0001157523-23-001303.txt : 20230809 0001157523-23-001303.hdr.sgml : 20230809 20230809160527 ACCESSION NUMBER: 0001157523-23-001303 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20230809 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20230809 DATE AS OF CHANGE: 20230809 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Trade Desk, Inc. CENTRAL INDEX KEY: 0001671933 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 271887399 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37879 FILM NUMBER: 231155083 BUSINESS ADDRESS: STREET 1: 42 N. CHESTNUT STREET CITY: VENTURA STATE: CA ZIP: 93001 BUSINESS PHONE: (805) 585-3434 MAIL ADDRESS: STREET 1: 42 N. CHESTNUT STREET CITY: VENTURA STATE: CA ZIP: 93001 8-K 1 a53513796.htm THE TRADE DESK, INC. 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 9, 2023
 
THE TRADE DESK, INC.
(Exact name of registrant as specified in its charter)
 
Delaware
001-37879
27-1887399
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
 
 
42 N. Chestnut Street
Ventura, California 93001
(Address of principal executive offices) (Zip Code)
 
(805) 585-3434
(Registrant’s telephone number, including area code)
 
Not Applicable
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) 
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:

Title of each class
  
Trading Symbol
  
Name of each exchange on which registered
Class A Common Stock, par value $0.000001 per share
  
TTD
  
The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
 
Emerging growth company   ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02
Results of Operations and Financial Condition. 
 
On August 9, 2023, The Trade Desk, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2023. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
 
The information in this Current Report on Form 8-K and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
 
Item 9.01
Financial Statements and Exhibits.
 
(d)
The following exhibits are being filed herewith:
 
Exhibit No.
  
Description
 
104
  
Cover Page Interactive Data File (formatted as Inline XBRL).

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
THE TRADE DESK, INC.
(Registrant)
  
       
Date: August 9, 2023
By:
/s/ Laura Schenkein
  
   
Laura Schenkein
  
   
Chief Financial Officer
(Principal Financial and Accounting Officer)
  

EX-99.1 2 a53513796ex99_1.htm EXHIBIT 99.1
Exhibit 99.1

The Trade Desk Reports Second Quarter 2023 Financial Results

LOS ANGELES--(BUSINESS WIRE)--August 9, 2023--The Trade Desk, Inc. (NASDAQ: TTD), a provider of a global technology platform for buyers of advertising, today announced financial results for its second quarter ended June 30, 2023.

“Q2 marked another quarter of outstanding execution and share gains for The Trade Desk, delivering $464 million of revenue and 23% growth. With advances in areas such as CTV, retail and identity, we are helping the world’s largest brands buy media on the open internet with more precision and transparency than ever,” said Jeff Green, Co-founder and CEO of The Trade Desk. “With the launch of Kokai, we are surfacing that value more intuitively and putting data next to every decision. We are helping our clients put their first-party data to work, we’re making it easier for partners to integrate with us, and we’re helping clients get the full value of AI as a co-pilot across many aspects of the campaign process. As a result of these innovations, I’m confident we will continue to gain share, especially in key growth markets such as CTV.”

Second Quarter 2023 Financial Highlights:

The following table summarizes our consolidated financial results for the three and six months ended June 30, 2023 and 2022 ($ in millions, except per share amounts):

 

Three Months Ended

June 30,

 

Six Months Ended

June 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

GAAP Results

 

 

 

 

 

 

 

Revenue

$

464

 

 

$

377

 

 

$

847

 

 

$

692

 

Increase in revenue year over year

 

23

%

 

 

35

%

 

 

22

%

 

 

39

%

Net income (loss)

$

33

 

 

$

(19

)

 

$

42

 

 

$

(34

)

GAAP diluted earnings (loss) per share

$

0.07

 

 

$

(0.04

)

 

$

0.08

 

 

$

(0.07

)

 

 

 

 

 

 

 

 

Non-GAAP Results

 

 

 

 

 

 

 

Adjusted EBITDA

$

180

 

 

$

139

 

 

$

288

 

 

$

260

 

Adjusted EBITDA margin

 

39

%

 

 

37

%

 

 

34

%

 

 

38

%

Non-GAAP net income

$

139

 

 

$

99

 

 

$

254

 

 

$

203

 

Non-GAAP diluted earnings per share

$

0.28

 

 

$

0.20

 

 

$

0.51

 

 

$

0.41

 

Second Quarter and Recent Business Highlights:

