Direct Digital Holdings, Inc.
Business
Direct Digital Holdings, Inc. operates an end-to-end advertising and marketing platform serving brands, agencies, and mid-market businesses across the digital advertising ecosystem. The company provides sell-side programmatic services through its proprietary Colossus SSP platform, which automates ad inventory sales from publishers to buyers, and buy-side services through Orange 142, which offers technology-enabled advertising solutions and consulting for small and mid-sized businesses. The company operates in both the sell-side and buy-side segments of programmatic advertising, serving approximately 174,000 advertisers on the sell-side and about 195 clients on the buy-side across multiple channels including OTT/CTV, display, video, mobile, and audio.
Summary from 10-K filed 2026-03-31
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenues | 35 | 62 | 157 | 89 | 38 | |
| Total cost of revenues | 24 | 45 | 120 | 60 | 20 | |
| Gross profit | 10 | 17 | 38 | 29 | 18 | |
| Compensation, taxes and benefits | 15 | 16 | 18 | 14 | 9 | |
| General and administrative | 11 | 14 | 13 | 7 | 6 | |
| Total operating expenses | 25 | 31 | 40 | 21 | 14 | |
| Loss from operations | −15 | −13 | −2 | 8 | 4 | |
| Other income | 77,000 | 199,000 | 256,000 | 48,000 | 19,185 | |
| Expenses and commitment shares for Equity Reserve Facility | −198,000 | −532,000 | 0 | — | — | |
| Loss on settlement of accounts payable | −267,000 | 0 | — | — | — | |
| Loss on debt extinguishment | −4 | 0 | −300,000 | — | −3 | |
| Loss on Exit Fee | −4 | 0 | — | — | — | |
| Derecognition of tax receivable agreement liability | 0 | 5 | 0 | — | — | |
| Interest expense and amortization of deferred financing cost and debt discount (premium), net | −5 | −5 | −4 | — | — | |
| Total other expense, net | −13 | −542,000 | −4 | −3 | −6 | |
| Loss before income taxes | −28 | −14 | −6 | 4 | −1 | |
| Income tax expense | 0 | 6 | 568,000 | — | — | |
| Net loss | −28 | −20 | −7 | 4 | — | |
| Net loss attributable to noncontrolling interest | −9 | −14 | −5 | 4 | — | |
| Net loss attributable to Direct Digital Holdings, Inc. | −19 | −6 | −2 | 205,000 | −2 | |
| Basic (in dollars per share) | −75.79 | −91.26 | −0.73 | 0.11 | −44.09 | |
| Diluted (in dollars per share) | −75.79 | −91.26 | −0.73 | 0.11 | −44.09 | |
| Basic (in shares) | 308,000 | 68,000 | 3 | 3 | 34,182 | |
| Diluted (in shares) | 308,000 | 68,000 | 3 | 3 | 34,182 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-09-30 | FY 2023 2023-06-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 700,000 | 1 | 5 | 5 | 6 | |
| Accounts receivable, net of provision for credit losses of $944 and $978 | 3 | 5 | 37 | 55 | 30 | |
| Prepaid expenses and other current assets | 890,000 | 2 | 759,000 | 1 | 1 | |
| Total current assets | 5 | 9 | 43 | 62 | 36 | |
| Property, equipment and software, net | 166,000 | 341,000 | 599,000 | 625,000 | 689,000 | |
| Goodwill | 7 | 7 | 7 | 7 | 7 | |
| Intangible assets, net | 8 | 10 | 12 | 12 | 13 | |
| Operating lease right-of-use assets | 702,000 | 832,000 | 788,000 | 675,000 | 714,000 | |
| Other long-term assets | 172,000 | 48,000 | 130,000 | 127,000 | 47,000 | |
| Total assets | 20 | 26 | 69 | 87 | 62 | |
| Accounts payable | 8 | 8 | 34 | 45 | 23 | |
| Liability related to tax receivable agreement, current portion | 41,000 | 41,000 | 41,000 | 41,000 | 40,000 | |
| Current maturities of long-term debt | 12 | 4 | 1 | 1 | 983,000 | |
| Deferred revenues | 500,000 | 500,000 | 400,000 | — | — | |
| Operating lease liabilities, current portion | 221,000 | 188,000 | 126,000 | 50,000 | 48,000 | |
| Total current liabilities | 26 | 13 | 40 | 55 | 29 | |
| Long-term debt, net of current portion, deferred financing cost and debt discount | 146,000 | 32 | 29 | 22 | 23 | |
| Operating lease liabilities, net of current portion | 608,000 | 783,000 | 773,000 | 718,000 | 742,000 | |
| Total liabilities | 27 | 46 | 74 | 83 | 57 | |
| COMMITMENTS AND CONTINGENCIES (Note 9) | — | — | — | — | — | |
| Series A Convertible Preferred Stock, $0.001 par value per share, 10,000,000 shares authorized, 27,077 and 0 shares issued and outstanding, respectively | 0 | 0 | — | — | — | |
| Additional paid-in capital | 26 | 4 | 3 | −371,000 | 3 | |
| Accumulated deficit | −28 | −9 | −3 | 205,000 | −366,000 | |
| Noncontrolling interest | −5 | −15 | −6 | 4 | 2 | |
