# EDGAR Filing Document

**Accession Number:** 0001671933
**File Stem:** 0001671933-25-000123
**Filing Date:** 2025-8
**Character Count:** 38247
**Document Hash:** cc747e1b3cc98573c9ae8f107db3bd80
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001671933-25-000123.hdr.sgml**: 20250807

**ACCESSION NUMBER**: 0001671933-25-000123

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250802

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250807

**DATE AS OF CHANGE**: 20250807

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Trade Desk, Inc.
- **CENTRAL INDEX KEY:** 0001671933
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 271887399
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37879
- **FILM NUMBER:** 251194418

**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

?xml version='1.0' encoding='ASCII'? ttd-20250802

**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 2, 2025**

**THE TRADE DESK, INC.**

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Nevada** | **001-37879** | **27-1887399** |
| **(State or other jurisdiction**<br>**of incorporation)** | **(Commission**<br>**File Number)** | **(I.R.S. Employer**<br>**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&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition.** 

On August 7, 2025, The Trade Desk, Inc. (the "Company") issued a press release announcing its financial results for the quarter ended June 30, 2025. 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 5.02&nbsp;&nbsp;&nbsp;&nbsp;Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.** 

(d) On August 2, 2025, the Company's Board of Directors (the "Board") appointed Omar Tawakol to the Board as a Class II director, effective August 11, 2025. Mr. Tawakol was appointed to a newly created vacancy on the Board resulting from an increase in the size of the Board from seven (7) directors to eight (8) directors.

As a result of his appointment to the Board, Mr. Tawakol will be entitled to participate in the Company's non-employee director compensation program (the "Program"). Pursuant to the Program, Mr. Tawakol will be entitled to receive annual compensation of $50,000 for his service on the Board. Additionally, pursuant to the Program and under the Company's 2025 Incentive Award Plan, Mr. Tawakol will be eligible to receive (i) an initial equity grant valued at $290,000, which he may elect to receive in the form of restricted stock, restricted stock units, stock options or a mix of one-half restricted stock or restricted stock units and one-half options, which will generally vest in substantially equal quarterly installments over the three-year period following the grant, and (ii) an annual equity grant of $290,000, prorated from the date of appointment to the Company's next annual meeting of stockholders, which he may elect to receive in the form of restricted stock, restricted stock units, stock options or a mix of one-half restricted stock or restricted stock units and one-half options, which will vest in full on the date of the Company's next annual meeting of stockholders. The Company will also enter into an indemnification agreement with Mr. Tawakol in substantially the same form entered into with the other directors of the Company.

There are no arrangements or understandings between Mr. Tawakol, on the one hand, and any other persons, on the other hand, pursuant to which Mr. Tawakol was selected as a director. Mr. Tawakol currently serves as the chief executive officer of Rembrand, Inc., a software technology company specializing in virtual product ads in which the Company holds less than 2% of the ownership interest following an approximate $1.0 million investment by the Company during the year ended December 31, 2024. Mr. Tawakol is otherwise not a party to any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Mr. Tawakol has no family relationship with any director or executive officer of the Company. Mr. Tawakol has not been appointed to serve on any committee of the Board. A copy of the press release announcing Mr. Tawakol's appointment is filed as Exhibit 99.2 to this Current Report on Form 8-K.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

(d)&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are being filed herewith:

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | <u>[Press release of the Company, dated](ttd-2025807x8kexx991.htm)[August 7](ttd-2025807x8kexx991.htm)[, 2025](ttd-2025807x8kexx991.htm)</u>. |
| 99.2 | <u>[Press release of the Company, dated August 7, 2025](ex992-pressreleaseot.htm)</u>. |
| 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. | THE TRADE DESK, INC. |
| Date: August 7, 2025 | By: | /s/ Laura Schenkein |
|  |  | Laura Schenkein |
|  |  | Chief Financial Officer<br>(Principal Financial and Accounting Officer) |

---

## Exhibit 99.1

**Exhibit 99.1**

**The Trade Desk Reports Second Quarter 2025 Financial Results**

LOS ANGELES--(BUSINESS WIRE)--August 7, 2025--The Trade Desk, Inc. ("The Trade Desk," the "Company" or "we") (NASDAQ: TTD), a provider of a global technology platform for buyers of advertising, today announced financial results for its second quarter ended June 30, 2025.

