Filing Flows › Trade Desk (TTD) › Q2 2025
Trade Desk (TTD) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Trade Desk (TTD) reported revenue of $694M for the second quarter 2025 (Q2 2025), +19% from a year earlier and +13% from the quarter before. Operating margin was 16.8%, net earnings $90.1M (13.0% of revenue).
Trade Desk, Q2 2025: revenue $694M (+19% year over year), operating margin 16.8%, net earnings $90.1M, operating cash flow $165M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $694M | +13% | +19% |
| Operating profit | $117M | +114% | +23% |
| Net earnings | $90.1M | +78% | +6% |
| Operating cash flow | $165M | -43% | +103% |
| Free cash flow | $120M | -48% | +103% |
What changed
Revenue was $694.0M in Q2 2025, up 19% year over year and up 13% from the previous quarter.
Operating profit was $116.8M, a 16.8% margin (up 0.6 points year over year). Of the extra revenue versus a year earlier, 20% reached operating profit, above the 16% margin then. Total costs grew 18% against revenue growth of 19%. The fastest-growing cost line was Cost of revenue (+37%). Net earnings were $90.1M, up 6% year over year. The effective tax rate was 32.3%.
Operating cash flow was $165.0M (up 103% year over year), 183% of net earnings. Non-cash charges added back $26.7M of depreciation and amortization and $128.9M of share-based compensation. Working capital and other items used $80.7M. Capital expenditures of $45.2M left free cash flow of $119.8M.
Questions
What was Trade Desk's revenue in the second quarter 2025?
Trade Desk (TTD) reported revenue of $694M for the second quarter 2025 (Q2 2025), +19% from a year earlier and +13% from the quarter before.
Was Trade Desk profitable in the second quarter 2025?
Operating profit was $117M (16.8% of revenue) and net earnings $90.1M.
Source: Trade Desk 10-Q on SEC EDGAR.