Direct Digital Holdings Inc
For the period ended Sep 30, 2024. Filed Nov 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 13, 2024
DRCT$0.91-39.7%Stored close · as of Oct 2, 2026
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Condensed Consolidated Statements of Cash Flows for the
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows (Used In) Provided By Operating Activities: | ||
| Net (loss) income | $(13,338) | $3,212 |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | ||
| Amortization of deferred financing costs | 558 | 435 |
| Amortization of intangible assets | 1,465 | 1,465 |
| Reduction in carrying amount of right-of-use assets | 115 | 124 |
| Depreciation and amortization of property, equipment and software | 205 | 185 |
| Stock-based compensation | 811 | 546 |
| Deferred income tax expense | 6,132 | 82 |
| Loss on early termination of line of credit | — | 300 |
| Derecognition of tax receivable agreement liability | (5,201) | — |
| Provision for credit losses/bad debt expense, net of recoveries | 36 | 98 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 30,884 | (28,381) |
| Prepaid expenses and other assets | (394) | (524) |
| Accounts payable | (27,474) | 27,326 |
| Accrued liabilities and tax receivable agreement payable | (1,471) | (753) |
| Income taxes payable | 65 | (61) |
| Deferred revenues | 595 | 497 |
| Operating lease liability | (83) | (70) |
| Net cash (used in) provided by operating activities | (7,095) | 4,481 |
| Cash Flows Used In Investing Activities: | ||
| Cash paid for capitalized software and property and equipment | (17) | (137) |
| Net cash used in investing activities | (17) | (137) |
| Cash Flows Provided by (Used In) Financing Activities: | ||
| Payments on term loan | (373) | (491) |
| Proceeds from lines of credit | 6,700 | — |
| Payments on shares withheld for taxes | (551) | — |
| Payment of deferred financing costs | — | (442) |
| Proceeds from options exercised | 92 | — |
| Proceeds from warrants exercised | 215 | 12 |
| Distributions to holders of LLC Units | — | (1,988) |
| Net cash provided by (used in) financing activities | 6,083 | (2,909) |
| Net (decrease) increase in cash and cash equivalents | (1,029) | 1,435 |
| Cash and cash equivalents, beginning of the period | 5,116 | 4,047 |
| Cash and cash equivalents, end of the period | $4,087 | $5,482 |
| Supplemental Disclosure of Cash Flow Information: | ||
| Cash paid for taxes | $263 | $349 |
| Cash paid for interest | $3,472 | $2,667 |
| Non-cash Financing Activities: | ||
| Accrual of warrant redemption liability | $— | $3,540 |
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