10-Q Filing

Trade Desk, Inc. CIK: 1671933 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-023372`
Period End Date	20170930
Filing Date	20171113
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	ttd-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 74 Cash Flow Statement 70

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$132.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$123.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$133.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.05M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$470.45M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$377.24M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.71M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.76M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$516.40M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$615.96M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$14.78M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$17.40M	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, 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`	$7.50M	USD	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$4.64M	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$642.63M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
TOTAL ASSETS	`Assets`	$537.60M	USD	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`	$370.53M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$321.16M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$22.97M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$25.41M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$395.94M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$344.14M	USD	Point-in-time
Debt, net	`LongTermLineOfCredit`	$27.00M	USD	Point-in-time
Debt, net	`LongTermLineOfCredit`	$25.85M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$3.23M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$4.43M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$427.37M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$373.22M	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 September 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 September 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 September 30, 2017 and December 31, 2016; 29,472 and 10,071 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively; 95,000 Class B shares authorized as of September 30, 2017 and December 31, 2016; 11,552 and 29,060 shares issued and outstanding as of September 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 September 30, 2017 and December 31, 2016; 29,472 and 10,071 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively; 95,000 Class B shares authorized as of September 30, 2017 and December 31, 2016; 11,552 and 29,060 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$179.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$196.09M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$19.17M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-14.82M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$215.26M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$164.38M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$537.60M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$642.63M	USD	Point-in-time

Income Statement 74 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueServicesNet`	$205.57M	USD	3 Qtrs
Revenue	`SalesRevenueServicesNet`	$52.96M	USD	1 Quarter
Revenue	`SalesRevenueServicesNet`	$130.52M	USD	3 Qtrs
Revenue	`SalesRevenueServicesNet`	$79.41M	USD	1 Quarter
Platform operations	`CostOfServices`	$45.10M	USD	3 Qtrs
Platform operations	`CostOfServices`	$17.40M	USD	1 Quarter
Platform operations	`CostOfServices`	$10.42M	USD	1 Quarter
Platform operations	`CostOfServices`	$26.62M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$16.20M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$42.84M	USD	3 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$11.60M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$31.28M	USD	3 Qtrs
Technology and development	`ResearchAndDevelopmentExpense`	$13.18M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$17.69M	USD	3 Qtrs
Technology and development	`ResearchAndDevelopmentExpense`	$7.29M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$35.78M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$8.59M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$41.81M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$14.23M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$21.44M	USD	3 Qtrs
Total operating expenses	`CostsAndExpenses`	$61.01M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$97.03M	USD	3 Qtrs
Total operating expenses	`CostsAndExpenses`	$165.53M	USD	3 Qtrs
Total operating expenses	`CostsAndExpenses`	$37.91M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$33.48M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$40.04M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$18.41M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$15.05M	USD	1 Quarter
Interest expense	`InterestExpense`	$513.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.35M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.29M	USD	3 Qtrs
Interest expense	`InterestExpense`	$2.66M	USD	3 Qtrs
Change in fair value of preferred stock warrant liabilities	`FairValueAdjustmentOfWarrants`	$4.65M	USD	1 Quarter
Change in fair value of preferred stock warrant liabilities	`FairValueAdjustmentOfWarrants`	$9.46M	USD	3 Qtrs
Foreign currency exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-87.00K	USD	1 Quarter
Foreign currency exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-3.16M	USD	3 Qtrs
Foreign currency exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-489.00K	USD	3 Qtrs
Foreign currency exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.84M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-4.45M	USD	3 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-12.61M	USD	3 Qtrs
Total other expense, net	`NonoperatingIncomeExpense`	$-2.35M	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-6.09M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$35.59M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$16.05M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$20.87M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.96M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.83M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.32M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.60M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$10.67M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.64M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.20M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$33.99M	USD	3 Qtrs
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-37.01M	USD	3 Qtrs
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$972.00K	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$33.99M	USD	3 Qtrs
Net income (loss) attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$10.23M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-3.23	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.25	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.85	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.23	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-3.23	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.77	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	11.46M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	12.63M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.70M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	39.98M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.46M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	44.24M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.06M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	43.92M	shares	3 Qtrs

