Trade Desk, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Trade Desk, Inc. has filed its 2023 annual report (10-K) detailing financial performance and assets for the fiscal year ending December 31, 2023.</b>

AI Summary

Trade Desk, Inc. (TTD) filed a Annual Report (10-K) with the SEC on February 15, 2024. Trade Desk, Inc. filed its 2023 Form 10-K on February 15, 2024, reporting on the fiscal year ending December 31, 2023. The filing covers financial data for the fiscal years 2023, 2022, and 2021, including details on common stock, additional paid-in capital, and retained earnings. Key assets mentioned include computer equipment, software, furniture, fixtures, office equipment, and cloud computing arrangements. The company's fiscal year ends on December 31st. Trade Desk, Inc. is incorporated in Delaware and operates within the Services-Computer Programming, Data Processing, etc. industry.

Why It Matters

For investors and stakeholders tracking Trade Desk, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Trade Desk's financial health and operational status for the past fiscal year, crucial for investors and stakeholders to assess performance and future outlook. The detailed financial statements and disclosures within the 10-K allow for year-over-year comparisons and analysis of the company's asset base, including significant investments in technology and infrastructure.

Risk Assessment

Risk Level: medium — Trade Desk, Inc. shows moderate risk based on this filing. The filing is a standard annual report (10-K), which inherently contains a broad range of business and financial information, but lacks specific forward-looking financial targets or significant negative events that would elevate the risk level beyond medium.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Trade Desk's performance and potential challenges for the upcoming year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Fiscal year end date)
• 2024-02-15 — Filing Date (Date the 10-K was filed)
• 2023 — Reporting Year (Primary year for the 10-K report)
• 2022 — Prior Year (Comparative year in the report)
• 2021 — Earlier Year (Further comparative year in the report)

Key Players & Entities

• Trade Desk, Inc. (company) — Filer name
• 0001671933-24-000014 (other) — Accession Number
• 20231231 (date) — Conformed period of report
• 20240215 (date) — Filed as of date
• DE (other) — State of Incorporation
• 7370 (other) — Standard Industrial Classification
• 001-37879 (other) — SEC File Number
• TTD (company) — Ticker symbol

FAQ

Risk Factors

• Customer Concentration Risk [medium — financial]: The company's revenue is subject to customer concentration risk, with significant portions of net sales derived from a limited number of customers.

Key Dates

• 2024-02-15: 10-K Filing — Official filing of the annual report for fiscal year 2023.
• 2023-12-31: Fiscal Year End — End date for the reporting period covered by the 10-K.

Key Financial Figures

• $0.000001 — stered Class A Common Stock, par value $0.000001 per share TTD The Nasdaq Stock Market

Filing Documents

• ttd-20231231.htm (10-K) — 1502KB
• exhibit4_4-exx44.htm (EX-4.4) — 24KB
• exhibit211-subsidiariesoft.htm (EX-21.1) — 5KB
• exhibit23_1-exx231.htm (EX-23.1) — 2KB
• ttd-20231231xex311.htm (EX-31.1) — 10KB
• ttd-20231231xex312.htm (EX-31.2) — 10KB
• ttd-20231231xex321.htm (EX-32.1) — 7KB
• ex971-policyforrecoveryofe.htm (EX-97.1) — 28KB
• ttd-20231231_g1.jpg (GRAPHIC) — 10KB
• ttd-20231231_g2.jpg (GRAPHIC) — 123KB
• 0001671933-24-000014.txt (&nbsp;) — 8616KB
• ttd-20231231.xsd (EX-101.SCH) — 61KB
• ttd-20231231_cal.xml (EX-101.CAL) — 82KB
• ttd-20231231_def.xml (EX-101.DEF) — 312KB
• ttd-20231231_lab.xml (EX-101.LAB) — 804KB
• ttd-20231231_pre.xml (EX-101.PRE) — 564KB
• ttd-20231231_htm.xml (XML) — 1012KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 40 I tem 1C. C ybersecurity 40 Item 2.

Properties

Properties 41 Item 3.

Legal Proceedings

Legal Proceedings 41 Item 4. Mine Safety Disclosures 41 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 42 Item 6. Reserved 44 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 44 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 55 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 57 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 83 Item 9A.

Controls and Procedures

Controls and Procedures 83 Item 9B. Other Information 84 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 84 Part III Item 10. Directors, Executive Officers and Corporate Governance 85 Item 11.

Executive Compensation

Executive Compensation 85 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 85 Item 13. Certain Relationships and Related Transactions, and Director Independence 85 Item 14. Principal Accountant Fees and Services 85 Part IV Item 15. Exhibits and Financial Statement Schedules 86 Item 16. Form 10-K Summary 88

Signatures

Signatures 89 2 Table of Contents SPECIAL NOTE ABOUT FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements generally relate to future events or our future financial or operating performance and may include statements concerning, among other things, our business strategy (including anticipated trends and developments in, and management plans for, our business and the markets in which we operate), financial results, operating results, revenues, operating expenses, capital expenditures including share repurchases, sales and marketing initiatives, cybersecurity risks and competition. In some cases, you can identify forward-looking statements because they contain words such as "may," "might," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "suggests," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. These statements are not guarantees of future performance; they reflect our current views with respect to future events and are based on assumptions and are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from expectations or results projected or implied by forward-looking statements. We discuss many of these risks in "Item 1A. Risk Factors" of this Annual Report on Form 10-K in greater detail and in other filings we make from time to time with the Securities and Exchange Commission, or SEC. Also, these forward-looking statements represent our estimates and assumptions only as of the date of this Annual

Business

Item 1. Business Overview The Trade Desk, Inc. (the "Company," "we," "our," or "The Trade Desk") offers a self-service, cloud-based ad-buying platform that empowers our clients to plan, manage, optimize and measure more expressive data-driven digital advertising campaigns. Our platform allows clients to execute integrated campaigns across ad formats and channels, including video (which includes connected television ("CTV")), display, audio, digital-out-of-home, native and social, on a multitude of devices, such as computers, mobile devices, televisions and streaming devices. Our platform's integrations with major inventory, publisher and data partners provide ad buyers reach and decisioning capabilities, and our enterprise application programming interfaces ("APIs") enable our clients to customize and expand platform functionality. Our clients are advertising agencies, advertisers and other service providers for agencies or advertisers, with whom we enter into ongoing master services agreements ("MSAs"). We generate revenue by charging our clients a platform fee based on a percentage of a client's total spend on advertising. We also generate revenue from providing data and other value-added services and platform features. The Trade Desk is a Delaware corporation established in 2009 and headquartered in Ventura, California. Our Industry We believe that several trends in the advertising industry, happening in parallel, will result in programmatic advertising — the buying and selling of advertising inventory using algorithmic software that automates the process — being the predominant means by which companies reach consumers online and through connected devices. Some of the key industry trends are: Media is Increasingly Digital. Media is increasingly digital as a result of advances in technology and changes in consumer behavior. This shift has enabled unprecedented options for advertisers to target and measure their advertising campaigns across nearly every med