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The Trade Desk (TTD) recorded revenues of $739 million in Q3 2023, an 18% year-over-year increase. The company holds a strong financial position with $1.4 billion in cash and no debt. Adjusted EBITDA reached $317 million and free cash flow totaled $155 million, yielding a 43% adjusted EBITDA margin, underscoring its operational efficiency.
TTD’s international business represents approximately 13% of total revenues, with management estimating that 60% of its total addressable market lies outside the U.S. The company is investing in AI-driven platforms, notably Kokai, which has shown improved performance metrics compared to competitors, offering lower cost per acquisition and higher click-through rates.
In Q3 2023, TTD repurchased $310 million worth of stock and has authorized a new $500 million buyback plan, reflecting confidence in long-term cash generation amid a competitive landscape in ad-tech.
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