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.64M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.20M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$33.99M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.16M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.61M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$12.41M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.05M	USD	3 Qtrs
Change in fair value of preferred stock warrant liabilities	`FairValueAdjustmentOfWarrants`	$4.65M	USD	1 Quarter
Change in fair value of preferred stock warrant liabilities	`FairValueAdjustmentOfWarrants`	$9.46M	USD	3 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$384.00K	USD	3 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$3.94M	USD	3 Qtrs
Other	`OtherNoncashIncomeExpense`	$-426.00K	USD	3 Qtrs
Other	`OtherNoncashIncomeExpense`	$1.31M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$82.32M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$95.22M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.42M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$7.30M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$94.35M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$51.85M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$5.25M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$3.51M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$7.03M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$38.99M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.52M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.36M	USD	3 Qtrs
Capitalized software development costs	`PaymentsToDevelopSoftware`	$2.48M	USD	3 Qtrs
Capitalized software development costs	`PaymentsToDevelopSoftware`	$1.80M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-5.31M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-10.84M	USD	3 Qtrs
Proceeds from line of credit	`ProceedsFromLongTermLinesOfCredit`	$75.85M	USD	3 Qtrs
Repayment on line of credit	`RepaymentsOfLongTermLinesOfCredit`	$40.00M	USD	3 Qtrs
Repayment of term debt	`RepaymentsOfSecuredDebt`	$30.00M	USD	3 Qtrs
Payment of debt financing costs	`PaymentsOfDebtIssuanceCosts`	$976.00K	USD	3 Qtrs
Payment of debt financing costs	`PaymentsOfDebtIssuanceCosts`	$153.00K	USD	3 Qtrs
Payment of financing obligations	`RepaymentsOfLongtermLoansFromVendors`	$326.00K	USD	3 Qtrs
Payment of financing obligations	`RepaymentsOfLongtermLoansFromVendors`	$677.00K	USD	3 Qtrs
Proceeds from issuance of Series C convertible preferred stock	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$60.00M	USD	3 Qtrs
Repurchase of preferred stock and common stock	`PaymentsForRepurchaseOfEquity`	$54.00M	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.77M	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$433.00K	USD	3 Qtrs
Proceeds from employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$2.29M	USD	3 Qtrs
Taxes paid related to net settlement of restricted stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$29.00K	USD	3 Qtrs
Payment of stock repurchase costs	`PaymentsOfStockRepurchaseCosts`	$155.00K	USD	3 Qtrs
Payment of Series C convertible preferred stock offering costs	`TemporaryEquityPaymentsOfStockIssuanceCostsPreferredStock`	$129.00K	USD	3 Qtrs
Proceeds from the issuance of Class A common stock in initial public offering, net of underwriting commissions	`ProceedsFromIssuanceInitialPublicOffering`	$78.12M	USD	3 Qtrs
Payment of offering costsinitial public offering	`PaymentsOfStockIssuanceCosts`	$2.57M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$86.25M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.20M	USD	3 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$119.92M	USD	3 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-602.00K	USD	3 Qtrs
Cash and cash equivalentsBeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$132.80M	USD	Point-in-time
Cash and cash equivalentsBeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$123.97M	USD	Point-in-time
Cash and cash equivalentsBeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$133.40M	USD	Point-in-time
Cash and cash equivalentsBeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.05M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashAndCashEquivalentsAtCarryingValue`	$132.80M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashAndCashEquivalentsAtCarryingValue`	$123.97M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashAndCashEquivalentsAtCarryingValue`	$133.40M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashAndCashEquivalentsAtCarryingValue`	$4.05M	USD	Point-in-time
Capitalized assets financed by accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$1.80M	USD	3 Qtrs
Capitalized assets financed by accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$945.00K	USD	3 Qtrs
Tenant improvements paid by lessor	`PaymentsForTenantImprovements`	$640.00K	USD	3 Qtrs
Stock-based compensation included in capitalized software development costs	`EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount`	$9.00K	USD	3 Qtrs
Stock-based compensation included in capitalized software development costs	`EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount`	$453.00K	USD	3 Qtrs
Debt financing costs included in debt, net	`DebtIssuanceCostsIncludedInDebtNet`	$1.15M	USD	3 Qtrs
Conversion of convertible preferred stock to Class B common stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$83.24M	USD	3 Qtrs
Conversion of warrant for convertible preferred stock to a warrant for Class B common stock and net exercise of warrant to purchase Class B common stock	`AdjustmentToAdditionalPaidInCapitalForConversionAndNetExerciseOfWarrants`	$12.60M	USD	3 Qtrs
Deferred initial public offering costs included in accounts payable	`StockIssuanceCostsAccountsPayable`	$1.76M	USD	3 Qtrs
Net exercise of warrants to purchase Series Seed convertible preferred stock	`ReclassificationOfWarrantLiabilityToTemporaryEquityOnNetExerciseOfWarrants`	$3.79M	USD	3 Qtrs
Asset retirement obligation	`AssetRetirementObligationPeriodIncreaseDecrease`	$354.00K	USD	3 Qtrs

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