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Direct Digital Holdings, Inc.

For the period ended Dec 31, 2024. Filed Mar 28, 2025.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 28, 2025

DRCT$0.91-39.7%Stored close · as of Oct 2, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

For the Year Ended December 31,
20242023
Cash Flows (Used In) Provided By Operating Activities:
Net loss$(19,907)$(6,844)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Amortization of deferred financing cost and debt discount1,092615
Amortization of intangible assets1,9541,954
Reduction in carrying amount of right-of-use assets156164
Depreciation and amortization of property, equipment and software275253
Stock-based compensation1,552706
Deferred income taxes6,132568
Derecognition of tax receivable agreement liability(5,201)—
Revaluation of tax receivable agreement liability—(331)
Loss on early termination of line of credit—300
Commitment shares and expenses for Equity Reserve Facility532—
Provision for credit losses/bad debt expense619422
Changes in operating assets and liabilities:
Accounts receivable31,615(11,275)
Prepaid expenses and other assets(60)201
Accounts payable(26,269)16,231
Accrued liabilities and TRA payable(1,103)(8)
Income taxes payable(34)(140)
Deferred revenues126(166)
Operating lease liability(127)(92)
Net cash (used in) provided by operating activities(8,648)2,558
Cash Flows Used In Investing Activities:
Cash paid for capitalized software and property and equipment(17)(178)
Net cash used in investing activities(17)(178)
Cash Flows Provided by (Used In) Financing Activities:
Proceeds from note payable4,0003,516
Payments on term loan(373)(677)
Proceeds from lines of credit6,7005,000
Payments on lines of credit(6,000)(2,000)
Payment of expenses for Equity Reserve Facility(382)—
Payment of deferred financing cost(26)(576)
Proceeds from issuance of Class A Common Stock1,646—
Acquisition and redemption of warrants, including expenses—(3,540)
Payment of tax related to shares withheld upon vesting(878)—
Proceeds from options exercised9229
Proceeds from warrants exercised215122
Distributions to holders of LLC Units—(3,185)
Net cash provided by (used in) financing activities4,994(1,311)
Net (decrease) increase in cash and cash equivalents(3,671)1,069
Cash and cash equivalents, beginning of the period5,1164,047
Cash and cash equivalents, end of the period$1,445$5,116
Supplemental Disclosure of Cash Flow Information:
Cash paid for taxes$388$361
Cash paid for interest$4,300$3,736
Non-cash Activities:
Common stock issued for subscription receivable$1,362$—
Funding of interest reserve through debt$2,000$—
Accrued term loan exit fee$3,000$—
Issuance of stock in lieu of cash bonus, net of tax withholdings$906$—
Financed insurance premiums$129$—
Outside basis difference in partnership$—$1,536
Tax receivable agreement payable to Direct Digital Management, LLC$—$1,286
Tax benefit on tax receivable agreement$—$250
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.