The Trade Desk Inc. - 2025年季度报告

FORM10-Q (Mark One) For the quarterly period endedMarch31, 2025OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 42 N. Chestnut StreetVentura,California93001 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and As of April30, 2025, the registrant had448,135,991shares of Class A common stock and43,302,678shares of Class B common stockoutstanding. THE TRADE DESK, INC.QUARTERLY REPORT ON FORM 10-Q INDEX Part I.FINANCIAL INFORMATION Item 1.Condensed Consolidated Financial Statements (Unaudited) 33Condensed Consolidated Balance Sheets as ofMarch 31, 2025and December 31, 20243Condensed Consolidated Statements of Operations for the ThreeMonths EndedMarch31, 2025and 20244Condensed Consolidated Statements of Stockholders’ Equity for the ThreeMonths EndedMarch31, 2025and 20245 THE TRADE DESK, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share amounts) THE TRADE DESK, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Note 1—Nature of Operations The Trade Desk, Inc. (the “Company”) is a global technology company that empowers buyers of advertising. Through the Company’sself-service, cloud-based platform, ad buyers can create, manage and optimize more expressive data-driven digital advertising campaigns acrossad formats and channels, including connected television (“CTV”) and other video, display, audio and native, on a multitude of devices, such astelevisions, streaming devices, mobile devices, computers and digital-out-of-home devices. The Company’s platform integrations with major The Company was originally incorporated in November 2009 and is a Nevada corporation. The Company is headquartered in Ventura,California with offices in various cities in North America, Europe, Asia and Australia. Note 2—Basis of Presentation and Summary of Significant Accounting Policies The accompanying condensed consolidated financial statements were prepared in accordance with accounting principles generallyaccepted in the United States of America (“GAAP”) for interim financial information and are unaudited. Certain information and disclosuresnormally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. The condensed There have been no material changes to the Company’s accounting policies from those disclosed in its Annual Report on Form 10-Kfor the year ended December31, 2024, and these unaudited interim condensed consolidated financial statements have been prepared on a basisconsistent with that used to prepare the Company’s audited annual consolidated financial statements for the year ended December31, 2024, and The results of operations for the three months ended March31, 2025 are not necessarily indicative of the results expected for the fullyear ending December31, 2025. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates andassumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the Management regularly evaluates its estimates, primarily those relating to: (1) allowances for credit losses, (2) income taxes, includingthe realizability of deferred tax assets and the recognition of valuation allowances, (3) assumptions used in the option pricing models todetermine the fair value of stock-based compensation, (4) operating lease assets and liabilities, including the Company’s incremental borrowingrate and terms and provisions of each lease, (5) the recognition and disclosure of contingent liabilities, (6) the useful lives of long-lived assets As of March31, 2025, the impacts to the Company’s business due to geopolitical developments and macroeconomic factors such aschanges in interest rates, foreign currency exchange rates, trade policies and practices, inflation, supply chain disruptions and economic growthcontinue to evolve. As a result, many of the Company’s estimates and assumptions, including the allowance for credit losses, consider Recent Accounting Pronouncements Not Yet Adopted In December 202