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.
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- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Income Statement
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2016
- Return on Assets (ROA) since 2016
- Total Asset Turnover since 2016
- Price to Earnings (P/E) since 2016
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Trade Desk Inc., consolidated income statement (quarterly data)
US$ in thousands
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The financial performance exhibited significant fluctuations over the observed period. Revenue demonstrated a general upward trajectory, although not consistently. Initial growth from March 2021 to December 2021 was followed by a dip in the first quarter of 2022, before resuming growth through December 2024. A decline in revenue is then observed in the first two quarters of 2025.
Gross profit mirrored the revenue trend, experiencing growth until the end of 2021, a decline in early 2022, and subsequent recovery. However, the rate of gross profit growth did not consistently align with revenue growth, indicating potential shifts in the cost of goods sold or pricing strategies.
- Operating Expenses
- Platform operations consistently represented a substantial expense, increasing in absolute terms throughout the period. Sales and marketing expenses also increased, with a notable surge in the second quarter of 2022. Technology and development expenses showed a similar pattern of increase, suggesting continued investment in innovation. General and administrative expenses were relatively stable until a significant increase in the first quarter of 2021, followed by a decrease and then a gradual increase again. The combined effect of these expenses significantly impacted income from operations.
Income from operations displayed considerable volatility. A strong performance in the first three quarters of 2021 was followed by a loss in the fourth quarter. This pattern of fluctuation continued throughout 2022 and 2023, with a substantial increase in profitability in the latter half of 2023 and into 2024. The first half of 2025 shows a decrease in operating income.
- Net Income
- Net income exhibited even greater variability than income from operations, heavily influenced by fluctuations in income tax provisions. The company experienced net losses in the first and second quarters of 2022, and again in the first quarter of 2024. Significant net income was recorded in the later quarters of 2023 and the first three quarters of 2024, before a decline in the final quarter of 2024 and the first two quarters of 2025. The impact of income taxes was particularly pronounced in the first quarter of 2021 and the fourth quarter of 2021, with large provisions and benefits respectively.
- Other Income and Expenses
- Interest income (expense), net, remained relatively small, with a net expense in some periods and income in others. Foreign currency exchange gains and losses fluctuated, with a notable gain in the fourth quarter of 2022. Other income (expense), net, also showed variability, contributing to the overall net income picture.
Overall, the financial performance demonstrated a pattern of growth interspersed with periods of decline and volatility. The company’s ability to manage operating expenses and navigate fluctuations in income tax provisions appears to be critical to its profitability.