Trade Desk, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $2.9B | $2.4B | $1.9B | $1.6B | $1.2B |
| Cost of revenue | $619.1M | $472.0M | $365.6M | $281.1M | $221.6M |
| Research and development | $525.1M | $463.3M | $411.8M | $319.9M | $226.1M |
| Operating income | $589.3M | $427.2M | $200.5M | $113.7M | $124.8M |
| Interest expense | $1.8M | $1.5M | $1.7M | $4.0M | — |
| Pretax income | $658.8M | $507.3M | $268.0M | $127.4M | $122.0M |
| Income tax expense | $215.5M | $114.2M | $89.1M | $74.0M | -$15.7M |
| Net income | $443.3M | $393.1M | $178.9M | $53.4M | $137.8M |
| Balance Sheet | |||||
| Cash and equivalents | $658.2M | $1.4B | $895.1M | $1.0B | $754.2M |
| Current assets | $5.3B | $5.3B | $4.3B | $3.8B | $3.1B |
| Total assets | $6.2B | $6.1B | $4.9B | $4.4B | $3.6B |
| Current liabilities | $3.3B | $2.9B | $2.5B | $2.0B | $1.8B |
| Total liabilities | $3.7B | $3.2B | $2.7B | $2.3B | $2.1B |
| Stockholders' equity | $2.5B | $2.9B | $2.2B | $2.1B | $1.5B |
| Cash Flow Statement | |||||
| Cash from operations | $992.7M | $739.5M | $598.3M | $548.7M | $378.5M |
| Depreciation and amortization | $115.8M | $87.5M | $80.4M | $54.4M | $42.2M |
| Stock-based compensation | $490.6M | $494.7M | $491.6M | $498.6M | $337.4M |
| Capital expenditure | $197.0M | $98.2M | $46.8M | $84.2M | $54.8M |
| Free cash flow | $795.7M | $641.2M | $551.5M | $464.6M | $323.7M |
| Share repurchases | $1.4B | $234.8M | $646.6M | $0 | $0 |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 470.1M · Free float 76.4%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.