Key Takeaways Higher operating costs and macro uncertainty may hurt TTD's profitability and demand. Higher operating costs and macro uncertainty may hurt TTD's profitability and demand. TTD expects a 38% adjusted EBITDA margin, aided by AI tools like Kokai and growing CTV momentumThe Trade Desk, Inc. (TTD) expects at least $682 million in revenues for the second quarter of 2025, implying approximately 17% year-over-year growth. It is to be noted that in the first quarter, the company recorded 25% year-ove ...

Key Takeaways CTV emerges central to TTD's growth, with video ads making up a high-40s percentage share of spend. TTD's new Ventura OS to boost CTV targeting while UID2 and OpenPath tools witness increasing adoption. Macroeconomic volatility and trade tensions may weigh on ad budgets and dampen TTD's revenue growth.The Trade Desk (TTD) is benefiting from higher Connected TV (“CTV”) adoption amid the convergence of internet and television programming. This particular growth driver is fast becoming the focu ...

Key Takeaways TTD's international growth beat North America for the ninth straight quarter despite lower ad spend share. CTV remains a key driver, with over 90M households reached and strong traction worldwide. Two-thirds of clients now use Kokai, cutting costs and boosting efficiency ahead of full adoption this year.In the last reported quarter, The Trade Desk’s (TTD) “International growth again outpaced North America for the ninth quarter in a row,” marking a major milestone. While North America account ...

Key Takeaways TTD posted 25% revenue growth with Kokai adoption ahead of schedule and over 95% customer retention. PUBM's CTV business rose 50% year over year, but total sales fell 4% mainly due to a DSP client shift. TTD trades at a higher P/E than PUBM, raising valuation concerns amid uncertainty.Both The Trade Desk (TTD) and PubMatic (PUBM) play pivotal roles in the programmatic advertising ecosystem, but at opposite ends of the spectrum. TTD operates a leading demand-side platform (DSP), which helps a ...

Key Takeaways TTD repurchased $386M in shares in Q1 2025, exceeding its free cash flow of $230M for the quarter. A $1B authorization backs TTD's repurchase strategy, supported by $1.7B in liquidity and no debt. TTD expects Q2 revenues of at least $682M, implying 17% growth with stable macro conditions.The Trade Desk, Inc. (TTD) announced in its first-quarter 2025 earnings release that it used $386 million in cash to buy back its common stock. Strong balance sheet and consistent cash flow aided the repurch ...

Artificial intelligence (AI) got the bulk of interest from tech investors in the past couple of years, but it's not the only tech sector with upside potential.One industry that is delivering solid growth and still has a long runway ahead of it is ad tech. Digital media has transformed advertising. Alphabet and Meta Platforms are the biggest winners in the industry, but there are others benefiting as well, including ad tech companies taking advantage of continued growth in areas such as connected TV, retail ...

Key Takeaways The Trade Desk teams with HOY to launch programmatic CTV ad trading across the Hong Kong media market. HOY integrates UID2 and OpenPath to boost targeting, efficiency and transparency for digital advertisers. TTD sees HOY's adoption of advanced tools as pivotal to building a modern, high-performance ad ecosystem.The Trade Desk, Inc. (TTD) has announced an expanded partnership with HOY, the media platform operated by i-CABLE Communications Limited. Through this collaboration, HOY will enable ...

A short-term setback gives investors a chance to buy this company, growing its share of a projected $1 trillion market.While the S&P 500 has mostly recovered from its drop earlier this year, most analysts have adjusted their earnings expectations lower due to rising trade tensions and economic uncertainty. As a result, many stocks still look expensive in today's market.Finding a bargain among them sometimes requires looking at stocks beaten down in recent months. Short-term challenges can often create great ...

