UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________ FORM 10-Q ______________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-37879 ______________________________ THE TRA ...

The Trade Desk, Inc. (NASDAQ:TTD) Q1 2023 Earnings Conference Call May 10, 2023 5:00 PM ET Company Participants Chris Toth - Investor Relations Jeffrey Green - Founder & Chief Executive Officer Blake Grayson - Chief Financial Officer Laura Schenkein - Executive Vice President of Finance Conference Call Participants Shyam Patil - Susquehanna Justin Patterson - KeyBanc Vasily Karasyov - Cannonball Research Youssef Squali - Truist Securities Jason Helfstein - Oppenheimer Tim Nollen - Macquarie Operator Greetin ...

Table of Contents Title of each class Trading Symbol Name of each exchange on which registered Class A Common Stock, par value $0.000001 per share TTD The Nasdaq Stock Market LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________ FORM 10-Q ______________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION ...

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The Trade Desk, Inc. (NASDAQ:TTD) Q4 2022 Earnings Conference Call February 15, 2023 8:00 AM ET Company Participants Chris Toth - Investor Relations Jeff Green - Founder and Chief Executive Officer Blake Grayson - Chief Financial Officer Conference Call Participants Shyam Patil - SIG Matt Swanson - RBC Capital Markets Youssef Squali - Truist Securities Vasily Karasyov - Cannonball Research Jason Helfstein - Oppenheimer Brian Fitzgerald - Wells Fargo Mark Zgutowicz - The Benchmark Group Laura Martin - Needha ...

