The Trade Desk, Inc. (NASDAQ:TTD) Q3 2023 Earnings Conference Call November 9, 2023 5:00 PM ET

Company Participants

Chris Toth - Vice President of Investor Relations

Jeffrey Green - Founder & Chief Executive Officer

Laura Schenkein - Chief Financial Officer

Conference Call Participants

Shyam Patil - SIG

Vasily Karasyov - Cannonball Research

Justin Patterson - KeyBanc

Shweta Khajuria - Evercore ISI

Jason Helfstein - Oppenheimer

Youssef Squali - Truist

Tim Nollen - Macquarie

Matt Swanson - RBC Capital Markets

Chris Kuntarich - UBS

Laura Martin - Needham

Operator

Greetings. Welcome to The Trade Desk Third 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.

Chris Toth

Thank you, operator. Hello and good afternoon to everyone. Welcome to The Trade Desk third quarter 2023 earnings conference call. On the call today are Founder and CEO, Jeff Green; and Chief Financial Officer, Laura Schenkein. A copy of our earnings press release can be found on our website at thetradedesk.com in the Investor Relations section.

Before we begin, I would like to remind you that except for historical information, some of the discussion and our responses in Q&A may contain forward-looking statements which are dependent upon certain risks and uncertainties. These forward-looking statements represent our beliefs and assumptions only as of the date such statements are made. Actual results may vary significantly and we expressly assume no obligations to update any of our forward-looking statements. Should any of our beliefs or assumptions prove to be incorrect, actual financial results could differ materially from our projections or those implied by these forward-looking statements. I encourage you to refer to the risk factors referenced in our press release and included in our most recent SEC filings. In addition to reporting our GAAP financial results, we present supplemental non-GAAP financial data. A reconciliation of the GAAP to non-GAAP measures can be found in our earnings press release. We believe that providing non-GAAP measures, combined with our GAAP results, provides a more meaningful representation of the company's operational performance.

With that, I'll now turn the call over to Founder and CEO, Jeff Green. Jeff?

Jeffrey Green

Thanks, Chris and thank you all for joining us today. As you've seen from our press release, we posted very strong growth in the third quarter. We reported revenue of $493 million, growing 25% compared with last year. Our third quarter again accelerated over the second quarter as we continued to significantly outperform the digital advertising industry. We're growing our revenues and maintaining profitability and a strong balance sheet and making large investments and, most importantly, we're gaining market share as we're outperforming our advertising peers, both big and small.