The Trade Desk Reports Second Quarter 2026 Financial Results
Trade Desk, Inc. (TTD) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 The Trade Desk Reports Second Quarter 2026 Financial Results LOS ANGELES--(BUSINESS WIRE)--August 6, 2026--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 announ
How this was made
The 30-second read
Why it matters
Traders can update models using the disclosed Q2 GAAP and non-GAAP metrics and the explicit Q3 revenue and adjusted EBITDA guidance, while accounting for the absence of GAAP net income guidance.
Market read
Fresh earnings and guidance numbers plus a buyback authorization update make this a direct input to near-term positioning in TTD and ad-tech sentiment.
What to watch
The company explicitly does not provide GAAP net income outlook due to stock-based compensation variability, which can complicate earnings-quality comparisons and may lead to wider dispersion in investor forecasts.
The Trade Desk Reports Second Quarter 2026 Financial Results
Second-quarter revenue increased 3% year over year and customer retention remained over 95%, while GAAP and non-GAAP profitability metrics declined from the prior-year period. Third-quarter guidance calls for revenue of at least $650 million and Adjusted EBITDA of approximately $160 million.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Revenue, three months ended June 30, 2026GAAP | $715M | – | 3% |
| Net income, three months ended June 30, 2026GAAP | $64M | – | – |
| Net income margin, three months ended June 30, 2026GAAP | 9% | – | – |
| Diluted earnings per share, three months ended June 30, 2026GAAP | $0.14 | – | – |
| Adjusted EBITDA, three months ended June 30, 2026non-GAAP | $241M | – | – |
| Adjusted EBITDA margin, three months ended June 30, 2026non-GAAP | 34% | – | – |
| Non-GAAP net income, three months ended June 30, 2026non-GAAP | $158M | – | – |
| Non-GAAP diluted earnings per share, three months ended June 30, 2026non-GAAP | $0.34 | – | – |
| Revenue, six months ended June 30, 2026GAAP | $1.40B | – | 7% |
| Net income, six months ended June 30, 2026GAAP | $104M | – | – |
| Net income margin, six months ended June 30, 2026GAAP | 7% | – | – |
| Diluted earnings per share, six months ended June 30, 2026GAAP | $0.22 | – | – |
| Adjusted EBITDA, six months ended June 30, 2026non-GAAP | $447M | – | – |
| Adjusted EBITDA margin, six months ended June 30, 2026non-GAAP | 32% | – | – |
| Non-GAAP net income, six months ended June 30, 2026non-GAAP | $292M | – | – |
| Non-GAAP diluted earnings per share, six months ended June 30, 2026non-GAAP | $0.62 | – | – |
Third Quarter 2026 outlook
- Revenueat least $650 million
- NoteAdjusted EBITDA of approximately $160 million
Capital returns
- The Company used approximately $78 million of cash to repurchase its Class A common stock in the second quarter of 2026.
- As of June 30, 2026, the Company had $269 million available and authorized for repurchases.
What drove it
- Customer retention remained over 95% during the second quarter, as it has for over a decade.
- Dentsu named The Trade Desk as the first DSP partner for its new end-to-end retail data offering from New Stream Media.
- The Trade Desk expanded its commerce media ecosystem through integrations with Booking.com, Agoda, Kayak, Priceline, Marriott, Uber and United Airlines.
- Databricks named The Trade Desk a launch partner for CustomerLake, connecting first-party data and agentic AI directly to media execution across the open internet.
- Adobe and The Trade Desk forged an integration connecting paid media exposure data directly to first-party profiles in Adobe Real-Time CDP.
- Netflix joined The Trade Desk’s Sellers and Publishers 500+.
- Samsung Ads opened its premium home screen inventory to programmatic buyers, with The Trade Desk among the first platforms granted access.
Concerns
- Revenue increased 3% year over year in the second quarter, compared with 19% in the prior-year second-quarter comparison shown in the financial highlights.
- GAAP net income was $64 million, compared with $90 million in the prior-year period.
- GAAP net income margin was 9%, compared with 13% in the prior-year period.
- Adjusted EBITDA was $241 million, compared with $271 million in the prior-year period, and Adjusted EBITDA margin was 34%, compared with 39%.
- The Company did not provide an outlook for GAAP net income or a reconciliation of Adjusted EBITDA guidance to net income.
What to watch
- Third Quarter 2026 revenue guidance of at least $650 million.
- Third Quarter 2026 Adjusted EBITDA guidance of approximately $160 million.
- Execution actions to strengthen execution, upgrade the platform, and sharpen focus on areas of greatest value.
- Customer retention, which remained over 95% during the second quarter.
- Adoption and commercial impact of commerce media, CustomerLake, Adobe Real-Time CDP, Netflix, and Samsung Ads integrations and partnerships.
