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How The Trade Desk, Inc. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$2.9B · 100%Cost of revenue$619M · 21%Gross profit$2.3B · 79%Operating income$589M · 20%Income before tax$659M · 23%Income tax$215M · 7%Net income$443M · 15%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$2.9B100%
  • 10-K · FY 2025Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
Cost of revenue$619M21%
  • 10-K · FY 2025Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
$2.3B79%
  • 10-K · FY 2025Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
$589M20%
  • 10-K · FY 2025Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
Income before tax$659M23%
  • 10-K · FY 2025Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
Income tax$215M7%
  • 10-K · FY 2025Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
$443M15%
  • 10-K · FY 2025Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001671933-26-000014 · filed Feb 27, 2026
· event Dec 31, 2025 · retrieved Oct 15, 2026 · annual-row source set
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