Direct Digital Holdings Reports Fourth Quarter and Full Year 2025 Financial Results
Rhea-AI Summary
Direct Digital Holdings (Nasdaq: DRCT) reported Q4 and full‑year 2025 results. Q4 revenue was $8.4M, down 7% year‑over‑year; buy‑side revenue rose 28% to $8.2M. Full‑year revenue declined 44% to $34.7M while buy‑side grew 10% to $29.4M. The company cut operating expenses and completed a 55‑for‑1 reverse split to regain Nasdaq compliance.
Cash was $0.7M at year‑end; adjusted EBITDA and net losses widened for FY 2025. Management announced a strategic pivot toward buy‑side growth and launched an AI programmatic product, Ignition+.
Positive
- Buy‑side revenue +28% in Q4 2025
- Buy‑side revenue +10% in FY 2025
- Operating expenses down 18% in FY 2025
- Completed 55‑for‑1 reverse stock split to regain Nasdaq compliance
Negative
- Consolidated revenue -44% in FY 2025 to $34.7M
- Sell‑side revenue -85% in FY 2025 to $5.3M
- Net loss widened to ($27.7M) in FY 2025
- Cash and equivalents $0.7M as of Dec 31, 2025
Key Figures
Market Reality Check
Peers on Argus
DRCT was up 4.9% pre-earnings while peers were mixed: KRKR down 4.90%, STFS up 2.57%, and ABLV down 1.18%. This mix points more to stock-specific dynamics around DRCT’s fundamentals than a clean sector-wide move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 06 | Q3 2025 earnings | Negative | -34.6% | Q3 2025 revenue decline, ongoing losses and liquidity-focused capital actions. |
| Aug 05 | Q2 2025 earnings | Negative | -18.6% | Q2 2025 revenue down 54% YoY despite sequential improvement and cost cuts. |
| May 06 | Q1 2025 earnings | Negative | -21.6% | Q1 2025 revenue down 63% YoY with sharp sell-side contraction. |
| Mar 27 | FY 2024 results | Negative | -45.1% | FY 2024 revenue down 60% and larger net loss vs 2023 on sell-side shock. |
| Nov 12 | Q3 2024 earnings | Negative | -29.2% | Q3 2024 revenue down 85% amid disinformation-driven customer disruption. |
Earnings releases have consistently triggered sharp negative moves, with an average 24h reaction of about -29.81% across the last five earnings events.
Over the past five earnings cycles, Direct Digital has reported steep revenue declines driven by sell-side weakness, partially offset by steadier buy-side growth and cost reductions. 2024 saw revenue fall from $157.1M to $62.3M, and 2025 quarters continued that downtrend with persistent net losses and Adjusted EBITDA losses. Management repeatedly highlighted restructuring, equity facilities and preferred issuances to support liquidity. Today’s Q4/FY 2025 update extends this narrative, with buy-side growth but a structurally smaller, pressured business and continued losses.
Historical Comparison
Past five earnings reports averaged a -29.81% next-day move, typically reacting sharply to large revenue declines and persistent losses.
Earnings since late 2024 show a structurally smaller company: revenue falling from $157.1M in 2023 to $62.3M in 2024 and then pressured further in 2025, with management shifting emphasis toward buy-side growth and cost control while sell-side volumes remain depressed.
Regulatory & Risk Context
An effective S-3 shelf filed on 2026-02-10 allows DRCT to issue up to $400,000,000 of various securities over time. With at least one 424B3 usage, this provides a flexible structure for future capital raises, subject to baby shelf limits tied to its $7.44M float.
Market Pulse Summary
This announcement highlights a business in transition: Q4 2025 revenue fell to $8.4M and full-year revenue to $34.7M, yet buy-side advertising grew, reaching $8.2M in Q4 and $29.4M for 2025. Management is pivoting toward buy-side and launching Ignition+ while cutting expenses, but cash of only $0.7M, ongoing losses and reliance on preferred stock and a $400M shelf mean investors should closely watch liquidity, capital-raising activity and execution on the new focus.
Key Terms
adjusted ebitda financial
series a convertible preferred stock financial
reverse stock split financial
AI-generated analysis. Not financial advice.
