8-K
Trade Desk, Inc. (TTD)
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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 9, 2023
THE TRADE DESK, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-37879 | 27-1887399 |
|---|---|---|
| (State or other jurisdiction<br><br> of incorporation) | (Commission<br><br> File Number) | (I.R.S. Employer<br><br> 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:
| ☐ | 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 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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 9, 2023, The Trade Desk, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2023. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
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 |
| --- | --- |
| 99.1 | Press release of the Company, dated November 9, 2023. |
| 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.<br><br> <br>(Registrant) | ||
|---|---|---|
| Date: November 9, 2023 | By: | /s/ Laura Schenkein |
| Laura Schenkein | ||
| Chief Financial Officer<br><br> <br>(Principal Financial and Accounting Officer) | ||
| Exhibit 99.1 | ||
| --- |
The Trade Desk Reports Third Quarter 2023 Financial Results
LOS ANGELES--(BUSINESS WIRE)--November 9, 2023--The Trade Desk, Inc. (NASDAQ: TTD), a provider of a global technology platform for buyers of advertising, today announced financial results for its third quarter ended September 30, 2023.
“Q3 was a strong quarter for The Trade Desk as we delivered revenue of $493 million, accelerating growth to 25%. This performance underlines the premium that advertisers are placing on precision, agility and transparency as they seek to maximize returns from their campaigns,” said Jeff Green, Co-founder and CEO of The Trade Desk. “As we enter our busiest time of year and look ahead to 2024, we have never been in a better position to capture greater share of the $1 trillion advertising TAM. With the generational shift to CTV, the growing opportunity in shopper marketing, our leadership in identity, and our most important product release ever with Kokai, we are better positioned than ever to help advertisers leverage data to drive growth and differentiate their brands.”
Third Quarter 2023 Financial Highlights:
The following table summarizes our consolidated financial results for the three and nine months ended September 30, 2023 and 2022 ($ in millions, except per share amounts):
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |||||||||
| GAAP Results | ||||||||||||
| Revenue | $ | 493 | $ | 395 | $ | 1,340 | $ | 1,087 | ||||
| Increase in revenue year over year | 25 | % | 31 | % | 23 | % | 36 | % | ||||
| Net income (loss) | $ | 39 | $ | 16 | $ | 82 | $ | (18 | ) | |||
| GAAP diluted earnings (loss) per share | $ | 0.08 | $ | 0.03 | $ | 0.16 | $ | (0.04 | ) | |||
| Non-GAAP Results | ||||||||||||
| Adjusted EBITDA | $ | 200 | $ | 163 | $ | 488 | $ | 423 | ||||
| Adjusted EBITDA margin | 40 | % | 41 | % | 36 | % | 39 | % | ||||
| Non-GAAP net income | $ | 167 | $ | 129 | $ | 421 | $ | 332 | ||||
| Non-GAAP diluted earnings per share | $ | 0.33 | $ | 0.26 | $ | 0.84 | $ | 0.66 |
Third Quarter and Recent Business Highlights:
Strong Customer Retention: Customer retention remained over 95% during the third quarter, as it has for the past nine consecutive years.
**Continued Collaboration and Support for Unified ID 2.0:**The Trade Desk is building support for Unified ID 2.0 (UID2), an industry-wide approach to identity that preserves the value of relevant advertising, while putting user control and privacy at the forefront. UID2 is an upgrade and alternative to third-party cookies. Recent partnerships and pledges of integration and support include:
- With its integration of UID2, device and software company HP has seen improved targeting on CTV, and as a result, the company has reduced wasted advertising spend.
- In September, Philo adopted UID2 across its roster of premium streaming TV channels.
- Warner Bros. Discovery announced integration with UID2 across its premium entertainment, sports, news and lifestyle brands with its digital platforms, including Max and Discovery+.
- Walmart Connect announced it is testing the integration of UID2 to inform decisioning across the open internet within the Walmart DSP.
- EUID, the European counterpart to UID2 specifically developed for the European market, is gaining support across Europe from brands, publishers, and retailers. Initial industry engagement includes Bacardi, Kimberly-Clark, Aller Media, Future, OneFootball, Prisma Media, Tesco, and others.
- On stage at Forward '23: Always On, NBCUniversal announced it is implementing UID2 on Peacock across all devices and consumer touchpoints, including on CTV, the web, apps and devices.
