Trade Desk (The) (TTD) Research

Forward Estimates

EPS Estimates

Current Qtr

$0.40

$0.33$0.47

vs $0.41-2.2%

21 analysts

Next Qtr

$0.50

$0.41$0.59

vs $0.45+10.9%

20 analysts

Current Yr

$1.85

$1.56$2.10

vs $1.77+4.5%

23 analysts

Next Yr

$2.15

$1.79$2.58

vs $1.85+16.2%

23 analysts

Revenue Estimates

Current Qtr

$751.63M

$739.73M$757.00M

vs $694.04M+8.3%

31 analysts

Next Qtr

$803.50M

$774.80M$815.23M

vs $739.43M+8.7%

29 analysts

Current Yr

$3.18B

$3.10B$3.21B

vs $2.90B+9.8%

35 analysts

Next Yr

$3.51B

$3.27B$3.94B

vs $3.18B+10.5%

38 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for TTD on EDGAR.

TTD filing events and research context
Filed	Item	Context
Feb 27, 2026	business	The Trade Desk operates a global, AI-enabled demand-side platform (DSP) that empowers advertisers and agencies to programmatically purchase omnichannel digital advertising. Revenue is primarily generated through platform fees based on a percentage of client spend. The company focuses exclusively on the buy-side to avoid the conflicts of interest inherent in competitors like Google and Amazon, who operate both buy- and sell-side tools. Key growth drivers include the generational shift from linear television to connected television (CTV) and the broader expansion of programmatic advertising. The platform leverages AI tools, specifically the Koa co-pilot and Audience Unlimited, to optimize campaign performance and automation. To address the privacy-first landscape and the decline of third-party cookies, the company developed Unified ID 2.0, an open-source identity framework. Other strategic initiatives include OpenPath for direct publisher access and OpenSincera for supply chain transparency. Financial analysts should note the company's high customer retention rate, which has exceeded 95% for over a decade, and significant revenue seasonality peaking in the fourth quarter. Primary risks include evolving global data privacy regulations, such as GDPR and various U.S. state laws, which may limit data availability and platform efficacy.
Feb 27, 2026	mda	The Trade Desk maintains an amended credit facility that restricts its ability to pay dividends. To mitigate share dilution from employee equity compensation, the company utilizes a recurring share repurchase program for Class A common stock. Following several authorizations since February 2023—including a $1 billion authorization in January 2025 and a $500 million authorization in October 2025—the board most recently authorized an additional $350 million in February 2026, leaving $500 million available for future repurchases. During the fourth quarter of 2025, the company repurchased 9.978 million shares, with the average purchase price declining from $51.56 in October to $38.71 in December. These transactions are conducted via open market repurchases and Rule 10b5-1 plans in accordance with Rule 10b-18.
Feb 27, 2026	risk_factors	The Trade Desk’s growth depends on the continued adoption of programmatic advertising and the expansion of its omnichannel reach, specifically within Connected TV (CTV), audio, and mobile formats. Key strategic opportunities include the integration of AI and the utilization of first-party and retail data. However, the company faces significant macroeconomic risks, including inflation and inelastic pricing for hosting infrastructure components. Competitive pressure stems from platforms that sell owned inventory, creating conflicts of interest that the company seeks to differentiate against. Financial performance is subject to seasonality, with peaks in the fourth quarter and during U.S. election cycles. Revenue concentration is a notable risk, as two holding companies accounted for 30% of gross billings in 2025. Additionally, the company is managing several legal challenges, including consolidated data privacy litigation regarding wiretapping and privacy torts, as well as securities class actions and derivative lawsuits related to its reincorporation to Nevada and the CEO Performance Option. Continued profitability relies on managing increasing operating expenses associated with AI development and international expansion into markets such as China, Japan, India, and Europe.

Filed

Item

Context

Feb 27, 2026

business

The Trade Desk operates a global, AI-enabled demand-side platform (DSP) that empowers advertisers and agencies to programmatically purchase omnichannel digital advertising. Revenue is primarily generated through platform fees based on a percentage of client spend. The company focuses exclusively on the buy-side to avoid the conflicts of interest inherent in competitors like Google and Amazon, who operate both buy- and sell-side tools. Key growth drivers include the generational shift from linear television to connected television (CTV) and the broader expansion of programmatic advertising. The platform leverages AI tools, specifically the Koa co-pilot and Audience Unlimited, to optimize campaign performance and automation. To address the privacy-first landscape and the decline of third-party cookies, the company developed Unified ID 2.0, an open-source identity framework. Other strategic initiatives include OpenPath for direct publisher access and OpenSincera for supply chain transparency. Financial analysts should note the company's high customer retention rate, which has exceeded 95% for over a decade, and significant revenue seasonality peaking in the fourth quarter. Primary risks include evolving global data privacy regulations, such as GDPR and various U.S. state laws, which may limit data availability and platform efficacy.

Feb 27, 2026

mda

The Trade Desk maintains an amended credit facility that restricts its ability to pay dividends. To mitigate share dilution from employee equity compensation, the company utilizes a recurring share repurchase program for Class A common stock. Following several authorizations since February 2023—including a $1 billion authorization in January 2025 and a $500 million authorization in October 2025—the board most recently authorized an additional $350 million in February 2026, leaving $500 million available for future repurchases. During the fourth quarter of 2025, the company repurchased 9.978 million shares, with the average purchase price declining from $51.56 in October to $38.71 in December. These transactions are conducted via open market repurchases and Rule 10b5-1 plans in accordance with Rule 10b-18.

Feb 27, 2026

risk_factors

The Trade Desk’s growth depends on the continued adoption of programmatic advertising and the expansion of its omnichannel reach, specifically within Connected TV (CTV), audio, and mobile formats. Key strategic opportunities include the integration of AI and the utilization of first-party and retail data. However, the company faces significant macroeconomic risks, including inflation and inelastic pricing for hosting infrastructure components. Competitive pressure stems from platforms that sell owned inventory, creating conflicts of interest that the company seeks to differentiate against. Financial performance is subject to seasonality, with peaks in the fourth quarter and during U.S. election cycles. Revenue concentration is a notable risk, as two holding companies accounted for 30% of gross billings in 2025. Additionally, the company is managing several legal challenges, including consolidated data privacy litigation regarding wiretapping and privacy torts, as well as securities class actions and derivative lawsuits related to its reincorporation to Nevada and the CEO Performance Option. Continued profitability relies on managing increasing operating expenses associated with AI development and international expansion into markets such as China, Japan, India, and Europe.

Forward Estimates

TTD filing events and research context

Keep researching TTD

Related tickers

Related explainers

Forward Estimates