The numbers

$ 739 million : Revenue for Q3 2025, up 18% year-over-year (vs. $628 million in Q3 2024).

20% : YoY revenue growth for the first nine months of 2025. Growth was 27% during the same period last year.

85% : The number of The Trade Desk clients using its core platform Kokai, with the bulk of spend running through it. In Q2, three-quarters of its clients were on Kokai.

Watercooler talk

It seems as if clients are finally listening to the Trade Desk’s messaging around its Kokai user interface. After a great deal of friction , 85% of clients are now using it. CEO Jeff Green continued to tout the benefits during the call, claiming it drove a 26% improvement in cost per acquisition, 58% better cost per unique reach, and a 94% higher click-through rate.

Despite the win o

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