"Q2 was a strong quarter for The Trade Desk, with revenue growing to $694 million, up 19% year-over-year, as we continue to outpace the digital advertising market," said Jeff Green, CEO and Co-Founder, The Trade Desk. "The first half of 2025 has been defined by meaningful innovation across our platform. Kokai is helping advertisers drive better results by integrating more data into every decision, using AI as a co-pilot, and unlocking the full potential of first-party data. We've also made significant progress in CTV, retail media, and the supply chain, empowering the world's largest brands and agencies to reach audiences across the open internet. With continued innovation in Kokai, growing adoption of OpenPath, and deeper partnerships across the ecosystem, we're delivering exceptional value to our clients and helping to strengthen the open internet in the process."

**<u>Second Quarter 2025 Financial Highlights:</u>**

The following table summarizes the Company's unaudited consolidated financial results for the three and six months ended June 30, 2025 and 2024 ($ in millions, except per share amounts):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| **GAAP Results** |  |  |  |  |
| Revenue | $694 | $585 | $1310 | $1076 |
| Increase in revenue year over year | 19% | 26% | 22% | 27% |
| Net income | $90 | $85 | $141 | $117 |
| Net income margin | 13% | 15% | 11% | 11% |
| GAAP diluted earnings per share | $0.18 | $0.17 | $0.28 | $0.23 |
| **Non-GAAP Results** |  |  |  |  |
| Adjusted EBITDA | $271 | $242 | $479 | $404 |
| Adjusted EBITDA margin | 39% | 41% | 37% | 38% |
| Non-GAAP net income | $203 | $197 | $368 | $328 |
| Non-GAAP diluted earnings per share | $0.41 | $0.39 | $0.74 | $0.66 |

---

**<u>Second Quarter and Recent Business Highlights:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Strong Customer Retention:** Customer retention remained over 95% during the second quarter, as it has for the past 11 consecutive years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Alex Kayyal joins The Trade Desk as Chief Financial Officer**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Appointed CFO of The Trade Desk, effective August 21, bringing more than two decades of experience as an investor, operator, and board member for leading global technology companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Longstanding relationship with The Trade Desk as an early investor since 2014 and Board member since February 2025; will remain on the Board of Directors while serving as CFO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Most recently Partner at Lightspeed Venture Partners; previously spent nearly a decade at Salesforce, including as SVP and Managing Partner of Salesforce Ventures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Omar Tawakol Appointed to Board of Directors**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Joins The Trade Desk's Board of Directors, bringing a track record of breakthrough innovation at the intersection of advertising, data, and AI.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ A proven entrepreneur and technologist, Omar founded BlueKai (acquired by Oracle) and most recently founded Rembrand, a pioneer in creative AI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Brings deep expertise at the intersection of data, AI, and advertising, with a track record of building and scaling transformative platforms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ AppsFlyer integrated UID2 to power independent, privacy-first measurement and audience activation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Bell Media, a leading media and entertainment company in Canada, integrated UID2 to provide advertisers with greater addressability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Snowflake integrated EUID to enrich first-party data and improve addressability on the open internet.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• 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 maximize value for everyone involved. Recent partnerships and pledges of integration and support include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Freestar integrated with OpenPath and within six months saw 3x higher inventory fill rate and 27% higher programmatic revenue from The Trade Desk.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ HOY, a leading media platform in Hong Kong, announced its implementation of OpenPath and UID2 for its CTV inventory.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **New Innovations and Partnerships:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ OpenSincera, a new application that delivers greater visibility into advertising performance and health of the digital advertising supply chain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Deal Desk, a revolutionary approach to understanding and managing digital advertising deal performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Connector App on Snowflake, a native app for retail conversion data.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Generative AI creative partnership integrations with Rembrand, Nova, Bunny Studio, and Spaceback.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Instacart integrated its grocery selection with The Trade Desk platform, enabling advertisers and agencies to build first-party custom audiences based on specific product criteria.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Visa announced a new data partnership with The Trade Desk in Australia and New Zealand to empower marketers to optimize campaigns with greater precision and relevance through advanced targeting capabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ EDO announced integration of its Convergent TV measurement with The Trade Desk to bring a new CTV measurement approach to programmatic media buying.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ NIQ announced global data collaboration with The Trade Desk to enhance audience targeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Zepto, a delivery service company in India, partnered with The Trade Desk to empower brands to leverage rich commerce data for enhanced targeting and real-time measurement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Anoki announced plans to bring streamlined FAST channel capabilities to Ventura TV OS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Share Repurchases:** The Company used $261 million of cash to repurchase its Class A common stock in the second quarter of 2025. As of June 30, 2025, the Company had $375 million available and authorized for repurchases.

