9to5investing

Stocks·NASDAQ:TTD

The Trade Desk (TTD)

OverviewFinancialsOwnersFilings
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Revenue, last 12 months$2.99B+12% vs. a year before
Free cash flow, last 12 months$863MBringing in cash
Cash and short-term investments$1.49BNo debt reported
Shares outstanding, past year-5.2%470M shares now

My take

No average analyst target in this video.

Every video where I mention TTD

The last 12 months

  1. Oct 30, 2026SCHEDULE 13GAn investor reported a 5%+ stake
  2. Oct 20, 20268-KExecutive or board change; Shareholder vote results
  3. Oct 7, 2026SCHEDULE 13GAn investor reported a 5%+ stake
  4. Sep 15, 20268-KExecutive or board change
  5. Sep 4, 20268-KRestructuring or layoff costs
  6. Aug 24, 2026S-3ASRAutomatic shelf registration: can sell stock or debt later
  7. Aug 6, 202610-QQuarterly report
  8. Aug 6, 20268-KReleased quarterly results
  9. Jul 13, 20268-KExecutive or board change
  10. Jun 9, 20268-KExecutive or board change
  11. Jun 1, 20268-KExecutive or board change
  12. May 29, 20268-KExecutive or board change
  13. May 8, 20268-KExecutive or board change
  14. May 8, 20268-KShareholder vote results

All filings →

Revenue by year
2016: $203M20162017: $308M20172018: $477M20182019: $661M20192020: $836M20202021: $1.20B20212022: $1.58B20222023: $1.95B20232024: $2.44B20242025: $2.90B2025$2.90B
Show the numbers
Revenue by year
2016$203M
2017$308M
2018$477M
2019$661M
2020$836M
2021$1.20B
2022$1.58B
2023$1.95B
2024$2.44B
2025$2.90B
Revenue by quarter calendar quarter the period ended in
Q3 23: $493MQ4 23: $606MQ4 23Q1 24: $491MQ2 24: $585MQ2 24Q3 24: $628MQ4 24: $741MQ4 24Q1 25: $616MQ2 25: $694MQ2 25Q3 25: $739MQ4 25: $847MQ4 25Q1 26: $689MQ2 26: $715MQ2 26$715M
Show the numbers
Revenue by quarter
Q3 23$493M
Q4 23$606M
Q1 24$491M
Q2 24$585M
Q3 24$628M
Q4 24$741M
Q1 25$616M
Q2 25$694M
Q3 25$739M
Q4 25$847M
Q1 26$689M
Q2 26$715M
Operating income (loss) by year profit from the business before interest and taxes
2016: $57.5M20162017: $69.4M20172018: $107M20182019: $112M20192020: $144M20202021: $125M20212022: $114M20222023: $200M20232024: $427M20242025: $589M2025$589M
Show the numbers
Operating income (loss) by year
2016$57.5M
2017$69.4M
2018$107M
2019$112M
2020$144M
2021$125M
2022$114M
2023$200M
2024$427M
2025$589M
Free cash flow by year cash from operations minus spending on buildings and equipment
2016: $68.1M20162017: $21.1M20172018: $66.8M20182019: $24.5M20192020: $331M20202021: $324M20212022: $465M20222023: $552M20232024: $641M20242025: $796M2025$796M
Show the numbers
Free cash flow by year
2016$68.1M
2017$21.1M
2018$66.8M
2019$24.5M
2020$331M
2021$324M
2022$465M
2023$552M
2024$641M
2025$796M
Cash vs. debt

Cash and short-term investmentsDebt

2016 · Cash and short-term investments: $133M20162017 · Cash and short-term investments: $156M20172018 · Cash and short-term investments: $207M20182019 · Cash and short-term investments: $255M20192020 · Cash and short-term investments: $624M20202021 · Cash and short-term investments: $959M20212022 · Cash and short-term investments: $1.45B20222023 · Cash and short-term investments: $1.38B20232024 · Cash and short-term investments: $1.92B20242025 · Cash and short-term investments: $1.30B2025
Show the numbers
Cash and short-term investmentsDebt
2016$133Mn/a
2017$156Mn/a
2018$207Mn/a
2019$255Mn/a
2020$624Mn/a
2021$959Mn/a
2022$1.45Bn/a
2023$1.38Bn/a
2024$1.92Bn/a
2025$1.30Bn/a
Stock pay vs. buybacks

