The Trade Desk Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Quarter	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Jun '25 Jun 30, 2025	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Sep '24 Sep 30, 2024	Jun '24 Jun 30, 2024	Mar '24 Mar 31, 2024	Dec '23 Dec 31, 2023	Sep '23 Sep 30, 2023	Jun '23 Jun 30, 2023	Mar '23 Mar 31, 2023	Dec '22 Dec 31, 2022	Sep '22 Sep 30, 2022	Jun '22 Jun 30, 2022	Mar '22 Mar 31, 2022	Dec '21 Dec 31, 2021	Sep '21 Sep 30, 2021	Jun '21 Jun 30, 2021
Revenue	688.86	846.79	739.43	694.04	616.02	741.01	628.02	584.55	491.25	605.8	493.27	464.25	382.8	490.74	394.77	376.96	315.32	395.6	301.09	279.97
Revenue Growth (YoY)	11.82%	14.27%	17.74%	18.73%	25.40%	22.32%	27.32%	25.91%	28.33%	23.45%	24.95%	23.16%	21.40%	24.05%	31.11%	34.64%	43.45%	23.66%	39.32%	100.90%
Cost of Revenue	181.97	163.09	162.15	150.98	142.84	135.27	122.66	110.46	103.63	100.7	93.38	86.65	84.87	79.62	70.12	67.49	63.89	66.85	53.4	50.81
Gross Profit	506.89	683.7	577.28	543.06	473.18	605.75	505.36	474.09	387.62	505.1	399.88	377.6	297.94	411.12	324.65	309.47	251.43	328.75	247.69	229.16
Selling, General & Admin	297.52	296.23	288.17	292.03	286.33	282.54	279.17	269.34	251.28	258.66	244.44	237.62	227.53	226.48	215.93	224.25	196.49	291.28	111.4	113.67
Research & Development	142.72	130.6	127.89	134.25	132.4	127.89	117.71	110.04	107.69	102	117.77	98.31	93.71	84.48	79.92	83.48	72	62.84	55.85	53.54
Total Operating Expenses	440.24	426.82	416.06	426.28	418.73	410.44	396.88	379.37	358.97	360.66	362.21	335.93	321.24	310.96	295.85	307.73	268.49	354.11	167.25	167.21
Operating Income	66.65	256.87	161.22	116.78	54.45	195.31	108.48	94.72	28.66	144.44	37.68	41.67	-23.31	100.16	28.8	1.74	-17.05	-25.36	80.45	61.95
Interest Income	13.37	14.06	16.49	18.04	20.13	24.96	19.41	17.82	16.66	18.95	17.63	17.51	14.42	11.43	1.74	0.66	-1.08	-0.47	-0.32	-0.19
Other Non-Operating Income (Expense)	-1.06	-0.67	1.81	-1.61	1.19	1.33	-0.71	-0.05	0.72	-2.71	1.7	0.75	-0.72	0.53	-0.04	-0.32	0.8	-0.75	-1.15	-0.2
Total Non-Operating Income (Expense)	12.31	13.39	18.3	16.42	21.32	26.29	18.7	17.77	17.38	16.24	19.32	18.25	13.7	11.96	1.7	0.34	-0.28	-1.22	-1.47	-0.4
Pretax Income	78.96	270.27	179.52	133.2	75.77	221.6	127.18	112.49	46.03	160.68	57	59.93	-9.61	112.12	30.5	2.08	-17.33	-26.58	78.98	61.55
Provision for Income Taxes	38.96	83.32	63.97	43.07	25.09	39.37	33.02	27.46	14.37	63.35	17.65	26.99	-18.93	40.93	14.63	21.16	-2.74	-	19.59	13.85
Net Income	40	186.95	115.55	90.13	50.68	182.23	94.16	85.03	31.66	97.32	39.35	32.94	9.33	71.19	15.87	-19.07	-14.6	-26.58	59.38	47.7
Net Income to Common	40	186.95	115.55	90.13	50.68	182.23	94.16	85.03	31.66	97.32	39.35	32.94	9.33	71.19	15.87	-19.07	-14.6	-26.58	59.38	47.7
Net Income Growth	-21.08%	2.59%	22.72%	6.00%	60.07%	87.24%	139.27%	158.14%	239.48%	36.71%	147.98%	-	-	-	-73.28%	-	-	-	43.97%	89.94%
