0001157523-21-001360.txt : 20211108 0001157523-21-001360.hdr.sgml : 20211108 20211108073523 ACCESSION NUMBER: 0001157523-21-001360 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20211108 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20211108 DATE AS OF CHANGE: 20211108 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Trade Desk, Inc. CENTRAL INDEX KEY: 0001671933 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 271887399 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37879 FILM NUMBER: 211386530 BUSINESS ADDRESS: STREET 1: 42 N. CHESTNUT STREET CITY: VENTURA STATE: CA ZIP: 93001 BUSINESS PHONE: (805) 585-3434 MAIL ADDRESS: STREET 1: 42 N. CHESTNUT STREET CITY: VENTURA STATE: CA ZIP: 93001 8-K 1 a52523876.htm THE TRADE DESK, INC. 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 8, 2021
 
THE TRADE DESK, INC.
(Exact name of registrant as specified in its charter)
 
Delaware
001-37879
27-1887399
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
 
 
42 N. Chestnut Street
Ventura, California 93001
(Address of principal executive offices) (Zip Code)
 
(805) 585-3434
(Registrant’s telephone number, including area code)
 
Not Applicable
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:

Title of each class
 
Trading Symbol
 
Name of each exchange on which registered
Class A Common Stock, par value $0.000001 per share
 
TTD
 
The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
 
 
 
Emerging growth company  
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
 


Item 2.02                          Results of Operations and Financial Condition.
 
On November 8, 2021, The Trade Desk, Inc. (the “Registrant”) issued a press release announcing its financial results for the quarter ended September 30, 2021. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
 
The information in this Current Report on Form 8-K and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
 
Item 9.01                          Financial Statements and Exhibits.
 
(d)
The following exhibits are being filed herewith:
 
 
Exhibit No.
 
Description
 
 
 
104
 
Cover Page Interactive Data File (formatted as Inline XBRL)


SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. 
 
 
THE TRADE DESK, INC.
(Registrant)
 
 
 
 
Date: November 8, 2021
 
 
 
 
By:
 
/s/ Blake J. Grayson
 
 
 
Blake J. Grayson
     
Chief Financial Officer
      (Principal Financial and Accounting Officer)


 

EX-99.1 2 a52523876ex99_1.htm EXHIBIT 99.1
 
 Exhibit 99.1

The Trade Desk Reports Third Quarter Financial Results

LOS ANGELES--(BUSINESS WIRE)--November 8, 2021--The Trade Desk, Inc. (NASDAQ: TTD), a global technology company that empowers buyers of advertising, today announced financial results for its third quarter ended September 30, 2021.

“We again delivered outstanding performance in the third quarter. Revenue growth of 39% significantly outpaced worldwide programmatic advertising growth. The world’s leading brands and agencies are increasingly using our platform to apply data-driven strategies to drive precision and value across their campaigns,” said Jeff Green, founder and CEO of The Trade Desk. “More data-driven choices by advertisers led to record third quarter revenue of $301.1 million and adjusted EBITDA of $122.7 million. With the launch of Solimar, we are working with the industry to pioneer even greater data-driven precision, whether it’s the application of shopper data in a measurement marketplace, surfacing the right data for every advertising impression, or new approaches to identity that help advertisers make the most of their own valuable data. As a result, we’re seeing growth across all channels, and none more so than Connected TV, as viewers shift to new digital, streaming services and advertisers apply data to TV ad campaigns for the first time.”

Third Quarter 2021 Financial Highlights:

The following table summarizes our consolidated financial results for the three and nine months ended September 30, 2021 and 2020 ($ in millions, except per share amounts):

 


Three Months Ended

 

Nine Months Ended

 


September 30,

 

September 30,

 


2021

 

2020

 

2021

 

2020

GAAP Results


 

 

 


 

 

 


 

 

 


 

 

 

Revenue


$

301.1

 


$

216.1

 


$

800.9

 


$

516.1

 

Increase in revenue year over year


 

39

%


 

32

%


 

55

%


 

16

%

Net Income


$

59.4

 


$

41.2

 


$

129.7

 


$

90.4

 

Diluted EPS


$

0.12

 


$

0.08

 


$

0.26

 


$

0.19

 

 


 

 

 


 

 

 


 

 

 


 

 

 

Non-GAAP Results


 

 

 


 

 

 


 

 

 


 

 

 

Adjusted EBITDA


$

122.7

 


$

77.2

 


$

311.2

 


$

130.7

 