**<u>Financial Guidance:</u>**

Third Quarter 2025 outlook summary:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Revenue at least $717 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted EBITDA of approximately $277 million

The Company has 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 included in the calculation of this non-GAAP measure; in particular, the measures and effects of our stock-based compensation expense

------

that are directly impacted by unpredictable fluctuations in our share price. The Company expects the variability of the above charges could have a significant and potentially unpredictable impact on our future U.S. GAAP financial results.

**<u>Use of Non-GAAP Financial Information</u>**

Included within this press release are the non-GAAP financial measures of Adjusted EBITDA, Adjusted EBITDA margin, Non-GAAP net income and Non-GAAP diluted earnings per share ("EPS") that supplement the Condensed Consolidated Statements of Operations of the Company prepared under generally accepted accounting principles ("GAAP"). Adjusted EBITDA is net income before depreciation and amortization expense; stock-based compensation expense; interest income, net; and provision for income taxes. Adjusted EBITDA margin is Adjusted EBITDA divided by revenue, and Adjusted EBITDA margin's closest corresponding U.S. GAAP measure is net income margin, which is GAAP net income divided by revenue. 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.

**<u>Second Quarter 2025 Financial Results Webcast and Conference Call Details</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **When:** August 7, 2025 at 2:00 P.M. Pacific Time (5:00 P.M. Eastern Time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **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 "760543" after dialing in.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **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: 52725). Outside the United States, please dial 1-919-882-2331 (replay code: 52725). The audio replay will be available via telephone until August 14, 2025.

The Trade Desk, Inc. uses its Investor Relations website (http://investors.thetradedesk.com/), its X feed (@TheTradeDesk), LinkedIn page (https://www.linkedin.com/company/the-trade-desk/), Facebook page (https://www.facebook.com/TheTradeDesk/) and Jeff Green's 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<sup>™</sup> 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, X, LinkedIn and YouTube.

**Forward-Looking Statements**

This press release 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 industry and market trends, the Company's growth and 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

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ability to maintain and grow its client base and spend through its platform and related offerings, 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<br>June 30,** | **Three Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Revenue | $694039 | $584550 | $1310060 | $1075803 |
| Operating expenses <sup>(1)</sup>: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Platform operations | 150980 | 110459 | 293819 | 214089 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing | 161131 | 133867 | 313874 | 255592 |
| &nbsp;&nbsp;&nbsp;&nbsp;Technology and development | 134251 | 110035 | 266653 | 217721 |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 130900 | 135469 | 264485 | 265024 |
| Total operating expenses | 577262 | 489830 | 1138831 | 952426 |
| Income from operations | 116777 | 94720 | 171229 | 123377 |
| Other expense (income): |  |  |  |  |
| Total other income, net | (16424) | (17772) | (37741) | (35148) |
| Income before income taxes | 133201 | 112492 | 208970 | 158525 |
| Provision for income taxes | 43072 | 27463 | 68163 | 41836 |
| Net income | $90129 | $85029 | $140807 | $116689 |
| Earnings per share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $0.18 | $0.17 | $0.29 | $0.24 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $0.18 | $0.17 | $0.28 | $0.23 |
| Weighted-average shares outstanding: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 490631 | 489353 | 492767 | 488952 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 495776 | 500040 | 499340 | 499117 |

