Trade Desk, Inc. (TTD) stock — is it a good business?

Trade Desk, Inc. (TTD) stock — is it a good business? — InspectStocks

Just reported

Q3 2026 results

From Trade Desk's results release of November 9, 2026; its quarterly report has since been filed.

Revenue
Actual
$736M
-0.5% y/y
+2.9% q/q
Guided
$650M
midpoint
Above guide+13%
EPS, GAAP
Actual
$0.08
-65% y/y
-43% q/q
Guided
—
No guide given
Operating income, GAAP
Actual
$92.6M
-43% y/y
-8.8% q/q
Guided
—
No guide given

Company outlook

Q4 2026

Revenue$755M-11% y/y First given

Set against the company's own guidance and the same quarter a year earlier, not analysts' estimates, which we do not hold. Adjusted figures are the company's own non-GAAP measures, as stated in the release.

The full earnings report →

How it makes money

Fees for ad-buying software, campaign services, and data100%

Shares of revenue are estimates for year ended December 31, 2025, high confidence, not figures from a filing.

Competes with

What it sells6

The Trade Desk advertising software
The main self-service software buyers use to purchase digital ad placements, manage campaigns, and review performance.
Koa
An AI assistant within the advertising software that analyzes campaign data and suggests insights and adjustments, while letting the user retain control.
Data marketplace
A place within the software where clients can access third-party audience data to help target and measure ads.

Show 3 more

Enterprise application programming interfaces
Tools clients can use to connect the advertising software to their own systems or build custom interfaces and reporting.
OpenPath
A way for advertisers to reach publisher ad space through a more direct connection.
Unified ID 2.0
An open identity system that turns an email address or phone number into a coded advertising identifier designed not to directly identify a person.

Who buys it3

Advertising agencies, which use the software to buy and manage campaigns for their advertising clients.
Advertisers, which can use the software themselves to buy and measure their digital ad campaigns.
Other service providers working for agencies or advertisers, which can use the software and related data or campaign services.

What it stands on, and what could break it

What the business leans on

1Clients generally sign ongoing master services agreements, but those agreements do not require them to spend a set amount through the company’s software.
2The business depends on access to ad space from exchanges, publishers, and companies that help publishers sell ads.
3Campaign targeting and measurement depend on access to usable data and on privacy laws and industry rules that govern how data may be collected and used.
4The software depends on data-center and cloud-hosting services, computing equipment, and suppliers of data and campaign services.

What could go wrong

1If agencies or advertisers reduce their use of the software, or the company fails to add clients and increase existing clients’ spending, revenue may be affected.
2If the company cannot maintain or expand access to suitable ad space from publishers and other inventory suppliers, it may have less inventory to offer clients.
3Changes to privacy laws, consumer opt-outs, or industry rules may limit the data available for ad targeting and measurement, require changes to the service, or reduce client demand.

Full financial statements →

About Trade Desk, Inc.

The Trade Desk sells web-based software that lets advertisers and agencies plan, buy, and measure digital ads; the software automates the purchase of individual ad placements. Buyers can use their own customer data and third-party data to choose which ads to show, and can run campaigns across connected television (CTV), mobile apps, websites, audio, and other channels. The company also provides data and other campaign services, artificial intelligence (AI) features, and application programming interfaces (APIs) that clients can use to customize the software.

Head office: Ventura, California
Founded: 2009
Employees: 3,843 (December 31, 2025, high confidence)
Listed on: Nasdaq
Financial year ends: December 31

Built from Trade Desk, Inc.’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.

Just reported

Q3 2026 results

From Trade Desk's results release of November 9, 2026; its quarterly report has since been filed.

Revenue
Actual
$736M
-0.5% y/y
+2.9% q/q
Guided
$650M
midpoint
Above guide+13%
EPS, GAAP
Actual
$0.08
-65% y/y
-43% q/q
Guided
—
No guide given
Operating income, GAAP
Actual
$92.6M
-43% y/y
-8.8% q/q
Guided
—
No guide given

Company outlook

Q4 2026

Revenue$755M-11% y/y First given

The full earnings report →

Keep exploring

The themes Trade Desk is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.