  • Strong Customer Retention: Customer retention remained over 95% during the second quarter, as it has for the past nine consecutive years.
  • Continued Collaboration and Support for Unified ID 2.0: The Trade Desk is building support for Unified ID 2.0 (UID2), an industry-wide approach to identity that preserves the value of relevant advertising, while putting user control and privacy at the forefront. UID2 is an upgrade and alternative to third-party cookies. Recent partnerships and pledges of integration and support include:
    • Warner Bros. Discovery announced integration with UID2 across its premium entertainment, sports, news and lifestyle brands with its digital platforms, including Max and Discovery+.
    • Walmart Connect announced it is testing the integration of UID2 to inform decisioning across the open internet within the Walmart DSP.
    • EUID, the European counterpart to UID2 specifically developed for the European market, is gaining support across Europe from brands, publishers, and retailers. Initial industry engagement includes Bacardi, Kimberly-Clark, Aller Media, Future, OneFootball, Prisma Media, Tesco, and others.
    • On stage at Forward '23: Always On, NBCUniversal announced it is implementing UID2 on Peacock across all devices and consumer touchpoints, including on CTV, the web, apps and devices.
  • OpenPath: OpenPath gives our clients a simplified, direct connection to participating premium publishers across the open internet. By supporting an objective, transparent supply path, OpenPath helps to maximize value for everyone involved. OpenPath is already live with dozens of publishers representing over 11,000 destinations across connected TV, mobile, display and audio.
  • Industry Recognition (2023):
    • Top Women in Media and AdTech Award Winners: Samantha Jacobson - Change-Maker, Catherine Patterson - Tech Trailblazer, Jaime Nash - Programmatic Storyteller
    • Fortune - Best Workplaces for Millennials
    • National Intern Day - Top 100 Internship Programs of 2023
    • Digiday Video and TV Awards - Best TV/Streaming Ad Sales Product of the Year
    • Business Insider Rising Stars of AdTech - Ellen Mulryan, Sr. Dir. of Retail Data Partnerships
    • Quadrant Knowledge Solutions SPARK Matrix for Ad Tech - Technology Leader
    • Stevie Awards for Customer Service Success - Bronze, Technology Industries
  • Share Repurchases: We repurchased $44 million of our Class A common stock in the second quarter of 2023. As of June 30, 2023, we had $364 million available and authorized for repurchases.

Financial Guidance:

Third Quarter 2023 outlook summary:

  • Revenue at least $485 million
  • Adjusted EBITDA of approximately $185 million

We have not provided an outlook for GAAP Net Income or reconciliation of Adjusted EBITDA guidance to Net Income, the closest corresponding U.S. GAAP measure, because Net Income outlook is not available without unreasonable efforts on a forward-looking basis due to the variability and complexity with respect to the charges excluded from these non-GAAP measures; in particular, the measures and effects of our stock-based compensation expense that are directly impacted by unpredictable fluctuations in our share price. We expect the variability of the above charges could have a significant and potentially unpredictable impact on our future U.S. GAAP financial results.

Use of Non-GAAP Financial Information

Included within this press release are the non-GAAP financial measures of Adjusted EBITDA, Non-GAAP Net Income and Non-GAAP Diluted EPS that supplement the Condensed Consolidated Statements of Operations of The Trade Desk, Inc. (the Company) prepared under generally accepted accounting principles (GAAP). Adjusted EBITDA is earnings before interest expense (income), net; provision for income taxes; depreciation and amortization; and stock-based compensation. Non-GAAP Net Income excludes charges and the related income tax effects for stock-based compensation. Tax rates on the tax-deductible portions of the stock-based compensation expense approximating 25% to 30% have been used in the computation of non-GAAP Net Income and non-GAAP Diluted EPS. Reconciliations of GAAP to non-GAAP amounts for the periods presented herein are provided in schedules accompanying this release and should be considered together with the Condensed Consolidated Statements of Operations. These non-GAAP measures are not meant as a substitute for GAAP, but are included solely for informational and comparative purposes. The Company's management believes that this information can assist investors in evaluating the Company's operational trends, financial performance, and cash-generating capacity. Management believes these non-GAAP measures allow investors to evaluate the Company’s financial performance using some of the same measures as management. However, the non-GAAP financial measures should not be regarded as a replacement for or superior to corresponding, similarly captioned, GAAP measures and may be different from non-GAAP financial measures used by other companies.

