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Trade Desk

TTD Q4 2024 Earnings

Reported Feb 12, 2025 at 4:13 PM ET · SEC Source

Q4 24 EPS

$0.59

BEAT +3.60%

Est. $0.57

Q4 24 Revenue

$741.0M

vs S&P Since Q4 24

-91.0%

TRAILING MARKET

TTD -72.8% vs S&P +18.2%

Full Year 2024 Results

FY 24 EPS

$1.66

FY 24 Revenue

$2.44B

Market Reaction

Did TTD Beat Earnings? Q4 2024 Results

The Trade Desk delivered a mixed but broadly solid Q4 2024, posting non-GAAP diluted EPS of $0.59 against a consensus estimate of $0.57, a beat of 3.60%, while revenue of $741.01 million grew 22.3% year over year. Yet the headline numbers told only p… Read more The Trade Desk delivered a mixed but broadly solid Q4 2024, posting non-GAAP diluted EPS of $0.59 against a consensus estimate of $0.57, a beat of 3.60%, while revenue of $741.01 million grew 22.3% year over year. Yet the headline numbers told only part of the story: CEO Jeff Green openly acknowledged that the quarter fell short of the company's own internal expectations, a candid admission tied in part to a slower-than-anticipated rollout of the Kokai platform upgrade, which rattled investor confidence and sent shares sharply lower. GAAP net income nearly doubled to $182.23 million from $97.32 million a year ago, and the company processed a record $12.00 billion in gross spend across fiscal 2024, with customer retention exceeding 95% for the eleventh consecutive year. Securities class action lawsuits have since emerged alleging misleading disclosures around Kokai's performance. Looking ahead, management guided Q1 2025 revenue to at least $575.00 million, with adjusted EBITDA of approximately $145.00 million, as the company leans into CTV, retail media, and its newly unveiled Ventura streaming OS.

Key Takeaways

  • • 22% year-over-year revenue growth in Q4 2024
  • • 26% accelerated annual revenue growth in fiscal year 2024
  • • $12 billion gross spend on platform in 2024
  • • Customer retention over 95% for eleventh consecutive year
  • • Adjusted EBITDA margin of 47% in Q4 2024
  • • Q4 GAAP net income nearly doubled year over year to $182 million
24/7 Wall St

TTD YoY Financials

Q4 2024 vs Q4 2023, source: SEC Filings

“The Trade Desk once again outpaced nearly every segment of digital advertising in 2024, delivering $2.4 billion of revenue – marking accelerated growth of 26% year over year – and a record $12 billion of spend on our platform. At the same time, we achieved significant profitability and cash flow. While we are proud of these accomplishments, we are disappointed that we fell short of our own expectations in the fourth quarter.”

— Jeff Green, Q4 2024 Earnings Press Release

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