NASDAQ Shariah screener · October 2026

Is The Trade Desk, Inc. (TTD) Halal?

PASS

The Trade Desk, Inc. · NASDAQ: TTD · Technology

The short answer

The Trade Desk passes all three Shariah gates: it operates a permissible ad-tech software business, carries zero interest-bearing debt (0.0% of its ~$5.8 billion market cap), and interest income of about 1.6% of revenue is well under the 5% ceiling.

Gate 1 — Business activity: PASS

The Trade Desk, Inc. (NASDAQ: TTD), founded in 2009 and headquartered in Ventura, California, is a technology company. Per its FY2025 Form 10-K, it operates a self-service, cloud-based platform that enables advertising agencies and other advertisers to purchase and manage data-driven digital advertising campaigns across display, video, audio, native and social channels on computers, mobile devices and connected TV. The company earns revenue from a percentage of client ad spend (its take rate) plus additional platform features - a software and services business, not interest-based lending. It produces no alcohol, tobacco, gambling, pork or other haram goods. Its filings do not disclose a breakdown of its advertiser customer mix, so there is no filed evidence of material non-compliant revenue segments.

Gate 2 — Debt and cash: PASS

Per The Trade Desk's Q2 2026 Form 10-Q (Consolidated Balance Sheet, June 30, 2026; $ thousands; cross-verified via the August 6, 2026 Q2 earnings release), the company carries no interest-bearing debt: the balance sheet lists no short-term borrowings and no long-term debt - its liabilities consist of accounts payable ($2,562,580K), accrued expenses ($150,174K), operating lease liabilities ($80,922K current + $353,188K non-current) and other non-current liabilities ($43,230K). Its only credit arrangement is a $450 million revolving credit facility (FY2025 10-K, Note 6 - Debt), which was undrawn at June 30, 2026 (the Q2 cash flow statement shows zero proceeds from short-term borrowings). $0 of interest-bearing debt against a market cap of about $5.79 billion (Finnhub, October 2, 2026) is 0.0%, well under the 33% ceiling. Cash and cash equivalents ($1,122,979K) plus short-term investments ($362,354K) total about $1.49 billion, roughly 25.7% of market cap.

Gate 3 — Non-compliant income: PASS

The Trade Desk's Q2 2026 earnings release (furnished with the SEC on August 6, 2026) separately discloses an 'Interest income, net' line in its Adjusted EBITDA reconciliation: $11,508K in Q2 2026 against revenue of $715,057K - about 1.61%, and $24,877K in the first half of 2026 against revenue of $1,403,914K - about 1.77%. Both periods are well under the 5% non-compliant income ceiling.

Key figures used

Business: demand-side programmatic advertising platform - software/services for ad agencies and advertisers buying digital ad inventory (display, video, audio, native, social; connected TV, mobile, computers); founded 2009; HQ Ventura, California; ~3,850 employees (before the announced 15% Q3 2026 workforce reduction)
No haram segments: no interest-based lending, no alcohol/tobacco/gambling production; 10-K discloses no advertiser customer mix breakdown
Debt: $0 interest-bearing debt at June 30, 2026 - no borrowings on the balance sheet; $450M revolving credit facility undrawn; 0.0% of ~$5.79B market cap (Finnhub, Oct 2, 2026) - well under the 33% ceiling
Cash: $1,122,979K cash and cash equivalents + $362,354K short-term investments = ~$1.49B (~25.7% of market cap)
Interest income, net: $11,508K in Q2 2026 vs $715,057K revenue = 1.61% - well under the 5% ceiling (H1 2026: $24,877K / $1,403,914K = 1.77%)
Market data: NASDAQ-listed; still listed on Nasdaq (removed from the S&P 500 on September 21, 2026; dual-class Class A/Class B structure; Class A is the traded share)
Third-party: Musaffa classifies TTD as halal under its AAOIFI methodology as of October 2026

Frequently asked questions

What does The Trade Desk do?

The Trade Desk, Inc. (NASDAQ: TTD) is a technology company founded in 2009 and headquartered in Ventura, California. Per its FY2025 Form 10-K, it operates a self-service, cloud-based platform that allows advertising agencies and other advertisers to purchase and manage data-driven digital advertising campaigns across various ad formats and channels, including display, video, audio, native and social, on a multitude of devices such as computers, mobile devices and connected TV.

Is The Trade Desk's business Shariah compliant?

The Trade Desk operates a demand-side advertising platform - it sells software and services to advertisers and ad agencies that buy digital ad inventory. It does not produce alcohol, tobacco, gambling, pork or other haram goods, and it has no interest-based lending business. Its 10-K does not disclose a breakdown of its advertiser customer mix, so there is no filed evidence of material non-compliant revenue segments.

How much interest-bearing debt does The Trade Desk have?

The Trade Desk's interest-bearing debt is zero: its June 30, 2026 balance sheet (Q2 2026 Form 10-Q) lists no short-term borrowings or long-term debt - its liabilities are accounts payable, accrued expenses, operating lease liabilities and other non-current liabilities. Its only credit arrangement is a $450 million revolving credit facility (FY2025 10-K, Note 6) that was undrawn at June 30, 2026. Zero debt against a market cap of about $5.8 billion is 0.0%, well under the 33% ceiling.

How much interest income does The Trade Desk earn?

The Trade Desk's Q2 2026 earnings release discloses 'Interest income, net' as a separate line in its Adjusted EBITDA reconciliation: $11.5 million in Q2 2026 against revenue of $715.1 million (about 1.6%), and $24.9 million in the first half of 2026 against revenue of $1,403.9 million (about 1.8%). Both are well under the 5% non-compliant income ceiling.

Do other Shariah screeners rate The Trade Desk as halal?

Musaffa classifies The Trade Desk (TTD) as halal under its AAOIFI-based screening methodology as of October 2026, which is consistent with this screener's PASS result. No Zoya or ShariaPortfolio rating was verifiable at the time of screening. Third-party ratings can change when new financial statements are published, so always check the latest screening before investing.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).