Trade desk, inc. (TTD)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16
OPERATING ACTIVITIES:
Net income

24,057

50,945

19,422

27,800

10,151

39,435

20,292

19,343

9,070

16,811

10,229

18,849

4,909

10,280

3,644

7,598

-1,040

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

6,477

6,416

5,969

4,821

4,456

3,715

3,277

2,579

2,251

2,052

1,968

1,696

1,493

1,186

959

834

819

Stock-based compensation

22,965

24,390

19,442

21,057

15,869

14,252

11,417

9,258

7,283

8,911

5,893

4,191

2,322

4,008

656

233

159

Change in fair value of preferred stock warrant liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

4,653

422

4,383

Allowance for credit losses on accounts receivable

1,310

1,055

804

619

224

-

-

-

-

346

483

113

3,347

1,506

88

210

86

Investment credit loss

275

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncash lease expense

7,402

6,500

6,459

4,514

4,421

-

-

-

-

-

-

-

-

-

-

-

-

Other

-3,209

-1,006

889

2,435

-379

-509

329

-2,366

-359

-9

344

694

274

-734

-111

-164

-151

Changes in operating assets and liabilities:
Accounts receivable

-210,552

328,630

7,726

122,245

-127,232

195,165

-5,612

92,735

-42,387

129,421

88,362

66,043

-59,190

105,414

37,268

68,035

-22,981

Prepaid expenses and other assets

15,791

573

7,064

5,380

6,580

-46

7,895

1,927

775

-2,263

-4,347

6,626

5,017

250

313

-1,605

3,717

Accounts payable

-205,967

213,164

30,536

86,949

-138,886

180,479

-14,024

60,918

-49,698

119,938

80,382

59,413

-87,940

115,131

38,969

61,888

-6,505

Accrued expenses and other liabilities

892

10,023

3,134

-1,823

-4,489

9,500

7,298

-439

930

4,865

4,406

-130

-770

9,470

4,842

842

-432

Operating lease liabilities

-2,673

-1,874

-2,620

-2,782

-3,066

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

52,708

-28,068

67,467

11,095

9,711

48,058

26,136

602

11,807

24,193

19,002

10,769

-22,740

36,044

16,341

5,761

16,885

INVESTING ACTIVITIES:
Purchases of investments

35,705

34,597

55,747

48,482

73,950

-

-

-

-

-

-

-

-

-

-

-

-

Maturities of investments

39,180

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment

18,310

14,034

4,657

10,917

6,085

9,412

3,798

4,787

1,798

1,753

1,650

3,105

3,602

3,368

1,480

1,652

384

Capitalized software development costs

965

1,062

1,429

1,003

1,417

1,056

1,568

1,914

858

475

668

1,164

647

541

704

547

545

Net cash used in investing activities

-15,800

-15,973

-28,438

-37,978

-81,452

-10,468

-5,366

-6,701

-2,656

-5,228

-2,318

-4,269

-4,249

-3,909

-2,184

-2,199

-929

FINANCING ACTIVITIES:
Proceeds from line of credit

143,000

-

-

-

-

-

-

-

-

-

-

-

-

0

15,000

5,000

55,847

Repayment on line of credit

-

-

-

-

-

0

0

0

27,000

-

-

-

-

25,000

20,000

0

20,000

Repayment of term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

30,000

Payment of debt financing costs

-

0

-1

1

6

-

-

-

-

-

-

-

-

0

0

201

775

Payment of financing obligations

-

-

-

-

-

-

-

-

-

324

356

208

113

224

191

106

29

Proceeds from exercise of stock options

19,320

7,963

4,936

7,473

9,502

2,856

3,956

1,997

1,212

797

644

849

275

55

248

124

61

Taxes paid related to net settlement of restricted stock awards

4,893

14,590

1,110

2,488

1,146

6,075

58

183

361

-

-

-

-

-

-

-

-

Proceeds from issuance of Series C convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

60,000

Repurchase of preferred stock and common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

54,000

Payment of stock repurchase costs

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

85

70

Payment of Series C convertible preferred stock offering cost

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

56

73

Payment of offering costs—initial public offering

-

-

-

-

-

-

-

-

-

-

-

-

-

1,758

976

1,487

105

Net cash provided by financing activities

157,427

1,471

3,827

13,632

8,350

3,293

3,898

8,828

-26,149

4,187

255

2,786

162

-22,703

72,201

3,189

10,856

Increase (decrease) in cash and cash equivalents

194,335

-42,570

42,856

-13,251

-63,391

40,883

24,668

2,729

-16,998

23,152

16,939

9,286

-26,827

9,432

86,358

6,751

26,812

SUPPLEMENTAL CASH FLOW INFORMATION:
Capitalized assets financed by accounts payable

10,200

7,284

1,274

-793

1,487

-4,680

4,034

1,777

813

-244

17

-759

1,687

1,687

1,624

130

49

Asset retirement obligation

65

0

2,928

489

126

521

45

0

341

-

-

-

-

-

-

-

-

Tenant improvements paid by lessor

-

-

-

-

-

-

-

-

-

0

0

0

640

-

-

-

-

Debt financing costs included in accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

201

Stock-based compensation included in capitalized software development costs

298

319

481

333

455

293

434

614

144

90

264

144

45

79

5

3

1

Cash paid for amounts included in the measurement of lease liabilities included in operating cash flows

4,902

4,655

4,559

3,917

3,792

-

-

-

-

-

-

-

-

-

-

-

-

Right-of-use assets obtained in exchange for operating lease liabilities

34,155

2,785

99,072

13,595

35,015

-

-

-

-

-

-

-

-

-

-

-

-

Stock repurchase costs and Series C convertible preferred stock offering costs included in accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

141

Deferred initial public offering costs and stock repurchase costs included in accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,287

40

431

Net exercise of warrants to purchase Series Seed convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,789