Direct Digital Holdings Inc
For the period ended Dec 31, 2023. Filed Oct 15, 2024.
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FY2023 · Filed Oct 15, 2024
DRCT$0.91-39.7%Stored close · as of Oct 2, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
(in thousands, except per-share data)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · For the Year Ended December 31, | ||||||
| | 2023 | 2022 | ||||
| Revenues | | | | | | |
| Sell-side advertising | | $122,434 | | $60,011 | ||
| Buy-side advertising | | | 34,676 | | | 29,349 |
| Total revenues | | | 157,110 | | | 89,360 |
| | | | | | | |
| Cost of revenues | | | | | | |
| Sell-side advertising | | | 105,733 | | | 49,599 |
| Buy-side advertising | | | 13,803 | | | 10,439 |
| Total cost of revenues | | | 119,536 | | | 60,038 |
| Gross profit | | | 37,574 | | | 29,322 |
| | | | | | | |
| Operating expenses | | | | | | |
| Compensation, taxes and benefits | | | 17,730 | | | 14,124 |
| General and administrative | | | 13,199 | | | 7,219 |
| Other expense | | | 8,830 | | | — |
| Total operating expenses | | | 39,759 | | | 21,343 |
| (Loss) income from operations | | | (2,185) | | | 7,979 |
| | | | | | | |
| Other income (expense) | | | | | | |
| Other income | | | 256 | | | 48 |
| Revaluation of tax receivable agreement liability | | | 331 | | | — |
| Loss on early termination of line of credit | | | (300) | | | — |
| Forgiveness of Paycheck Protection Program loan | | | — | | | 287 |
| Loss on redemption of non-participating preferred units | | | — | | | (590) |
| Interest expense | | | (4,378) | | | (3,231) |
| Total other expense, net | | | (4,091) | | | (3,486) |
| | | | | | | |
| (Loss) income before income taxes | | | (6,276) | | | 4,493 |
| Income tax expense | | | 568 | | | 326 |
| Net (loss) income | | | (6,844) | | $4,167 | |
| | | | | | | |
| Net (loss) income attributable to noncontrolling interest | | | (4,650) | | | 3,962 |
| Net (loss) income attributable to Direct Digital Holdings, Inc. | | $(2,194) | | $205 | ||
| | | | | | | |
| Net (loss) income per share: | | | | | | |
| Basic | | $(0.73) | | $0.11 | ||
| Diluted | | $(0.73) | | $0.11 | ||
| | | | | | | |
| Weighted-average number of shares of common stock outstanding: | | | | | | |
| Basic | | | 2,988 | | | 2,848 |
| Diluted | | | 2,988 | | | 2,891 |
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