Direct Digital Holdings, Inc.

For the period ended Dec 31, 2025. Filed Mar 31, 2026.

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.

FY2025 · Filed Mar 31, 2026

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

Consolidated Balance Sheets

(in thousands, except share and par value amounts)

	December 31,
	2025	2024
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$728	$1,445
Accounts receivable, net of provision for credit losses of $944 and $978	3,126	4,973
Prepaid expenses and other current assets	890	2,117
Total current assets	4,744	8,535
Property, equipment and software, net	166	341
Goodwill	6,520	6,520
Intangible assets, net	7,852	9,730
Operating lease right-of-use assets	702	832
Other long-term assets	172	48
Total assets	$20,156	$26,006
LIABILITIES AND STOCKHOLDERS’ DEFICIT
CURRENT LIABILITIES
Accounts payable	$7,820	$7,657
Accrued liabilities	2,164	1,257
Accrued liabilities - related party	3,663	—
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	12,003	—
Deferred revenues	513	507
Operating lease liabilities, current portion	221	188
Total current liabilities	26,425	13,350
Long-term debt, net of current portion, deferred financing cost and debt discount	146	31,603
Operating lease liabilities, net of current portion	608	783
Total liabilities	27,179	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, 27,077 and 0 shares issued and outstanding, respectively	—	—
Class A Common Stock, $0.001 par value per share, 760,000,000 and 160,000,000 shares authorized, respectively, 1,324,307 and 99,100 shares issued and outstanding, respectively	1	—
Class B Common Stock, $0.001 par value per share, 20,000,000 shares authorized, 168,645 and 197,600 shares issued and outstanding	—	—
Additional paid-in capital	25,811	3,786
Accumulated deficit	(27,720)	(8,774)
Noncontrolling interest	(5,115)	(14,742)
Total stockholders’ deficit	(7,023)	(19,730)
Total liabilities and stockholders’ deficit	$20,156	$26,006

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.