The Trade Desk reported a 29 percent increase in net income in its fiscal year 2016 earnings statement Feb. 16 and filed a proposal with the Securities and Exchange Commission for a follow-on stock offering.

The Ventura advertising platform company made $10.3 million in the fourth quarter of 2016 for a total of $20.5 million during the year, up from $5.7 million and $15.9 million respectively in 2015. Revenues increased 69.5 percent quarter-over-quarter to $72.4 million and 78.3 percent for the full year to $202.9 million.

Earnings per share came to 24 cents for the quarter, beating analyst estimates of 20 cents. For the year, the company reported a loss of $26.7 million, or $1.49 per share.

The company stated expectations of $270 million in revenue on $1.45 billion in gross spending on the platform for the year. It had $133.4 million in cash on hand for the quarter ended Dec. 31 and $537.6 million in liabilities.

The company expects to make significant investments in the video, mobile and global markets in 2017, CEO Jeff Green said on a conference call, calling them “critical to grabbing share and deepening our engagement and strategic importance with our customers.”

“This will cause our expenses to grow at a faster rate in 2017 and, as a result, we see our adjusted EBITDA margin at about 26 percent,” Green said. “We are not aiming to maximize profit this year but we believe we are doing the best thing for the growth of our business and ultimately profitability over the long term.”

The Trade Desk also announced inventory partnerships with Indonesian company Ambient and Chinese company Baidu.

The Trade Desk will not receive proceeds from the proposed follow-on offering, the company said. Citigroup, Jefferies and RBC will manage the offering of Class A common stock, which will come from existing shareholders.

Shares rose 5.34 percent to $33.36 after the midday announcement, and another 3.36 percent in after-hours trading to $34.25 as of 4:27 p.m. PST.

• Contact Marissa Nall at mnall@pacbiztimes.com.