Business Context and Reporting Period
This Form 8-K is a Current Report filed by The Trade Desk, Inc. (TTD) on January 24, 2026. The filing addresses two primary events: the appointment of an interim Chief Financial Officer (CFO) and an update regarding the company's financial results for the quarter and fiscal year ended December 31, 2025.
Key Financial Metrics and Operational Status
The filing does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity for the period ended December 31, 2025. Instead, it references a press release stating that the company is finalizing these results. Management expects the reported revenue and adjusted EBITDA to be consistent with previously issued guidance. The official earnings announcement is scheduled for February 25, 2026.
Material Changes and Executive Leadership
A significant material change involves the departure of Alexander Kayyal, who served as Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer. His employment was terminated effective January 24, 2026. He is expected to remain on the Board of Directors through the 2026 annual meeting of stockholders.
Effective January 24, 2026, Tahnil Davis was appointed as the new Principal Accounting Officer and Interim Chief Financial Officer. Ms. Davis has been with the company since April 2015, most recently serving as Executive Vice President and Chief Accounting Officer. The company intends to conduct an external search for a permanent CFO.
Compensation and Employment Terms
Ms. Davis's employment agreement includes the following compensation terms:
- Base Salary: $567,000 annually.
- Target Annual Bonus: Prorated to $267,500 for the period January 1–22, 2026, and $567,000 for the remainder of the year.
- Retention Bonus: A prorated quarterly bonus of $187,500 payable during each quarter she serves as interim CFO and for the three-month period following the start of a permanent CFO's employment.
Guidance, Outlook, and Risks
Management reaffirms that expected revenue and adjusted EBITDA for the fourth quarter and full year 2025 align with prior guidance. The filing includes standard forward-looking statement disclaimers, noting that actual results may differ materially due to risks and uncertainties beyond the company's control. No new specific risks or contingencies were disclosed in this filing beyond those previously reported in the company's 10-K and 10-Q filings.
Investor Verification Checklist
- Verify the specific revenue and adjusted EBITDA figures when the earnings release is published on February 25, 2026.
- Monitor the timeline and outcome of the external search for a permanent Chief Financial Officer.
- Review the full text of Ms. Davis's employment agreement when filed in the 2025 Form 10-K for complete terms.
- Confirm Alexander Kayyal's continued status on the Board of Directors and any potential conflicts of interest.