10-Q Filing

Trade Desk, Inc. CIK: 1671933 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-023075`
Period End Date	20200331
Filing Date	20200508
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	ttd-10q_20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 35 Cash Flow Statement 63 Stockholders Equity 18 Comprehensive Income 6

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$143.84M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$325.21M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$207.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$130.88M	USD	Point-in-time
Short-term investments, net of allowance for credit losses of $275 and $0 as of March 31, 2020 and December 31, 2019, respectively	`ShortTermInvestments`	$120.62M	USD	Point-in-time
Short-term investments, net of allowance for credit losses of $275 and $0 as of March 31, 2020 and December 31, 2019, respectively	`ShortTermInvestments`	$124.11M	USD	Point-in-time
Accounts receivable, net of allowance for credit losses of $5,776 and $3,920 as of March 31, 2020 and December 31, 2019, respectively	`AccountsReceivableNetCurrent`	$947.97M	USD	Point-in-time
Accounts receivable, net of allowance for credit losses of $5,776 and $3,920 as of March 31, 2020 and December 31, 2019, respectively	`AccountsReceivableNetCurrent`	$1.17B	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$48.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$27.86M	USD	Point-in-time
Short-term investments, allowance for credit losses	`DebtSecuritiesAvailableForSaleAllowanceForCreditLossCurrent`	$275.00K	USD	Point-in-time
Short-term investments, allowance for credit losses	`DebtSecuritiesAvailableForSaleAllowanceForCreditLossCurrent`	-	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$1.44B	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$1.45B	USD	Point-in-time
Accounts receivable, allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.78M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$64.01M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$78.88M	USD	Point-in-time
Accounts receivable, allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.92M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$173.45M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$200.24M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$18.95M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$18.95M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$27.32M	USD	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$23.13M	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$1.73B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.77B	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`	$663.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$868.62M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$47.18M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$48.44M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$14.58M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$22.53M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$734.37M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$930.37M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$174.87M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$204.69M	USD	Point-in-time
Debt, net	`LongTermLineOfCredit`	$143.00M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$11.00M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$11.11M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.09B	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.12B	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 March 31, 2020 and December 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.000001; 100,000 shares authorized, zero shares issued and outstanding as of March 31, 2020 and December 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.000001 Class A, 1,000,000 shares authorized; 40,865 and 40,305 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively Class B, 95,000 shares authorized; 5,170 and 5,171 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	-	USD	Point-in-time
Common stock, par value $0.000001 Class A, 1,000,000 shares authorized; 40,865 and 40,305 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively Class B, 95,000 shares authorized; 5,170 and 5,171 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$417.77M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$380.08M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$158.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$256.11M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$232.44M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$394.57M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$429.40M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$612.52M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$674.03M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.73B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$1.77B	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$160.66M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$120.99M	USD	1 Quarter
Platform operations	`CostOfGoodsAndServicesSold`	$33.65M	USD	1 Quarter
Platform operations	`CostOfGoodsAndServicesSold`	$40.21M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$22.74M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$34.29M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$36.79M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$25.31M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$33.62M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$38.60M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$115.32M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$149.89M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$10.77M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$5.67M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$997.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$1.09M	USD	1 Quarter
Foreign currency exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.33M	USD	1 Quarter
Foreign currency exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.23M	USD	1 Quarter
Credit loss expense on available-for-sale securities	`DebtSecuritiesAvailableForSaleChangeInPresentValueExpenseReversal`	$275.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-417.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-333.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.34M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.35M	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-13.71M	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-4.81M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.06M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.15M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.23	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.53	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.50	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.21	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	45.50M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	43.91M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.31M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	47.31M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$10.15M	USD	1 Quarter