Revenue Growth and Dependencies - The company's revenue growth depends on increasing spend through its platform, with programmatic ad buying expected to remain the primary revenue source[84] - The company's revenue may not grow at the same rate as platform spend due to pricing competition, quantity discounts, and shifts in product mix[85] - The company's revenue and growth depend on maintaining a consistent supply of quality advertising inventory, including video, display, CTV, audio, and mobile inventory[102][104] Competitive and Market Risks - The company operates in a highly competitive industry, with risks from new technologies, competitors, and potential strategic alliances among competitors[89][90] - The company faces risks from potential saturation in digital media advertising budgets, with clients able to reduce or terminate spending with limited notice[77] - The company's growth depends on expanding within social, native, audio, and CTV advertising channels, with risks from decreased demand in mobile, display, and video channels[92] Economic and External Factors - The company's business has been and could continue to be adversely affected by health epidemics like COVID-19, impacting advertising spending and economic activity[86][87] - The company faces risks from global market uncertainties, such as inflation, rising interest rates, and economic downturns, which could reduce advertising budgets and impact revenue[108] - Seasonal fluctuations in advertising activity, particularly higher spending in Q4, could impact revenue and cash flow[109] Operational and Infrastructure Challenges - The company's rapid growth may strain resources and infrastructure, potentially impacting platform quality and client service[111] - The company is investing heavily in its programmatic television offering, including workforce expansion and platform enhancements, to capitalize on the growing CTV market[106] - The company faces long sales cycles, making it difficult to predict when new clients will generate revenue[95] Payment and Financial Risks - The company is subject to payment-related risks, including sequential liability arrangements with advertising agencies and potential credit losses[96][98] - The company's results of operations may fluctuate due to factors beyond its control, potentially falling below analyst and investor expectations[99] - Human error in inputting campaign variables on the platform could lead to significant overspending, potentially harming the company's financial results despite existing safeguards like daily caps and credit limits[161] Technology and Security Risks - Increased use of APIs by clients poses security and operational risks, including potential outages and data breaches[114] - The company must invest in technology and security infrastructure to prevent outages, disruptions, and cyberattacks, which could harm its reputation and financial condition[115] - Operational and internal control issues with the platform could lead to errors, outages, and client dissatisfaction, impacting financial performance[117] Data Privacy and Compliance - Unauthorized access to user or client data could disrupt services, harm the company's reputation, and result in legal and financial liabilities[120] - Data breaches or flawed security designs could lead to theft, misuse, or loss of data, resulting in legal liabilities, government investigations, and reputational damage[122] - New products involving identifiable information increase risks of data breaches, potentially leading to contractual breaches and reputational harm[122] Regulatory and Legal Risks - Privacy laws may require changes to the company's platform or business model, incurring additional costs and compliance risks[123] - State privacy laws in California, Virginia, Colorado, Connecticut, and Utah impose opt-out requirements for targeted advertising, potentially reducing data availability and platform value[126] - GDPR compliance requires significant resources and may result in fines up to €20 million or 4% of global revenue for non-compliance[132] International Operations and Risks - The company is expanding internationally, but faces challenges such as varying regulatory systems, cultural differences, and slower adoption of programmatic ad buying in non-U.S. markets[162][165] - International operations expose the company to risks like compliance with local laws, geopolitical instability, currency fluctuations, and reduced intellectual property protection in some countries[166] - Brexit-related uncertainties, including potential disruptions in transborder transactions and foreign exchange volatility, could impact the company's operations in the U.K. and EU[167] Corporate Governance and Financial Controls - The company's credit facilities contain restrictive covenants that limit its ability to engage in certain transactions, such as asset sales, mergers, and dividend payments[170] - The company is required to maintain effective internal controls over financial reporting under the Sarbanes-Oxley Act, with potential risks of restatements or loss of investor confidence if controls fail[196] - Ongoing costs are expected for maintaining and improving internal controls, with potential impacts on financial reporting and investor confidence[198] Stock and Market Risks - The market price of the company's Class A common stock is highly volatile and influenced by factors beyond its control, such as market trends and regulatory developments[186] - Substantial sales of common stock by insiders or large stockholders could negatively impact the stock price[188] - The dual-class stock structure gives Class B shareholders significant control, with 49.6% of voting power as of December 31, 2022[191] Employee and Cultural Risks - The company's ability to attract and retain key employees, including its founders and executive officers, is critical to its future success, and failure to do so could adversely affect its business[153][155] - The company's sales and client service teams are critical for revenue growth, but recruiting and training qualified personnel, especially internationally, poses significant challenges[172] - Maintaining the company's corporate culture as it grows globally is essential for innovation and operational effectiveness, but rapid expansion could dilute this culture[173] Intellectual Property and Legal Risks - The company faces risks related to intellectual property protection, including potential infringement claims and difficulties enforcing proprietary rights, especially in foreign markets[175][177] - The company is subject to anti-bribery and anti-corruption laws, with potential risks increasing as international sales grow, particularly in countries with low CPI scores[181] - Compliance with U.S. export control and economic sanctions laws is critical, and violations could result in significant fines, penalties, or reputational harm[182] Financial and Tax Risks - Foreign currency exchange rate fluctuations could negatively impact the company's results of operations, with a potential $35 million loss from a 10% adverse change in exchange rates[202][311] - Future acquisitions and strategic investments carry risks such as regulatory hurdles, integration challenges, and potential dilution of equity securities[203][205] - Tax liabilities may increase due to changes in tax laws, regulations, or accounting principles, potentially impacting financial condition[207] Interest Rate and Hedging Risks - Interest rate risk exposure includes a hypothetical $4 million annual impact from a one percentage point change in interest rates[310] - The company uses forward contracts and derivatives to hedge foreign currency risk, but effectiveness is not guaranteed[312]

The Trade Desk, Inc. (NASDAQ:TTD) Q3 2022 Earnings Conference Call November 9, 2022 8:00 AM ET Company Participants Chris Toth - Vice President, Investor Relations Jeff Green - Founder and Chief Executive Officer Blake Grayson - Chief Financial Officer Tim Sims - Chief Revenue Officer Conference Call Participants Shyam Patil - SIG Youssef Squali - Truist Securities Laura Martin - Needham Justin Patterson - KeyBanc Tom White - D.A. Davidson Brian Fitzgerald - Wells Fargo Jason Helfstein - Oppenheimer Michael ...