| Total stockholders deficit | −7 | −20 | −5 | 4 | 5 | |
| Total liabilities and stockholders deficit | 20 | 26 | 69 | 87 | 62 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Amortization of deferred financing cost and debt discount (premium), net | 3 | 1 | 615,000 | 598,000 | 356,442 | |
| Amortization of intangible assets | 2 | 2 | 2 | 2 | 2 | |
| Reduction in carrying amount of right-of-use assets | 182,000 | 156,000 | 164,000 | 137,000 | — | |
| Depreciation and amortization of property, equipment and software | 262,000 | 275,000 | 253,000 | 34,000 | — | |
| Stock-based compensation | 1 | 2 | 706,000 | 154,000 | — | |
| Deferred income taxes | 0 | 6 | 568,000 | 105,000 | — | |
| Interest paid in kind | 1 | 0 | — | — | 269,260 | |
| Commitment shares and expenses for Equity Reserve Facility | 0 | 532,000 | — | — | — | |
| Provision for credit losses/bad debt expense | 6,000 | 619,000 | 422,000 | 17,000 | — | |
| Accounts receivable | 2 | 32 | −11 | −19 | −3 | |
| Prepaid expenses and other assets | −27,000 | −60,000 | 201,000 | 307,000 | −1 | |
| Accounts payable | 911,000 | −26 | 16 | 11 | 3 | |
| Accrued liabilities and TRA payable | 638,000 | −1 | −8,000 | 3 | −273,735 | |
| Income taxes payable | −65,000 | −34,000 | −140,000 | 174,000 | — | |
| Deferred revenues | 6,000 | 126,000 | −166,000 | −801,000 | 1 | |
| Operating lease liability | −193,000 | −127,000 | −92,000 | −98,000 | — | |
| Net cash used in operating activities | −9 | −9 | 3 | 2 | 4 | |
| Cash paid for capitalized software and property and equipment | −87,000 | −17,000 | −178,000 | −688,000 | — | |
| Net cash used in investing activities | −87,000 | −17,000 | −178,000 | −688,000 | — | |
| Proceeds from note payable | 4 | 4 | 4 | 4 | 22 | |
| Payments on term loan | 0 | −373,000 | −677,000 | −576,000 | −16 | |
| Proceeds from line of credit | 0 | 7 | 5 | — | 400,000 | |
| Payments on line of credit | −4 | −6 | −2 | −400,000 | −407,051 | |
| Payment of expenses for Equity Reserve Facility | −198,000 | −382,000 | 0 | — | — | |
| Payment of deferred financing cost | 0 | −26,000 | −576,000 | −525,000 | −2 | |
| Proceeds from issuance of Class A Common Stock | 9 | 2 | 0 | 11 | — | |
| Payments on financed insurance premiums | −317,000 | 0 | — | — | — | |
| Payment of tax related to shares withheld upon vesting | 0 | −878,000 | 0 | — | — | |
| Proceeds from options exercised | 0 | 92,000 | 29,000 | — | — | |
| Proceeds from warrants exercised | 0 | 215,000 | 122,000 | — | — | |
| Net cash provided by financing activities | 8 | 5 | −1 | −2 | −678,718 | |
| Net decrease in cash and cash equivalents | −717,000 | −4 | 1 | −637,000 | 3 | |
| Cash paid for taxes | 3,000 | 388,000 | 361,000 | 47,000 | 14,878 | |
| Cash paid for interest | 835,000 | 4 | 4 | 3 | 3 | |
| Conversion of term loan into preferred stock net of premium | 31 | 0 | — | — | — | |
| Accrued term loan amendment closing fees | 0 | 3 | — | — | — | |
| Settlement of accounts payable through issuance of common stock | 941,000 | 0 | — | — | — | |
| Financed insurance premiums | 291,000 | 129,000 | 0 | — | — | |
| Non-cash funding of debt issuance costs | 63,000 | 0 | — | — | — | |
| Funding of interest reserve through debt | 0 | 2 | 0 | — | — | |
| Common stock issued for subscription receivable | 0 | 1 | 0 | — | — | |
| Issuance of stock in lieu of cash bonus, net of tax withholdings | 0 | 906,000 | 0 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Direct Digital Holdings, Inc.'s CIK number?
Direct Digital Holdings, Inc.'s SEC CIK number is 0001880613 (1880613). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Direct Digital Holdings, Inc.'s SEC filings?
All of Direct Digital Holdings, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Direct Digital Holdings, Inc. last report earnings?
Direct Digital Holdings, Inc. (DRCT) most recently filed an earnings 8-K with the SEC on May 11, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001880613-26-000057). This is Direct Digital Holdings, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Direct Digital Holdings, Inc.'s most recent earnings 8-K?
Direct Digital Holdings, Inc.'s latest earnings 8-K (Item 2.02) was filed May 11, 2026 under accession 0001880613-26-000057. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Direct Digital Holdings, Inc.'s latest earnings 8-K →
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