Trade Desk, Inc.

Company facts

Industry

Services-Computer Programming, Data Processing, Etc.

Headquarters

Ventura, California

Most recent report

8-K, filed Sep 4, 2026

Incorporated

Nevada

Filings on record

1,001+ filings

On EDGAR

CIK 1671933

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 4 of 11 sections worth reading, with 0 positive, 13 notable, and 4 negative flags.

• Financial Statements (Item 1)

  Core financials with net income decline, accounting boost, and major litigation updates.
  Notable

  • Extended data center equipment life from 3 to 4 years, cutting depreciation $4.6M and lifting net income $3.1M in Q2.
  • New $750M revolver (up from $450M) matures April 2031; no balance drawn, $745M available.
  • Repurchased 10M shares for $233M in H1 2026; $269M remaining on $500M authorization.
  Negative

  • Federal securities class action survived motion to dismiss on March 17, 2026; trial set for May 2028.

• Management's Discussion (Item 2)

  Revenue growth slowed sharply, net income fell 29%; new credit facility; accounting changes.
  Notable

  • CEO Performance Option fully recognized by end of Q1 2026; G&A stock-based comp fell $20M in Q2.
  • Credit facility upsized to $750M revolving, matures 2031, with option to add $750M more.
  • $37M in California R&D credit deferred tax assets; no valuation allowance despite new credit limits.
  • Changed data center equipment useful life from 3 to 4 years, cutting 2026 depreciation ~$14M.

• Market Risk (Item 3)

  Quantified interest-rate and FX risk; no revolving debt outstanding.
  Notable

  • No debt on the variable-rate Revolving Facility as of June 30, 2026, limiting interest-rate risk.
  • A 1% interest-rate change would shift investment income by $4 million annually, down from $5 million.
  • FX exposure: a 10% adverse move would cause a $48 million loss, up from $45 million as of March 31, 2026.
  • Forward contract gains/losses in the three and six months ended June 30, 2026, were not material.

• Risk Factors (Item 1A)

  Company-specific risks: customer concentration, insider control, litigation, new tax laws.
  Notable

  • AI initiatives will raise infrastructure spend and platform operations expense.
  • U.S. One Big Beautiful Bill Act (July 2025) and California SB 122 (June 2026) may raise taxes.
  Negative

  • Two holding companies each >10% of gross billings in 2025, top-line concentration risk.
  • Securities class action filed in Feb/March 2025 after stock drop, ongoing litigation risk.
  • Class B holders hold 50.3% voting power (June 30, 2026), limiting minority influence.

What changed: Jun 2026 vs. Mar 2026

About 6% of TTD's Jun 2026 10-Q is new information. 27 paragraphs were added, 114 changed, and 25 removed. Below are the most important lines SECSift identified.

• Item 2 53
• Item 1 39
• Item 1A 18
• Item 3 3
• Item 4 3
• Item 6 2
• Item 5 1