The Trade Desk, Inc. reported significant financial growth in its latest 10-Q filing for the three and nine months ended September 30, 2024. The company achieved revenue of $628.0 million for the third quarter, a 27% increase from $493.3 million in the same period of 2023. For the nine months, revenue reached $1.7 billion, also reflecting a 27% rise from $1.34 billion year-over-year. This growth is attributed to the company's focus on expanding its programmatic advertising capabilities and inventory, particularly in global markets.

Net income for the third quarter surged to $94.2 million, a substantial increase of 139% compared to $39.4 million in Q3 2023. For the nine-month period, net income was $210.8 million, up 158% from $81.6 million in the prior year. Earnings per share (EPS) for the third quarter were $0.19, compared to $0.08 in the same quarter of 2023, while the nine-month EPS rose to $0.43 from $0.17.

Operating expenses for the third quarter totaled $519.5 million, up from $455.6 million in Q3 2023, driven by increased costs in platform operations, sales and marketing, and general administrative expenses. Notably, platform operations expenses rose by 31% due to higher hosting and personnel costs. Despite the increase in expenses, the company reported a significant improvement in income from operations, which reached $108.5 million for the third quarter, compared to $37.7 million in the same period last year.

The company’s balance sheet showed robust growth, with total assets increasing to $5.5 billion as of September 30, 2024, up from $4.9 billion at the end of 2023. Cash and cash equivalents also rose to $1.2 billion, compared to $895.1 million at the end of 2023. The company maintained a strong liquidity position with no outstanding debt under its Amended Credit Facility, which has a maturity date of June 15, 2026.

In terms of strategic developments, The Trade Desk has continued its share repurchase program, with $521 million remaining available for future repurchases as of September 30, 2024. The company repurchased 0.5 million shares for $54 million during the third quarter and 2 million shares for $179 million over the nine-month period.

Overall, The Trade Desk's financial performance reflects a strong upward trajectory, driven by strategic investments in technology and market expansion, despite the challenges posed by increased operating expenses and competitive pressures in the advertising sector.