The Trade Desk Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	2,969	2,896	2,445	1,946	1,578	1,196
Revenue Growth	15.55%	18.47%	25.63%	23.34%	31.87%	43.11%
Cost of Revenue	658.2	619.07	472.01	365.6	281.12	221.55
Gross Profit	2,311	2,277	1,973	1,581	1,297	974.91
Selling, General & Admin	1,174	1,163	1,082	968.25	863.14	623.96
Research & Development	535.46	525.14	463.32	411.79	319.88	226.14
Total Operating Expenses	1,709	1,688	1,546	1,380	1,183	850.1
Operating Income	601.52	589.32	427.17	200.48	113.65	124.82
Interest Income	61.95	68.72	78.84	68.51	12.76	-1.03
Other Non-Operating Income (Expense)	-1.53	0.72	1.29	-0.99	0.96	-1.75
Total Non-Operating Income (Expense)	60.43	69.43	80.14	67.52	13.72	-2.78
Pretax Income	661.94	658.76	507.3	268	127.37	122.04
Provision for Income Taxes	229.32	215.45	114.23	89.06	73.99	-15.73
Net Income	432.62	443.3	393.08	178.94	53.39	137.76
Net Income to Common	432.62	443.3	393.08	178.94	53.39	137.76
Net Income Growth	4.98%	12.78%	119.67%	235.19%	-61.25%	-43.15%
Shares Outstanding (Basic)	483	488	491	489	487	477
Shares Outstanding (Diluted)	487	494	502	500	500	499
Shares Change	-3.18%	-1.67%	0.35%	0.05%	0.28%	1.77%
EPS (Basic)	0.89	0.91	0.80	0.37	0.11	0.29
EPS (Diluted)	0.88	0.90	0.78	0.36	0.11	0.28
EPS Growth	7.32%	15.38%	116.67%	227.27%	-60.71%	-42.86%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Free Cash Flow	842.45	795.71	641.22	551.53	464.57	323.71
Free Cash Flow Growth	21.17%	24.09%	16.26%	18.72%	43.52%	-2.21%
Free Cash Flow Per Share	1.73	1.61	1.28	1.10	0.93	0.65
Gross Margin	77.83%	78.63%	80.69%	81.21%	82.18%	81.48%
Operating Margin	20.26%	20.35%	17.47%	10.30%	7.20%	10.43%
Profit Margin	14.57%	15.31%	16.08%	9.19%	3.38%	11.51%
FCF Margin	28.37%	27.47%	26.23%	28.34%	29.44%	27.06%
EBITDA	724.75	705.11	514.66	280.9	168.08	167.04
EBITDA Margin	24.41%	24.35%	21.05%	14.43%	10.65%	13.96%
EBIT	601.52	589.32	427.17	200.48	113.65	124.82
EBIT Margin	20.26%	20.35%	17.47%	10.30%	7.20%	10.43%
Effective Tax Rate	34.64%	32.71%	22.52%	33.23%	58.09%	-12.89%

SEC Filings: 10-K · 10-Q