Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Trade Desk Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

	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
Accounts payable	2,562,580)	2,633,030)	3,007,651)	2,761,261)	2,724,093)	2,398,948)	2,631,213)	2,409,773)	2,336,589)	2,094,855)	2,317,318)	1,967,649)	1,892,906)	1,677,154)	1,871,419)	1,651,447)	1,537,448)	1,405,673)	1,655,684)	1,304,971)	1,222,220)	1,142,258)
Accrued expenses and other current liabilities	150,174)	179,907)	181,991)	160,381)	152,477)	210,813)	177,760)	142,459)	120,218)	131,287)	137,996)	121,616)	103,285)	100,146)	105,474)	82,768)	79,339)	92,903)	101,472)	77,323)	66,759)	83,530)
Operating lease liabilities, current	80,922)	77,505)	76,355)	73,129)	72,414)	72,301)	64,492)	62,858)	61,579)	57,208)	55,524)	57,890)	54,793)	53,054)	52,430)	51,025)	48,287)	47,226)	46,149)	45,603)	39,594)	37,688)
Current liabilities	2,793,676)	2,890,442)	3,265,997)	2,994,771)	2,948,984)	2,682,062)	2,873,465)	2,615,090)	2,518,386)	2,283,350)	2,510,838)	2,147,155)	2,050,984)	1,830,354)	2,029,323)	1,785,240)	1,665,074)	1,545,802)	1,803,305)	1,427,897)	1,328,573)	1,263,476)
Operating lease liabilities, non-current	353,188)	346,070)	359,975)	302,848)	271,135)	262,667)	247,723)	230,355)	202,769)	180,456)	180,369)	190,207)	198,075)	200,728)	208,527)	215,728)	219,341)	229,489)	238,449)	247,923)	252,995)	245,899)
Other liabilities, non-current	43,230)	44,386)	42,857)	41,996)	41,857)	44,028)	41,618)	34,130)	33,361)	33,436)	33,261)	27,544)	26,499)	27,749)	27,490)	8,698)	8,500)	8,327)	8,280)	10,121)	9,034)	9,011)
Non-current liabilities	396,418)	390,456)	402,832)	344,844)	312,992)	306,695)	289,341)	264,485)	236,130)	213,892)	213,630)	217,751)	224,574)	228,477)	236,017)	224,426)	227,841)	237,816)	246,729)	258,044)	262,029)	254,910)
Total liabilities	3,190,094)	3,280,898)	3,668,829)	3,339,615)	3,261,976)	2,988,757)	3,162,806)	2,879,575)	2,754,516)	2,497,242)	2,724,468)	2,364,906)	2,275,558)	2,058,831)	2,265,340)	2,009,666)	1,892,915)	1,783,618)	2,050,034)	1,685,941)	1,590,602)	1,518,386)
Preferred stock, par value $0.000001; zero shares issued and outstanding	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock, par value $0.000001	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Additional paid-in capital	3,293,840)	3,178,436)	3,075,303)	2,965,231)	2,858,189)	2,712,166)	2,594,896)	2,397,100)	2,217,043)	2,063,311)	1,967,265)	1,835,107)	1,700,498)	1,558,830)	1,449,825)	1,319,961)	1,201,373)	1,051,572)	915,177)	698,724)	657,640)	587,304)
Accumulated other comprehensive income	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Retained earnings (accumulated deficit)	(719,488)	(724,950)	(590,912)	(364,445)	(162,356)	4,518)	354,249)	228,650)	188,363)	103,244)	196,954)	320,419)	370,912)	381,977)	665,514)	594,327)	578,458)	597,531)	612,129)	604,090)	544,706)	497,009)
Stockholders’ equity	2,574,352)	2,453,486)	2,484,391)	2,600,786)	2,695,833)	2,716,684)	2,949,145)	2,625,750)	2,405,406)	2,166,555)	2,164,219)	2,155,526)	2,071,410)	1,940,807)	2,115,339)	1,914,288)	1,779,831)	1,649,103)	1,527,306)	1,302,814)	1,202,346)	1,084,313)
Total liabilities and stockholders’ equity	5,764,446)	5,734,384)	6,153,220)	5,940,401)	5,957,809)	5,705,441)	6,111,951)	5,505,325)	5,159,922)	4,663,797)	4,888,687)	4,520,432)	4,346,968)	3,999,638)	4,380,679)	3,923,954)	3,672,746)	3,432,721)	3,577,340)	2,988,755)	2,792,948)	2,602,699)

The overall balance sheet exhibits a significant expansion in scale from March 2021 through June 2026, with total liabilities and stockholders' equity growing from approximately 2.60 billion USD to 5.76 billion USD. This growth is characterized by a substantial increase in both operational obligations and contributed capital, offset in the later periods by a declining retained earnings balance.

Current Liabilities and Operational Obligations: A consistent upward trajectory is observed in current liabilities, which rose from 1.26 billion USD in March 2021 to a peak of 3.27 billion USD in December 2025. The primary driver of this increase is accounts payable, which climbed from 1.14 billion USD to over 3.00 billion USD during the same period. This suggests a significant increase in the volume of business operations and a corresponding growth in short-term obligations to vendors.
Non-Current Liabilities and Lease Commitments: Non-current liabilities remained relatively stable until 2024, after which a marked increase occurred. Operating lease liabilities, non-current, transitioned from a downward trend between 2021 and 2023 to a sharp increase starting in 2024, rising from 180 million USD in December 2023 to 353 million USD by June 2026. This indicates a strategic expansion of long-term leased assets toward the end of the analyzed period.
Stockholders' Equity and Capital Financing: The equity structure reveals a divergence between contributed capital and retained earnings. Additional paid-in capital demonstrated aggressive and steady growth, increasing from 587 million USD in March 2021 to 3.29 billion USD in June 2026, indicating heavy reliance on external equity financing. Conversely, retained earnings peaked at 665 million USD in December 2022 before entering a steep decline, shifting into an accumulated deficit that reached 719 million USD by June 2026.

The transition from a positive retained earnings balance to a significant accumulated deficit, coupled with the continuous rise in additional paid-in capital, suggests a shift in the company's financial profile. While the total equity base remains positive due to the influx of contributed capital, the operational trend indicates that capital raises have been utilized to offset accumulating losses or to fund aggressive growth that has not yet translated into retained profitability.

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Trade Desk Inc. (NASDAQ:TTD)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data