10-Q Filing

Trade Desk, Inc. CIK: 1671933 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001193125-17-254735`
Period End Date	20170630
Filing Date	20170811
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	ttd-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 74 Cash Flow Statement 67

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$133.40M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$115.86M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$37.61M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.05M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$382.21M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$377.24M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.76M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$17.25M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$515.32M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$516.40M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$14.78M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$17.14M	USD	Point-in-time
Deferred taxes, net	`DeferredIncomeTaxAssetsNet`	$1.78M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Deferred taxes, net	`DeferredIncomeTaxAssetsNet`	$1.78M	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$4.64M	USD	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$7.02M	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$537.60M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$541.26M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$321.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$290.40M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$22.97M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$21.11M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$311.51M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$344.14M	USD	Point-in-time
Debt, net	`LongTermLineOfCredit`	$25.85M	USD	Point-in-time
Debt, net	`LongTermLineOfCredit`	$27.00M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$4.52M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$3.23M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$373.22M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$343.03M	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $0.000001; 100,000 shares authorized, zero shares issued and outstanding as of June 30, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.000001; 100,000 shares authorized, zero shares issued and outstanding as of June 30, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.000001; 1,000,000 Class A shares authorized as of June 30, 2017 and December 31, 2016; 28,363 and 10,071 shares issued and outstanding as of June 30, 2017 and December 31, 2016, respectively; 95,000 Class B shares authorized as of June 30, 2017 and December 31, 2016; 12,226 and 29,060 shares issued and outstanding as of June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	-	USD	Point-in-time
Common stock, par value $0.000001; 1,000,000 Class A shares authorized as of June 30, 2017 and December 31, 2016; 28,363 and 10,071 shares issued and outstanding as of June 30, 2017 and December 31, 2016, respectively; 95,000 Class B shares authorized as of June 30, 2017 and December 31, 2016; 12,226 and 29,060 shares issued and outstanding as of June 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$189.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$179.20M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$8.94M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-14.82M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$164.38M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$198.23M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$541.26M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$537.60M	USD	Point-in-time

