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

122,224

108,318

96,808

97,678

89,221

88,140

65,516

55,453

54,959

50,798

44,267

37,682

26,431

20,482

0

0

0

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

23,683

21,662

18,961

16,269

14,027

11,822

10,159

8,850

7,967

7,209

6,343

5,334

4,472

3,798

0

0

0

Stock-based compensation

87,854

80,758

70,620

62,595

50,796

42,210

36,869

31,345

26,278

21,317

16,414

11,177

7,219

5,056

0

0

0

Change in fair value of preferred stock warrant liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

9,458

0

0

0

Allowance for credit losses on accounts receivable

3,788

2,702

0

0

0

-

-

-

-

4,289

5,449

5,054

5,151

1,890

0

0

0

Investment credit loss

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncash lease expense

24,875

21,894

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other

-891

1,939

2,436

1,876

-2,925

-2,905

-2,405

-2,390

670

1,303

578

123

-735

-1,160

0

0

0

Changes in operating assets and liabilities:
Accounts receivable

248,049

331,369

197,904

184,566

155,056

239,901

174,157

268,131

241,439

224,636

200,629

149,535

151,527

187,736

0

0

0

Prepaid expenses and other assets

28,808

19,597

18,978

19,809

16,356

10,551

8,334

-3,908

791

5,033

7,546

12,206

3,975

2,675

0

0

0

Accounts payable

124,682

191,763

159,078

114,518

88,487

177,675

117,134

211,540

210,035

171,793

166,986

125,573

128,048

209,483

0

0

0

Accrued expenses and other liabilities

12,226

6,845

6,322

10,486

11,870

17,289

12,654

9,762

10,071

8,371

12,976

13,412

14,384

14,722

0

0

0

Operating lease liabilities

-9,949

-10,342

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

103,202

60,205

136,331

95,000

84,507

86,603

62,738

55,604

65,771

31,224

43,075

40,414

35,406

75,031

0

0

0

INVESTING ACTIVITIES:
Purchases of investments

174,531

212,776

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Maturities of investments

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment

47,918

35,693

31,071

30,212

24,082

19,795

12,136

9,988

8,306

10,110

11,725

11,555

10,102

6,884

0

0

0

Capitalized software development costs

4,459

4,911

4,905

5,044

5,955

5,396

4,815

3,915

3,165

2,954

3,020

3,056

2,439

2,337

0

0

0

Net cash used in investing activities

-98,189

-163,841

-158,336

-135,264

-103,987

-25,191

-19,951

-16,903

-14,471

-16,064

-14,745

-14,611

-12,541

-9,221

0

0

0

FINANCING ACTIVITIES:
Proceeds from line of credit

0

-

-

-

-

-

-

-

-

-

-

-

-

75,847

0

0

0

Repayment on line of credit

-

-

-

-

-

27,000

0

0

0

-

-

-

-

65,000

0

0

0

Repayment of term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

30,000

0

0

0

Payment of debt financing costs

-

6

0

0

0

-

-

-

-

-

-

-

-

976

0

0

0

Payment of financing obligations

-

-

-

-

-

-

-

-

-

1,001

901

736

634

550

0

0

0

Proceeds from exercise of stock options

39,692

29,874

24,767

23,787

18,311

10,021

7,962

4,650

3,502

2,565

1,823

1,427

702

488

0

0

0

Taxes paid related to net settlement of restricted stock awards

23,081

19,334

10,819

9,767

7,462

6,677

0

0

0

-

-

-

-

-

-

-

-

Proceeds from issuance of Series C convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

60,000

0

0

0

Repurchase of preferred stock and common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

54,000

0

0

0

Payment of stock repurchase costs

-

-

-

-

-

-

-

-

-

-

-

-

-

155

0

0

0

Payment of Series C convertible preferred stock offering cost

-

-

-

-

-

-

-

-

-

-

-

-

-

129

0

0

0

Payment of offering costs—initial public offering

-

-

-

-

-

-

-

-

-

-

-

-

-

4,326

0

0

0

Net cash provided by financing activities

176,357

27,280

29,102

29,173

24,369

-10,130

-9,236

-12,879

-18,921

7,390

-19,500

52,446

52,849

63,543

0

0

0

Increase (decrease) in cash and cash equivalents

181,370

-76,356

7,097

-11,091

4,889

51,282

33,551

25,822

32,379

22,550

8,830

78,249

75,714

129,353

0

0

0

SUPPLEMENTAL CASH FLOW INFORMATION:
Capitalized assets financed by accounts payable

17,965

9,252

-2,712

48

2,618

1,944

6,380

2,363

-173

701

2,632

4,239

5,128

3,490

0

0

0

Asset retirement obligation

3,482

3,543

4,064

1,181

692

907

0

0

0

-

-

-

-

-

-

-

-

Tenant improvements paid by lessor

-

-

-

-

-

-

-

-

-

640

0

0

0

-

-

-

-

Debt financing costs included in accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Stock-based compensation included in capitalized software development costs

1,431

1,588

1,562

1,515

1,796

1,485

1,282

1,112

642

543

532

273

132

88

0

0

0

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

18,033

16,923

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

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

149,607

150,467

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Net exercise of warrants to purchase Series Seed convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

3,789

0

0

0