Adjusted EBITDA Margin


 

41

%


 

36

%


 

39

%


 

25

%

Non-GAAP Net Income


$

89.2

 


$

62.7

 


$

247.4

 


$

150.8

 

Non-GAAP Diluted EPS


$

0.18

 


$

0.13

 


$

0.50

 


$

0.31

 

 


 

 

 


 

 

 


 

 

 


 

 

 


Third Quarter and Recent Business Highlights Include:

  • Strong Customer Retention: Customer retention remained over 95% during the quarter, as it has for the previous 7 years
  • Launched our new trading platform Solimar on July 7
    Features include:
    • Upgraded UI to help set better campaign goals
    • The platform’s AI engine Koa™ then uses these goals as a guide to optimize media spend, helping the advertisers to achieve goals faster and more efficiently than ever before
    • Enables onboarding and activating first-party data easier than ever
    • Growing an audience without sacrificing control over consumer experience by utilizing an interoperable Unified ID 2.0 with some of the biggest names in identity
    • The most powerful measurement marketplace in the market today providing marketers the ability to measure the impact of campaigns across every channel and optimize in real time
  • Continued Industry-Wide Collaboration and Support for Unified ID 2.0: The Trade Desk is building support for Unified ID 2.0 (UID2), a new industry-wide approach to identity that preserves the value of relevant advertising, while putting user control and privacy at the forefront. Recent pledges of support, integration and news associated with UID2 include:
    • Global provider of marketing solutions, Interpublic Group
    • Global media, marketing and corporate communications holding company, Omnicom Group
    • TrueData, a data platform specializing in cookieless identity resolution, first party data onboarding, and audience marketing
    • Netwise, a leading provider of multi-channel B2B marketing data
    • Snowflake, an enabler for organizations to mobilize their data with Snowflake’s Data Cloud
    • iCook, a leading online cooking information platform in Taiwan
    • Cookware maker, Made In, saw a 20% improvement in cost per action (CPA) for its campaigns and users converted faster when using UID 2.0 than without. Users converted 22% more when compared to 3P cookies and converted 33% faster.
  • Industry Recognition: The Trade Desk debuted at #6 on FORTUNE’s list of the 100 Fastest Growing Companies for 2021. The Trade Desk was named one of the Top 100 Software Companies of 2021 by The Software Report and won Adweek Readers’ Choice: Best of Tech awards for both Demand Side Platform and Innovator of the Year categories. Additionally, The Trade Desk was included in this year’s Forbes Global 2000 list. And for the fifth consecutive year, The Trade Desk was selected as both a FORTUNE 2021 Best Medium Workplace and a Best Workplace in New York by Great Places to Work.

Financial Guidance:

Our business has been impacted by the COVID-19 pandemic that has significantly impacted advertiser demand. Like many companies that are ad-funded, we are facing a period of higher uncertainty in our business outlook. We expect our business performance could be impacted by issues beyond our control, such as changing economic conditions or additional shelter-in-place orders that may or may not occur. Assuming that the economy continues to recover and we do not have any major COVID-19 related setbacks that may cause economic conditions to deteriorate, we estimate the following:

Fourth Quarter 2021 outlook summary:

  • Revenue at least $388 million
  • Adjusted EBITDA approximately $175 million

We have not provided an outlook for GAAP Net income or reconciliation of adjusted EBITDA guidance to net income, the closest corresponding U.S. GAAP measure, because net income outlook is not available without unreasonable efforts on a forward-looking basis due to the variability and complexity with respect to the charges excluded from these non-GAAP measures; in particular, the measures and effects of our stock-based compensation expense that are directly impacted by unpredictable fluctuations in our share price. We expect the variability of the above charges could have a significant and potentially unpredictable impact on our future U.S. GAAP financial results.

Use of Non-GAAP Financial Information
Included within this press release are the non-GAAP financial measures of Adjusted EBITDA, Non-GAAP net income and Non-GAAP diluted EPS that supplement the Consolidated Statements of Income of The Trade Desk, Inc. (the Company) prepared under generally accepted accounting principles (GAAP). Adjusted EBITDA is earnings before depreciation and amortization, stock-based compensation, interest expense (income), net, and provision for (benefit from) income taxes. Non-GAAP net income excludes charges and the related income tax effects for stock-based compensation. Tax rates on the tax-deductible portions of the stock-based compensation expense approximating 25% to 30% have been used in the computation of non-GAAP net income and non-GAAP diluted EPS. Reconciliations of GAAP to non-GAAP amounts for the periods presented herein are provided in schedules accompanying this release and should be considered together with the Consolidated Statements of Income. These non-GAAP measures are not meant as a substitute for GAAP, but are included solely for informational and comparative purposes. The Company's management believes that this information can assist investors in evaluating the Company's operational trends, financial performance, and cash generating capacity. Management believes these non-GAAP measures allow investors to evaluate the Company’s financial performance using some of the same measures as management. However, the non-GAAP financial measures should not be regarded as a replacement for or superior to corresponding, similarly captioned, GAAP measures and may be different from non-GAAP financial measures used by other companies.


