The Trade Desk (TTD) reported its Q4 2024 earnings, revealing mixed results that led to a sharp decline in its stock price. The company posted adjusted EPS of $0.59, exceeding estimates of $0.57, but missed revenue expectations with $741 million compared to the $758.9 million forecast. This marked the first revenue miss in 33 quarters, attributed to slower-than-expected adoption of its Kokai platform and other execution missteps. Adjusted EBITDA for the quarter was $350 million, with a margin of 47%, and customer retention remained above 95%. The company also provided a weaker-than-expected Q1 2025 revenue guidance of at least $575 million, below the $591.8 million consensus. Despite achieving a 22% year-over-year revenue growth in Q4 and a 26% increase for the full year to $2.4 billion, shares plunged by as much as 29.2% post-earnings. CEO Jeff Green acknowledged the missteps and announced plans for a significant organizational overhaul, including a 15-point action plan to address challenges and improve execution. The company aims to expand its direct brand relationships and enhance its AI-driven platform capabilities.