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Other financials

Income statement

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Revenue$715.1M+3.0%
Gross profit$530.7M-2.3%
Operating income$101.6M-13.0%
Net income$64.4M-28.6%
EPS (diluted)$0.14-22.2%

Balance sheet

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Cash & equivalents$1.1B+25.3%
Total debt$434.1M+26.4%
Total equity$2.6B-4.5%
Total assets$5.8B-3.2%

Cash flow

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Operating cash flow$153.6M-6.9%
CapEx$13.2M-70.8%
Free cash flow$140.4M+17.2%

Valuation

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Market cap$8.91B-79.6%
Enterprise value$8.22B-81.0%
P/E21.9×-83.1×
P/S-13.4×

Profitability

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Gross margin76.9%-2.5pp
Operating margin19.6%+1.9pp
Net margin13.6%-2.0pp
FCF margin28.9%+0.6pp

Returns & leverage

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Return on equity15.4%-0.9pp
Debt / equity0.2×0.0×
Current ratio1.7×0.0×

Where this comes from

Reported directly by The Trade Desk in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The source filing: The Trade Desk’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 5:04 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001671933-26-000086
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Operating expenses:
Platform operations184,333150,980366,303293,819
Sales and marketing174,404161,131346,583313,874
Technology and development140,742134,251283,462266,653
General and administrative114,001130,900239,342264,485
Total operating expenses613,480577,2621,235,6901,138,831
Income from operations101,577116,777168,224171,229
Other expense (income):

Item 1. Condensed Consolidated Financial Statements (Unaudited)

FAQ

What is The Trade Desk's R&D?
The Trade Desk (TTD) reported R&D of $140.74M in Q2 2026.
How has The Trade Desk's R&D changed year-over-year?
The Trade Desk's R&D increased by 4.8% year-over-year, from $134.25M to $140.74M.
What is the long-term trend for The Trade Desk's R&D?
Over 4 years (2021 to 2025), The Trade Desk's R&D has grown at a 23.4% compound annual growth rate (CAGR), from $226.14M to $525.14M.
What does R&D mean?
Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

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