For the year ending 2025-12-31, TTD had -$711,288K decrease in cash & cash equivalents over the period. $795,710K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 443,304 | 393,076 | 178,940 | 53,385 |
| Depreciation and amortization expense | 115,784 | 87,490 | 80,418 | 54,425 |
| Stock-based compensation expense | 490,627 | 494,699 | 491,621 | 498,642 |
| Deferred income taxes | 167,690 | -76,903 | -61,597 | -11,507 |
| Noncash lease expense | 69,682 | 57,403 | 48,955 | 44,115 |
| Provision for expected credit losses on accounts receivable | - | 853 | 2,960 | 3,203 |
| Other | 19,237 | 7,881 | 20,379 | -622 |
| Accounts receivable | 432,718 | 474,227 | 554,012 | 291,747 |
| Prepaid expenses and other current and non-current assets | 76,586 | 38,783 | 26,815 | -50,655 |
| Accounts payable | 291,073 | 298,919 | 475,463 | 187,119 |
| Accrued expenses and other current and non-current liabilities | 6,926 | 46,564 | 35,681 | 8,168 |
| Operating lease liabilities | -63,824 | -41,754 | -52,913 | -48,346 |
| Net cash provided by operating activities | 992,721 | 739,456 | 598,322 | 548,734 |
| Purchases of investments | 954,273 | 679,539 | 608,379 | 553,295 |
| Sales of investments | - | 0 | 0 | 1,977 |
| Maturities of investments | 875,754 | 629,088 | 555,806 | 338,829 |
| Purchases of property and equipment | 197,011 | 98,238 | 46,790 | 84,160 |
| Capitalized software development costs | 12,752 | 8,824 | 8,230 | 7,725 |
| Business acquisition | 4,350 | - | 0 | 0 |
| Net cash used in investing activities | -292,632 | -157,513 | -107,593 | -304,374 |
| Proceeds from line of credit | - | - | - | 0 |
| Repayment on line of credit | - | - | - | 0 |
| Repurchases of class a common stock | 1,380,422 | 234,784 | 646,597 | - |
| Payment of debt financing costs | - | - | 0 | 0 |
| Proceeds from exercise of stock options | 23,818 | 216,281 | 60,525 | 47,525 |
| Proceeds from employee stock purchase plan | 42,881 | 49,989 | 38,482 | 33,062 |
| Taxes paid relating to net settlement of restricted stock | 97,654 | 139,095 | 78,516 | 48,595 |
| Net cash used in financing activities | -1,411,377 | -107,609 | -626,106 | 31,992 |
| Increase (decrease) in cash and cash equivalents | -711,288 | 474,334 | -135,377 | 276,352 |
| Cash and cash equivalentsbeginning of year | 1,369,463 | 895,129 | 1,030,506 | 754,154 |
| Cash and cash equivalentsend of year | 658,175 | 1,369,463 | 895,129 | 1,030,506 |
Trade Desk, Inc. (TTD)
Trade Desk, Inc. (TTD)