10-Q Filing

Trade Desk, Inc. CIK: 1671933 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-026067`
Period End Date	20210331
Filing Date	20210510
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	ttd-10q_20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 34 Cash Flow Statement 62 Stockholders Equity 16

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$471.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$437.35M	USD	Point-in-time
Short-term investments, net	`ShortTermInvestments`	$186.69M	USD	Point-in-time
Short-term investments, net	`ShortTermInvestments`	$208.45M	USD	Point-in-time
Accounts receivable, net of allowance for credit losses of $7,323 and $7,253 as of March 31, 2021 and December 31, 2020, respectively	`AccountsReceivableNetCurrent`	$1.58B	USD	Point-in-time
Accounts receivable, net of allowance for credit losses of $7,323 and $7,253 as of March 31, 2021 and December 31, 2020, respectively	`AccountsReceivableNetCurrent`	$1.37B	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$121.40M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$102.17M	USD	Point-in-time
Accounts receivable, allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.32M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$2.17B	USD	Point-in-time
Accounts receivable, allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.25M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$2.31B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$115.86M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$115.91M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$237.92M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$248.14M	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 income taxes	`DeferredIncomeTaxAssetsNet`	$50.17M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$50.17M	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
Other assets, non-current	`OtherAssetsNoncurrent`	$28.55M	USD	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$29.15M	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
TOTAL ASSETS	`Assets`	$2.60B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.75B	USD	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`	$1.35B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.14B	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$83.53M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$88.33M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$37.87M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$37.69M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$1.47B	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$1.26B	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$254.56M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$245.90M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$11.26M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$9.01M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.74B	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.52B	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, 2021 and December 31, 2020	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.000001; 100,000 shares authorized, zero shares issued and outstanding as of March 31, 2021 and December 31, 2020	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.000001 Class A, 1,000,000 shares authorized; 43,025 and 42,338 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively Class B, 95,000 shares authorized; 4,506 and 5,002 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	-	USD	Point-in-time
Common stock, par value $0.000001 Class A, 1,000,000 shares authorized; 43,025 and 42,338 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively Class B, 95,000 shares authorized; 4,506 and 5,002 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$587.30M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$538.78M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$497.01M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$474.37M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$1.01B	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$612.52M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$1.08B	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$674.03M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$2.75B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$2.60B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$160.66M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$219.81M	USD	1 Quarter
Platform operations	`CostOfGoodsAndServicesSold`	$50.50M	USD	1 Quarter
Platform operations	`CostOfGoodsAndServicesSold`	$40.21M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$55.76M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$34.29M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$53.92M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$36.79M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$38.60M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$51.84M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$212.03M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$149.89M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.78M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$10.77M	USD	1 Quarter
Interest expense (income), net	`InterestIncomeExpenseNet`	$-45.00K	USD	1 Quarter
Interest expense (income), net	`InterestIncomeExpenseNet`	$817.00K	USD	1 Quarter
Foreign currency exchange loss (gain), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.23M	USD	1 Quarter
Foreign currency exchange loss (gain), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$353.00K	USD	1 Quarter
Total other expense (income), net	`NonoperatingIncomeExpense`	$308.00K	USD	1 Quarter
Total other expense (income), net	`NonoperatingIncomeExpense`	$-417.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.35M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.09M	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-14.55M	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-13.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.64M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.06M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.48	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.53	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.50	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.45	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	45.50M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	47.28M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.31M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.79M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$22.64M	USD	1 Quarter
Net income	`ProfitLoss`	$24.06M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.01M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.48M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$22.96M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$52.35M	USD	1 Quarter
Allowance for credit losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$1.31M	USD	1 Quarter
Allowance for credit losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$203.00K	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	$7.40M	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	$9.45M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-3.48M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-4.91M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-208.85M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-210.55M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$16.18M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$15.79M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-200.58M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-205.97M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$960.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-5.69M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-2.67M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-10.89M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$52.78M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$75.07M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$35.93M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$89.35M	USD	1 Quarter
Sales of investments	`ProceedsFromSalesOfInvestments`	$4.54M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$39.18M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$62.67M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.12M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.31M	USD	1 Quarter
Capitalized software development costs	`PaymentsToDevelopSoftware`	$965.00K	USD	1 Quarter
Capitalized software development costs	`PaymentsToDevelopSoftware`	$1.06M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-36.33M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-16.03M	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$143.00M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$12.62M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$19.48M	USD	1 Quarter
Taxes paid related to net settlement of restricted stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.89M	USD	1 Quarter
Taxes paid related to net settlement of restricted stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$17.08M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$157.59M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.46M	USD	1 Quarter
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$194.34M	USD	1 Quarter
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$34.28M	USD	1 Quarter
Cash and cash equivalentsBeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$437.35M	USD	Point-in-time
Cash and cash equivalentsBeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$325.21M	USD	Point-in-time
Cash and cash equivalentsBeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$130.88M	USD	Point-in-time
Cash and cash equivalentsBeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$471.64M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$437.35M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$325.21M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$130.88M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$471.64M	USD	Point-in-time
Capitalized assets financed by accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$2.42M	USD	1 Quarter
Capitalized assets financed by accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$10.20M	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`	$15.11M	USD	1 Quarter
Increase (decrease) in right-of-use assets obtained in exchange for operating lease liabilities	`IncreaseDecreaseInRightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$34.16M	USD	1 Quarter
Increase (decrease) in right-of-use assets obtained in exchange for operating lease liabilities	`IncreaseDecreaseInRightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$-937.00K	USD	1 Quarter
Asset retirement obligation	`AssetRetirementObligationPeriodIncreaseDecrease`	$65.00K	USD	1 Quarter
Asset retirement obligation	`AssetRetirementObligationPeriodIncreaseDecrease`	$625.00K	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`	$631.00K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of period	`StockholdersEquity`	$1.01B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$612.52M	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$1.08B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$674.03M	USD	Point-in-time
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$19.48M	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$12.62M	USD	1 Quarter
Restricted stock, net of forfeitures and shares withheld for taxes	`StockIssuedDuringPeriodValueRestrictedStockNetOfForfeituresAndSharesWithheldForTaxes`	$-4.89M	USD	1 Quarter
Restricted stock, net of forfeitures and shares withheld for taxes	`StockIssuedDuringPeriodValueRestrictedStockNetOfForfeituresAndSharesWithheldForTaxes`	$-17.08M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$23.26M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$52.98M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.64M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.06M	USD	1 Quarter
Balance at end of period	`StockholdersEquity`	$1.01B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$612.52M	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$1.08B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$674.03M	USD	Point-in-time

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