2017 gross spend on the platform was over $1.55 billion, a 51% increase from a year ago. According to Magna Global, total real-time-bidding programmatic was estimated to increase 27% in 2017.
Meanwhile, The Trade Desk ended 2017 with 657 active customers and customer retention remained over 95% during the quarter, as it has for the previous 16 quarters.
2017 Mobile spend surpassed display spend for the first time driven by newer channels such as mobile video. Omnichannel solutions remain a strategic focus for The Trade Desk as the industry continues shifting toward transparency and programmatic buying. Also, throughout 2017, the company released many new product features and enhancements to its platform.
The company said, "The fourth quarter was outstanding for the Trade Desk and a capstone to a terrific 2017. For the year, we surpassed $1.55 billion in gross spend on our platform, grew revenue 52% to more than $308 million and generated over $95 million of adjusted EBITDA. Our mission has always been to change the way advertising is bought on our software platform and 2017 marked a year of great strides toward that goal. Exiting the year, we had more of the largest brands in the world spending on our platform than ever before as they recognize we are the only purely independent platform buying media at scale, objectively, across digital channels and devices. We also invested more into technology and product development than we ever have before to help drive our next stage of growth in the coming years. We expect 2018 to be another record year for the company as we continue to see great momentum in the adoption of programmatic advertising on our platform worldwide."
Also, looking ahead, the company provided upside financial guidance, which is a big driver this morning giving the stock a boost.
In the first quarter, the company expects to see revenue of $73.00 million, easily coming in ahead of expectations. Adjusted EBITDA is expected to be $7.5 million.
For the full year fiscal 2018, the company expects to see revenue of at least $403 million, which also comes in ahead of expectations. Adjusted EBITDA is expected to be $117 million or about 29% of revenue.
In current trade, the stock is sitting near today's high of $59.84, now over 22% higher