Companies /Communication Services

Trade Desk Inc - Class A

NASDAQ: TTD Advertising Agencies
$13.78
▲ $0.06 (+0.44%) today
Markets closed · 7:51pm ET

Q4 2025 Earnings

Reported Feb 25, 2026, 11:08am ET · SEC source
$0.59
Beat +1.67%
EPS · est. $0.58
$846.8M
Beat +0.73%
Revenue · est. $840.7M
+0.2%
Beating market
TTD vs S&P since report
2 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
−18%−12%−6%0Feb 25Feb 26report 11:08am ETearnings−0.6%−4.7%
−18%−12%−6%0Feb 25Feb 26earnings−0.6%−4.7%
TTD −4.7%S&P 500 −0.6%
−18%−12%−6%0Feb 25Feb 26report 11:08am ETearnings−1.2%−4.7%
−18%−12%−6%0Feb 25Feb 26earnings−1.2%−4.7%
TTD −4.7%NASDAQ −1.2%
−20%0+20%Feb 24Mar 5report 11:08am ETearnings−2.3%+17.8%
−20%0+20%Feb 24Mar 5earnings−2.3%+17.8%
TTD +17.8%S&P 500 −2.3%
−20%0+20%Feb 24Mar 5report 11:08am ETearnings−1.9%+17.8%
−20%0+20%Feb 24Mar 5earnings−1.9%+17.8%
TTD +17.8%NASDAQ −1.9%
−4.81%
Day of report
−0.54%
Next session
+24.38%
One week
−8.10%
30 days

S&P 500 over the same 30 days: −8.32%.

Did TTD Beat Earnings? Q4 2025 Results

The Trade Desk delivered a standout Q4 2025, posting earnings per share of $0.59 against a consensus estimate of $0.34 — a 73.58% beat that signaled the programmatic advertising platform's ability to drive profitability even as revenue growth moderated. Revenue came in at $846.79 million, edging past the $839.55 million estimate by 0.86% and representing 14.3% year-over-year growth, while adjusted EBITDA reached $400.34 million at a 47% margin. A key driver behind the quarter's strength was the company's Kokai platform momentum, expanded retail data integrations, and customer retention holding above 95% for the twelfth consecutive year. The company also deployed an aggressive $423 million in share repurchases during Q4 alone — a capital return posture that helped reshape the earnings-per-share picture. Still, for investors watching <a href="https://247wallst.com/investing/2026/02/25/the-trade-desk-faces-its-most-important-revenue-test-after-a-67-collapse/">the company's recovery path</a>, Q1 2026 guidance calling for at least $678 million in revenue and roughly $195 million in adjusted EBITDA suggests the growth story remains intact but measured.

Key Takeaways
  • 14% year-over-year Q4 revenue growth and 18% full-year revenue growth
  • Gross spend on platform reached $13.4 billion in 2025
  • Customer retention above 95% for the twelfth consecutive year
  • 47% Adjusted EBITDA margin maintained in Q4 2025
  • Growing advertiser demand for measurable outcomes and data-driven decisioning

“The Trade Desk delivered $2.9 billion in revenue in 2025 while continuing to generate significant profitability and cash flow. We executed against a backdrop of macro uncertainty while making some of the most meaningful upgrades in our company's history. As advertisers increasingly prioritize measurable outcomes and data-driven decisioning over cheap reach, our role as an objective platform becomes even more important. With continued innovation across Kokai, retail data, and the supply chain, we are well positioned to capture greater share of the global advertising market in 2026 and beyond.”

Trade Desk CEO, on the earnings call

Forward Guidance & Outlook

For Q1 2026, The Trade Desk expects revenue of at least $678 million and Adjusted EBITDA of approximately $195 million. The company did not provide GAAP net income guidance due to the variability and complexity of stock-based compensation expense.

TTD YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$300.0M$600.0M$900.0M$741.0M$846.8MRevenue$195.3M$256.9MOperating Income$182.2M$187.0MNet Income
$0$300.0M$600.0M$900.0MRevenueOperating IncomeNet Income

Figures from SEC filings and company reports. Not investment advice.