Filing Flows › Trade Desk (TTD) › Q1 2025
Trade Desk (TTD) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Trade Desk (TTD) reported revenue of $616M for the first quarter 2025 (Q1 2025), +25% from a year earlier and -17% from the quarter before. Operating margin was 8.8%, net earnings $50.7M (8.2% of revenue).
Trade Desk, Q1 2025: revenue $616M (+25% year over year), operating margin 8.8%, net earnings $50.7M, operating cash flow $291M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $616M | -17% | +25% |
| Operating profit | $54.5M | -72% | +90% |
| Net earnings | $50.7M | -72% | +60% |
| Operating cash flow | $291M | +46% | +57% |
| Free cash flow | $232M | +30% | +30% |
What changed
Revenue was $616.0M in Q1 2025, up 25% year over year and down 17% from the previous quarter.
Operating profit was $54.5M, a 8.8% margin (up 3.0 points year over year). Of the extra revenue versus a year earlier, 21% reached operating profit, above the 6% margin then. Total costs grew 21% against revenue growth of 25%. The fastest-growing cost line was Cost of revenue (+38%). Net earnings were $50.7M, up 60% year over year. The effective tax rate was 33.1%. Non-operating items added $21.3M, 28% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $291.4M (up 57% year over year), 575% of net earnings. Non-cash charges added back $24.0M of depreciation and amortization and $128.3M of share-based compensation. Working capital and other items added $88.5M. Capital expenditures of $59.1M left free cash flow of $232.3M.
Questions
What was Trade Desk's revenue in the first quarter 2025?
Trade Desk (TTD) reported revenue of $616M for the first quarter 2025 (Q1 2025), +25% from a year earlier and -17% from the quarter before.
Was Trade Desk profitable in the first quarter 2025?
Operating profit was $54.5M (8.8% of revenue) and net earnings $50.7M.
Source: Trade Desk 10-Q on SEC EDGAR.