Filing Flows › Trade Desk (TTD) › Q3 2026 › vs Q3 2025
Trade Desk (TTD) Q3 2026 vs Q3 2025 (year over year)
Trade Desk's revenue fell $3.5M (-0.5%) from $739M in Q3 2025 to $736M in Q3 2026. Operating margin 12.6% against 21.8% (-9.2 pts).
Trade Desk, Q3 2026: revenue $736M (-0.5% year over year), operating margin 12.6%, net earnings $38.0M, operating cash flow $258M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 12.6% | 21.8% | -9.2 pts |
| Net margin | 5.2% | 15.6% | -10.5 pts |
| Free cash flow margin | 21.4% | 21.4% | -0.0 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $736M | $739M | −$3.5M | -0.5% |
| Other income, net | $13.8M | $18.3M | −$4.5M | -24% |
| Operating profit | $92.6M | $161M | −$68.6M | -43% |
| Costs & expenses | $643M | $578M | $65.1M | +11% |
| Pre-tax earnings | $106M | $180M | −$73.1M | -41% |
| Cost of revenue | $200M | $162M | $38.0M | +23% |
| Research & development | $147M | $128M | $19.4M | +15% |
| Sales & marketing | $171M | $157M | $14.0M | +9% |
| General & admin | $125M | $131M | −$6.2M | -5% |
| Net earnings | $38.0M | $116M | −$77.5M | -67% |
| Income tax | $68.4M | $64.0M | $4.4M | +7% |
| Depreciation & amortization | $32.9M | $33.1M | −$195K | -0.6% |
| Share-based compensation | $95.1M | $121M | −$26.2M | -22% |
| Working capital & other | $92.2M | −$45.3M | $137M | — |
| Operating cash flow | $258M | $225M | $33.6M | +15% |
| Free cash flow (OCF − capex) | $157M | $158M | −$860K | -0.5% |
| Capital expenditures | $101M | $66.3M | $34.4M | +52% |
Questions
How much did Trade Desk's revenue grow year over year in Q3 2026?
Trade Desk's revenue fell $3.5M (-0.5%) from $739M in Q3 2025 to $736M in Q3 2026. Operating margin 12.6% against 21.8% (-9.2 pts).