How Trade Desk makes money

Period

FY2025

How does Trade Desk make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Trade Desk (The) · FY2025 · year ended 2025-12-31

Revenue$2.9BGross profit$2.3B · 79%Cost of revenue$619M · 21%Operating income$589M · 20%Operating expenses$1.7B · 58%R&D$525M · 18%SG&A$1.2B · 40%Pre-tax income$659M · 23%Other income$69M · 2%Net income$443M · 15%Income tax$215M · 7%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.

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