TTD : EXPANSION BREAKOUT
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TTD broke out on earnings with strong price action supported by >300% volume compared to its 50-day trailing average.
Earnings Summary:
Revenues rose nearly 32% year-over-year, and headline net income more than doubled, to 41.2M.
Adjusted EBITDA rose to 77.2M from 47.8M (margin to 36% from 29%), and non-GAAP net income jumped to 62.7M from a year-ago 36.1M.
As a result of "several years of advertising disruption and innovation compressed into a few months," advertisers have "become more deliberate and data-driven with every advertising dollar," says CEO Jeff Green.
"As advertisers come under pressure to prove the ROI of their campaigns, to take advantage of the mass consumer shift to streaming TV, and to consider alternatives to user-generated content, our investments in these areas are paying off," Green continues.
In channel highlights, the company noted connected TV grew over 100% Y/Y; mobile video spend grew about 70%; and audio spend grew about 70%.
Customer retention stayed over 95% as it has for five years.
"Assuming that the economy continues to recover" and absent any major COVID-19 setbacks, it's guiding to Q4 revenues of 287M-291M (well above consensus for 255.1M), and adjusted EBITDA of at least 115M.
Earnings Summary:
Revenues rose nearly 32% year-over-year, and headline net income more than doubled, to 41.2M.
Adjusted EBITDA rose to 77.2M from 47.8M (margin to 36% from 29%), and non-GAAP net income jumped to 62.7M from a year-ago 36.1M.
As a result of "several years of advertising disruption and innovation compressed into a few months," advertisers have "become more deliberate and data-driven with every advertising dollar," says CEO Jeff Green.
"As advertisers come under pressure to prove the ROI of their campaigns, to take advantage of the mass consumer shift to streaming TV, and to consider alternatives to user-generated content, our investments in these areas are paying off," Green continues.
In channel highlights, the company noted connected TV grew over 100% Y/Y; mobile video spend grew about 70%; and audio spend grew about 70%.
Customer retention stayed over 95% as it has for five years.
"Assuming that the economy continues to recover" and absent any major COVID-19 setbacks, it's guiding to Q4 revenues of 287M-291M (well above consensus for 255.1M), and adjusted EBITDA of at least 115M.
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