Direct Digital Holdings, Inc.
For the period ended Mar 31, 2025. Filed May 7, 2025.
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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.
Mar 31, 2025 · Filed May 7, 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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Condensed Consolidated Balance Sheets as of and
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share and par value amounts)
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $1,789 | $1,445 |
| Accounts receivable, net of provision for credit losses of $978 | 4,391 | 4,973 |
| Prepaid expenses and other current assets | 701 | 2,117 |
| Total current assets | 6,881 | 8,535 |
| Property, equipment and software, net | 288 | 341 |
| Goodwill | 6,520 | 6,520 |
| Intangible assets, net | 9,242 | 9,730 |
| Operating lease right-of-use assets | 838 | 832 |
| Other long-term assets | 48 | 48 |
| Total assets | $23,817 | $26,006 |
| LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
| CURRENT LIABILITIES | ||
| Accounts payable | $7,024 | $7,657 |
| Accrued liabilities | 1,512 | 1,257 |
| Liability related to tax receivable agreement, current portion | 41 | 41 |
| Current maturities of long-term debt | 4,122 | 3,700 |
| Deferred revenues | 558 | 507 |
| Operating lease liabilities, current portion | 202 | 188 |
| Income taxes payable | 19 | — |
| Total current liabilities | 13,478 | 13,350 |
| Long-term debt, net of current portion, deferred financing cost and debt discount | 32,878 | 31,603 |
| Operating lease liabilities, net of current portion | 776 | 783 |
| Total liabilities | 47,132 | 45,736 |
| COMMITMENTS AND CONTINGENCIES (Note 9) | ||
| STOCKHOLDERS’ DEFICIT | ||
| Class A Common Stock, $0.001 par value per share, 160,000,000 shares authorized, 7,093,480 and 5,450,554 shares issued and outstanding, respectively | 7 | 6 |
| Class B Common Stock, $0.001 par value per share, 20,000,000 shares authorized, 10,798,000 and 10,868,000 shares issued and outstanding, respectively | 11 | 11 |
| Additional paid-in capital | 3,776 | 3,769 |
| Accumulated deficit | (11,129) | (8,774) |
| Noncontrolling interest | (15,980) | (14,742) |
| Total stockholders’ deficit | (23,315) | (19,730) |
| Total liabilities and stockholders’ deficit | $23,817 | $26,006 |
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