The Trade Desk Inc-A (TTD.US) Q3 2025 Earnings Conference Call
Live time: Nov 6, 2025 19:30
The Trade Desk Inc-A (TTD.US) Q3 2025 Earnings Conference Call
Live time: 11/06/2025 19:30:00
The Trade Desk Inc-A (TTD.US) 2025 第三季度业绩电话会
Summary
00:04
Opening Remarks by Chris Toth
Chris Toth welcomes participants to The Trade Desk's Q3 2025 earnings call, introduces CEO Jeff Green and CFO Alex Kayau, and provides legal disclaimers regarding forward-looking statements and non-GAAP financial measures.
01:56
CEO Jeff Green Q3 Business Overview
CEO Jeff Green reports strong growth in Q3 with revenue increasing by 18% year-over-year, and 22% excluding political spending. CTV remains the largest and fastest-growing channel, with retail media expanding rapidly.
09:25
CEO Jeff Green on Company Innovations
Jeff Green highlights significant company innovations, including new leadership roles, structural improvements, and the launch of transformative products like Kokai, which has improved cost per acquisition by 26% and click-through rates by 94%.
28:53
CFO Alex Kayau Financial Results
CFO Alex Kayau details Q3 financial performance with $739M revenue, 18% growth, and $317M adjusted EBITDA. The Trade Desk ended the quarter with $1.4B in cash and no debt, repurchasing $310M of Class A common stock.
34:48
CFO Alex Kayau Q4 and 2026 Outlook
Alex Kayau provides guidance for Q4 with expected revenue of at least $840M and adjusted EBITDA of $375M. The Trade Desk is positioned to increase its share in the $1 trillion TAM, driven by CTV transformation and AI applications.
36:38
Amazon as a Competitor? — Analyst: Sean Patel (SIG)
CEO Jeff Green clarifies that Amazon's advertising efforts focus on sponsored listings and Prime Video, with minimal competition in the open internet DSP space.
45:30
Organizational Changes Impact — Analyst: Justin Patterson (KeyBanc)
Jeff Green discusses the impact of organizational changes, including new leadership roles and improved internal coordination, leading to stronger international growth and enhanced client relationships.
50:47
2026 Macro Trends — Analyst: Vasily Karasyov (Cannonball Research)
Jeff Green highlights macro trends favoring The Trade Desk, including a shift towards data-driven marketing and increased reliance on independent partners like The Trade Desk by large CTV content owners.
54:46
Impact of Google Antitrust Case — Analyst: Jason Helfstein (Oppenheimer)
Jeff Green anticipates Google will focus more on owned and operated inventory post-antitrust case, with The Trade Desk benefiting from increased opportunities in the open internet.
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