Third Quarter Financial Results Webcast and Conference Call Details

  • When: November 8, 2021 at 8:30 A.M. Pacific Time (11:30 A.M. Eastern Time).
  • Webcast: A live webcast of the call can be accessed from the Investor Relations section of The Trade Desk’s website at http://investors.thetradedesk.com/. Following the call, a replay will be available on the company’s website.
  • Dial-in: To access the call via telephone in North America, please dial 888-506-0062. For callers outside the United States, please dial 1-973-528-0011. Participants should reference the conference call ID code “917520” after dialing in.
  • Audio replay: An audio replay of the call will be available beginning about two hours after the call. To listen to the replay in the United States, please dial 877-481-4010 (replay code: 43477). Outside the United States, please dial 1-919-882-2331 (replay code: 43477). The audio replay will be available via telephone until November 15, 2021.

The Trade Desk, Inc. uses its Investor Relations website (http://investors.thetradedesk.com/investor-overview), its Twitter feed (@TheTradeDesk), LinkedIn page (https://www.linkedin.com/company/the-trade-desk/), and Facebook page (https://www.facebook.com/TheTradeDesk/), and Jeff Green’s Twitter feed (@jefftgreen) and LinkedIn profile (https://www.linkedin.com/in/jefftgreen/) as a means of disclosing information about the company and for complying with its disclosure obligations under Regulation FD. The information that is posted through these channels may be deemed material. Accordingly, investors should monitor these channels in addition to The Trade Desk’s press releases, SEC filings, public conference calls and webcasts.

About The Trade Desk
The Trade Desk is a technology company that empowers buyers of advertising. Through its self-service, cloud-based platform, ad buyers can create, manage, and optimize digital advertising campaigns across ad formats and devices. Integrations with major data, inventory, and publisher partners ensure maximum reach and decisioning capabilities, and enterprise APIs enable custom development on top of the platform. Headquartered in Ventura, CA, The Trade Desk has offices across North America, Europe, and Asia Pacific. To learn more, visit thetradedesk.com or follow us on Facebook, Twitter, LinkedIn and YouTube.


Forward-Looking Statements
This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to expectations concerning matters that (a) are not historical facts, (b) predict or forecast future events or results, or (c) embody assumptions that may prove to have been inaccurate, including statements relating to the industry and market trends, and the Company’s financial targets, such as revenue and Adjusted EBITDA. When words such as “believe,” “expect,” “anticipate,” “will,” “outlook” or similar expressions are used, the Company is making forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give readers any assurance that such expectations will prove correct. These forward-looking statements involve risks, uncertainties and assumptions, including those related to the Company’s relatively limited operating history and the impact of COVID-19 on the Company and its customers and partners, which makes it difficult to evaluate the Company’s business and prospects, the market for programmatic advertising developing slower or differently than the Company’s expectations, the demands and expectations of clients and the ability to attract and retain clients. The actual results may differ materially from those anticipated in the forward-looking statements as a result of numerous factors, many of which are beyond the control of the Company. These are disclosed in the Company’s reports filed from time to time with the Securities and Exchange Commission, including its most recent Form 10-K and any subsequent filings on Forms 10-Q or 8-K, available at www.sec.gov. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company does not intend to update any forward-looking statement contained in this press release to reflect events or circumstances arising after the date hereof.


 


 

 


 

 


 

 


 

 

THE TRADE DESK, INC.

