The Trade Desk runs a self-service cloud platform where ad agencies plan, buy, and optimize digital campaigns across TV, video, and social media—like a Bloomberg terminal for ad buyers.
Money comes from platform usage fees and data services, with gross margins around 78% and net margins near 15% on USD 2.90B annual revenue. Recurring, software-like revenue from agencies.
Switching costs are high because agencies build workflows and data integrations on the platform, and its independent, neutral position lets it buy inventory across Google, Amazon, and Meta without conflict. Moat is eroding as Google and Amazon push their own a
Sell (sector percentile 16) — value B+, growth C, profitability A, momentum F, revisions D. Updated daily, sector-relative, identical for every user.
Key events, in time order
Revenue growth fell from 43.1% YoY in 2021 to 11.6% LTM; analysts expect -3.5% in 2026
13F filing shows institutional trimming in Q1, reflecting repositioning
Advertisers can activate convenience store retail data for digital advertising in Japan
Q1 revenue of $689 million, representing 12% year-over-year growth
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The Trade Desk is in a Stage 4 declining trend according to the Weinstein framework, with price below the 30-week SMA and a bearish primary trend.
Main discussion
Weinstein Stage 4: $CIFR $TTD $ASTS $ORCL All four are currently in Stage 4: Declining under Weinstein’s framework, signaling deteriorating trend structure. Price is below the 30 week SMA with the moving average rolling over, keeping the primary trend bearish. Until these names r
Clearly Rene has never opened up AppLovin’s financials and is being guided by sentiment here instead of actual numbers 1. $APP is wildly profitable with 80% EBIT margins. Growth slowing isnt a result of them switching from growth to profits 2. Mean reversion argument doesnt make
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