Second Quarter 2023 Financial Results Webcast and Conference Call Details

  • When: August 9, 2023 at 2:00 P.M. Pacific Time (5:00 P.M. Eastern Time).
  • Webcast: A live webcast of the call can be accessed from the Investor Relations section of The Trade Desk’s website at http://investors.thetradedesk.com/. Following the call, a replay will be available on the company’s website.
  • Dial-in: To access the call via telephone in North America, please dial 888-506-0062. For callers outside the United States, please dial 1-973-528-0011. Participants should reference the conference call ID code “192228” after dialing in.
  • Audio replay: An audio replay of the call will be available beginning about two hours after the call. To listen to the replay in the United States, please dial 877-481-4010 (replay code: 48706). Outside the United States, please dial 1-919-882-2331 (replay code: 48706). The audio replay will be available via telephone until August 16, 2023.

The Trade Desk, Inc. uses its Investor Relations website (http://investors.thetradedesk.com/), its Twitter feed (@TheTradeDesk), LinkedIn page (https://www.linkedin.com/company/the-trade-desk/), Facebook page (https://www.facebook.com/TheTradeDesk/), Jeff Green’s Twitter feed (@jefftgreen) and LinkedIn profile (https://www.linkedin.com/in/jefftgreen/) as a means of disclosing information about the company and for complying with its disclosure obligations under Regulation FD. The information that is posted through these channels may be deemed material. Accordingly, investors should monitor these channels in addition to The Trade Desk’s press releases, SEC filings, public conference calls and webcasts.

About The Trade Desk

The Trade Desk™ is a technology company that empowers buyers of advertising. Through its self-service, cloud-based platform, ad buyers can create, manage, and optimize digital advertising campaigns across ad formats and devices. Integrations with major data, inventory, and publisher partners ensure maximum reach and decisioning capabilities, and enterprise APIs enable custom development on top of the platform. Headquartered in Ventura, CA, The Trade Desk has offices across North America, Europe, and Asia Pacific. To learn more, visit thetradedesk.com or follow us on Facebook, Twitter, LinkedIn and YouTube.

Forward-Looking Statements

This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to expectations concerning matters that (a) are not historical facts, (b) predict or forecast future events or results, or (c) embody assumptions that may prove to have been inaccurate, including statements relating to the industry and market trends, and the Company’s financial targets, such as revenue and Adjusted EBITDA. When words such as “believe,” “expect,” “anticipate,” “will”, “outlook” or similar expressions are used, the Company is making forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give readers any assurance that such expectations will prove correct. These forward-looking statements involve risks, uncertainties and assumptions, including those related to the Company’s relatively limited operating history, which makes it difficult to evaluate the Company’s business and prospects, the market for programmatic advertising developing slower or differently than the Company’s expectations, the demands and expectations of clients and the ability to attract and retain clients. The actual results may differ materially from those anticipated in the forward-looking statements as a result of numerous factors, many of which are beyond the control of the Company. These are disclosed in the Company’s reports filed from time to time with the Securities and Exchange Commission, including its most recent Form 10-K and any subsequent filings on Forms 10-Q or 8-K, available at www.sec.gov. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company does not intend to update any forward-looking statement contained in this press release to reflect events or circumstances arising after the date hereof.


THE TRADE DESK, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands, except per share amounts)

(Unaudited)




 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

Revenue

$

464,254

 

 

$

376,962

 

 

$

847,057

 

 

$

692,285

 

Operating expenses (1):

 

 

 

 

 

 

 

Platform operations

 

86,654

 

 

 

67,490

 

 

 

171,521

 

 

 

131,380

 

Sales and marketing

 

111,489

 

 

 

89,420

 

 

 

208,711

 

 

 

160,108

 

Technology and development

 

98,308

 

 

 

83,483

 

 

 

192,018

 

 

 

155,482

 

General and administrative

 

126,130

 

 

 

134,826

 

 

 

256,442

 

 

 

260,625

 

Total operating expenses

 

422,581

 

 

 

375,219

 

 

 

828,692

 

 

 

707,595

 

Income (loss) from operations

 

41,673

 

 

 

1,743

 

 

 

18,365

 

 

 

(15,310

)

Total other income, net

 

(18,254

)

 

 

(339

)

 

 

(31,954

)

 

 

(58

)

Income (loss) before income taxes

 

59,927

 

 

 

2,082

 

 

 

50,319

 

 

 

(15,252

)

Provision for income taxes

 

26,988

 

 

 

21,155

 

 