---

___________________________

<sup>(1)</sup> Includes stock-based compensation expense as follows:

**THE TRADE DESK, INC.**

**STOCK-BASED COMPENSATION EXPENSE**

**(Amounts in thousands)**

**(Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Platform operations | $9083 | $7272 | $18300 | $12827 |
| Sales and marketing | 30368 | 25068 | 59304 | 45360 |
| Technology and development | 42800 | 32509 | 83781 | 60483 |
| General and administrative <sup>(1)</sup> | 46634 | 61491 | 95753 | 118290 |
| Total | $128885 | $126340 | $257138 | $236960 |

---

___________________________

<sup>(1)</sup> Includes stock-based compensation expense related to a long-term CEO performance grant of $19 million and $36 million for the three months ended June 30, 2025 and 2024, respectively, as well as $43 million and $71 million for the six months ended June 30, 2025 and 2024, respectively.

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**THE TRADE DESK, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(Amounts in thousands)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
| | **As of June 30,<br>2025** | **As of December 31,<br>2024** |
| **ASSETS** | | |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $896387 | $1369463 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term investments, net | 790874 | 552026 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 3254908 | 3330343 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 111546 | 84626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 5053715 | 5336458 |
| Property and equipment, net | 309975 | 209332 |
| Operating lease assets | 269309 | 263761 |
| Deferred income taxes | 228948 | 230214 |
| Other assets, non-current | 95862 | 72186 |
| Total assets | $5957809 | $6111951 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $2724093 | $2631213 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | 152477 | 177760 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | 72414 | 64492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 2948984 | 2873465 |
| Operating lease liabilities, non-current | 271135 | 247723 |
| Other liabilities, non-current | 41857 | 41618 |
| Total liabilities | 3261976 | 3162806 |
| Stockholders' equity: |  |  |
| Preferred stock |  |  |
| Common stock |  |  |
| Additional paid-in capital | 2858189 | 2594896 |
| Retained earnings (accumulated deficit) | (162356) | 354249 |
| Total stockholders' equity | 2695833 | 2949145 |
| Total liabilities and stockholders' equity | $5957809 | $6111951 |

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**THE TRADE DESK, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(Amounts in thousands)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Six Months Ended June 30,** | **Six Months Ended June 30,** |
| | **2025** | **2024** |
| OPERATING ACTIVITIES: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $140807 | $116689 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 50689 | 42624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 257138 | 236960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noncash lease expense | 34253 | 26460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for expected credit losses on accounts receivable | 1177 | 133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | (13899) | (4117) |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | 80033 | (49321) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current and non-current assets | (18281) | (52064) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (19839) | (13247) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current and non-current liabilities | (24081) | (9989) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | (31551) | (27397) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | 456446 | 266731 |
| INVESTING ACTIVITIES: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of investments | (577834) | (317969) |
| &nbsp;&nbsp;&nbsp;&nbsp;Maturities of investments | 346120 | 314598 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment | (104352) | (29339) |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized software development costs | (5739) | (4424) |
| &nbsp;&nbsp;&nbsp;&nbsp;Business acquisition | (4350) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities | (346155) | (37134) |
| FINANCING ACTIVITIES: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repurchases of Class A common stock | (647093) | (125280) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from exercise of stock options | 14085 | 38164 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from employee stock purchase plan | 32450 | 30122 |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxes paid relating to net settlement of restricted stock awards | (57048) | (58369) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from short-term borrowings | 74239 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities | (583367) | (115363) |
| Increase (decrease) in cash and cash equivalents | (473076) | 114234 |
| Cash and cash equivalents—Beginning of period | 1369463 | 895129 |
| Cash and cash equivalents—End of period | $896387 | $1009363 |