Analysis
The Trade Desk reported second-quarter revenue of $715 million, up 3% year over year from $694 million. The growth rate shown in the financial highlights was lower than the 19% year-over-year increase presented for the prior-year second-quarter comparison. For the first six months, revenue was $1,404 million, up 7% year over year from $1,310 million. Customer retention remained over 95% during the second quarter.
Profitability declined from the prior-year quarter. GAAP net income was $64 million, with a 9% net income margin, compared with $90 million and a 13% margin. GAAP diluted earnings per share was $0.14, compared with $0.18. Adjusted EBITDA was $241 million and its margin was 34%, compared with $271 million and 39%, respectively. Non-GAAP net income was $158 million and non-GAAP diluted EPS was $0.34, compared with $203 million and $0.41.
The six-month results also show lower profitability. GAAP net income was $104 million, compared with $141 million, while net income margin was 7%, compared with 11%. Adjusted EBITDA was $447 million, compared with $479 million, and Adjusted EBITDA margin was 32%, compared with 37%. Non-GAAP net income was $292 million and non-GAAP diluted EPS was $0.62, compared with $368 million and $0.74.
The company highlighted additions to its commerce media ecosystem, including integrations with travel, hospitality and mobility partners, as well as CustomerLake and Adobe Real-Time CDP integrations. It also cited expanded connected-TV access through Netflix’s participation in Sellers and Publishers 500+ and Samsung Ads’ premium home screen inventory. Management stated that marketers are navigating a complex environment and that the company is taking action to strengthen execution, upgrade its platform, and sharpen focus.
Capital allocation included approximately $78 million of Class A common-stock repurchases during the second quarter. The company had $269 million available and authorized for repurchases as of June 30, 2026. For the third quarter, management guided to revenue of at least $650 million and Adjusted EBITDA of approximately $160 million. It did not provide GAAP net income guidance or a reconciliation of Adjusted EBITDA guidance to net income because of variability and complexity in the relevant charges, particularly stock-based compensation expense.
Management, verbatim
This quarter did not meet the standard we set for ourselves, but it has reinforced our belief that we are focused on the right opportunities for the future.
Jeff Green, Co-Founder and CEO of The Trade Desk
We have a clear understanding of the factors that impacted our performance, and we are taking decisive action to strengthen our execution, upgrade our platform, and sharpen our focus on the areas where we can create the greatest value.
Jeff Green, Co-Founder and CEO of The Trade Desk
Not in the filing
stated, not guessed- Gross profit and gross margin were not available in the provided filing text.
- Operating income or loss was not available in the provided filing text.
- Operating cash flow was not available in the provided filing text.
- Free cash flow was not available in the provided filing text.
- Cash, cash equivalents, marketable securities, and debt balances were not available in the provided filing text.
- Segment revenue and segment profitability were not reported in the provided filing text.
- Prior-quarter comparisons were not reported for the listed key metrics.
- Third-quarter guidance for gross margin, operating expenses, and tax rate was not provided.
- GAAP net income guidance and a reconciliation of Adjusted EBITDA guidance to GAAP net income were not provided.
- Prior-period outlook was not provided.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
This is an SEC Form 8-K (Item 2.02) with Trade Desk’s Q2 2026 financial results and Q3 2026 outlook.
Ticker impact
Trade Desk reported Q2 2026 results and guided Q3 revenue to at least $650M and adjusted EBITDA to about $160M.
Likely near-term volatility around the Q3 revenue and adjusted EBITDA guide, with traders focusing on the GAAP profitability deterioration versus retention and platform investment signals.
The filing provides fresh, decision-relevant numbers (Q2 GAAP and non-GAAP results plus explicit Q3 outlook) and also notes GAAP net income outlook is not provided, which can affect how investors model earnings quality.
Market effects
Ad tech and open-internet media platforms may see read-through from Trade Desk’s retention resilience and commerce/CTV partnership momentum, but profitability pressure could temper sector multiples.
Primarily US-listed growth/tech sentiment, with potential spillover to ad-tech peers’ earnings expectations.
Partnership mentions (e.g., Netflix, Samsung Ads, Booking.com ecosystem) reinforce global demand for programmatic and CTV measurement, supporting international ad-tech demand narratives.
Counterpoint
Despite GAAP profitability declines, the company’s strong customer retention and continued platform upgrades plus buybacks could indicate the earnings pressure is temporary and non-GAAP operating strength is holding up.
Key entities
- public_companyTrade Desk, Inc.
Provider of a global technology platform for buyers of advertising; reported Q2 2026 results and issued Q3 2026 guidance.
- executiveJeff Green
Co-Founder and CEO, quoted on performance drivers and execution actions.
- executiveNate Olmstead
Appointed Chief Financial Officer (leadership update included in the filing).
