There's been a narrative that our margin or take rate must compress because other platforms offer lower upfront prices for non-decisioned, non-data-driven buying. But TTD has maintained a take rate of more than 20% even as CTV (a category with generally lower take rates for tech intermediaries) grows as a share of spend.
The Trade Desk said fourth-quarter 2025 revenue rose 14% year over year to $847 million. Highlighting how the company's growth has been decelerating, The Trade Desk's revenue grew 25% in the first quarter of 2025, followed by 19% growth in Q2 and 18% growth in Q3.