What happened
In Q3 2026, The Trade Desk reported revenue of $736 million, a 0.5% decrease year-over-year, beating analyst forecasts by about $85 million thanks to record political ad spending. Adjusted EBITDA fell to $266 million (36% margin) from $317 million a year earlier. Net income dropped to $38 million from $116 million, including $44 million in restructuring charges. The company cut 15% of its workforce, expecting over $100 million in savings in 2027. CEO Jeff Green highlighted the 2026 elections as the company's biggest political cycle yet and welcomed back co-founder Dave Pickles. The Trade Desk's Koa AI model improved median CPA by 21% across 62 A/B tests. Q4 revenue guidance is $755 million, with headwinds expected to resume.
Key facts & figures
- ·The Trade Desk's Q3 2026 revenue was $736 million, down 0.5% YoY.
- ·Adjusted EBITDA was $266 million (36% margin), down from $317 million a year ago.
- ·Net income was $38 million, including $44 million in restructuring charges.
- ·The company cut 15% of its workforce, expecting $100 million+ savings in 2027.
- ·Koa AI improved median CPA by 21% in A/B tests.
Key questions for investors and operators
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Companies & platforms involved
The Trade Desk is the subject of the earnings report, reporting Q3 2026 financial results.
The article links to a separate article about The Trade Desk and Dstillery linking AI agents, but Dstillery is not directly involved in this earnings story.