The Trade Desk has reported March quarter revenue of about A$953 million, up 12 per cent year-on-year, as the programmatic advertising platform navigates a tougher market and increased scrutiny from major agency groups.
The company’s revenue for the three months to 31 March 2026 rose from about A$852 million in the prior corresponding period. Net income fell to about A$55 million, down from about A$70 million a year earlier.
What did The Trade Desk report?
The Trade Desk reported income from operations of about A$92 million, compared with about A$75 million in the March quarter of 2025.
Operating expenses rose to about A$860 million, up from about A$777 million. Diluted earnings per share were A$0.11, compared with A$0.14 a year earlier.
Adjusted EBITDA was about A$285 million, slightly down from about A$288 million in the prior corresponding quarter. The company said customer retention remained above 95 per cent during the quarter.
Jeff Green, chief executive officer and co-founder of The Trade Desk, said: “Q1 was another strong quarter for The Trade Desk, with revenue growing to US$689 million, representing 12% year-over-year growth.”
“We’re encouraged by the impact of the strategic upgrades we’ve been making across the company, which contributed to our outperformance in Q1. Despite headwinds in the macro environment, we remain confident in our ability to lead and innovate within the programmatic ecosystem.
“We’re focused on delivering increasing value to marketers and to help them prioritize objective, transparent and data-driven media buying on the open internet.”
Jeff Green
June quarter outlook
The Trade Desk forecast June quarter revenue of at least A$1.04 billion. It also expects adjusted EBITDA of about A$360 million.
The company said it used about A$227 million of cash to repurchase Class A common stock during the March quarter. As of 31 March, it had about A$452 million available and authorised for further repurchases.
Agency scrutiny continues
The result comes as The Trade Desk faces continued attention from global agency holding companies over transparency and fees in programmatic buying.
Publicis Groupe has advised clients it will no longer recommend The Trade Desk following an audit that raised concerns about fees and billing practices. The Trade Desk has disputed claims that it failed the audit.
Omnicom has also commissioned a third-party audit of The Trade Desk’s billing practices. The company has described that review as part of routine oversight and said Omnicom’s initial reviews had not found issues affecting clients.
The dispute has sharpened industry debate around how advertisers are charged across the programmatic supply chain, and how much visibility brands have over media, data and platform costs.