OpenPath: OpenPath gives our clients a simplified, direct connection to participating premium publishers across the open internet. By supporting an objective, transparent supply path, OpenPath helps to maximize value for everyone involved. OpenPath is already live with dozens of publishers representing over 11,000 destinations across connected TV, mobile, display and audio.
Industry Recognition (2023):
- Digiday Video and TV Awards - Best TV/Streaming Ad Sales Product of the Year
- DigiZ Awards Hong Kong - Best Programmatic Advertising Platform
- Marketing Excellence Awards Singapore - Excellence in Data-Driven Marketing - Gold
- The Forrester Wave - Omnichannel Demand-Side Platforms Leader
- Quadrant Knowledge Solutions SPARK Matrix for Ad Tech - Technology Leader
- Stevie Awards for Customer Service Success - Bronze, Technology Industries
- Ad Age 40 under 40 Award Winner - Jaime Nash
- Top Women in Media and AdTech Award Winners: Samantha Jacobson - Change-Maker, Catherine Patterson - Tech Trailblazer, Jaime Nash - Programmatic Storyteller
- Business Insider Rising Stars of AdTech - Ellen Mulryan, Sr. Dir. of Retail Data Partnerships
- Fortune - Best Workplaces for Millennials
- Fortune - Best Workplaces in Technology
- Institutional Investor 2023-2024 All-America Executive Team List - Jeff Green, Founder and CEO
- US News & World Report - Best Media Companies To Work For
- National Intern Day - Top 100 Internship Programs of 2023
Share Repurchases: We repurchased $90 million of our Class A common stock in the third quarter of 2023. As of September 30, 2023, we had $273 million available and authorized for repurchases.
Financial Guidance:
Fourth Quarter 2023 outlook summary:
- Revenue at least $580 million
- Adjusted EBITDA of approximately $270 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 Condensed Consolidated Statements of Operations of The Trade Desk, Inc. (the Company) prepared under generally accepted accounting principles (GAAP). Adjusted EBITDA is earnings before interest income, net; provision for income taxes; depreciation and amortization; and stock-based compensation. 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 Condensed Consolidated Statements of Operations. 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 2023 Financial Results Webcast and Conference Call Details
- When: November 9, 2023 at 2:00 P.M. Pacific Time (5:00 P.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 “130063” 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: 49251). Outside the United States, please dial 1-919-882-2331 (replay code: 49251). The audio replay will be available via telephone until November 16, 2023.
The Trade Desk, Inc. uses its Investor Relations website (http://investors.thetradedesk.com/), its Twitter feed (@TheTradeDesk), LinkedIn page (https://www.linkedin.com/company/the-trade-desk/), Facebook page (https://www.facebook.com/TheTradeDesk/), 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 in which we participate 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, 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. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands, except per share amounts) (Unaudited) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Three Months Ended <br><br> September 30, | Nine Months Ended <br><br> September 30, | |||||||||||
| 2023 | 2022 | 2023 | 2022 | |||||||||
| Revenue | $ | 493,266 | $ | 394,773 | $ | 1,340,323 | $ | 1,087,058 | ||||
| Operating expenses ^(1)^: | ||||||||||||
| Platform operations | 93,382 | 70,124 | 264,903 | 201,504 | ||||||||
| Sales and marketing | 112,466 | 85,038 | 321,177 | 245,146 | ||||||||
| Technology and development | 117,772 | 79,915 | 309,790 | 235,397 | ||||||||
| General and administrative | 131,969 | 130,892 | 388,411 | 391,517 | ||||||||
| Total operating expenses | 455,589 | 365,969 | 1,284,281 | 1,073,564 | ||||||||