Stock-based pay to employeesSpent buying back shares

2020 · Stock-based pay to employees: $112M2020 · Spent buying back shares: $020202021 · Stock-based pay to employees: $337M2021 · Spent buying back shares: $020212022 · Stock-based pay to employees: $499M2022 · Spent buying back shares: $020222023 · Stock-based pay to employees: $492M2023 · Spent buying back shares: $647M20232024 · Stock-based pay to employees: $495M2024 · Spent buying back shares: $235M20242025 · Stock-based pay to employees: $491M2025 · Spent buying back shares: $1.38B2025
Show the numbers
Stock-based pay to employeesSpent buying back shares
2020$112M$0
2021$337M$0
2022$499M$0
2023$492M$647M
2024$495M$235M
2025$491M$1.38B

If buybacks are smaller than stock pay, the buyback isn't shrinking the share count; it's soaking up shares handed to employees.

Compare TTD with other stocks →

From the company's own SEC filings via SEC EDGAR, latest period ended Jun 30, 2026. Numbers can be restated later. Not investment advice.

Dilution

Shares outstanding adjusted for the
Jun 2021: 497MSep 2021: 499MSep 2021Mar 2022: 484MJun 2022: 486MJun 2022Sep 2022: 500MMar 2023: 500MMar 2023Jun 2023: 499MSep 2023: 502MSep 2023Mar 2024: 498MJun 2024: 500MJun 2024Sep 2024: 503MMar 2025: 503MMar 2025Jun 2025: 496MSep 2025: 493MSep 2025Mar 2026: 477MJun 2026: 470MJun 2026470M
Show the numbers
Shares outstanding
Jun 2021497M
Sep 2021499M
Mar 2022484M
Jun 2022486M
Sep 2022500M
Mar 2023500M
Jun 2023499M
Sep 2023502M
Mar 2024498M
Jun 2024500M
Sep 2024503M
Mar 2025503M
Jun 2025496M
Sep 2025493M
Mar 2026477M
Jun 2026470M

The share count is down -5.2% over the past year. What dilution means.

