What is the primary revenue source for The Trade Desk (TTD)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze TTD's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out The Trade Desk's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How The Trade Desk Makes Money: TTD Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Watch

Revenue grew while operating profit fell, so growth did not translate into better earnings.

Operating margin declined by 1.09 percentage points year over year.

Revenue: USD 1.40B
Selling, general and administrative: USD 585.92M
Cost of revenue: USD 366.30M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Operating marginIncome from operations · operating_income / revenue * 100
RevenueRevenue · RevenueFromContractWithCustomerExcludingAssessedTax
Cost of revenuePlatform operations · CostOfGoodsAndServicesSold
Selling, general and administrativesum(SellingAndMarketingExpense, GeneralAndAdministrativeExpense)

The filing lacks sufficient revenue breakdown data to identify specific revenue sources.

Assets

Where is the money tied up, and how is the company financed?

Neutral

Liabilities and shareholder equity jointly fund the asset base, with a broadly stable mix.

Accounts receivable: USD 3.20B
Cash and cash equivalents: USD 1.12B
Property, plant and equipment: USD 455.15M
Total liabilities: USD 3.19B
Shareholder equity: USD 2.57B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Property, plant and equipmentProperty and equipment, net · PropertyPlantAndEquipmentNet
Shareholder equityTotal stockholders’ equity · StockholdersEquity
Total liabilitiesTotal liabilities · Liabilities
Accounts receivableAccounts receivable, net of allowance for credit losses of $16,097 and $12,199 as of june 30, 2026 and december 31, 2025, respectively · AccountsReceivableNetCurrent
Cash and cash equivalentsCash and cash equivalents · CashAndCashEquivalentsAtCarryingValue

Cash

Did accounting profit ultimately turn into cash?

Steady

Operating cash flow covers accounting profit, showing good cash conversion.

Operating cash flow equals 522.46% of net income.

Free cash flow remains positive after capital expenditure.

Net income: USD 104.39M
Operating cash flow: USD 545.40M
Cash conversion: 522.46%
Free cash flow: USD 419.43M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeNet income · NetIncomeLoss
Free cash flowcfo - capex
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Shareholders

Did the money earned actually make its way back to shareholders?

Steady

Dividends and net buybacks are covered by free cash flow, so cash genuinely reached shareholders.

Share repurchases: USD 241.33M
Stock issuance proceeds: USD 4.71M
Net shareholder return: USD 236.63M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesPayments for repurchase of common stock · PaymentsForRepurchaseOfCommonStock · abs(node_value)
Stock issuance proceedsProceeds from exercise of stock options · ProceedsFromStockOptionsExercised · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

Please select a report to view

Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?