The Trade Desk, Inc. (TTD) 8 Nov 212021 Q3 Earnings call transcript

Good morning, ladies and gentlemen, and welcome to The Trade Desk, Third Quarter 2021 earnings conference call. At this time, all participants have been placed on listen-only mode and the floor will be opened for questions and comments after the presentation. [Operator Instructions]. It is now my pleasure to turn the floor over to your host, Chris Toth. Sir, the floor is yours.

operator. you, Thank afternoon good Hello to and everyone. The Earnings XXXX to Third Quarter Call. Desk, Conference Welcome Trade

On are copy call our section. Financial press the today can website Officer, and Jeff release the Blake Chief at Green, thetradedesk.com Grayson. Investor found A be of in earnings founder our on and Relations CEO,

which certain begin, of we information, to potential Q&A to or our SEC of and and supply and chain forward-looking you from discussion by could the our to disrupt like in filings. advertising statements? contain some operations, around particular, responses incorrect, spend be may our that release our are implied in encourage addition that upon in all in our our of results you the could risks the Before any remind would projections. assumptions are forward-looking should In uncertainties. these differ recent impact to prove our statements, business, subject these and most risks COVID-XX I press historical I included financial Should except the referenced dependent actual our results to expectations for those materially risk pandemic, factors disruptions of refer Are materialize to change.

the provides over Jeff? our to results, performance. of data. with a found combined CEO, our in that earnings present A will In Company's measures, GAAP our and Jeff to to I call believe meaningful we addition measures financial reporting be can non-GAAP turn GAAP release. reconciliation non-GAAP more GAAP operational providing the Founder now Green. representation supplemental results, financial non-GAAP of the press We

joining meeting customers, joining all you us thrilled London this in I'm to you And I'm our and colleagues, from thank our be reopened of office. Europe some recently today. and Chris, with here partners. for Thanks, week

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moving Blake call before turn Blake? I Q&A. like to Now, would over to the

and you, morning good Thank Jeff, everyone.

the channel continue fastest-growing As in around TV at continued QX to Connected we be to scale current our world. financial indicates, execute environment. well our the in performance

open the the DSP and long value allowed Walmart plan. platform consistently on independent term. business the stated, is DSP on business with we available, to our ramping customers strongly of the and resonate on has our focused model, over IOS changes. trust largest build being have continues recent now we The seen Internet, to have has us our Solimar The as impact from no material

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digital agencies During in the advertising and quarter, both we from environment benefited brands. from the continued growth

all Our was verticals. regions, broad-based across performance channels, nearly all in QX and

We top while our continue adjusted we helping positive about $XXX grow line or efficiently, quickly drive to revenue. million generated QX, in scaling structure meaningfully of In XX% EBITDA. cost our EBITDA,

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share compared CTV in small to produced While America. still North of the spend

set year. up are well optimistic trends that the seeing we're We for about us next

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We have no on debt the balance sheet.

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listening open question poll the that you. are quality. and just do at floor questions. Sig. Shyam to from sound for is [Operator today first hold We Thank your for Ladies Patel on coming Instructions] moment is optimum up if Please you while our a for questions. gentlemen, for pick we handset And ask now speaker please phone,

Your line is live.

You may begin.

Hey guys. Congrats on the results. I had a couple of questions.

your Jeff, reported next of wanted about you year, When are guys you X, issues. high peers at a on the you on ask into in and just view First year? a struggling a setup drivers and XQ just I key asking great on I and the as a question head XQ know prepared lot to the how Can lot calling macro of outlook. for next year. level. your just talk them but about context remarks, you touched you of next

second CTV, specific year how given for revenue guess I just guys. have next that you bit a -- year. seasonality have assumption Blake. know couple guys And next little for but Shopper how maybe Thanks, guys I yet, And talk then about about a haven't thinking seasonality guidance years could abnormal? Solimar a You think you just political. you you're year International given XQ to XX% that about next Marketing XX%, one little revenue in reasonable down be been the past revenue about specifically, Just this then, sequentially. at point? tends -- Is

are I've don't that excited So Shyam, gone Apart excited 'XX. things than I outside of as thank about as into our wishing happening congratulations control. am into kinds the more first 'XX. that of of just for really I know going year well us a all I'm question. you

regulatory actually the is So net positive. really that environment first is the

controlled us forced net much positive Facebook what's years. more or they've given go that's little and little Google that maybe the for a share bit even or likely decisions how a if make they gained So slower, is over a deliberate are more more to bit

and outside things supply challenges. don't us impact from changes course, impact this supply see of We material chain. chain of don't discussion and IOS earnings a we from about season material lot any too IOS, in any see Of

given are me well. it things more even that, going So excited really makes the if about that

we're consistently all, of first So grabbing share.