Insider trades

Insider buys, 12 months4$148M
Insider sales, 12 months3$5.79M

Bought or sold on the open market

DateWhoWhatSharesValueFiling
May 28, 2026Samantha Jacobson
Director		Sold on the market53.7K$1.13MForm 4
Mar 5, 2026Kathryn E Falberg
Director		Sold on the market
2 trades that day		153K$4.66MForm 4
Mar 4, 2026Jeffrey Terry Green
President and CEO, Director, 10% owner		Bought on the market2.3M$58MForm 4
Mar 3, 2026Jeffrey Terry Green
President and CEO, Director, 10% owner		Bought on the market1.7M$42.1MForm 4
Mar 2, 2026Jeffrey Terry Green
President and CEO, Director, 10% owner		Bought on the market
2 trades that day		2M$48MForm 4
Everything else: grants, option exercises, tax withholding (40)
DateWhoWhatSharesValueFiling
Sep 14, 2026Tahnil R. Davis
Chief Accounting Officer & EVP		Grant or award217Kn/aForm 4
Sep 14, 2026Jay R Grant
Chief Legal Officer		Grant or award398Kn/aForm 4
Sep 14, 2026Vivek Kundra
Chief Operating Officer		Grant or award724Kn/aForm 4
Sep 14, 2026Nathan Olmstead
Chief Financial Officer		Grant or award398Kn/aForm 4
Aug 15, 2026Vivek Kundra
Chief Operating Officer		Shares withheld for taxes
2 trades that day		7K$99.4KForm 4
Aug 15, 2026Tahnil R. Davis
Chief Accounting Officer & EVP		Shares withheld for taxes
4 trades that day		9K$127KForm 4
Aug 15, 2026Jay R Grant
Chief Legal Officer		Shares withheld for taxes
4 trades that day		13.4K$189KForm 4
Aug 15, 2026Jeffrey Terry Green
President and CEO, Director, 10% owner		Gift
2 trades that day		106Kn/aForm 4
Jul 9, 2026Nathan Olmstead
Chief Financial Officer		Grant or award246Kn/aForm 4
Jun 11, 2026David Alan Haddad
Director		Grant or award
2 trades that day		25Kn/aForm 4
May 24, 2026Samantha Jacobson
Director		Grant or award12.5Kn/aForm 4
May 18, 2026Samantha Jacobson
Chief Strategy Officer, Director		Returned to the company
4 trades that day		258Kn/aForm 4
May 15, 2026Vivek Kundra
Chief Operating Officer		Shares withheld for taxes
2 trades that day		9.3K$198KForm 4
May 15, 2026Samantha Jacobson
Chief Strategy Officer, Director		Shares withheld for taxes
5 trades that day		6.7K$141KForm 4
May 15, 2026Jay R Grant
Chief Legal Officer		Shares withheld for taxes
5 trades that day		12.6K$266KForm 4
May 15, 2026Tahnil R. Davis
CAO and Interim CFO		Shares withheld for taxes
5 trades that day		6.6K$139KForm 4
May 15, 2026Jeffrey Terry Green
President and CEO, Director, 10% owner		Gift
2 trades that day		106Kn/aForm 4
May 4, 2026Andrew Vollero
Director		Grant or award12.2Kn/aForm 4
May 4, 2026Omar Tawakol
Director		Grant or award12.2Kn/aForm 4
May 4, 2026Andrea Lee Cunningham
Director		Grant or award
4 trades that day		7.9K$42.5KForm 4
Apr 3, 2026Andrew Vollero
Director		Grant or award
2 trades that day		12.3Kn/aForm 4
Apr 3, 2026Gokul Rajaram
Director		Returned to the company1.2Kn/aForm 4
Apr 3, 2026Andrea Lee Cunningham
Director		Grant or award31$793Form 4
Apr 1, 2026Andrea Lee Cunningham
Director		Grant or award17$438Form 4
Mar 23, 2026Kathryn E Falberg
Director		Returned to the company
4 trades that day		1.9K$42.6KForm 4
Mar 3, 2026Samantha Jacobson
Chief Strategy Officer, Director		Grant or award167Kn/aForm 4
Mar 3, 2026Vivek Kundra
Chief Operating Officer		Grant or award167Kn/aForm 4
Mar 3, 2026Jay R Grant
Chief Legal Officer		Grant or award167Kn/aForm 4
Mar 3, 2026Tahnil R. Davis
CAO and Interim CFO		Grant or award167Kn/aForm 4
Mar 3, 2026Jeffrey Terry Green
President and CEO, Director, 10% owner		Grant or award398Kn/aForm 4
Feb 15, 2026Samantha Jacobson
Chief Strategy Officer, Director		Shares withheld for taxes
5 trades that day		4K$103KForm 4
Feb 15, 2026Jay R Grant
Chief Legal Officer		Shares withheld for taxes
4 trades that day		7K$181KForm 4
Feb 15, 2026Tahnil R. Davis
CAO and Interim CFO		Shares withheld for taxes
5 trades that day		3.5K$90.3KForm 4
Feb 15, 2026Jeffrey Terry Green
President and CEO, Director, 10% owner		Gift
2 trades that day		56.1Kn/aForm 4
Dec 3, 2025Jeffrey Terry Green
President and CEO, Director, 10% owner		Converted167Kn/aForm 4
Dec 3, 2025Jeffrey Terry Green
President and CEO, Director, 10% owner		Gift
2 trades that day		500Kn/aForm 4
Nov 15, 2025Vivek Kundra
Chief Operating Officer		Grant or award322$11.5KForm 4
Nov 15, 2025Samantha Jacobson
Chief Strategy Officer, Director		Shares withheld for taxes
5 trades that day		5.8K$244KForm 4
Nov 15, 2025Jay R Grant
Chief Legal Officer		Shares withheld for taxes
4 trades that day		9.3K$392KForm 4
Nov 15, 2025Jeffrey Terry Green
President and CEO, Director, 10% owner		Gift
2 trades that day		56.1Kn/aForm 4

