From the start of 2020 through the end of 2024, shares of advertising technology (adtech) company The Trade Desk were up an impressive 352%, trouncing the comparable 82% return for the S&P 500. In fact, this market-trouncing performance helped land The Trade Desk a spot in the S&P 500 index earlier this year. However, 2025 has been rough for shareholders.
We are pleased with our results for the quarter - we saw exciting liquidity services growth, executed on a successful Consensus conference, and prepared for what would be a successful IPO. We're excited that the work we did in the second quarter is already directly contributing to strong business momentum in the third quarter and beyond. Our recent receipt of the prestigious New York DFS Bitlicense is testament to our institutional rigor and truly global reach.
Digital Turbine recorded non-GAAP (adjusted) earnings per share of $0.05 on revenue of $130.92 million in fiscal Q1. While sales for the period beat the average Wall Street analyst estimate by roughly $9 million, the company's earnings per share came in $0.03 lower than the target.