Fourth Quarter 2025 Buy-side Revenue Increased
Fourth Quarter 2025 Consolidated Revenue Decreased
Reduced Operating Expenses by
Mark D. Walker, Chairman and Chief Executive Officer, commented, "We're encouraged by our ability to drive double digit growth in the buy-side of our business, driven primarily by new customers and increased demand we're seeing from new verticals. As we move through 2026, we are strategically shifting our focus on driving digital marketing spend among buy-side and new enterprise customers. To that end, in March of 2026 we launched Ignition+, an AI-enabled programmatic media solution providing enhanced accessibility for large enterprise clients in the buy-side network, while also prioritizing transparency, efficiency, and cost reduction through AI-driven optimization, insights and curation. In connection with this strategic shift, we are currently aggregating our operations to streamline our operating structure and enable us to more efficiently go to market and drive value creation for our shareholders."
Keith Smith, President, commented, "Our strategic pivot allows us to center our resources to enhance Direct Digital's buyside presence and drive continued success winning new customers and capturing market share. We look forward to executing on our refocused business model."
Fourth Quarter 2025 Highlights
- Buy-side advertising segment served about 195 customers in the fourth of 2025.
- Buy-side advertising revenue for the fourth quarter of 2025 included
$1.7 million - Processed approximately 85 billion average monthly impressions through the sell-side advertising segment.
- Executing on strategic pivot and reallocating resources to more streamlined and profitable business model focused on buy-side growth.
Fourth Quarter 2025 Financial Results
- Revenue of
$8.4 million 7% compared to$9.1 million - Buy-side advertising segment revenue of
$8.2 million 28% compared to$6.4 million - Sell-side advertising segment revenue of
$0.2 million $2.7 million - Gross profit was
$2.3 million 27% of revenue, compared to$2.9 million 32% of revenue, in the fourth quarter of 2024. - Operating expenses of
$6.7 million 12% compared to$7.7 million - Operating loss was (
$4.5 million $4.7 million - Net loss was (
$12.6 million $6.6 million - Adjusted EBITDA[1] loss was (
$3.6 million $3.4 million - As of December 31, 2025, the Company held cash and cash equivalents of
$0.7 million $1.4 million
Full Year 2025 Financial Results
- Revenue of
$34.7 million 44% compared to$62.3 million - Buy-side advertising segment revenue of
$29.4 million 10% compared to$26.6 million - Sell-side advertising segment revenue of
$5.3 million 85% compared to$35.7 million - Gross profit was
$10.4 million 30% of revenue, compared to$17.4 million 28% of revenue, in full year 2024. - Operating expenses of
$25.2 million $5.4 million 18% , compared to$30.6 million - Operating loss was (
$14.8 million $13.2 million - Net loss was (
$27.7 million $19.9 million - Adjusted EBITDA[1] loss was (
$11.1 million $9.3 million
Direct Digital Holdings took several steps throughout 2025 to strengthen its balance sheet and enhance its capital structure and access to capital.
In the third quarter of 2025, the Company announced the issuance of
In the fourth quarter of 2025, the Company issued an additional
Subsequent to the fourth quarter of 2025, the Company implemented a 55-to-1 reverse stock split of all classes of its common stock. The reverse stock split was approved by Direct Digital Holdings' Board of Directors and subsequently by its stockholders on December 30, 2025, allowing the Company to regain compliance with the Nasdaq minimum bid price and maintain its Nasdaq listing. This listing is a key asset and provides heightened visibility among institutional investors, which is foundational to the Company's go forward strategy to build and maintain a strengthened investor base.
Diana Diaz, Chief Financial Officer, commented, "We took several steps in the fourth quarter of 2025 and throughout the year to strengthen our balance sheet and enhance our access to capital, successfully returning Direct Digital Holdings to Nasdaq compliance. Revenue growth on the buy-side of our business in 2025 was encouraging, and with the support of our strategic pivot to a more efficient model, we believe that we are well positioned to deliver improved results in 2026."
Conference Call and Webcast Details
Direct Digital Holdings will host a conference call on Tuesday, April 7, 2026, at 5:00 p.m. Eastern Time to discuss the Company's fourth quarter and full year 2025 financial results. The live webcast and replay can be accessed at https://ir.directdigitalholdings.com/news-events/ir-calendar. Please access the website at least fifteen minutes prior to the call to register, download and install any necessary audio software. For those who cannot access the webcast, a replay will be available at https://ir.directdigitalholdings.com/.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws that are subject to certain risks, trends and uncertainties. We use words such as "could," "would," "may," "might," "will," "expect," "likely," "believe," "continue," "anticipate," "estimate," "intend," "plan," "project" and other similar expressions to identify forward-looking statements, but not all forward-looking statements include these words. All of our forward-looking statements involve estimates and uncertainties that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the information described under the caption "Risk Factors" and elsewhere in our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the "Form 10-K") and subsequent periodic and or current reports filed with the Securities and Exchange Commission (the "SEC").