Net income	`ProfitLoss`	$24.06M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.48M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.46M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$22.96M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$15.87M	USD	1 Quarter
Allowance for credit losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$224.00K	USD	1 Quarter
Allowance for credit losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$1.31M	USD	1 Quarter
Investment credit loss	`AvailableForSaleSecuritiesInvestmentCreditLoss`	$275.00K	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	$7.40M	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	$4.42M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-379.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-3.21M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-127.23M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-210.55M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$15.79M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.58M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-138.89M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-205.97M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$892.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-4.49M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-3.07M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-2.67M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.71M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$52.71M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$35.70M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$73.95M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$39.18M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.31M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.08M	USD	1 Quarter
Capitalized software development costs	`PaymentsToDevelopSoftware`	$1.42M	USD	1 Quarter
Capitalized software development costs	`PaymentsToDevelopSoftware`	$965.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-81.45M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.80M	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$143.00M	USD	Point-in-time
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$143.00M	USD	1 Quarter
Payment of debt financing costs	`PaymentsOfDebtIssuanceCosts`	$6.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$19.32M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.50M	USD	1 Quarter
Taxes paid related to net settlement of restricted stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.15M	USD	1 Quarter
Taxes paid related to net settlement of restricted stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.89M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.35M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$157.43M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-63.39M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$194.34M	USD	1 Quarter
Cash and cash equivalentsBeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$143.84M	USD	Point-in-time
Cash and cash equivalentsBeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$325.21M	USD	Point-in-time
Cash and cash equivalentsBeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$207.23M	USD	Point-in-time
Cash and cash equivalentsBeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$130.88M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashAndCashEquivalentsAtCarryingValue`	$143.84M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashAndCashEquivalentsAtCarryingValue`	$325.21M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashAndCashEquivalentsAtCarryingValue`	$207.23M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashAndCashEquivalentsAtCarryingValue`	$130.88M	USD	Point-in-time
Capitalized assets financed by accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$10.20M	USD	1 Quarter
Capitalized assets financed by accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$1.49M	USD	1 Quarter
Asset retirement obligation	`AssetRetirementObligationPeriodIncreaseDecrease`	$126.00K	USD	1 Quarter
Asset retirement obligation	`AssetRetirementObligationPeriodIncreaseDecrease`	$65.00K	USD	1 Quarter
Stock-based compensation included in capitalized software development costs	`EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount`	$298.00K	USD	1 Quarter
Stock-based compensation included in capitalized software development costs	`EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount`	$455.00K	USD	1 Quarter
Cash paid for amounts included in the measurement of lease liabilities included in operating cash flows	`OperatingLeasePayments`	$4.90M	USD	1 Quarter
Cash paid for amounts included in the measurement of lease liabilities included in operating cash flows	`OperatingLeasePayments`	$3.79M	USD	1 Quarter
Right-of-use assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$35.02M	USD	1 Quarter
Right-of-use assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$34.16M	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of period	`StockholdersEquity`	$394.57M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$429.40M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$612.52M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$674.03M	USD	Point-in-time
Impact upon adoption of new accounting standard (Note 2)	`CumulativeEffectOnRetainedEarningsNetOfTax1`	$-388.00K	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$9.50M	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$19.32M	USD	1 Quarter
Restricted stock, net of forfeitures and shares withheld for taxes	`StockIssuedDuringPeriodValueRestrictedStockNetOfForfeituresAndSharesWithheldForTaxes`	$-1.15M	USD	1 Quarter
Restricted stock, net of forfeitures and shares withheld for taxes	`StockIssuedDuringPeriodValueRestrictedStockNetOfForfeituresAndSharesWithheldForTaxes`	$-4.89M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$16.32M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$23.26M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$158.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.06M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.15M	USD	1 Quarter
Balance at end of period	`StockholdersEquity`	$394.57M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$429.40M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$612.52M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$674.03M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Change in unrealized gain on available-for-sale investments, tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$68.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.06M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.15M	USD	1 Quarter
Change in unrealized gain on available-for-sale investments, net of tax of $68	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$158.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$10.15M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$24.21M	USD	1 Quarter

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