10-Q Filing

Trade Desk, Inc. CIK: 1671933 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001671933-23-000032`
Period End Date	20230331
Filing Date	20230510
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	ttd-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 34 Cash Flow Statement 64 Stockholders Equity 17

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.03B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$892.70M	USD	Point-in-time
Short-term investments, net	`ShortTermInvestments`	$416.08M	USD	Point-in-time
Short-term investments, net	`ShortTermInvestments`	$437.73M	USD	Point-in-time
Accounts receivable, net of allowance for credit losses of $10,792 and $10,477 as of March 31, 2023 and December 31, 2022, respectively	`AccountsReceivableNetCurrent`	$2.35B	USD	Point-in-time
Accounts receivable, net of allowance for credit losses of $10,792 and $10,477 as of March 31, 2023 and December 31, 2022, respectively	`AccountsReceivableNetCurrent`	$2.09B	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$51.84M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$59.10M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$3.48B	USD	Point-in-time
Accounts receivable, allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.79M	USD	Point-in-time
Accounts receivable, allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.48M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$3.85B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$173.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$170.45M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$220.40M	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
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$212.04M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$94.03M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$94.03M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$47.25M	USD	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$46.88M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.38B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.00B	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`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`	$1.68B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.87B	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$100.15M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$105.47M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$52.43M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$53.05M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$2.03B	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$1.83B	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$200.73M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$208.53M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$27.75M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$27.49M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.06B	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.27B	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $0.000001; 100,000 shares authorized, zero shares issued and outstanding as of March 31, 2023 and December 31, 2022	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.000001; 100,000 shares authorized, zero shares issued and outstanding as of March 31, 2023 and December 31, 2022	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.000001 Class A, 1,000,000 shares authorized; 444,158 and 446,456 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively Class B, 95,000 shares authorized; 44,036 and 44,012 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	-	USD	Point-in-time
Common stock, par value $0.000001 Class A, 1,000,000 shares authorized; 444,158 and 446,456 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively Class B, 95,000 shares authorized; 44,036 and 44,012 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.45B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.56B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$381.98M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$665.51M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$1.53B	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$1.65B	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$2.12B	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$1.94B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$4.00B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$4.38B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$382.80M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$315.32M	USD	1 Quarter
Platform operations	`CostOfGoodsAndServicesSold`	$63.89M	USD	1 Quarter
Platform operations	`CostOfGoodsAndServicesSold`	$84.87M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$70.69M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$97.22M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$93.71M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$72.00M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$125.80M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$130.31M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$332.38M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$406.11M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-17.05M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-23.31M	USD	1 Quarter
Interest expense (income), net	`InterestIncomeExpenseNet`	$-1.08M	USD	1 Quarter
Interest expense (income), net	`InterestIncomeExpenseNet`	$14.42M	USD	1 Quarter
Foreign currency exchange loss (gain), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-723.00K	USD	1 Quarter
Foreign currency exchange loss (gain), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$795.00K	USD	1 Quarter
Total other expense (income), net	`NonoperatingIncomeExpense`	$-281.00K	USD	1 Quarter
Total other expense (income), net	`NonoperatingIncomeExpense`	$13.70M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-17.33M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.61M	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-18.93M	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-2.74M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-14.60M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$9.33M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	484.19M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	489.71M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	484.19M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	499.80M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$9.33M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-14.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$19.29M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.35M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$113.47M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$124.89M	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	$10.52M	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	$11.92M	USD	1 Quarter
Allowance for credit losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$725.00K	USD	1 Quarter
Allowance for credit losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$316.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-5.30M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-998.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$1.31M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-258.17M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-259.48M	USD	1 Quarter
Prepaid expenses and other current and non-current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.48M	USD	1 Quarter
Prepaid expenses and other current and non-current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-23.74M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-245.94M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-200.70M	USD	1 Quarter
Accrued expenses and other current and non-current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-8.69M	USD	1 Quarter
Accrued expenses and other current and non-current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-4.31M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-11.99M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-13.11M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$187.57M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$146.19M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$144.72M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$121.22M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$64.13M	USD	1 Quarter
Maturities of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$126.73M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.16M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.40M	USD	1 Quarter
Capitalized software development costs	`PaymentsToDevelopSoftware`	$1.47M	USD	1 Quarter
Capitalized software development costs	`PaymentsToDevelopSoftware`	$1.61M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.61M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-67.10M	USD	1 Quarter
Repurchases of Class A common stock	`PaymentsForRepurchaseOfCommonStock`	$291.53M	USD	1 Quarter
Repurchases of Class A common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$24.41M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$10.37M	USD	1 Quarter
Taxes paid related to net settlement of restricted stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$15.60M	USD	1 Quarter
Taxes paid related to net settlement of restricted stock awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$13.43M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.98M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-296.76M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$90.07M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-137.80M	USD	1 Quarter
Cash and cash equivalentsBeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$892.70M	USD	Point-in-time
Cash and cash equivalentsBeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$844.22M	USD	Point-in-time
Cash and cash equivalentsBeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.03B	USD	Point-in-time
Cash and cash equivalentsBeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$754.15M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$892.70M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$844.22M	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.03B	USD	Point-in-time
Cash and cash equivalentsEnd of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$754.15M	USD	Point-in-time
Cash paid for operating lease liabilities	`OperatingLeasePayments`	$15.34M	USD	1 Quarter
Cash paid for operating lease liabilities	`OperatingLeasePayments`	$14.03M	USD	1 Quarter
Operating lease assets obtained in exchange for operating lease liabilities	`IncreaseDecreaseInRightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$4.00M	USD	1 Quarter
Operating lease assets obtained in exchange for operating lease liabilities	`IncreaseDecreaseInRightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$4.73M	USD	1 Quarter
Capitalized assets financed by accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$1.84M	USD	1 Quarter
Capitalized assets financed by accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$5.21M	USD	1 Quarter
Tenant improvements paid by lessor	`TenantImprovementsPaidByLessorValue`	$1.55M	USD	1 Quarter
Tenant improvements paid by lessor	`TenantImprovementsPaidByLessorValue`	-	USD	1 Quarter
Stock-based compensation included in capitalized software development costs	`EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount`	$520.00K	USD	1 Quarter
Stock-based compensation included in capitalized software development costs	`EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount`	$765.00K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of period	`StockholdersEquity`	$1.53B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$1.65B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$2.12B	USD	Point-in-time
Balance at beginning of period	`StockholdersEquity`	$1.94B	USD	Point-in-time
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$10.37M	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$24.41M	USD	1 Quarter
Issuance of restricted stock, net of forfeitures and shares withheld for taxes	`StockIssuedDuringPeriodValueRestrictedStockNetOfForfeituresAndSharesWithheldForTaxes`	$-13.43M	USD	1 Quarter
Issuance of restricted stock, net of forfeitures and shares withheld for taxes	`StockIssuedDuringPeriodValueRestrictedStockNetOfForfeituresAndSharesWithheldForTaxes`	$-15.60M	USD	1 Quarter
Repurchases of Class A common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$292.86M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$114.23M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$125.42M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-14.60M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$9.33M	USD	1 Quarter
Balance at end of period	`StockholdersEquity`	$1.53B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$1.65B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$2.12B	USD	Point-in-time
Balance at end of period	`StockholdersEquity`	$1.94B	USD	Point-in-time

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