| Income from operations | 37,677 | 28,804 | 56,042 | 13,494 | ||||||||
| Total other income, net | (19,323 | ) | (1,698 | ) | (51,277 | ) | (1,756 | ) | ||||
| Income before income taxes | 57,000 | 30,502 | 107,319 | 15,250 | ||||||||
| Provision for income taxes | 17,648 | 14,633 | 25,702 | 33,052 | ||||||||
| Net income (loss) | $ | 39,352 | $ | 15,869 | $ | 81,617 | $ | (17,802 | ) | |||
| Earnings (loss) per share: | ||||||||||||
| Basic | $ | 0.08 | $ | 0.03 | $ | 0.17 | $ | (0.04 | ) | |||
| Diluted | $ | 0.08 | $ | 0.03 | $ | 0.16 | $ | (0.04 | ) | |||
| Weighted-average shares outstanding: | ||||||||||||
| Basic | 489,447 | 487,963 | 489,195 | 486,168 | ||||||||
| Diluted | 501,880 | 500,300 | 500,348 | 486,168 |
___________________________
| ^(1)^ | Includes stock-based compensation expense as follows: | |||||||
|---|---|---|---|---|---|---|---|---|
| THE TRADE DESK, INC. STOCK-BASED COMPENSATION EXPENSE (Amounts in thousands) (Unaudited) | ||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Three Months Ended <br><br> September 30, | Nine Months Ended <br><br> September 30, | |||||||
| 2023 | 2022 | 2023 | 2022 | |||||
| Platform operations | $ | 5,729 | $ | 3,517 | $ | 14,642 | $ | 14,254 |
| Sales and marketing | 21,116 | 14,861 | 54,039 | 48,718 | ||||
| Technology and development | 43,727 | 22,641 | 91,283 | 67,258 | ||||
| General and administrative ^(1)^ | 69,061 | 79,984 | 210,222 | 240,881 | ||||
| Total | $ | 139,633 | $ | 121,003 | $ | 370,186 | $ | 371,111 |
___________________________
| ^(1)^ | Includes stock-based compensation expense related to a long-term CEO performance grant of $48 million and $66 million for the three months ended September 30, 2023 and 2022, respectively,<br> as well as $156 million and $197 million for the nine months ended September 30, 2023 and 2022, respectively. |
|---|
| THE TRADE DESK, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands) (Unaudited) | ||||
|---|---|---|---|---|
| As of September 30, <br><br> 2023 | As of December 31, <br><br> 2022 | |||
| ASSETS | ||||
| Current assets: | ||||
| Cash and cash equivalents | $ | 1,071,764 | $ | 1,030,506 |
| Short-term investments, net | 450,117 | 416,080 | ||
| Accounts receivable, net | 2,434,047 | 2,347,195 | ||
| Prepaid expenses and other current assets | 57,878 | 51,836 | ||
| Total current assets | 4,013,806 | 3,845,617 | ||
| Property and equipment, net | 152,863 | 173,759 | ||
| Operating lease assets | 208,583 | 220,396 | ||
| Deferred income taxes | 94,028 | 94,028 | ||
| Other assets, non-current | 51,152 | 46,879 | ||
| Total assets | $ | 4,520,432 | $ | 4,380,679 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||
| Current liabilities: | ||||
| Accounts payable | $ | 1,967,649 | $ | 1,871,419 |
| Accrued expenses and other current liabilities | 121,616 | 105,474 | ||
| Operating lease liabilities | 57,890 | 52,430 | ||
| Total current liabilities | 2,147,155 | 2,029,323 | ||
| Operating lease liabilities, non-current | 190,207 | 208,527 | ||
| Other liabilities, non-current | 27,544 | 27,490 | ||
| Total liabilities | 2,364,906 | 2,265,340 | ||
| Stockholders' equity: | ||||
| Preferred stock | — | — | ||
| Common stock | — | — | ||
| Additional paid-in capital | 1,835,107 | 1,449,825 | ||
| Retained earnings | 320,419 | 665,514 | ||
| Total stockholders' equity | 2,155,526 | 2,115,339 | ||
| Total liabilities and stockholders' equity | $ | 4,520,432 | $ | 4,380,679 |
| THE TRADE DESK, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands) (Unaudited) | ||||||
|---|---|---|---|---|---|---|
| Nine Months Ended September 30, | ||||||
| 2023 | 2022 | |||||
| OPERATING ACTIVITIES: | ||||||
| Net income (loss) | $ | 81,617 | $ | (17,802 | ) | |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
| Depreciation and amortization | 59,889 | 37,581 | ||||
| Stock-based compensation | 370,186 | 371,111 | ||||
