Financial Performance - Revenue increased by $109 million, or 19%, for the three months ended June 30, 2025, and by $234 million, or 22%, for the six months ended June 30, 2025, compared to the same periods in 2024[92]. - Net income for the three months ended June 30, 2025, was $90,129 thousand, a 6% increase from $85,029 thousand in 2024, while for the six months, net income rose to $140,807 thousand, up 21% from $116,689 thousand[81]. Operating Expenses - Platform operations expense increased by $41 million, or 37%, for the three months ended June 30, 2025, primarily due to a $33 million increase in hosting costs[93]. - Sales and marketing expense rose by $27 million, or 20%, for the three months ended June 30, 2025, driven by a $20 million increase in personnel costs[96]. - Total operating expenses for the three months ended June 30, 2025, were $577,262 thousand, representing 83% of revenue, compared to $489,830 thousand, or 84% of revenue, in 2024[90]. - The company anticipates continued increases in operating expenses as it invests in platform operations and technology development[85]. - Technology and development expenses increased by $24 million, or 22%, for the three months ended June 30, 2025, compared to the same period in 2024, primarily due to a $21 million increase in personnel costs[99]. - General and administrative expenses decreased by $5 million, or 3%, for the three months ended June 30, 2025, mainly due to a $15 million decrease in stock-based compensation[102]. - The company anticipates general and administrative expenses to rise due to continued investment in corporate infrastructure and headcount to support growth[104]. Cash Flow and Capital Management - Cash flows from operating activities for the six months ended June 30, 2025, were $456 million, compared to $267 million for the same period in 2024[121]. - The company repurchased 3.7 million shares of Class A common stock for an aggregate amount of $257 million during the three months ended June 30, 2025[120]. - For the six months ended June 30, 2025, the company used $346 million in cash for investing activities, a significant increase from $37 million in the same period of 2024[126][127]. - Cash used in financing activities for the six months ended June 30, 2025, was $583 million, compared to $115 million for the same period in 2024, primarily due to $647 million spent on repurchasing Class A common stock[128][129]. - As of June 30, 2025, the company had working capital of $2,105 million, including $896 million in cash and cash equivalents[110]. - The Amended Credit Facility had $443 million available as of June 30, 2025, with no outstanding debt balance[116]. Market and Strategic Focus - The company is focusing on expanding its advertising inventory and value-added services to support client campaigns[82]. - The growth of the programmatic advertising market is seen as crucial for the company's future revenue growth[83]. - The company plans to invest in international markets, particularly in Europe and Asia, to drive growth despite potential regulatory challenges[86]. Risks and Uncertainties - Macroeconomic uncertainties, including changes in interest rates and inflation, may impact the company's revenue and operational performance[88]. - A hypothetical one percentage point change in interest rates would result in an annual increase or decrease in investment income of approximately $8 million based on short-term investments as of June 30, 2025[140]. - An immediate 10% adverse change in foreign exchange rates would lead to a foreign currency loss of approximately $39 million as of June 30, 2025[141]. - The company has not utilized any derivative financial instruments to manage interest rate risk exposure as of June 30, 2025[140]. - The company does not have any off-balance sheet arrangements other than indemnification agreements as of June 30, 2025[130]. Accounting and Financial Policies - The company’s critical accounting policies include revenue recognition criteria and stock-based compensation, which have the greatest potential impact on financial statements[135]. - The company has entered into forward contracts to hedge foreign currency risk, although there is no assurance of their effectiveness[142]. - The company’s principal commitments include obligations to hosting services, hardware providers, and software as a service[131].

Financial Performance & Growth - The Trade Desk's 2024 revenue reached $2.445 billion[7,12], with adjusted net income of $832 million[7,12] and adjusted EBITDA of $1.011 billion[7,12] - The company's gross spend increased from $5.52 billion in FY2015 to $12.041 billion in FY2024[10,12] - Revenue grew from $114 million in FY2015 to $2.445 billion in FY2024[7,11], representing a significant increase over the years - Q2 2025 revenue was $694.039 million, compared to $584.550 million in Q2 2024[112] - Adjusted EBITDA for Q2 2025 was $270.755 million, compared to $241.897 million for Q2 2024[118] Market & Strategy - The open internet represents a $935 billion+ market[18] - Approximately 88% of The Trade Desk's spend was in North America in 2024, while about 12% was international[91] - Connected TV (CTV) is the company's largest and fastest-growing channel[111], reaching over 120 million households and 90 million CTV devices[82] Key Initiatives - The company is focused on Connected TV, shopper marketing, global expansion, and UID2[98] - The Trade Desk emphasizes objectivity, independence, and transparency[97]