the growing. than So is space just constantly getting more

what's fatigue in ever of see a know cutting, that cord channel time are don't I a happen And in -- which accelerating, going anticipate little bit if for ticking enough returning is before. in CTV I'm bomb. here last subscription sports, again. ever stock CTV a create happen of a never weren't in we'll subscriptions we've that that then struggle. opportunity that seen on always I mentioned upfront of to that's and London. Second, We And But programmatic. more the If more like results live and market, any was something cable happening bit year

many well. forecasts In have closed detained the predict U.S. creating Just has which just with here went we is retailers. incredibly what's EMEA We spend well we elections, presidential a some like in in developed. Shopper to loop as world the that's the live 'XX, not growing incredibly the that been the enough measurement international UK year. is election the that. the CTV in CTV in That's across the the first as basically across of is be what to has which Then than happening Marketing and as faster largest same come there midterm in digital world, be I the think will In going

good then as new So we and that us is product just for Solimar. well. a macro we And shipped estimation think

it UID So And going just more which we'll incredibly then talk I'm about. that's sure well, incredibly going well.

was -- the seasonality So towards general, being everything always-on. the great. market In I on is give like seconds going before XX heading just answer. To digital

be everything. changes more all an such world that. QX to just inside digital, are of anomaly. those we be heading it was less a of the anomalies, was more there's a and difference XXXX the and But were to little is But It's in XX% changed should of the year. about of of important to seasonality. before there's just note this so sure always global what half the has caused the changes normal. and we by given which ramp year is say a all both there to I'm XXXX, more And first mindset we predict 'XX ramp expect in but where Blake that It's between XX% And in bit that. of of back an a of really QX where XXXX, pandemic the normal, to bit because toward, spend it the is half XXXX that on

Thanks, Sure. Jeff. Yes.

new do COVID. believe XX I historical trend. over that to impacts Just of it to said, so, difficult or with we we're the what it's does the seasonality seasonality growth changed back Jeff historic exactly during to but but it's normal trend, obviously normal seem think feel on little last say bit the to a back seasonality; move more sequential still the dealing a up, ends getting I early normal closer that reiterate months bit, where like

guys. you Thank it. Got

John. Thanks,

Thank you.

Our Karasyov Vasily next is question coming at Cannonball Research. from

begin. Your is live, you may line

Vasily? there You're

Hello, sorry. Can you hear me?

Yeah.

how retail? line are live. that Okay. Jeff be what on to takeaways give any for does us do Company? some revenue? The an opportunity being would and how discussions that your color going will having if or of for wanted What kind into with it important about have the ask you measurement Trade great. And the business be also material went the you're now inform could seeing to loop view then the just that on update incremental of opportunity to Desk an So over And detail can be incremental, you more is size and be nice DSP go of additional Walmart after you view and your closed

Thanks for the question Vasily.

So, with so as relates the very just world. it's the always in biggest Walmart it better to start DFP, to the

with create in the the of loop biggest to we're a But partnership retailer in couple closing this weeks world. only the that we phenomenal in. Just were able

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Thank you.

you. Thank

Our at coming Nollen next is from Macquarie. Tim today question

Your line is live.

You may begin.

as or Thanks this about and a of to and matter goes. talked that. part rollout with converting a how progress just lot. is how going how measurement the to ask existing that Solimar maybe the data you've wanted platform If of marketplaces. Solimar, you users the And Jeff relatedly it's new basically

work. in principle marketplace understand a data might think I I how

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Jim. Thanks,

Thank you.

from next Securities. Youssef today coming Truist is at Squali Our question

Your is line live.

may You begin.

Natalie. you very Thank much, Great.

Squali. Youssef

a on congrats guys, really performance there. hey strong So

can from to X, questions level UIDX.X particularly So by X adoption speak brands. of the of you me. maybe Jeff,

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Jeff. Thank you,

Thank you.

coming from KeyBanc. question next Patterson Our today Justin at is

live. is line Your

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you. Thank

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with big feels XXXX? and X in word which your lot marketing marketing inevitably this the Maybe had at Do That's one that in were How the quarter really this than kind core didn't represent, you, by “nearly all bigger you -- Walmart the to say be people Thanks Blake. Great business of it join. then you, you, of said that the Justin, you best ad On and I'm closing verticals today revenue it very Blake, starts other as like what is maturity? intrigued grow So, to careful started to you you digital in quarter.” for then the the return a shopper guys. grown would are that percent what X for -- results. the and shopper for Walmart practice. closing feel, has loop loop could Jeff, of negotiating

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would it of is about and $X that, are see X/X growth Shopper of the get incremental all these captured that that All Marketing potential on trillion, TAM. of be billion silly in X/X to $XXX not because we to a of we to other is only is pie. that collectively the but pie to focus

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Thanks very much. Congratulations.

Thanks, Laura.

Thank you.

Our live. Rosenblatt is Zgutowicz coming Mark line from today next question at is Securities

begin. may You

you. Thank

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is Brian today Fitzgerald at from Our Fargo. Wells final question coming

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one the of Thanks. for be throughout that’s across new a universal capping. thing web was Adweek I'll using benefits idea the frequency CTV to quick and

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see are There over you all Peacock So being shown any or adds in of ad that's across them. now the others. [Indiscernible] whether of are

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part. Now, Tim, for the second

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watch thing exciting going it's an we're definitely to period where an early to still expand. interesting So days, but

All right.

we attendance. much everyone's Thank is over of do, what normally minutes but the so you, everyone you Brian. We today. appreciate thank being a few And you. Thank for on call ran

everyone. Thanks,

Thank and today's you, event. gentlemen. ladies does conclude This

this for have you You and participation. day. may your a Goodbye at wonderful disconnect time and thank