| Noncash lease expense | 36,672 | 32,554 | ||||
| Allowance for credit losses on accounts receivable | 1,811 | 2,961 | ||||
| Deferred income taxes | — | 604 | ||||
| Other | (8,312 | ) | 3,694 | |||
| Changes in operating assets and liabilities: | ||||||
| Accounts receivable | (130,650 | ) | 24,905 | |||
| Prepaid expenses and other current and non-current assets | (11,370 | ) | 42,913 | |||
| Accounts payable | 125,661 | (68,758 | ) | |||
| Accrued expenses and other current and non-current liabilities | 18,439 | (18,778 | ) | |||
| Operating lease liabilities | (36,741 | ) | (35,731 | ) | ||
| Net cash provided by operating activities | 507,202 | 375,254 | ||||
| INVESTING ACTIVITIES: | ||||||
| Purchases of investments | (448,251 | ) | (379,206 | ) | ||
| Sales of investments | — | 1,977 | ||||
| Maturities of investments | 425,400 | 252,699 | ||||
| Purchases of property and equipment | (21,594 | ) | (36,394 | ) | ||
| Capitalized software development costs | (6,097 | ) | (4,833 | ) | ||
| Net cash used in investing activities | (50,542 | ) | (165,757 | ) | ||
| FINANCING ACTIVITIES: | ||||||
| Repurchases of Class A common stock | (426,684 | ) | — | |||
| Proceeds from exercise of stock options | 45,363 | 42,712 | ||||
| Proceeds from employee stock purchase plan | 21,316 | 25,547 | ||||
| Taxes paid related to net settlement of restricted stock awards | (55,397 | ) | (37,254 | ) | ||
| Net cash provided by (used in) financing activities | (415,402 | ) | 31,005 | |||
| Increase in cash and cash equivalents | 41,258 | 240,502 | ||||
| Cash and cash equivalents—Beginning of period | 1,030,506 | 754,154 | ||||
| Cash and cash equivalents—End of period | $ | 1,071,764 | $ | 994,656 |
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 September 30, | Nine Months Ended September 30, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |||||||||
| Net income (loss) | $ | 39,352 | $ | 15,869 | $ | 81,617 | $ | (17,802 | ) | |||
| Add back (deduct): | ||||||||||||
| Depreciation and amortization expense | 20,530 | 12,957 | 59,889 | 37,581 | ||||||||
| Stock-based compensation expense | 139,633 | 121,003 | 370,186 | 371,111 | ||||||||
| Interest income, net | (17,626 | ) | (1,741 | ) | (49,556 | ) | (1,321 | ) | ||||
| Provision for income taxes | 17,648 | 14,633 | 25,702 | 33,052 | ||||||||
| Adjusted EBITDA | $ | 199,537 | $ | 162,721 | $ | 487,838 | $ | 422,621 | ||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||
| 2023 | 2022 | 2023 | 2022 | |||||||||
| GAAP net income (loss) | $ | 39,352 | $ | 15,869 | $ | 81,617 | $ | (17,802 | ) | |||
| Add back (deduct): | ||||||||||||
| Stock-based compensation expense | 139,633 | 121,003 | 370,186 | 371,111 | ||||||||
| Adjustment for income taxes | (11,742 | ) | (8,284 | ) | (30,566 | ) | (21,419 | ) | ||||
| Non-GAAP net income | $ | 167,243 | $ | 128,588 | $ | 421,237 | $ | 331,890 | ||||
| GAAP diluted earnings (loss) per share | $ | 0.08 | $ | 0.03 | $ | 0.16 | $ | (0.04 | ) | |||
| GAAP weighted-average shares outstanding—diluted | 501,880 | 500,300 | 500,348 | 486,168 | ||||||||
| Non-GAAP diluted earnings per share | $ | 0.33 | $ | 0.26 | $ | 0.84 | $ | 0.66 | ||||
| Non-GAAP weighted-average shares used in computing Non-GAAP earnings per share, diluted ^(1)^ | 501,880 | 500,300 | 500,348 | 499,754 |
_________________________
| ^(1)^ | Includes an additional 13.6 million of dilutive securities for the nine months ended September 30, 2022, which are not included in GAAP diluted weighted-average shares outstanding due to<br> the Company's net loss position for the nine months ended September 30, 2022. |
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Contacts
Investors
Jake Graves
Manager, Investor Relations
The Trade Desk
ir@thetradedesk.com
312-620-0806
Media
Melinda Zurich
VP, Communications
The Trade Desk
melinda.zurich@thetradedesk.com
201-320-9398