The theme it is part of

Highest-graded in Advertising Agencies

Graded A or B and worth $2B or more: A first, then the largest.

All 38 graded companies in its industry

Grade rose recently in Communication Services

Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.

All grade rises

How it makes money

Fees for ad-buying software, campaign services, and data100%

Shares of revenue are estimates for year ended December 31, 2025, high confidence, not figures from a filing.

Competes with

What it sells6

The Trade Desk advertising software
The main self-service software buyers use to purchase digital ad placements, manage campaigns, and review performance.
Koa
An AI assistant within the advertising software that analyzes campaign data and suggests insights and adjustments, while letting the user retain control.
Data marketplace
A place within the software where clients can access third-party audience data to help target and measure ads.

Show 3 more

Enterprise application programming interfaces
Tools clients can use to connect the advertising software to their own systems or build custom interfaces and reporting.
OpenPath
A way for advertisers to reach publisher ad space through a more direct connection.
Unified ID 2.0
An open identity system that turns an email address or phone number into a coded advertising identifier designed not to directly identify a person.

Who buys it3

Advertising agencies, which use the software to buy and manage campaigns for their advertising clients.
Advertisers, which can use the software themselves to buy and measure their digital ad campaigns.
Other service providers working for agencies or advertisers, which can use the software and related data or campaign services.

What it stands on, and what could break it

What the business leans on

1Clients generally sign ongoing master services agreements, but those agreements do not require them to spend a set amount through the company’s software.
2The business depends on access to ad space from exchanges, publishers, and companies that help publishers sell ads.
3Campaign targeting and measurement depend on access to usable data and on privacy laws and industry rules that govern how data may be collected and used.
4The software depends on data-center and cloud-hosting services, computing equipment, and suppliers of data and campaign services.

What could go wrong

1If agencies or advertisers reduce their use of the software, or the company fails to add clients and increase existing clients’ spending, revenue may be affected.
2If the company cannot maintain or expand access to suitable ad space from publishers and other inventory suppliers, it may have less inventory to offer clients.
3Changes to privacy laws, consumer opt-outs, or industry rules may limit the data available for ad targeting and measurement, require changes to the service, or reduce client demand.

Full financial statements →

About Trade Desk, Inc.

Head office: Ventura, California
Founded: 2009
Employees: 3,843 (December 31, 2025, high confidence)
Listed on: Nasdaq
Financial year ends: December 31

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

Company outlook

How it makes money

Competes with

What it sells6

Who buys it3

What it stands on, and what could break it

What the business leans on

What could go wrong

About Trade Desk, Inc.

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

Company outlook

Keep exploring

The theme it is part of

Highest-graded in Advertising Agencies

Grade rose recently in Communication Services

How it makes money

Competes with

What it sells6

Who buys it3

What it stands on, and what could break it

What the business leans on

What could go wrong

About Trade Desk, Inc.

Keep exploring

The theme it is part of

Highest-graded in Advertising Agencies

Grade rose recently in Communication Services

Digital advertising

Trade Desk, Inc.

Growth & cash — 5 of 5

Business trend

Share price and grade over time

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

Company outlook

How it makes money

Competes with

What it sells6

Who buys it3

What it stands on, and what could break it

What the business leans on

What could go wrong

About Trade Desk, Inc.

Q3 2026 results

Revenue

EPS, GAAP

Operating income, GAAP

Company outlook

Keep exploring

The theme it is part of

Highest-graded in Advertising Agencies

Grade rose recently in Communication Services

How it makes money

Competes with

What it sells6

Who buys it3

What it stands on, and what could break it

What the business leans on

What could go wrong

About Trade Desk, Inc.

Keep exploring

The theme it is part of

Highest-graded in Advertising Agencies

Grade rose recently in Communication Services

Digital advertising

Trade Desk, Inc.

Past performance

Growth & cash — 5 of 5

Business trend

Share price and grade over time