Trade Desk Inc - Class A

The Trade Desk posted a clean beat across the board in Q3 2025, with revenue climbing 17.7% year-over-year to $739.43 million against a consensus estimate of $719.34 million, while non-GAAP diluted EPS of $0.45 edged past the $0.44 estimate by 1.86% — a quarter that underscores the company's steady grip on programmatic advertising share. The primary engine behind the outperformance was accelerating adoption of its Kokai platform, where AI-driven buying tools are pulling more advertiser dollars across connected TV, retail media, and the broader open internet; customer retention held above 95% for the 11th straight year, reflecting how deeply embedded the platform has become. Adjusted EBITDA margins expanded to 43% from 41% a year earlier, and the company repurchased $310 million in shares during the quarter before the board authorized an additional $500 million buyback. Management guided Q4 2025 revenue to at least $840 million with Adjusted EBITDA of roughly $375 million — a forward look that will matter greatly for a stock that has faced <a href="https://247wallst.com/investing/2026/02/25/the-trade-desk-faces-its-most-important-revenue-test-after-a-67-collapse/">significant valuation pressure</a> in recent months.