Financial Data and Key Metrics Changes - Q1 revenue reached $616 million, representing a 25% year-over-year increase [48] - Adjusted EBITDA for the quarter was $208 million, reflecting a 34% margin [48] - Adjusted net income was $165 million, or $0.33 per fully diluted share [52] - Free cash flow was $230 million in Q1 [52] Business Line Data and Key Metrics Changes - CTV (Connected TV) remains the largest and fastest-growing advertising channel, representing a high 40s percentage share of the business [49] - Mobile accounted for a mid-30s percentage share of spend, while display represented a low double-digit share and audio around 5% [49] - The adoption of the Kokai platform accelerated, with about two-thirds of clients now using it, ahead of schedule [62] Market Data and Key Metrics Changes - North America represented approximately 88% of spend, while international markets accounted for about 12% [49] - International growth outpaced North America for the ninth consecutive quarter, particularly driven by CTV [50] Company Strategy and Development Direction - The company aims to capture market share in a more competitive landscape, especially as walled gardens face increased scrutiny [12][19] - The focus is on enhancing the supply chain through innovations like OpenPath and the acquisition of Sincerra [24][29] - The company is optimistic about the future of the open Internet and believes it is well-positioned to benefit from recent antitrust developments against competitors like Google [42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate macroeconomic uncertainties and continue to grow [54] - The company anticipates revenue of at least $682 million in Q2, reflecting a 17% year-over-year growth [55] - Management highlighted the importance of being a trusted partner for clients during uncertain times [78] Other Important Information - The company has no debt and ended the quarter with approximately $1.7 billion in cash and short-term investments [52] - A new COO, Vivek Tundra, has been appointed to help drive growth [40] Q&A Session Summary Question: Can you elaborate on the progress from product and go-to-market changes? - Management noted that Q1 was strong, with significant upgrades contributing to performance and Kokai adoption accelerating [60][62] Question: What are the implications of the Google trial verdict for DSPs? - Management believes the verdict will lead to a fairer market, allowing the company to compete more effectively [72][73] Question: How does the company view Q2 guidance amid uncertainty? - Management remains optimistic about growth opportunities and the ability to support clients through strategic consulting [78][80] Question: How is the competitive landscape evolving, particularly with Amazon? - Management sees Amazon's focus on Prime Video as a limitation and believes the company can capture market share by aligning interests with buyers [85][90] Question: What progress is being made with OpenPath? - Management highlighted the positive developments and new partnerships through OpenPath, despite the current uncertainty in the upfront market [93]

Financial Data and Key Metrics Changes - Q1 revenue reached $616 million, representing a 25% year-over-year increase [45] - Adjusted EBITDA for the quarter was $208 million, reflecting a 34% margin [45] - Adjusted net income was $165 million, or $0.33 per fully diluted share [49] - Free cash flow was $230 million in Q1 [49] Business Line Data and Key Metrics Changes - CTV (Connected TV) remains the largest and fastest-growing advertising channel, representing a high 40s percentage share of the business [46] - Mobile accounted for a mid-30s percentage share of spend, while display represented a low double-digit share and audio around 5% [46] - The adoption of the Kokai platform accelerated, with about two-thirds of clients now using it, ahead of schedule [60] Market Data and Key Metrics Changes - North America represented approximately 88% of spend, while international markets accounted for about 12% [46] - International growth outpaced North America for the ninth consecutive quarter, driven by CTV [47] Company Strategy and Development Direction - The company aims to capture market share in a more competitive landscape, particularly in the open Internet space [19][40] - Innovations like OpenPath and the acquisition of Sincerra are expected to enhance supply chain efficiency and transparency [24][28] - The focus remains on maintaining independence and objectivity to differentiate from competitors like Google and Amazon [45][82] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to navigate macroeconomic uncertainties and continue to grow [51] - The outlook for Q2 anticipates revenue of at least $682 million, reflecting a 17% year-over-year growth [51] - The company is optimistic about the open Internet's prospects following recent antitrust rulings against Google [19][70] Other Important Information - The company has no debt and ended the quarter with approximately $1.7 billion in cash and short-term investments [49] - A significant share repurchase program was executed, with $386 million of Class A common stock repurchased [50] Q&A Session Summary Question: Can you elaborate on the progress from product and go-to-market changes? - Management highlighted strong Q1 performance and noted that upgrades contributed to outperformance, with Kokai adoption ahead of schedule [56][60] Question: What are the implications of Google's antitrust verdict for DSPs? - Management believes the verdict will create a fairer market, allowing the company to compete more effectively against reduced competition from Google [65][70] Question: How does the company view Q2 guidance amid uncertainty? - Management remains optimistic, citing strong underlying business fundamentals and the ability to assist clients in navigating challenges [72][75] Question: How is the competitive landscape evolving, particularly with Amazon? - Management views Amazon's focus on Prime Video as a limitation, asserting that the company’s CTV growth is outpacing Amazon's advertising growth [80][82] Question: What progress is being made with OpenPath and expectations for the upfront? - Management anticipates a stronger performance for programmatic advertising during the upfronts, with ongoing improvements in OpenPath [90][92]