---
title: "The Trade Desk: Business Model"
description: "The Trade Desk revenue by region from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/the-trade-desk/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# The Trade Desk: Business Model & Revenue Engine

## Direct Answer

The Trade Desk reports revenue across 2 geographic regions in its fiscal 2025 Form 10-K. United States is the largest, with $2.5 billion of revenue (86% of the total), followed by Outside the United States at $420 million (14%). 86% of revenue came from the United States.

## How Does The Trade Desk Make Money?

United States supplies 86% of revenue, so The Trade Desk's results move mostly with that one region; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Outside the United States grew fastest (+34.8%) and United States slowest (+16.1%), so the revenue mix tilts toward Outside the United States while that gap lasts.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United States | $2.5 billion | $2.1 billion | 85.5% | 16.1% |
| Outside the United States | $420 million | $311 million | 14.5% | 34.8% |

![Bar chart of The Trade Desk revenue by region for fiscal 2025: United States 85.5%, Outside the United States 14.5%.](https://www.getswoopr.com/images/charts/the-trade-desk-business-model-segment-mix.webp)
*The Trade Desk revenue by region as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## What the Segment Figures Do Not Show

The rows above add up to 100% of The Trade Desk's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value The Trade Desk reported in the segment note and revenue disclosures of its Form 10-K filed February 27, 2026 (accession 0001671933-26-000014), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are The Trade Desk's main regions?

In its fiscal 2025 Form 10-K, The Trade Desk reports revenue for United States and Outside the United States.

### Which part of The Trade Desk brings in the most revenue?

United States, with $2.5 billion of revenue in fiscal 2025, or 86% of the total.

### How much of The Trade Desk's revenue comes from outside the United States?

14% in fiscal 2025, by the geographic breakdown The Trade Desk reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: Trade Desk, Inc. Form 10-K filed February 27, 2026](https://www.sec.gov/Archives/edgar/data/1671933/000167193326000014/ttd-20251231.htm)
- [SEC EDGAR: Trade Desk, Inc. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1671933&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [The Trade Desk company dossier](https://www.getswoopr.com/stocks/companies/the-trade-desk/)
- [The Trade Desk financial metrics](https://www.getswoopr.com/stocks/companies/the-trade-desk/metrics/)
- [The Trade Desk financial risk indicators](https://www.getswoopr.com/stocks/companies/the-trade-desk/risks/)
- [The Trade Desk peer comparison](https://www.getswoopr.com/stocks/companies/the-trade-desk/competitors/)
- [The Trade Desk business model and revenue mix](https://www.getswoopr.com/stocks/companies/the-trade-desk/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).