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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“We went live with one of the largest demand site platforms, the Trade Desk. This expands our share of the broader digital dollars to flow to Best Buy Ads.”
Best Buy Ads went live with The Trade Desk, one of the largest demand-side advertising platforms, expanding the share of programmatic ad dollars flowing to Best Buy's retail media business.
“Last quarter you signed a deal with The Trade Desk.”
DoorDash signed a demand-side-platform partnership with The Trade Desk in the prior quarter, part of DoorDash's build-out of its advertising business to serve more advertiser types.
“Another example, Best Western saw their booking rate double when using Kokai to target live sports opportunities, thanks to an 89% improvement in incremental reach with Kokai.”
Best Western doubled booking rate using The Trade Desk's Kokai for live-sports targeting, a strong customer performance win.
“IKEA, for example, is using Kokai to get a more intelligent perspective on how their ads perform across all channels.”
IKEA using Kokai's omnichannel optimization, cutting cost per acquisition 17%, a positive customer-usage read-through.
“Now Nestle plans to activate retail data across most of their future campaigns, including audio and other channels.”
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Vasily Karasyov | Cannonball Research | 6 (17%) |
| Justin Patterson | KeyBanc Capital Markets | 6 (0%) |
| Shyam Patil | Susquehanna |
Nestle expanding use of retail data across most future campaigns on The Trade Desk, a growing-client read-through.
“Cheerios ran a display campaign in the U.K. recently using retail data for audience targeting on Kokai. They saw 88% more conversions and 7x better CPA.”
General Mills' Cheerios brand saw strong campaign performance on The Trade Desk's Kokai platform using retail data.
“But if you look at companies like Coca-Cola or Hershey's or even the Hyundai and some of the forward-thinking auto brands, they are rethinking measurement.”
Hershey's cited as a forward-thinking CPG advertiser rethinking measurement and brand building with The Trade Desk.
“But if you look at companies like Coca-Cola or Hershey's or even the Hyundai and some of the forward-thinking auto brands, they are rethinking measurement.”
Coca-Cola cited as a forward-thinking advertiser leaning into growth targeting and new measurement, a positive read-through for its brand-building approach.
“I think Google was a far better competitor than Amazon is today or, frankly, will likely ever be.”
The Trade Desk positions Google (DV360) as historically its strongest DSP competitor while arguing objectivity conflicts limit both Google and Amazon.
“Amazon is mostly playing in selling their owned and operated inventory as well as trying to win on nondecisioned inventory.”
Jeff Green frames Amazon's DSP as conflicted, reliant on selling its own owned-and-operated inventory rather than objective decisioning.
“One of the world's leading appliance manufacturers recently ran a test between The Trade Desk and the Amazon DSP.”
In a head-to-head test the advertiser reached 70% more households at 30% lower cost and 6x better performance on The Trade Desk versus the Amazon DSP, a negative competitive read-through for Amazon's DSP.
“Publishers like Hearst are seeing a 4x improvement in ad fill rates and 23% revenue increase when integrating OpenPath.”
Hearst is cited as a publisher gaining materially better fill rates and revenue through OpenPath, a positive read-through for publishers adopting TTD's supply-path product.
“SSPs such as PubMatic are integrating with Deal Desk using the new price discovery provisioning API that helps sellers better understand and identify how sellers can increase the quality of their inventory.”
PubMatic is named as a supply-side platform integrating with The Trade Desk's Deal Desk, a read-through that PubMatic is aligning with TTD's price-discovery tooling.
“Bayer recently added Spotify to their omnichannel campaigns on Kokai and saw a 15% growth in their incremental reach.”
Spotify is cited as fast-growing audio inventory delivering incremental reach for advertisers on The Trade Desk's platform.
| 6 (0%) |
| Youssef Squali | Truist Securities | 5 (0%) |
| Jason Helfstein | Oppenheimer | 4 (25%) |
| Jessica Reif Ehrlich | Bank of America | 4 (0%) |
| Matt Swanson | RBC Capital Markets | 4 (0%) |
| Mark Mahaney | Evercore ISI | 3 (0%) |
| Tim Nollen | SSR | 2 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Cannonball Research | 1 | 6 (17%) |
| Susquehanna | 1 | 6 (0%) |
| KeyBanc Capital Markets | 1 | 6 (0%) |
| Truist Securities | 1 | 5 (0%) |
| Oppenheimer | 1 | 4 (25%) |
| Bank of America | 1 | 4 (0%) |
| RBC Capital Markets | 1 | 4 (0%) |
| Evercore ISI | 1 | 3 (0%) |
The Trade Desk closed FY2025 with Q4 revenue of $847M, up 14% year-over-year (19% excluding political), bringing full-year revenue to $2.9B with 18% growth and adjusted EBITDA margin returning to approximately 47%. CPG and auto weakness representing over 25% of the business continued to weigh on growth rates, but AI and agentic AI capabilities were positioned as competitive moats. Q1 2026 guidance of at least $678M reflected a 10% growth floor, with full-year free cash flow of $282M in Q4 alone.
Competitive Dynamics | Revenue Growth | Innovation & R&D | Cloud & AI | Macroeconomic | Product Launch | Regulation Policy | Capex Investment | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 2 | 1 | 1 | 1 | |||
| 2025Q1 | 4 | 1 | 1 | 1 | 1 | 2 | ||
| 2025Q2 | 3 | 3 | 1 | 2 | 1 | 3 | ||
| 2025Q3 | 2 | 2 | 1 | 1 | 1 | 1 | ||
| 2025Q4 | 3 | 5 | 2 | 2 | 1 | 1 | ||
| 2026Q1 | 5 | 5 | 2 | 3 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Competitive Dynamics | 4 | 4 | 3 | 2 | 3 | 5 |
| Revenue Growth | 2 | 1 | 3 | 2 | 5 | 5 |
| Innovation & R&D | 1 | 1 | 1 | 1 | 2 | 2 |
| Cloud & AI | 2 | 1 | 2 | 3 | ||
| Macroeconomic | 1 | 1 | 1 | 1 | 1 | 1 |
| Product Launch | 1 | 3 | 1 | |||
| Regulation Policy | 2 | 1 | ||||
| Capex Investment | 1 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
TTD The Trade Desk, Inc. | 8 | +11.8% | |
| ADSK Autodesk | 10 | +18.4% | |
| APP Applovin Corp | 9 | +24.1% | |
| CDNS Cadence Design Systems | 9 | +18.7% | |
| CRM Salesforce, Inc. | 9 | +13.3% | |
| DDOG Datadog | 10 | +32.1% | |
| FICO Fair Isaac | 9 | +38.7% | |
| INTU Intuit | 9 | +10.4% | |
| MSTR MicroStrategy Inc. | 7 | +11.9% | |
| NOW ServiceNow | 7 | +22.1% | |
| PTC PTC Inc. | 9 | +21.7% | |
| SHOP Shopify | 8 | +34.3% | |
| TEAM Atlassian | 7 | +31.7% | |
| TYL Tyler Technologies | 8 | +8.6% | |
| UBER Uber | 8 | +14.5% | |
| WDAY Workday, Inc. | 9 | +13.5% |