Trade Desk replaces four C-suite roles, forecasts 12% revenue drop

Advertising tech firm The Trade Desk has completed a rapid overhaul of its top team, replacing four C-suite roles in under two months, and now predicts a sharp drop in revenue as it issues its first public forecast under the new leadership.

The shake-up began in mid-June and finished by late July. The company brought in a new chief financial officer on July 9, followed by a new chief marketing officer, then a chief commercial officer on July 27. A chief business development officer was also named during that period. The changes came as the company faces slowing growth and margin pressure across its programmatic advertising business, which relies on automated ad-buying technology used by brands and agencies.

On Thursday, the freshly staffed leadership team gave its first revenue outlook. The Trade Desk now expects third-quarter revenue of at least $650 million, down about 12% from $739 million in the same quarter last year. Shares plunged 6.8% during the session and fell another 25% in after-hours trading, hitting around $14 — down roughly 85% from a 52-week high of $91.45. The guidance also signals a steep drop in profitability: adjusted EBITDA is forecast at about $160 million, less than half the $317 million earned a year ago. The EBITDA margin is expected to fall to around 25%, down from 43% in the year-ago period.

The slowdown has been building for a year. Revenue growth has fallen from 18% in Q3 2025 to 12% in Q1 2026, then 3% in Q2, and now a decline in Q3. CEO Jeff Green said growth was “below our expectations and below the standard we hold ourselves to.” He pointed to economic pressures, including higher tariffs and oil prices hitting consumer goods and auto advertisers, which together make up about a quarter of The Trade Desk’s business. Some advertisers are also shifting spend to cheaper, less automated media deals, further squeezing revenue. The new leadership now faces the challenge of stabilizing growth and restoring investor confidence amid a tough macroeconomic backdrop.