---

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**Non-GAAP Financial Metrics**

(Amounts in thousands, except per share amounts)

(Unaudited)

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<br>June 30,** | **Three Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Net income | $90129 | $85029 | $140807 | $116689 |
| Add back (deduct): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization expense | 26704 | 20882 | 50689 | 42624 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | 128885 | 126340 | 257138 | 236960 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income, net | (18035) | (17817) | (38167) | (34478) |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | 43072 | 27463 | 68163 | 41836 |
| Adjusted EBITDA | $270755 | $241897 | $478630 | $403631 |
|  | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** | **Six Months Ended<br>June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| GAAP net income | $90129 | $85029 | $140807 | $116689 |
| Add back (deduct): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | 128885 | 126340 | 257138 | 236960 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustment for income taxes | (15940) | (13886) | (29878) | (25298) |
| Non-GAAP net income | $203074 | $197483 | $368067 | $328351 |
| GAAP diluted earnings per share | $0.18 | $0.17 | $0.28 | $0.23 |
| GAAP weighted-average shares outstanding—diluted | 495776 | 500040 | 499340 | 499117 |
| Non-GAAP diluted earnings per share | $0.41 | $0.39 | $0.74 | $0.66 |
| Non-GAAP weighted-average shares used in computing Non-GAAP earnings per share, diluted | 495776 | 500040 | 499340 | 499117 |

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**Contacts**

**Investors**

Jake Graves

Senior Manager, Investor Relations

The Trade Desk

ir@thetradedesk.com

**Media**

Melinda Zurich

VP, Communications

The Trade Desk

melinda.zurich@thetradedesk.com

## Exhibit 99.2

**Exhibit 99.2**

**The Trade Desk Appoints Omar Tawakol to Board of Directors**

**VENTURA, Calif. – August 7, 2025** – Global advertising technology leader The Trade Desk (Nasdaq: TTD) today announced the appointment of Omar Tawakol to its board of directors. A seasoned technology executive, Tawakol brings more than two decades of experience at the forefront of advertising technology, data platforms, and artificial intelligence.

"Omar is one of the most influential forces in ad tech and AI, and I'm thrilled to welcome him to our board of directors," said Jeff Green, CEO and Co-Founder, The Trade Desk. "From founding BlueKai and helping define the Data Management Platform (DMP) category, to building Voicea and Rembrand at the intersection of AI and advertising, Omar has been one of the true innovators in our industry. His deep technical expertise and product instincts, combined with a track record of building successful companies, make him an invaluable addition to our board as we continue to push the boundaries of programmatic advertising."

Tawakol is currently the CEO and Founder of Rembrand, a creative AI platform that enables brands to insert virtual product placements into video content with remarkable precision and scale. Prior to Rembrand, he founded Voicea, a voice collaboration platform that used AI to generate meeting summaries and insights. Voicea was acquired by Cisco in 2019, where Tawakol went on to lead product-led growth for the Webex division.

Earlier in his career, Tawakol founded BlueKai, a data management platform that was instrumental in helping marketers activate audience data across digital channels. Oracle acquired BlueKai in 2014, and Tawakol subsequently served as SVP and GM of Oracle Data Cloud, where he oversaw data and measurement solutions used by many of the world's largest brands.

"I've long admired what Jeff and the team at The Trade Desk have built, combining purpose, performance, and product excellence in a way that's reshaping the digital advertising industry," said Tawakol. "As the next frontier of AI and advertising continues to take shape, I look forward to contributing my experience and supporting The Trade Desk's mission as it continues to scale globally."

Tawakol currently also serves on the board of directors at LiveRamp (NYSE: RAMP), a leader in data connectivity and identity infrastructure.

He holds a B.S. in Engineering from the Massachusetts Institute of Technology and two master's degrees from Stanford University, one in Engineering and another in Computer Science.

**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.

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**Media Contact**

Melinda Zurich

The Trade Desk

melinda.zurich@thetradedesk.com

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