Finally, an ad tech IPO! The Trade Desk has filed documents to go public

Jeff greenLinkedInJeff Green, president and chief executive officer of The Trade Desk.

California-based ad tech company The Trade Desk plans to raise $86.3 million in its initial public offering

The demand-side platform, which allows advertisers to buy online ads using automated technology, filed its S-1 document with the US Securities Exchange Commission on Monday, outlining its plans to go public on the NASDAQ.

If it goes ahead, it will mark the first ad tech IPO since MaxPoint Interactive went public in March 2015. The Trade Desk’s stock ticker will be “TTD.”

The filings reveal The Trade Desk’s financials for the first time.

In 2015, the company generated $113.8 million in revenue, up 155.5% year-on-year.

Unlike many businesses in the ad tech sector, The Trade Desk is profitable. Adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) came in at $39.2 million, up 589% year-on-year.

For the first six months of 2016, The Trade Desk generated $77.6 million in revenue and adjusted EBITDA of $20.1 million.

As of June 30, 2016, the company had $37.6 million in cash on its balance sheet, total assets of $294 million, and total liabilities of $240 million.

The Trade Desk says in the filing it had approximately 389 clients at the end of 2015, the majority of which were advertising agencies based in the US.

As of June 30, 2016, the company had 387 employees, 296 of those based in the US.

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