CONSOLIDATED STATEMENTS OF INCOME

(Amounts in thousands, except per share amounts)

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30,

 

September 30,

 

 

2021

 

2020

 

2021

 

2020

Revenue


$

301,091



$

216,113



$

800,869



$

516,128

 

Operating expenses (1):


 

 


 

 


 

 


 

 

Platform operations


 

53,400

 


 

44,826

 


 

154,709

 


 

127,167

 

Sales and marketing


 

59,278

 


 

44,637

 


 

176,797

 


 

116,002

 

Technology and development


 

55,847

 


 

41,079

 


 

163,301

 


 

117,931

 

General and administrative


 

52,120

 


 

42,789

 


 

155,884

 


 

117,252

 

Total operating expenses


 

220,645

 


 

173,331

 


 

650,691

 


 

478,352

 

Income from operations


 

80,446

 


 

42,782

 


 

150,178

 


 

37,776

 

Total other expense, net


 

1,470

 


 

223

 


 

1,560

 


 

834

 

Income before income taxes


 

78,976

 


 

42,559

 


 

148,618

 


 

36,942

 

Provision for (benefit from) income taxes


 

19,592

 


 

1,312

 


 

18,895

 


 

(53,473

)

Net income


$

59,384

 


$

41,247

 


$

129,723

 


$

90,415

 

Earnings per share:


 

 


 

 


 

 


 

 

Basic


$

0.12

 


$

0.09

 


$

0.27

 


$

0.20

 

Diluted


$

0.12

 


$

0.08

 


$

0.26

 


$

0.19

 

Weighted average shares outstanding:


 

 


 

 


 

 


 

 

Basic


 

478,101

 


 

465,819

 


 

475,496

 


 

460,747

 

Diluted


 

498,912

 


 

492,207

 


 

497,942

 


 

487,309

 

_______________________


 

 


 

 


 

 

(1) Includes stock-based compensation expense as follows:

 


 

 


 

 


 

 


 

 

STOCK-BASED COMPENSATION EXPENSE

(Amounts in thousands)

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30,

 

September 30,

 

 

2021

 

2020

 

2021

 

2020

Platform operations


$

2,518

 


$

1,639

 


$

11,624

 


$

5,459

 

Sales and marketing


 

9,099

 


 

6,916

 


 

37,362

 


 

18,549

 

Technology and development


 

11,269

 


 

7,911

 


 

41,337

 


 

24,345

 

General and administrative


 

11,573

 


 

10,386

 


 

41,687

 


 

25,398

 

Total


$

34,459

 


$

26,852

 


$

132,010

 


$

73,751

 

 


 

 


 

 


 

 


 

 


THE TRADE DESK, INC.

CONSOLIDATED BALANCE SHEETS

(Amounts in thousands)

(Unaudited)

 


 

 


 

 

 


As of


As of

 


September 30,
2021


December 31,
2020

ASSETS


 

 


 

 

Current assets:


 

 


 

 

Cash and cash equivalents


$

576,916


$

437,353

Short-term investments, net


 

221,685


 

186,685

Accounts receivable, net


 

1,624,759


 

1,584,109

Prepaid expenses and other current assets


 

92,557


 

102,170

Total current assets


 

2,515,917


 

2,310,317

Property and equipment, net


 

137,416


 

115,863

Operating lease assets


 

242,436


 

248,143

Deferred income taxes


 

46,405


 

50,168

Other assets, non-current


 

46,581


 

29,154

Total assets


$

2,988,755


$

2,753,645

 


 

 


 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY


 

 


 

 

Current liabilities:


 

 


 

 

Accounts payable


$

1,304,971


$

1,348,480

Accrued expenses and other current liabilities


 

77,323


 

88,335

Operating lease liabilities


 

45,603


 

37,868

Total current liabilities


 

1,427,897


 

1,474,683

Operating lease liabilities, non-current


 

247,923


 

254,562

Other liabilities, non-current


 

10,121


 

11,255

Total liabilities


 

1,685,941


 

1,740,500

 


 

 


 

 

Stockholders' equity:


 

 


 

 

Preferred stock


 


 

Common stock


 


 

Additional paid-in capital


 

698,724


 

538,778

Retained earnings


 

604,090


 

474,367

Total stockholders' equity


 

1,302,814


 

1,013,145

Total liabilities and stockholders' equity


$

2,988,755


$

2,753,645

 


 

 


 

 


THE TRADE DESK, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands)

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30,

 

 

2021

 

2020

OPERATING ACTIVITIES:


 

 

 


 

 

 

Net income


$

129,723

 


$

90,415

 

Adjustments to reconcile net income to net cash provided by operating activities:


 

 

 


 

 

 

Depreciation and amortization


 

29,969

 


 

20,777

 

Stock-based compensation


 

132,010

 


 

73,751

 

Allowance for credit losses on accounts receivable


 

520

 


 

2,722

 

Noncash lease expense


 

29,914

 


 

