| Stage | APP | % of rev | TTD | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $1.9B | 100.00% | $715M | 100.00% | APP ×2.69 |
| Gross profit | $1.7B | 88.26% | $531M | 74.22% | APP +14.0pp |
| Operating income | $1.5B | 77.68% | $102M | 14.21% | APP +63.5pp |
| Pre-tax income | $1.5B | 78.26% | $113M | 15.82% | APP +62.4pp |
| Net income | $1.3B | 65.84% | $64M | 9.01% | APP +56.8pp |
| Stage | APP | TTD | Gap · A − B |
|---|---|---|---|
| Revenue | $1.9B100.00% | $715M100.00% | APP ×2.69 |
| Gross profit | 88.26%$1.7B | 74.22%$531M | APP +14.0pp |
| Operating income | 77.68%$1.5B | 14.21%$102M | APP +63.5pp |
| Pre-tax income | 78.26%$1.5B | 15.82%$113M | APP +62.4pp |
| Net income |
| 65.84%$1.3B |
| 9.01%$64M |
| APP +56.8pp |
APP 10-KFeb 19 '26
“Advertising clients include a wide variety of advertisers, from indie developer studios to some of the largest global internet platforms, such as Meta and Google.”
TTD 10-KFeb 21 '25
“For example, Google is one of our largest advertising inventory suppliers in addition to being one of our competitors.”