 

8,054

 

 

 

18,419

 

Net income (loss)

$

32,939

 

 

$

(19,073

)

 

$

42,265

 

 

$

(33,671

)

Earnings (loss) per share:

 

 

 

 

 

 

 

Basic

$

0.07

 

 

$

(0.04

)

 

$

0.09

 

 

$

(0.07

)

Diluted

$

0.07

 

 

$

(0.04

)

 

$

0.08

 

 

$

(0.07

)

Weighted-average shares outstanding:

 

 

 

 

 

 

 

Basic

 

488,431

 

 

 

486,310

 

 

 

489,068

 

 

 

485,256

 

Diluted

 

499,349

 

 

 

486,310

 

 

 

499,570

 

 

 

485,256

 








 

___________________________

(1) Includes stock-based compensation expense as follows:

STOCK-BASED COMPENSATION EXPENSE

(Amounts in thousands)

(Unaudited)




 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

2023

 

2022

 

2023

 

2022

 

 

 

 

 

 

 

 

Platform operations

$

4,967

 

$

4,787

 

$

8,913

 

$

10,737

Sales and marketing

 

18,800

 

 

17,332

 

 

32,923

 

 

33,857

Technology and development

 

26,689

 

 

22,224

 

 

47,556

 

 

44,617

General and administrative (1)

 

66,627

 

 

80,870

 

 

141,161

 

 

160,897

Total

$

117,083

 

$

125,213

 

$

230,553

 

$

250,108








 

___________________________

(1) Includes stock-based compensation expense related to a long-term CEO performance grant of $48 million and $66 million for the three months ended June 30, 2023 and 2022, respectively, as well as $108 million and $131 million for the six months ended June 30, 2023 and 2022, respectively.


THE TRADE DESK, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands)

(Unaudited)




 

 

As of June 30,
2023

 

As of December 31,
2022

ASSETS

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

965,831

 

$

1,030,506

Short-term investments, net

 

465,113

 

 

416,080

Accounts receivable, net

 

2,346,070

 

 

2,347,195

Prepaid expenses and other current assets

 

54,749

 

 

51,836

Total current assets

 

3,831,763

 

 

3,845,617

Property and equipment, net

 

159,805

 

 

173,759

Operating lease assets

 

212,088

 

 

220,396

Deferred income taxes

 

94,028

 

 

94,028

Other assets, non-current

 

49,284

 

 

46,879

Total assets

$

4,346,968

 

$

4,380,679

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

1,892,906

 

$

1,871,419

Accrued expenses and other current liabilities

 

103,285

 

 

105,474

Operating lease liabilities

 

54,793

 

 

52,430

Total current liabilities

 

2,050,984

 

 

2,029,323

Operating lease liabilities, non-current

 

198,075

 

 

208,527

Other liabilities, non-current

 

26,499

 

 

27,490

Total liabilities

 

2,275,558

 

 

2,265,340

 

 

 

 

Stockholders' equity:

 

 

 

Preferred stock

 

—

 

 

—

Common stock

 

—

 

 

—

Additional paid-in capital

 

1,700,498

 

 

1,449,825

Retained earnings

 

370,912

 

 

665,514

Total stockholders' equity

 

2,071,410

 

 

2,115,339

Total liabilities and stockholders' equity

$

4,346,968

 

$

4,380,679




 
THE TRADE DESK, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands)

(Unaudited)


 

 

Six Months Ended June 30,

 

 

2023

 

 

 

2022

 

OPERATING ACTIVITIES:

 

 

 

Net income (loss)

$

42,265

 

 

$

(33,671

)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

 

 

 

Depreciation and amortization

 

39,359

 

 

 

24,624

 

Stock-based compensation

 

230,553

 

 

 

250,108

 

Noncash lease expense

 

24,325

 

 

 

21,343

 

Allowance for credit losses on accounts receivable

 

318

 

 

 

2,078

 

Deferred income taxes

 

—

 

 

 

1,555

 

Other

 

(8,423

)

 

 

6,630

 

Changes in operating assets and liabilities:

 

 

 

Accounts receivable

 

(35,368

)

 

 

112,345

 

Prepaid expenses and other current and non-current assets

 

(3,659

)

 

 

29,018

 

Accounts payable

 

50,995

 

 

 

(129,853

)

Accrued expenses and other current and non-current liabilities

 

399

 

 

 

(22,190

)

Operating lease liabilities

 

(25,102

)

 

 

