employee stock purchase plan
$42.9M
$50.0M
$38.5M
$33.1M
Taxes paid relating to net settlement of restricted stock
($97.7M)
($139.1M)
($78.5M)
($48.6M)
Net cash used in financing activities
($1.4B)
($107.6M)
($626.1M)
$32.0M
Increase (decrease) in cash and cash equivalents
($711.3M)
$474.3M
($135.4M)
$276.4M
Cash and cash equivalents—Beginning of year
$1.4B
$895.1M
$1.0B
$754.2M
Cash and cash equivalents—End of year
$658.2M
$1.4B
$895.1M
$1.0B
Cash paid for income taxes, net of refunds
$150.1M
$158.6M
$151.9M
$4.2M
Cash paid for interest
$993.0K
$986.0K
$967.0K
$995.0K
Cash paid for operating lease liabilities
$79.4M
$68.4M
$63.3M
$57.9M
Operating lease assets obtained in exchange for operating lease liabilities
$150.3M
$132.1M
$27.2M
$29.9M
Capitalized assets financed by accounts payable
$104.5M
$20.5M
$4.7M
$2.2M
Assets acquired in a business combination, included in other assets, non-current, in exchange for Class A common stock
$10.3M
—
—
—
Tenant improvements paid by lessor
$10.6M
$6.9M
$0
$1.5M
Stock-based compensation included in capitalized software development costs
$7.8M
$5.6M
$5.3M
$4.0M
Repurchases of Class A common stock in accrued expenses and other current liabilities
$9.9M
—
—
—
Trade Desk Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$104.4M
$40.0M
$256.4M
$140.8M
Depreciation and amortization expense
$61.6M
$31.4M
$83.8M
$50.7M
Stock-based compensation expense
$218.6M
$109.0M
$378.5M
$257.1M
Noncash lease expense
$38.1M
$18.6M
$51.2M
$34.3M
Provision for expected credit losses on accounts receivable
$4.3M
$4.0M
$1.5M
$1.2M
Gain on sale of property and equipment
($13.8M)
—
—
—
Other
$4.8M
$6.3M
($13.8M)
($13.9M)
Accounts receivable
$548.1M
$429.3M
($149.1M)
$80.0M
Prepaid expenses and other current and non-current assets
$59.8M
$58.5M
($91.6M)
($18.3M)
Accounts payable
($427.9M)
($279.4M)
$120.4M
($19.8M)
Accrued expenses and other current and non-current liabilities
($16.8M)
($9.0M)
($26.8M)
($24.1M)
Operating lease liabilities
($35.7M)
($17.1M)
($47.5M)
($31.6M)
Net cash provided by operating activities
$545.4M
$391.8M
$681.1M
$456.4M
Purchases of investments
($238.9M)
($122.1M)
($826.2M)
($577.8M)
Sales of investments
$112.1M
—
—
—
Maturities of investments
$409.6M
$238.3M
$597.4M
$346.1M
Purchases of property and equipment
($126.0M)
($112.7M)
($170.7M)
($104.4M)
Proceeds from sale of property and equipment
$15.5M
—
—
—
Capitalized software development costs
($7.4M)
($3.0M)
($9.1M)
($5.7M)
Business acquisition
$0
$0
($4.3M)
($4.3M)
Net cash provided by (used in) investing activities
$164.9M
$466.0K
($412.9M)
($346.2M)
Repurchases of Class A common stock
($241.3M)
($163.5M)
($957.5M)
($647.1M)
Proceeds from exercise of stock options
$4.7M
$2.1M
$20.3M
$14.1M
Proceeds from employee stock purchase plan
$11.9M
—
$32.4M
$32.5M
Taxes paid relating to net settlement of restricted stock
($20.8M)
($10.6M)
($79.7M)
($57.0M)
Proceeds from short-term borrowings
$0
—
—
$74.2M
Net cash used in financing activities
($245.5M)
($172.1M)
($984.5M)
($583.4M)
Increase (decrease) in cash and cash equivalents
$464.8M
$220.2M
($716.3M)
($473.1M)
Cash and cash equivalents—Beginning of period
$658.2M
$658.2M
$1.4B
$1.4B
Cash and cash equivalents—End of period
$1.1B
$878.4M
$653.1M
$896.4M
Cash paid for operating lease liabilities
$45.2M
$20.6M
$56.9M
$35.9M
Operating lease assets obtained in exchange for operating lease liabilities
$34.5M
$5.9M
$76.1M
$41.6M
Capitalized assets financed by accounts payable
$88.2M
$10.2M
$30.5M
$57.6M
Repurchases of Class A common stock in accrued expenses and other current liabilities
$1.6M
$10.5M
$19.4M
$12.2M
Tenant improvements paid by lessor
$0
$1.5M
$14.4M
$8.6M
Assets acquired in a business combination, included in other assets, non-current, in exchange for Class A common stock
$0
$0
$10.3M
$10.3M
Stock-based compensation included in capitalized software development costs