Q4 25 EPS
$0.59
BEAT +73.58%
Est. $0.34
Q4 25 Revenue
$846.8M
vs S&P Since Q4 25
+5.6%
BEATING MARKET
TTD +10.2% vs S&P +4.5%
Full Year 2025 Results
FY 25 EPS
$1.77
BEAT +0.52%
Est. $1.76
FY 25 Revenue
$2.90B
BEAT +0.25%
Est. $2.89B
Market Reaction
Did TTD Beat Earnings? Q4 2025 Results
The Trade Desk delivered a standout Q4 2025, posting earnings per share of $0.59 against a consensus estimate of $0.34, a 73.58% beat that signaled the programmatic advertising platform's ability to drive profitability even as revenue growth moderate… Read more The Trade Desk delivered a standout Q4 2025, posting earnings per share of $0.59 against a consensus estimate of $0.34, a 73.58% beat that signaled the programmatic advertising platform's ability to drive profitability even as revenue growth moderated. Revenue came in at $846.79 million, edging past the $839.55 million estimate by 0.86% and representing 14.3% year-over-year growth, while adjusted EBITDA reached $400.34 million at a 47% margin. A key driver behind the quarter's strength was the company's Kokai platform momentum, expanded retail data integrations, and customer retention holding above 95% for the twelfth consecutive year. The company also deployed an aggressive $423 million in share repurchases during Q4 alone, a capital return posture that helped reshape the earnings-per-share picture. Still, for investors watching the company's recovery path, Q1 2026 guidance calling for at least $678 million in revenue and roughly $195 million in adjusted EBITDA suggests the growth story remains intact but measured.
Key Takeaways
- • 14% year-over-year Q4 revenue growth and 18% full-year revenue growth
- • Gross spend on platform reached $13.4 billion in 2025
- • Customer retention above 95% for the twelfth consecutive year
- • 47% Adjusted EBITDA margin maintained in Q4 2025
- • Growing advertiser demand for measurable outcomes and data-driven decisioning
TTD Forward Guidance & Outlook
For Q1 2026, The Trade Desk expects revenue of at least $678 million and Adjusted EBITDA of approximately $195 million. The company did not provide GAAP net income guidance due to the variability and complexity of stock-based compensation expense.
TTD YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
“The Trade Desk delivered $2.9 billion in revenue in 2025 while continuing to generate significant profitability and cash flow. We executed against a backdrop of macro uncertainty while making some of the most meaningful upgrades in our company's history. As advertisers increasingly prioritize measurable outcomes and data-driven decisioning over cheap reach, our role as an objective platform becomes even more important. With continued innovation across Kokai, retail data, and the supply chain, we are well positioned to capture greater share of the global advertising market in 2026 and beyond.”
— Jeff Green, Q4 2025 Earnings Press Release
TTD Earnings Trends
TTD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TTD EPS Trend
Earnings per share: estimate vs actual
TTD Revenue Trend
Quarterly revenue: estimate vs actual
TTD Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $0.34 | $0.59 | +73.58% | $846.8M | — |
| FY Full Year | $1.76 | $1.77 | +0.52% | $2.90B | +0.25% |
| Q3 25 BEAT | $0.44 | $0.45 | +1.86% | $739.4M | +2.79% |
| Q2 25 MISS | $0.41 | $0.41 | -0.92% | $694.0M | +1.17% |
| Q1 25 BEAT | $0.25 | $0.33 | +33.23% | $616.0M | +7.08% |
| Q4 24 BEAT FY | $0.57 | $0.59 | +3.60% | $741.0M | — |
| FY Full Year | — | $1.66 | — | $2.44B | — |
| Q2 23 BEAT | $0.26 | $0.28 | +7.69% | $464.3M | — |