Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Trade Desk Inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Revenue	715,057)	688,857)	846,791)	739,433)	694,039)	616,021)	741,012)	628,016)	584,550)	491,253)	605,797)	493,266)	464,254)	382,803)	490,737)	394,773)	376,962)	315,323)	395,598)	301,091)	279,967)	219,811)
Platform operations	(184,333)	(181,970)	(163,094)	(162,154)	(150,980)	(142,839)	(135,267)	(122,656)	(110,459)	(103,630)	(100,695)	(93,382)	(86,654)	(84,867)	(79,619)	(70,124)	(67,490)	(63,890)	(66,845)	(53,400)	(50,809)	(50,500)
Gross profit	530,724)	506,887)	683,697)	577,279)	543,059)	473,182)	605,745)	505,360)	474,091)	387,623)	505,102)	399,884)	377,600)	297,936)	411,118)	324,649)	309,472)	251,433)	328,753)	247,691)	229,158)	169,311)
Sales and marketing	(174,404)	(172,179)	(173,596)	(156,830)	(161,131)	(152,743)	(150,629)	(140,296)	(133,867)	(121,725)	(126,793)	(112,466)	(111,489)	(97,222)	(92,829)	(85,038)	(89,420)	(70,688)	(72,501)	(59,278)	(61,755)	(55,764)
Technology and development	(140,742)	(142,720)	(130,595)	(127,893)	(134,251)	(132,402)	(127,893)	(117,705)	(110,035)	(107,686)	(102,004)	(117,772)	(98,308)	(93,710)	(84,479)	(79,915)	(83,483)	(71,999)	(62,836)	(55,847)	(53,536)	(53,918)
General and administrative	(114,001)	(125,341)	(122,633)	(131,337)	(130,900)	(133,585)	(131,914)	(138,878)	(135,469)	(129,555)	(131,867)	(131,969)	(126,130)	(130,312)	(133,650)	(130,892)	(134,826)	(125,799)	(218,777)	(52,120)	(51,919)	(51,845)
Income (loss) from operations	101,577)	66,647)	256,873)	161,219)	116,777)	54,452)	195,309)	108,481)	94,720)	28,657)	144,438)	37,677)	41,673)	(23,308)	100,160)	28,804)	1,743)	(17,053)	(25,361)	80,446)	61,948)	7,784)
Interest income (expense), net	11,508)	13,369)	14,060)	16,490)	18,035)	20,132)	24,956)	19,408)	17,817)	16,661)	18,952)	17,626)	17,507)	14,423)	11,434)	1,741)	656)	(1,076)	(474)	(317)	(194)	(45)
Foreign currency exchange gain (loss), net	6)	(1,058)	(667)	1,810)	(1,611)	1,185)	1,334)	(711)	(45)	715)	(2,714)	1,697)	747)	(723)	526)	(43)	(317)	795)	(747)	(1,153)	(204)	353)
Other income (expense), net	11,514)	12,311)	13,393)	18,300)	16,424)	21,317)	26,290)	18,697)	17,772)	17,376)	16,238)	19,323)	18,254)	13,700)	11,960)	1,698)	339)	(281)	(1,221)	(1,470)	(398)	308)
Income (loss) before income taxes	113,091)	78,958)	270,266)	179,519)	133,201)	75,769)	221,599)	127,178)	112,492)	46,033)	160,676)	57,000)	59,927)	(9,608)	112,120)	30,502)	2,082)	(17,334)	(26,582)	78,976)	61,550)	8,092)
(Provision for) benefit from income taxes	(48,697)	(38,961)	(83,316)	(63,972)	(43,072)	(25,091)	(39,370)	(33,020)	(27,463)	(14,373)	(63,353)	(17,648)	(26,988)	18,934)	(40,933)	(14,633)	(21,155)	2,736)	34,621)	(19,592)	(13,853)	14,550)
Net income (loss)	64,394)	39,997)	186,950)	115,547)	90,129)	50,678)	182,229)	94,158)	85,029)	31,660)	97,323)	39,352)	32,939)	9,326)	71,187)	15,869)	(19,073)	(14,598)	8,039)	59,384)	47,697)	22,642)

Revenue demonstrates a consistent upward trajectory over the analyzed period, characterized by a recurring seasonal pattern where fourth-quarter results significantly outperform other quarters. From March 31, 2021, to June 30, 2026, revenue grew from 219.8 million to 715.1 million, indicating sustained expansion in market reach and demand.

Gross Profitability and Cost Structure: Gross profit has expanded in alignment with revenue growth, maintaining a high and relatively stable margin. Platform operations costs increased from 50.5 million in early 2021 to 184.3 million by mid-2026. This linear scaling of cost of goods sold relative to revenue suggests a predictable cost structure for platform delivery.
Operating Expense Management: Sales and marketing expenses and technology and development costs have both trended upward, reflecting ongoing investment in growth and product innovation. However, general and administrative expenses exhibited a significant anomaly on December 31, 2021, spiking to 218.8 million from a baseline of approximately 52 million. Following this outlier, G&A expenses stabilized and remained largely flat between 114 million and 140 million, demonstrating improved administrative efficiency as the organization scaled.
Operating Income and Leverage: Income from operations has shifted from a period of volatility between 2021 and 2022 toward consistent growth. Operating income in the fourth quarter of 2021 was negative 25.4 million, whereas by the fourth quarter of 2025, it reached 256.9 million. This progression indicates strong operating leverage, as revenue growth is now outpacing the growth of operating expenses.
Non-Operating Income Contributions: Interest income and other net income have become material contributors to the bottom line since 2022. Interest income grew from negligible levels in 2021 to a peak of 25.0 million in December 2024. These non-operating gains have provided a consistent buffer to pre-tax income, supplementing core operational performance.
Net Income Evolution: Net income has transitioned from sporadic quarterly results to a more stable and accelerating growth pattern. Despite losses in early 2022, the company achieved substantial net income growth in 2024 and 2025, with the December 2025 quarter peaking at 187.0 million. This trend highlights an evolution from an aggressive growth phase to a phase of sustainable, high-margin profitability.

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Trade Desk Inc. (NASDAQ:TTD)

Income StatementQuarterly Data

Income Statement
Quarterly Data