The Trade Desk (TTD) Q2 2024 earnings summary

Executive summary

• Q2 2024 revenue reached $585 million, up 26% year-over-year, with strong growth in CTV, retail media, and identity solutions, and net income rising to $85 million.

• Adjusted EBITDA for Q2 was $242 million (41% margin), with non-GAAP net income of $197 million and diluted EPS of $0.39.

• Growth was driven by CTV, retail media, premium inventory access, and new partnerships with major streaming platforms like Netflix, FOX, and Roku.

• Customer retention remained above 95% for the tenth consecutive year.

• The company maintains a strong cash position and no outstanding debt.

Financial highlights

• Q2 2024 revenue: $585 million (+26% year-over-year); net income: $85 million (+158%); adjusted EBITDA: $242 million (41% margin); non-GAAP EPS: $0.39.

• Six-month revenue: $1.08 billion (+27%); net income: $117 million (+176%).

• Free cash flow for Q2 was $57 million; operating cash flow for six months was $267 million.

• Cash and short-term investments totaled $1.5 billion at quarter-end.

• No share repurchases in Q2; $575 million remains authorized for buybacks.

Outlook and guidance

• Q3 2024 revenue expected to be at least $618 million, with Adjusted EBITDA projected at approximately $248 million.

• CTV, retail media, international expansion, and the Kokai platform are expected to drive future growth.

• Management anticipates continued investment in technology, sales, and platform operations.

• Macroeconomic uncertainty and regulatory changes may impact future results.