The Trade Desk(TTD) - 2024 Q4 - Annual Results

Financial Performance - The Trade Desk reported fourth quarter revenue of $741 million, a 22% increase year over year, and full year revenue of $2.4 billion, reflecting a 26% growth compared to 2023[4]. - Net income for the fourth quarter was $182 million, with a net income margin of 25%, while full year net income reached $393 million, representing a margin of 16%[4]. - The company achieved an adjusted EBITDA of $350 million in the fourth quarter, maintaining a margin of 47%, and a full year adjusted EBITDA of $1.01 billion, with a margin of 41%[4]. - Net income for the year ended December 31, 2024, was $393,076 million, a significant increase of 119.9% from $178,940 million in 2023[25]. - Adjusted EBITDA for the year ended December 31, 2024, was $1,010,649 million, representing a 31% increase from $771,526 million in 2023[27]. - Cash and cash equivalents at the end of the year on December 31, 2024, were $1,369,463 million, up from $895,129 million in 2023, marking a 53% increase[24]. - Total assets as of December 31, 2024, amounted to $6,111,951 million, a 24.9% increase from $4,888,687 million in 2023[23]. - Non-GAAP net income for the year ended December 31, 2024, was $832,303 million, compared to $628,099 million in 2023, reflecting a 32.5% growth[27]. - The company reported a GAAP diluted earnings per share of $0.78 for the year ended December 31, 2024, compared to $0.36 in 2023[27]. Customer Metrics - Customer retention remained over 95% for the year, consistent with the past eleven years[5]. Acquisitions and Investments - The Trade Desk announced an agreement to acquire Sincera, a digital advertising data company, expected to close in Q1 2025[8]. - The company has authorized an additional $564 million for share repurchases, bringing the total to $1 billion[12]. - The company repurchased $234,784 million of Class A common stock during the year, down from $646,597 million in 2023[24]. Operational Highlights - The Trade Desk's platform facilitated $12 billion in gross spend for 2024, indicating strong market demand[5]. - Platform operations revenue for the year ended December 31, 2024, reached $29,310 million, a 39.2% increase from $21,048 million in 2023[20]. - Total sales and marketing expenses for the year ended December 31, 2024, were $99,135 million, up 30.5% from $75,924 million in 2023[20]. - Technology and development expenses increased to $138,393 million for the year ended December 31, 2024, compared to $120,823 million in 2023, reflecting a 14.5% rise[20]. Future Outlook - Financial guidance for Q1 2025 includes expected revenue of at least $575 million and adjusted EBITDA of approximately $145 million[8]. - The company plans to launch the Ventura Operating System to enhance streaming TV experiences and advertising efficiency[8].