Trade Desk Q3 Revenue Slips to $736 Million; Board Lifts Buyback Capacity to $1 Billion
The Trade Desk said Monday its third-quarter revenue edged down 0.5% from a year earlier to $736 million, as its board added $731 million to its share buyback, bringing the amount available for repurchases to $1 billion, according to its 8-K.
Net income fell to $38 million, or 8 cents a diluted share, from $116 million, or 23 cents, a year earlier. Non-GAAP earnings were 33 cents a share, down from 45 cents.
Adjusted EBITDA dropped to $266 million from $317 million, and the adjusted EBITDA margin narrowed to 36% from 43%.
"Q3 represented meaningful progress, with results well ahead of our expectations entering the quarter, but we are still operating below the level of growth we expect from ourselves," co-founder and Chief Executive Jeff Green said in the release. He said the company is "moving with greater urgency" with its largest customers and on new products.
Outlook and buyback
For the fourth quarter, the advertising-technology company guided to revenue of at least $755 million and adjusted EBITDA of at least $280 million. It did not give a GAAP net income outlook.
The repurchase program covers Class A common stock and does not obligate the company to buy any particular amount, according to the filing.
Platform notes
Customer retention stayed above 95% in the quarter, as it has for more than a decade, the company said. It also said Netflix expanded its integration so advertisers can, beginning in November, use first-party and third-party data to target Netflix audiences through its Kokai platform.
For the first nine months of 2026, revenue rose 4% to $2.14 billion, while net income fell to $142 million from $256 million.
By the numbers
- Q3 revenue: $736 million, down 0.5%
- GAAP EPS: $0.08, versus $0.23
- Non-GAAP EPS: $0.33, versus $0.45
- Adjusted EBITDA: $266 million, 36% margin
- Q4 outlook: revenue of at least $755 million
- Buyback capacity: $1 billion
Sources
- Form 8-K with Exhibit 99.1 earnings release, The Trade Desk, Inc., filed Nov. 9, 2026, accession 0001671933-26-000115
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