An insider buying with their own money is a stronger signal than a sale: people sell for taxes, houses and diversification. "Planned" sales were scheduled months ahead under a 10b5-1 plan. Source: SEC Form 4.

Famous investors who own it

InvestorQuarterSharesValueShare of fundChange
Philippe Laffont (Coatue Management)Q2 261.4M$25.1M<0.1%No change

From each fund's latest 13F, filed up to 45 days after the quarter ends, so it's old news by design. 13Fs only show US stock owned on the last day of the quarter: no short sales, and "added" or "trimmed" compares two snapshots, not actual trades. See what these funds bought and sold.

Failed trades

Failed trades (fails to deliver) shares that weren't delivered on time when a trade settled
May 11: 400May 12: 300May 18: 347KMay 18May 19: 255May 22: 290May 26: 874Jun 1: 93.5KJun 1Jun 2: 15.2KJun 3: 935Jun 4: 16.8KJun 5: 45Jun 5Jun 12: 446KJun 15: 100Jun 22: 123KJun 29: 831Jun 29Jul 2: 400Jul 17: 247Jul 20: 2.4KJul 24: 6.3KJul 24Jul 31: 140Aug 10: 628KAug 12: 226KAug 14: 100Aug 14Aug 17: 98KAug 25: 1.9KAug 28: 5.6KAug 31: 300Aug 31Sep 15: 15.5KSep 16: 20.8KSep 18: 420Sep 25: 699Sep 25Sep 29: 133Oct 2: 100Oct 7: 1.9KOct 9: 416Oct 9416
Show the numbers
Failed trades (fails to deliver)
May 11400
May 12300
May 18347K
May 19255
May 22290
May 26874
Jun 193.5K
Jun 215.2K
Jun 3935
Jun 416.8K
Jun 545
Jun 12446K
Jun 15100
Jun 22123K
Jun 29831
Jul 2400
Jul 17247
Jul 202.4K
Jul 246.3K
Jul 31140
Aug 10628K
Aug 12226K
Aug 14100
Aug 1798K
Aug 251.9K
Aug 285.6K
Aug 31300
Sep 1515.5K
Sep 1620.8K
Sep 18420
Sep 25699
Sep 29133
Oct 2100
Oct 71.9K
Oct 9416

From the SEC's fails-to-deliver data, which runs two to four weeks behind. A spike can mean heavy short selling or just back-office delays; it isn't proof of anything on its own. Short interest isn't shown: FINRA's terms don't allow republishing it.

Share offerings

Selling new shares dilutes current owners. A "shelf" is permission to sell later; a 424B5 usually means a sale is actually happening.

What they told the SEC, in plain English

Every 8-K (the report a company files when something big happens) in the last two years. Red ones are worth a closer look: auditor changes, restatements, late reports, listing problems.

What changed in the latest annual report

Comparing the risk factors in the 10-K filed Feb 27, 2026 with the one filed Feb 21, 2025: 1 new and 1 removed, out of 47.

New this year

  • Evolving industry standards regarding impression counts and related disputes and customer collections could impact our business and reputation.
Dropped from last year (1)
  • The effects of health epidemics have had, and could in the future have, an adverse impact on our business, financial condition and results of operations.

Matched by each risk's headline, so a reworded risk can show up as new. This year's report · last year's.

Search inside The Trade Desk's filings

Opens the SEC's own full-text search in a new tab, limited to TTD. Every TTD filing on EDGAR.