Direct Digital Holdings, Inc.
For the period ended Sep 30, 2025. Filed Nov 12, 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.
Sep 30, 2025 · Filed Nov 12, 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)
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $871 | $1,445 |
| Accounts receivable, net of provision for credit losses of $944 and $978, respectively | 3,594 | 4,973 |
| Prepaid expenses and other current assets | 2,138 | 2,117 |
| Total current assets | 6,603 | 8,535 |
| Property, equipment and software, net | 164 | 341 |
| Goodwill | 6,520 | 6,520 |
| Intangible assets, net | 8,265 | 9,730 |
| Operating lease right-of-use assets | 749 | 832 |
| Other long-term assets | 234 | 48 |
| Total assets | $22,535 | $26,006 |
| LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
| CURRENT LIABILITIES | ||
| Accounts payable | $8,183 | $7,657 |
| Accrued liabilities | 1,888 | 1,257 |
| Accrued liabilities - related party | 1,875 | — |
| Liability related to tax receivable agreement, current portion | 41 | 41 |
| Current maturities of long-term debt | — | 3,700 |
| Current maturities of long-term debt - related party | 4,931 | — |
| Deferred revenues | 548 | 507 |
| Operating lease liabilities, current portion | 215 | 188 |
| Income taxes payable | 66 | — |
| Total current liabilities | 17,747 | 13,350 |
| Long-term debt, net of current portion, deferred financing cost and debt discount | 150 | 31,603 |
| Long-term debt, net of current portion, deferred financing cost and debt discount - related party | 10,667 | — |
| Operating lease liabilities, net of current portion | 666 | 783 |
| Total liabilities | 29,230 | 45,736 |
| COMMITMENTS AND CONTINGENCIES (Note 9) | ||
| STOCKHOLDERS’ DEFICIT | ||
| Series A Convertible Preferred Stock, $0.001 par value per share, 10,000,000 shares authorized, 25,000 and 0 shares issued and outstanding, respectively | — | — |
| Class A Common Stock, $0.001 par value per share, 160,000,000 shares authorized, 16,675,005 and 5,450,554 shares issued and outstanding, respectively | 17 | 6 |
| Class B Common Stock, $0.001 par value per share, 20,000,000 shares authorized, 9,575,500 and 10,868,000 shares issued and outstanding, respectively | 10 | 11 |
| Additional paid-in capital | 14,862 | 3,769 |
| Accumulated deficit | (16,058) | (8,774) |
| Noncontrolling interest | (5,526) | (14,742) |
| Total stockholders’ deficit | (6,695) | (19,730) |
| Total liabilities and stockholders’ deficit | $22,535 | $26,006 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.