$TTD · Trade Desk, Inc.
Trade Desk's 10-Q for Q3 FY2026 shows revenue of $735.97M, down 0.5% YoY from $739.43M. Net income fell to $38.05M from $115.55M, with diluted EPS of $0.08 vs $0.23. Operating income dropped to $92.6M from $161.2M as total operating expenses rose to $643.4M from $578.2M, driven by a 23% increase in platform-operations costs. Nine-month revenue grew 4.4% to $2.14B but net income fell 44% to $142.4M.
- Q3 revenue $735.97M, down 0.5% YoY from $739.43M.
- Q3 net income $38.05M, down 67% from $115.55M.
- Diluted EPS $0.08 vs $0.23 a year ago.
- Platform-operations costs rose 23% YoY to $200.2M.
- Nine-month operating cash flow rose to $803.7M from $681.1M.
Extended-hours last trade $14.83, down 0.64% vs regular close and 0.77% vs price-at-filing, a muted reaction despite the sharp profit decline.
Trade Desk's first YoY revenue decline and 67% profit drop mark a sharp deceleration for a high-growth ad-tech leader.
Trade Desk's flat revenue contrasts with the broader ad-tech sector's growth, signaling potential share loss or macro pressure on digital ad spend.
Management cites macroeconomic uncertainty and geopolitical disruption as risks to revenue and results, with uncertain duration and impact on clients and partners.