The Trade Desk, Inc. (TTD) 15 Feb 242023 Q4 Earnings call transcript

Greetings. Welcome to The Trade Desk Fourth Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to your host, Chris Toth.

You may begin.

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

On are of call website Financial release the today be at Officer, and Jeff can Investor Laura Chief thetradedesk.com Green; in Schenkein. Relations on Copy found our the press Founder earnings our and section. CEO,

are These Actual some risks and statements. may I and our the discussion forward-looking uncertainties. would begin, update forward-looking you contain we the statements to remind certain expressly that assumptions in of only date such to represent our our Q&A statements beliefs dependent except vary we as Before like statements for results and obligations and forward-looking of of which are significantly, no historical upon made. assume any information, may responses

beliefs the factors Should projections from materially assumptions our statements. I to any could included filings. and be encourage by forward-looking most prove our our results financial in recent incorrect, these risk our SEC you or referenced to of in actual press differ release or implied those to refer

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

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the many a faster growth outside pace we in here a U.S. serve. business to are much believe the at in We of we last position international Our accelerate markets year. in our than grew U.S. the

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poised growth. are are executing we well, We XXXX was an excellent for year.

to XXXX even stronger. expect We be

over turn discuss to to going call to I'm Laura Now the our financials.

Jeff. Thank you,

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cash investments quarter. in end had sheet cash, $X.X the at short-term about billion and balance equivalents of the Our

debt no have balance on sheet. We the

during $XXX program Class QX. repurchase Finally, of our common share our A via we repurchased stock million

in release, in up new million our repurchase program under have authorization. announced press a $XX today, includes existing we the As -- of to share our authorization during seen which you remaining $XXX million,

our to stock flow business and of of cash coupled strength from the our balance dilution generation continue the offsetting Given shares issuances. we opportunistically sheet, consistent repurchasing with plan model, employee

for first Now our the turning to quarter. outlook

and media. would adjusted to $XXX be to a CTV strong our QX. continue approximately EBITDA be year-over-year million, which retail We see to million in as areas We of We estimate least $XXX revenue in on estimate QX at such basis. spend growth key represent XX%

in invest our operating In plan, continue and efficiently. terms of business we headcount grow our to to plan

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We shopper growth key capture to for like amassing within and We're secular and UIDX support drivers are CTV and industry partnerships OpenPath. executing marketing.

business international our to helping is growth. continue Our poised drive

heading gain into to continue the presidential vertical political the share We within cycle. U.S. election

product customers ever share. to We biggest with prepared business position value the we a continue platform. in open XXXX our come. this up We're Kokai, our that, call with grow our We innovate adding remain with and more gain and release strong for year in prospects and more And questions. the for operator, the for to enter about let's concludes to remarks. optimistic years That our our

the And comes Instructions] Patil first question from with Shyam [Operator SIG.

results. Laura But be job positioning it just of was market bit and XXXX? relative on bit had did you and X quarter little Great well. the your you prepared and as I Jeff, in talk about the a a just you question. the could ad this little talked maybe how about in about today how reported, digital should when thinking view to your you last how investors growth your more competitive detail the state remarks

Absolutely.

for First, much the so Shyam, thanks question.

to that, me With answer your jump in question. let

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The question Truist Youssef Securities. next from comes with Squali

on print. solid Congrats the

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So in particular? just about think you guys and that how do you for the industry for

You bet, thank you.

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from Shweta from Evercore comes question next ISI. Khajuria The

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with Up Vasily Karasyov next, Research. Cannonball have we

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Street New The question from next comes Salmon Research. with Dan

you X/X now with important got business. great. OpenPath, maybe in that then works the second, also little you your client one, breaks in questions. mentioned the it just on you first detail this UIDX. agencies strategy together to the single how for that Jeff Okay, represent give us press And the bit sign-on Could any between remarks prepared initiative? for JVPs direct how your release prepared maybe specifically of and your more Can down X I've remarks, authentication mentioned Laura but relationships? and about on and time talk Jeff, your memory. in identity and a initiative, recent more that more It's

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Yes. Thanks, Dan.

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Matthew The Morgan next question comes Stanley. Cost with from

have I X.

just is advertisers. on X first with The conversation the

November, quarter your of ahead October you weakness time the that in at obviously to quarter, brand some but certain significantly fourth through spend came at at guided the think So had the in verticals, and that I guidance time. least seen, you

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advertiser and faster I there the than I growth out? behavior or are guess, would you inside U.S. ways think green there's are seeing about the there changing inventory continued comment a before that that call shoots specific

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with The RBC next comes Capital. Swanson question from Matt

guys my add quarter. on to you the I'll congratulations

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The Capital Brian next question BMO with comes from Markets. Pitz

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question. close call, please? for John, out Thanks can you Thanks. And the the

your conference, concludes and you. lines you today's disconnect time. participation. Thank you your Thank at this may This Absolutely. for