The Trade Desk, Inc. TTD released its second-quarter results after Thursday's closing bell. Here's a look at the key figures from the quarter. The Details: Trade Desk reported quarterly earnings of 41 cents per share, in line with the analyst estimate, according to Benzinga Pro. Quarterly revenue came in at $694.03 million, which beat the Street estimate of $684.99 million and is up from revenue of $584.55 million from the same period last year.Read Next:  Palantir’s Alex Karp Tells Haters To ‘Read ‘Em And ...

Exhibit 99.1 The Trade Desk Reports Second Quarter 2025 Financial Results LOS ANGELES--(BUSINESS WIRE)--August 7, 2025--The Trade Desk, Inc. ("The Trade Desk," the "Company" or "we") (NASDAQ: TTD), a provider of a global technology platform for buyers of advertising, today announced financial results for its second quarter ended June 30, 2025. "Q2 was a strong quarter for The Trade Desk, with revenue growing to $694 million, up 19% year-over-year, as we continue to outpace the digital advertising market," s ...

Core Viewpoint - The Trade Desk, Inc. (TTD) is set to report its Q2 2025 results on August 7, with expectations of a 17% year-over-year revenue increase to approximately $684.46 million, alongside an earnings estimate of 42 cents per share, up from 39 cents in the prior year quarter [1][2]. Financial Performance - The Zacks Consensus Estimate for TTD's Q2 earnings is 42 cents, unchanged over the past 60 days, with total revenues expected to reach $684.46 million, reflecting a 17.1% increase year-over-year [1][12]. - TTD's revenues are projected to be at least $682 million, indicating a 17% year-over-year growth, which includes the impact of political ad spending from the previous year [2]. Earnings Surprise History - TTD has consistently beaten the Zacks Consensus Estimate for earnings in the last four quarters, with an average earnings surprise of 11.14% [3]. Market Position and Strategy - TTD is focusing on increasing digital spending in areas like Connected TV (CTV), which represented a significant portion of its business, and is seen as a key driver for revenue growth [6][8]. - The company is capitalizing on the shift from linear to programmatic CTV, positioning it as a central element of its growth strategy [6][8]. - TTD's Kokai platform is gaining traction, with two-thirds of clients already using it, leading to improved performance metrics such as a 24% lower cost per conversion [8][9]. Competitive Landscape - The digital advertising industry remains highly competitive, with major players like Alphabet and Amazon posing challenges to TTD's market positioning [11][16]. - TTD's stock has underperformed compared to its peers, with a 25.2% decline over the past six months, contrasting with the performance of the broader Internet Services industry and the S&P 500 [12][16]. Valuation Metrics - TTD's stock is trading at a premium, with a forward 12-month Price/Sales ratio of 13.52X, significantly higher than the industry average of 5.3X [19].

Group 1 - The Trade Desk (TTD) has recently crossed above the 200-day moving average, indicating a long-term bullish trend [1] - TTD has gained 22% over the past four weeks, suggesting strong market performance [2] - The company is currently ranked Zacks Rank 3 (Hold), indicating potential for further stock price increases [2] Group 2 - Positive earnings estimate revisions support the bullish case for TTD, with no estimates decreasing in the past two months and two estimates increasing [3] - The consensus estimate for TTD has also increased, reinforcing the positive outlook for the company [3] - Investors are encouraged to monitor TTD for potential gains due to its key technical level and favorable earnings revisions [3]

Core Viewpoint - The Trade Desk Inc. has experienced significant volatility, with a decline of over 60% earlier this year, but has since rebounded nearly 100% from its April lows, resulting in a year-to-date performance of -27% [1]. Company Performance - The Trade Desk Inc. is categorized as a global technology company focused on empowering advertising buyers [1]. - The stock has shown resilience, recovering from significant losses earlier in the year [1]. Market Context - The performance of The Trade Desk Inc. is contrasted with 61 other stocks, indicating a broader market context for its recovery [1].