Income Statement 74 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueServicesNet`	$126.16M	USD	2 Qtrs
Revenue	`SalesRevenueServicesNet`	$77.56M	USD	2 Qtrs
Revenue	`SalesRevenueServicesNet`	$47.18M	USD	1 Quarter
Revenue	`SalesRevenueServicesNet`	$72.80M	USD	1 Quarter
Platform operations	`CostOfServices`	$15.15M	USD	1 Quarter
Platform operations	`CostOfServices`	$27.70M	USD	2 Qtrs
Platform operations	`CostOfServices`	$8.68M	USD	1 Quarter
Platform operations	`CostOfServices`	$16.20M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$14.17M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$19.68M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$11.25M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$26.64M	USD	2 Qtrs
Technology and development	`ResearchAndDevelopmentExpense`	$12.13M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$10.40M	USD	2 Qtrs
Technology and development	`ResearchAndDevelopmentExpense`	$5.76M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$22.60M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$27.59M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$12.85M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$6.45M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.66M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$59.13M	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$104.53M	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$32.15M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$53.11M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$21.63M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$15.03M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$18.43M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$19.69M	USD	1 Quarter
Interest expense	`InterestExpense`	$482.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$413.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$777.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.32M	USD	2 Qtrs
Change in fair value of preferred stock warrant liabilities	`FairValueAdjustmentOfWarrants`	$4.80M	USD	2 Qtrs
Change in fair value of preferred stock warrant liabilities	`FairValueAdjustmentOfWarrants`	$422.00K	USD	1 Quarter
Foreign currency exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-402.00K	USD	2 Qtrs
Foreign currency exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-356.00K	USD	1 Quarter
Foreign currency exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-890.00K	USD	1 Quarter
Foreign currency exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.32M	USD	2 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-1.30M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-6.52M	USD	2 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-1.26M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-2.10M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$13.77M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$19.54M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$18.39M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.91M	USD	2 Qtrs
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$5.35M	USD	2 Qtrs
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$-4.22M	USD	2 Qtrs
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$6.18M	USD	1 Quarter
Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$-458.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.85M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.56M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$23.76M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.60M	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$23.76M	USD	2 Qtrs
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$18.85M	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-40.65M	USD	2 Qtrs
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.39M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.47	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-3.74	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.22	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.60	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-3.74	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.43	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.54	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.15	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	10.89M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	39.61M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.05M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	10.87M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.87M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	43.75M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.54M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	43.94M	shares	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$18.85M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.56M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$23.76M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.19M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.65M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$6.51M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$392.00K	USD	2 Qtrs
Change in fair value of preferred stock warrant liabilities	`FairValueAdjustmentOfWarrants`	$4.80M	USD	2 Qtrs
Change in fair value of preferred stock warrant liabilities	`FairValueAdjustmentOfWarrants`	$422.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$3.46M	USD	2 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$296.00K	USD	2 Qtrs
Other	`OtherNoncashIncomeExpense`	$968.00K	USD	2 Qtrs
Other	`OtherNoncashIncomeExpense`	$-315.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$45.05M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.85M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.11M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$11.64M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-28.53M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$55.38M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-900.00K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$410.00K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-11.97M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$22.65M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.04M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.71M	USD	2 Qtrs
Capitalized software development costs	`PaymentsToDevelopSoftware`	$1.81M	USD	2 Qtrs
Capitalized software development costs	`PaymentsToDevelopSoftware`	$1.09M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-8.52M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-3.13M	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLongTermLinesOfCredit`	$60.85M	USD	2 Qtrs
Repayment on line of credit	`RepaymentsOfLongTermLinesOfCredit`	$20.00M	USD	2 Qtrs
Repayment of term debt	`RepaymentsOfSecuredDebt`	$30.00M	USD	2 Qtrs
Payment of debt financing costs	`PaymentsOfDebtIssuanceCosts`	$976.00K	USD	2 Qtrs
Payment of debt financing costs	`PaymentsOfDebtIssuanceCosts`	$120.00K	USD	2 Qtrs
Payment of financing obligations	`RepaymentsOfLongtermLoansFromVendors`	$321.00K	USD	2 Qtrs
Payment of financing obligations	`RepaymentsOfLongtermLoansFromVendors`	$135.00K	USD	2 Qtrs
Proceeds from issuance of Series C convertible preferred stock	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$60.00M	USD	2 Qtrs
Repurchase of preferred stock and common stock	`PaymentsForRepurchaseOfEquity`	$54.00M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.12M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$185.00K	USD	2 Qtrs
Proceeds from employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$2.29M	USD	2 Qtrs
Taxes paid related to net settlement of restricted stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$29.00K	USD	2 Qtrs
Payment of stock repurchase costs	`PaymentsOfStockRepurchaseCosts`	$155.00K	USD	2 Qtrs
Payment of Series C convertible preferred stock offering costs	`TemporaryEquityPaymentsOfStockIssuanceCostsPreferredStock`	$129.00K	USD	2 Qtrs
Payment of offering costs-initial public offering	`PaymentsOfStockIssuanceCosts`	$1.59M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$14.04M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.95M	USD	2 Qtrs
Increase (decrease) in cash	`NetCashProvidedByUsedInContinuingOperations`	$-17.54M	USD	2 Qtrs
Increase (decrease) in cash	`NetCashProvidedByUsedInContinuingOperations`	$33.56M	USD	2 Qtrs
Cash-Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$133.40M	USD	Point-in-time
Cash-Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$115.86M	USD	Point-in-time
Cash-Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$37.61M	USD	Point-in-time
Cash-Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.05M	USD	Point-in-time
Cash-End of period	`CashAndCashEquivalentsAtCarryingValue`	$133.40M	USD	Point-in-time
Cash-End of period	`CashAndCashEquivalentsAtCarryingValue`	$115.86M	USD	Point-in-time
Cash-End of period	`CashAndCashEquivalentsAtCarryingValue`	$37.61M	USD	Point-in-time
Cash-End of period	`CashAndCashEquivalentsAtCarryingValue`	$4.05M	USD	Point-in-time
Capitalized assets financed by accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$928.00K	USD	2 Qtrs
Capitalized assets financed by accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$179.00K	USD	2 Qtrs
Tenant improvements paid by lessor	`PaymentsForTenantImprovements`	$640.00K	USD	2 Qtrs
Stock-based compensation included in capitalized development costs	`EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount`	$189.00K	USD	2 Qtrs
Stock-based compensation included in capitalized development costs	`EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount`	$4.00K	USD	2 Qtrs
Debt financing costs included in debt, net	`DebtIssuanceCostsIncludedInDebtNet`	$1.15M	USD	2 Qtrs
Debt financing costs included in accounts payable	`DebtIssuanceCostsAccountsPayable`	$35.00K	USD	2 Qtrs
Deferred initial public offering costs included in accounts payable	`StockIssuanceCostsAccountsPayable`	$471.00K	USD	2 Qtrs
Net exercise of warrants to purchase Series Seed convertible preferred stock	`ReclassificationOfWarrantLiabilityToTemporaryEquityOnNetExerciseOfWarrants`	$3.79M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.