Ad tech firms The Trade Desk and TechTarget report revenue declines

The Trade Desk (TTD) announced a rapid rebuild of its senior leadership, adding a new chief financial officer, chief marketing officer, chief commercial officer and chief business development officer within two months. The refreshed team issued the company's first guidance since the changes, projecting third‑quarter revenue of at least $650 million – roughly a 12% decline from the same quarter a year earlier – and adjusted EBITDA of about $160 million, roughly half of the prior year’s level. The outlook prompted the stock to fall sharply in trading and after‑hours.

TechTarget reported second‑quarter revenue of $116.1 million, down 3.2% year‑over‑year, as customers delayed marketing and sales commitments amid macro‑economic uncertainty and a growing focus on AI‑related research and development. Adjusted EBITDA for the quarter was $15.1 million, yielding a 13% margin, and the net loss narrowed to $21.7 million from $398.7 million a year earlier. The CEO highlighted the shift toward AI‑driven buyer behavior and the company's continued investment in AI‑enabled products.