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	Sep '26 Sep 30, 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	2,987	2,896	2,445	1,946	1,578	1,196
Revenue Growth	7.03%	18.47%	25.63%	23.34%	31.87%	43.11%
Cost of Revenue	725.75	619.07	472.01	365.6	281.12	221.55
Gross Profit	2,261	2,277	1,973	1,581	1,297	974.91
Selling, General & Admin	1,153	1,163	1,082	968.25	863.14	623.96
Research & Development	545.94	525.14	463.32	411.79	319.88	226.14
Operating Expenses	1,699	1,688	1,546	1,380	1,183	850.1
Operating Income	561.96	589.32	427.17	200.48	113.65	124.82
Interest Expense	-2.13	-1.79	-1.51	-1.66	-4.01	-1.03
Interest & Investment Income	53.97	70.51	80.36	70.16	16.77	-
Currency Exchange Gain (Loss)	-0.78	0.72	1.29	-0.99	0.96	-1.75
Pretax Income	568.77	658.76	507.3	268	127.37	122.04
Income Tax Expense	239.37	215.45	114.23	89.06	73.99	-15.73
Net Income	329.39	443.3	393.08	178.94	53.39	137.76
Net Income to Common	329.39	443.3	393.08	178.94	53.39	137.76
Net Income Growth	-24.90%	12.78%	119.67%	235.19%	-61.25%	-43.15%
Shares Outstanding (Basic)	473	488	491	489	487	477
Shares Outstanding (Diluted)	475	494	502	500	500	499
Shares Change	-4.95%	-1.67%	0.35%	0.05%	0.28%	1.77%
EPS (Basic)	0.70	0.91	0.80	0.37	0.11	0.29
EPS (Diluted)	0.69	0.90	0.78	0.36	0.11	0.28
EPS Growth	-21.72%	15.38%	116.67%	228.37%	-60.85%	-42.86%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 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	862.19	795.71	641.22	551.53	464.57	323.71
Free Cash Flow Per Share	1.82	1.61	1.28	1.10	0.93	0.65
Gross Margin	75.70%	78.63%	80.69%	81.21%	82.18%	81.48%
Operating Margin	18.82%	20.35%	17.47%	10.30%	7.20%	10.43%
Profit Margin	11.03%	15.31%	16.08%	9.20%	3.38%	11.51%
Free Cash Flow Margin	28.87%	27.47%	26.23%	28.34%	29.45%	27.05%
EBITDA	673.43	690.11	498.66	266.9	161.08	162.04
EBITDA Margin	22.55%	23.83%	20.40%	13.71%	10.21%	13.54%
D&A For EBITDA	111.47	100.78	71.49	66.42	47.43	37.22
EBIT	561.96	589.32	427.17	200.48	113.65	124.82
EBIT Margin	18.82%	20.35%	17.47%	10.30%	7.20%	10.43%
Effective Tax Rate	42.09%	32.71%	22.52%	33.23%	58.09%	-

SEC Filings: 10-K · 10-Q