Revenue was higher than analysts’ consensus forecast for $213 million, and adjusted earnings per share crushed an average estimate of $1.17.
Also notable was the tech company‘s impressive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). Adjusted EBITDA for the period was $83.5 million, or 39% of revenue. Management had guided for adjusted EBITDA of $78.5 million.
“We continue to deliver strong revenue growth while also generating profitability that is significantly higher than nearly all other comparable software and internet companies of our size,” CEO Jeff Green said in the company’s fourth-quarter update.
Ad spend on connected TV continued to serve as a significant catalyst for The Trade Desk, as more viewers shift to streaming TV and as advertisers shift more ad spend to streaming platforms.
Connected-TV ad spend on The Trade Desk’s platform increased about 100% year over year in Q4 and 137% year over year for the full year.
Audio, mobile video, and mobile in-app also remain important catalysts for The Trade Desk, with full-year ad spend in these channels growing 185%, 50%, and 67%, respectively.