Shares Outstanding (Basic)	475	480	488	491	495	494	492	489	489	489	489	488	490	489	488	486	484	481	478	476
Shares Outstanding (Diluted)	477	483	493	496	503	507	503	500	498	500	502	499	500	500	500	486	484	500	499	497
Shares Change (YoY)	-5.18%	-4.76%	-1.91%	-0.85%	0.95%	1.43%	0.14%	0.14%	-0.32%	-0.15%	0.32%	2.68%	3.22%	0.02%	0.28%	-2.15%	-2.76%	0.56%	1.36%	2.15%
EPS (Basic)	0.08	0.39	0.24	0.18	0.10	0.37	0.19	0.17	0.06	0.20	0.08	0.07	0.02	0.15	0.03	-0.04	-0.03	0.02	0.12	0.10
EPS (Diluted)	0.08	0.39	0.23	0.18	0.10	0.36	0.19	0.17	0.06	0.19	0.08	0.07	0.02	0.14	0.03	-0.04	-0.03	0.02	0.12	0.10
EPS Growth	-20.00%	8.33%	21.05%	5.88%	66.67%	89.47%	137.50%	142.86%	200.00%	35.71%	166.67%	-	-	600.00%	-75.00%	-	-	-93.55%	50.00%	100.00%
Shares Outstanding	471	475.92	484.73	489.9	491.32	496.1	493.45	491.6	488.73	488.92	490.24	490.05	488.19	490.47	489.45	488.29	486.03	483.44	480.59	478.45
Free Cash Flow	279.06	285.27	158.35	119.77	232.32	179.21	224.62	59.14	178.25	65.92	186.5	120.69	178.42	125.71	113.44	87.63	137.79	152.51	104.26	4.99
Free Cash Flow Growth	20.12%	59.18%	-29.50%	102.51%	30.34%	171.84%	20.44%	-51.00%	-0.10%	-47.56%	64.40%	37.73%	29.48%	-17.57%	8.81%	1655.33%	122.42%	0.85%	52.46%	-93.51%
Free Cash Flow Per Share	0.59	0.59	0.32	0.24	0.46	0.35	0.45	0.12	0.36	0.13	0.37	0.24	0.36	0.25	0.23	0.18	0.28	0.30	0.21	0.01
Gross Margin	73.58%	80.74%	78.07%	78.25%	76.81%	81.75%	80.47%	81.10%	78.91%	83.38%	81.07%	81.33%	77.83%	83.78%	82.24%	82.10%	79.74%	83.10%	82.26%	81.85%
Operating Margin	9.68%	30.33%	21.80%	16.83%	8.84%	26.36%	17.27%	16.20%	5.83%	23.84%	7.64%	8.98%	-6.09%	20.41%	7.30%	0.46%	-5.41%	-6.41%	26.72%	22.13%
Profit Margin	5.81%	22.08%	15.63%	12.99%	8.23%	24.59%	14.99%	14.55%	6.44%	16.07%	7.98%	7.10%	2.44%	14.51%	4.02%	-5.06%	-4.63%	-6.72%	19.72%	17.04%
FCF Margin	40.51%	33.69%	21.42%	17.26%	37.71%	24.18%	35.77%	10.12%	36.28%	10.88%	37.81%	26.00%	46.61%	25.62%	28.74%	23.25%	43.70%	38.55%	34.63%	1.78%
EBITDA	98.08	288.83	194.35	143.48	78.44	219.42	129.24	115.6	50.4	164.97	58.21	61.74	-4.02	117	41.76	14.02	-4.7	-13.11	89.4	72.95
EBITDA Margin	14.24%	34.11%	26.28%	20.67%	12.73%	29.61%	20.58%	19.78%	10.26%	27.23%	11.80%	13.30%	-1.05%	23.84%	10.58%	3.72%	-1.49%	-3.31%	29.69%	26.06%
EBIT	66.65	256.87	161.22	116.78	54.45	195.31	108.48	94.72	28.66	144.44	37.68	41.67	-23.31	100.16	28.8	1.74	-17.05	-25.36	80.45	61.95
EBIT Margin	9.68%	30.33%	21.80%	16.83%	8.84%	26.36%	17.27%	16.20%	5.83%	23.84%	7.64%	8.98%	-6.09%	20.41%	7.30%	0.46%	-5.41%	-6.41%	26.72%	22.13%
Effective Tax Rate	49.34%	30.83%	35.64%	32.34%	33.12%	17.77%	25.96%	24.41%	31.22%	39.43%	30.96%	45.03%	197.06%	36.51%	47.97%	1016.09%	15.78%	0.00%	24.81%	22.51%

Updated May 7, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q