(24,029

)

Net cash provided by operating activities

 

315,662

 

 

 

237,958

 

INVESTING ACTIVITIES:

 

 

 

Purchases of investments

 

(316,307

)

 

 

(233,877

)

Sales of investments

 

—

 

 

 

1,977

 

Maturities of investments

 

274,401

 

 

 

154,092

 

Purchases of property and equipment

 

(16,556

)

 

 

(12,541

)

Capitalized software development costs

 

(3,415

)

 

 

(3,226

)

Net cash used in investing activities

 

(61,877

)

 

 

(93,575

)

FINANCING ACTIVITIES:

 

 

 

Repurchases of Class A common stock

 

(336,494

)

 

 

—

 

Proceeds from exercise of stock options

 

27,772

 

 

 

31,795

 

Proceeds from employee stock purchase plan

 

21,316

 

 

 

25,547

 

Taxes paid related to net settlement of restricted stock awards

 

(31,054

)

 

 

(23,196

)

Net cash provided by (used in) financing activities

 

(318,460

)

 

 

34,146

 

Increase (decrease) in cash and cash equivalents

 

(64,675

)

 

 

178,529

 

Cash and cash equivalents—Beginning of period

 

1,030,506

 

 

 

754,154

 

Cash and cash equivalents—End of period

$

965,831

 

 

$

932,683

 




 
Non-GAAP Financial Metrics

(Amounts in thousands, except per share amounts)

 

The following tables show the Company’s non-GAAP financial metrics reconciled to the comparable GAAP financial metrics included in this release.




 

 

Three Months Ended

June 30,

 

Six Months Ended

June 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

 

 

 

 

 

 

 

 

Net income (loss)

$

32,939

 

 

$

(19,073

)

 

$

42,265

 

 

$

(33,671

)

Add back:

 

 

 

 

 

 

 

Depreciation and amortization expense

 

20,066

 

 

 

12,274

 

 

 

39,359

 

 

 

24,624

 

Stock-based compensation expense

 

117,083

 

 

 

125,213

 

 

 

230,553

 

 

 

250,108

 

Interest expense (income), net

 

(17,507

)

 

 

(656

)

 

 

(31,930

)

 

 

420

 

Provision for income taxes

 

26,988

 

 

 

21,155

 

 

 

8,054

 

 

 

18,419

 

Adjusted EBITDA

$

179,569

 

 

$

138,913

 

 

$

288,301

 

 

$

259,900

 

 

 

 

 

 

 

 

 

 

Three Months Ended

June 30,

 

Six Months Ended

June 30,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

GAAP net income (loss)

$

32,939

 

 

$

(19,073

)

 

$

42,265

 

 

$

(33,671

)

Add back (deduct):

 

 

 

 

 

 

 

Stock-based compensation expense

 

117,083

 

 

 

125,213

 

 

 

230,553

 

 

 

250,108

 

Adjustment for income taxes

 

(10,525

)

 

 

(7,500

)

 

 

(18,824

)

 

 

(13,135

)

Non-GAAP net income

$

139,497

 

 

$

98,640

 

 

$

253,994

 

 

$

203,302

 

 

 

 

 

 

 

 

 

GAAP diluted earnings (loss) per share

$

0.07

 

 

$

(0.04

)

 

$

0.08

 

 

$

(0.07

)

 

 

 

 

 

 

 

 

GAAP weighted-average shares outstanding—diluted

 

499,349

 

 

 

486,310

 

 

 

499,570

 

 

 

485,256

 

 

 

 

 

 

 

 

 

Non-GAAP diluted earnings per share

$

0.28

 

 

$

0.20

 

 

$

0.51

 

 

$

0.41

 

 

 

 

 

 

 

 

 

Non-GAAP weighted-average shares used in computing Non-GAAP earnings per share, diluted (1)

 

499,349

 

 

 

499,155

 

 

 

499,570

 

 

 

499,477

 








 

_________________________

(1) Includes an additional 12.8 million and 14.2 million of dilutive securities for the three and six months ended June 30, 2022, respectively, which are not included in GAAP diluted weighted-average shares outstanding due to the Company's net loss position for the three and six months ended June 30, 2022.

 

Contacts

Investors
Jake Graves
Manager, Investor Relations
The Trade Desk
ir@thetradedesk.com
312-620-0806

Media
Melinda Zurich
VP, Communications
The Trade Desk
melinda.zurich@thetradedesk.com
201-320-9398

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