24,052

 

Deferred income taxes


 

5,044

 


 

(20,978

)

Other


 

6,730

 


 

1,242

 

Changes in operating assets and liabilities:


 

 

 


 

 

 

Accounts receivable


 

(48,637

)


 

21,063

 

Prepaid expenses and other assets


 

20,627

 


 

(23,919

)

Accounts payable


 

(44,105

)


 

47,728

 

Accrued expenses and other liabilities


 

(14,790

)


 

11,047

 

Operating lease liabilities


 

(31,886

)


 

(10,388

)

Net cash provided by operating activities


 

215,119

 


 

237,512

 

INVESTING ACTIVITIES:


 

 

 


 

 

 

Purchases of investments


 

(233,427

)


 

(127,254

)

Sales of investments


 

4,539

 


 

 

Maturities of investments


 

192,077

 


 

128,315

 

Purchases of property and equipment


 

(43,920

)


 

(57,721

)

Capitalized software development costs


 

(3,684

)


 

(4,246

)

Business acquisition


 

(13,261

)


 

 

Net cash used in investing activities


 

(97,676

)


 

(60,906

)

FINANCING ACTIVITIES:


 

 

 


 

 

 

Proceeds from line of credit


 

 


 

143,000

 

Repayment on line of credit


 

 


 

(71,000

)

Payment of debt financing costs


 

(1,924

)


 

 

Proceeds from exercise of stock options


 

39,559

 


 

54,038

 

Proceeds from employee stock purchase plan


 

22,758

 


 

15,035

 

Taxes paid related to net settlement of restricted stock awards


 

(38,273

)


 

(14,184

)

Net cash provided by financing activities


 

22,120

 


 

126,889

 

Increase in cash and cash equivalents


 

139,563

 


 

303,495

 

Cash and cash equivalents—Beginning of period


 

437,353

 


 

130,876

 

Cash and cash equivalents—End of period


$

576,916

 


$

434,371

 

 


 

 

 


 

 

 


Non-GAAP Financial Metrics
(Amounts in thousands, except per share amounts)

The following tables show the Company’s non-GAAP financial metrics reconciled to the comparable GAAP financial metrics included in this release.

 


Three Months Ended

 

Nine Months Ended

 


September 30,

 

September 30,

 


2021

 

2020

 

2021

 

2020

 


 

 

Net income


$

59,384

 


$

41,247

 


$

129,723

 


$

90,415

 

Add back:


 

 

 


 

 

 


 

 

 


 

 

 

Depreciation and amortization


 

8,952

 


 

7,517

 


 

29,969

 


 

20,777

 

Stock-based compensation


 

34,459

 


 

26,852

 


 

132,010

 


 

73,751

 

Interest expense (income), net


 

317

 


 

235

 


 

556

 


 

(740

)

Provision for (benefit from) income taxes


 

19,592

 


 

1,312

 


 

18,895

 


 

(53,473

)

Adjusted EBITDA


$

122,704

 


$

77,163

 


$

311,153

 


$

130,730

 

 


 

 

 


 

 

 


 

 

 


 

 

 

 


Three Months Ended

 

Nine Months Ended

 


September 30,

 

September 30,

 


2021

 

2020

 

2021

 

2020

GAAP net income


$

59,384

 


$

41,247

 


$

129,723

 


$

90,415

 

Add back (deduct):


 

 

 


 

 

 


 

 

 


 

 

 

Stock-based compensation expense


 

34,459

 


 

26,852

 


 

132,010

 


 

73,751

 

Adjustment for income taxes


 

(4,616

)


 

(5,440

)


 

(14,305

)


 

(13,341

)

Non-GAAP net income


$

89,227

 


$

62,659

 


$

247,428

 


$

150,825

 

 


 

 

 


 

 

 


 

 

 


 

 

 

GAAP diluted EPS


$

0.12

 


$

0.08

 


$

0.26

 


$

0.19

 

Non-GAAP diluted EPS


$

0.18

 


$

0.13

 


$

0.50

 


$

0.31

 

 


 

 

 


 

 

 


 

 

 


 

 

 

Weighted average shares outstanding—diluted


 

498,912

 


 

492,207

 


 

497,942

 


 

487,309

 

 

Contacts

Investors
Chris Toth
Vice President Investor Relations, The Trade Desk
ir@thetradedesk.com
310-334-9183

Media
Ian Colley
Vice President Public Relations, The Trade Desk
ian.colley@thetradedesk.com
914-434-3043

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