Group 1 - UBS highlights the upcoming earnings season for small and mid-cap companies focused on AI application software, recommending increased allocation to Applovin (APP.US) and The Trade Desk (TTD.US) as leaders in the "AI + digital advertising" segment [1][2] - The report emphasizes that small-cap stocks are currently more attractive compared to large-cap stocks, with the Russell 2000 index's expected P/E ratio around 15x, below historical averages [2][3] - UBS expects several small-cap AI application software companies to provide positive earnings guidance, with Applovin and The Trade Desk anticipated to exceed market expectations for Q3 [3][4] Group 2 - The integration of AI in digital advertising has accelerated since the rise of ChatGPT, with major players like Google and Meta incorporating generative AI technologies to enhance ad performance [4][5] - UBS notes that the shift in focus from hardware to software in tech investments is benefiting companies like Applovin and The Trade Desk, as demand for AI application software continues to grow [5][6] - UBS maintains an optimistic outlook on Applovin's performance, raising its Q2 2025 revenue forecast to $867 million, reflecting positive trends from App Store advertising policies and strong growth in its self-operated app business [7][8] Group 3 - The Trade Desk is also viewed positively by UBS, with expectations for steady growth in Q2, driven by its "AI + digital advertising" platform and upcoming events that could catalyze further performance [7][8] - Both companies have successfully integrated generative AI and deep learning into their advertising technologies, leading to significant revenue growth and improved operational efficiency [8]

Group 1: The Trade Desk - The Trade Desk operates the largest independent demand-side platform (DSP) for digital advertising, recognized for its growth and innovation [4] - The company maintains a strong position in connected TV and retail advertising due to its independent business model, avoiding conflicts of interest seen in companies like Alphabet and Meta Platforms [5] - In Q1, The Trade Desk reported a revenue increase of 25% to $616 million and non-GAAP earnings rose 27% to $0.33 per diluted share, with a customer retention rate above 95% [6] - Wall Street estimates adjusted earnings growth at 12% annually through 2026, with a median target price of $90 per share, indicating a potential 10% upside from the current price of $82 [7] Group 2: Pure Storage - Pure Storage specializes in enterprise data storage products, particularly known for all-flash arrays that utilize flash memory for speed and reliability [9] - The company has been ranked as a leader in primary storage platforms by Gartner for 11 consecutive years and has a high net promoter score of 82, indicating strong customer satisfaction [10] - In Q1, Pure Storage's revenue increased 12% to $778 million, but non-GAAP operating margin fell by four percentage points, and non-GAAP earnings dropped 9% to $0.29 per diluted share [11] - Wall Street expects adjusted earnings to grow at 19% annually through January 2027, with a median target price of $70 per share, suggesting a 25% upside from the current price of $55 [7][13]

分组1 - The Trade Desk is set to join the S&P 500, which will require index funds to buy shares, creating upward pressure on the stock price [2][3] - The Trade Desk's market cap is approximately $40 billion, and the stock price is around $84, reflecting significant growth since its IPO [3][6] - The company has seen a 2,600% increase in stock value since going public in 2016, indicating strong long-term performance [3] 分组2 - Bitcoin is experiencing increased institutional interest, with companies like Similar Scientific and BlackRock significantly increasing their holdings [8][10] - Bitcoin's market cap is approximately $2.4 trillion, while gold's market cap is about $17.5 trillion, suggesting a potential narrowing gap between the two assets [10] - Regulatory clarity is improving for cryptocurrency trading, which may lead to increased trading volumes and institutional adoption [12] 分组3 - Stock options trading has surged, with Robinhood reporting a 46% increase in options trading in Q1 2025 compared to the previous year [13] - The popularity of options trading is driven by speculative investor behavior, reminiscent of trends seen during the 2021 market [13][14] - A significant portion of options activity is in zero-day options, indicating a trend towards short-term trading strategies [14] 分组4 - Rocket Companies is being closely monitored due to its acquisition strategy and potential for a refinancing boom if mortgage rates decline [16] - Progressive Corporation is highlighted for its strong performance and expected improvement in its combined ratio, indicating effective underwriting discipline [17] - Xometry, an AI-powered manufacturing marketplace, is noted for its growth potential in the context of onshoring manufacturing trends [18][19]