Every 10-Q that The Trade Desk, Inc. (TTD) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow TTD and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TTD filings page.
The Trade Desk (TTD) reported solid Q3 2025 results, with revenue of $739.4 million, up 18% year over year, and net income of $115.5 million, up 23%. Operating income rose to $161.2 million, reflecting improved operating leverage as total operating expenses grew slower than revenue.
Diluted EPS was $0.23. Cash and cash equivalents were $653.1 million, with $792.3 million in short‑term investments. Operating cash flow reached $681.1 million for the first nine months. The company repurchased 6 million Class A shares for $318 million in Q3 and $975 million year to date, leaving $60 million authorized at quarter‑end; in October, an additional $500 million was authorized.
TTD ended Q3 with no borrowings and $443 million available under its revolving credit facility. The company recognized $118 million as income taxes receivable related to domestic R&D deductions under the OBBBA, reducing deferred tax assets. Management continues to invest in platform operations, AI, and international expansion while maintaining a single operating segment.
The Trade Desk (TTD) delivered another growth quarter. Q2 2025 revenue rose 19% YoY to $694 M, lifting six-month revenue 22% to $1.31 B. Operating income increased 23% to $116.8 M (17% margin) and net income reached $90.1 M, or diluted EPS $0.18, versus $0.17 last year. Cash-generating ability remained strong: operating cash flow was $456 M YTD, up 71%.
Balance sheet highlights: Cash & equivalents declined to $896 M from $1.37 B at FY-24 mainly due to $657 M of share repurchases; $375 M remains authorized. Short-term investments grew to $791 M. The company ended the quarter debt-free with $443 M undrawn on its $450 M revolving credit facility.
Cost trends: Total operating expenses climbed 18% YoY to $577 M. Hosting (platform operations) jumped 37% reflecting higher impression volume and new data centers; stock-based compensation remained significant at $129 M for the quarter, though CEO option expense declined. Despite spend, TTD preserved profitability and generated positive free cash flow after $104 M of capex.
Capital allocation & risk: Aggressive buybacks and litigation (securities, privacy and governance cases) are notable headwinds, but the firm’s solid liquidity, absence of debt and 86% U.S. gross billings mix provide resilience.