The forward-looking statements contained in this press release are based on assumptions that we have made in light of our industry experience and our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. As you read and consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (many of which are beyond our control) and assumptions.
Although we believe that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect our actual operating and financial performance and cause our performance to differ materially from the performance expressed in or implied by the forward-looking statements. We believe these factors include, but are not limited to, the following: the ability to realize the benefits of our strategic shift to focusing on driving digital marketing spend among buy-side and new enterprise customers; the restrictions and covenants imposed upon us by our credit facilities; the substantial doubt about our ability to continue as a going concern, which may hinder our ability to obtain future financing; our ability to secure additional financing to meet our capital needs; our ability to maintain compliance with the listing standards of the Nasdaq Capital Market; any significant fluctuations caused by our high customer concentration; risks related to non-payment by our clients; reputational and other harms caused by our failure to detect advertising fraud; operational and performance issues with our platform, whether real or perceived, including a failure to respond to technological changes or to upgrade our technology systems; restrictions on the use of third-party "cookies," mobile device IDs or other tracking technologies, which could diminish our platform's effectiveness; unfavorable publicity and negative public perception about our industry, particularly concerns regarding data privacy and security relating to our industry's technology and practices, and any perceived failure to comply with laws and industry self-regulation; our failure to manage our growth effectively; the difficulty in identifying and integrating any future acquisitions or strategic investments; any changes or developments in legislative, judicial, regulatory or cultural environments related to information collection, use and processing; challenges related to our buy-side clients that are destination marketing organizations and that operate as public/private partnerships; any strain on our resources or diversion of our management's attention as a result of being a public company; the intense competition of the digital advertising industry and our ability to effectively compete against current and future competitors; any significant inadvertent disclosure or breach of confidential and/or personal information we hold, or of the security of our or our customers', suppliers' or other partners' computer systems; as a holding company, we depend on distributions from Direct Digital Holdings, LLC ("DDH LLC") to pay our taxes, expenses (including payments under the Tax Receivable Agreement) and any amount of any dividends we may pay to the holders of our common stock; any failure by us to maintain or implement effective internal controls or to detect fraud; and other factors and assumptions discussed in our Form 10-K and subsequent periodic and current reports we may file with the SEC.
Should one or more of these risks or uncertainties materialize or should any of these assumptions prove to be incorrect, our actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and except as required by law, we undertake no obligation to update any forward-looking statement contained in this press release to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. New factors that could cause our business not to develop as we expect emerge from time to time, and it is not possible for us to predict all of them. Further, we cannot assess the impact of each currently known or new factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
About Direct Digital Holdings
Direct Digital Holdings (Nasdaq: DRCT) combines cutting-edge sell-side and buy-side advertising solutions, providing data-driven digital media strategies that enhance reach and performance for brands, agencies, and publishers of all sizes. Our sell-side platform, Colossus SSP, offers curated access to premium, growth-oriented media properties throughout the digital ecosystem. On the buy-side, Orange 142 delivers customized, audience-focused digital marketing and advertising solutions that enable mid-market and enterprise companies to achieve measurable results across a range of platforms, including programmatic, search, social, CTV, and influencer marketing. With extensive expertise in high-growth sectors such as Energy, Healthcare, Travel & Tourism, and Financial Services, our teams deliver performance strategies that connect brands with their ideal audiences.
At Direct Digital Holdings, we prioritize personal relationships by humanizing technology, ensuring each client receives dedicated support and tailored digital marketing solutions regardless of company size. This empowers everyone to thrive by generating billions of monthly impressions across display, CTV, in-app, and emerging media channels through advanced targeting, comprehensive data insights, and cross-platform activation. DDH is "Digital advertising built for everyone."
DIRECT DIGITAL HOLDINGS, INC. AND SUBSIDIARIES 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 | 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 | |||
STOCKHOLDERS' DEFICIT | |||
Series A Convertible Preferred Stock, | — | — | |
Class A Common Stock, | 1 | — | |
Class B Common Stock, | — | — | |
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 | |
DIRECT DIGITAL HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per-share data) | |||||||
(Unaudited) | |||||||
For the Three Months Ended December 31, | For the Year Ended December 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Revenues | |||||||
Sell-side advertising | $ 182 | $ 2,659 | $ 5,335 | $ 35,660 | |||
Buy-side advertising | 8,226 | 6,424 | 29,359 | 26,628 | |||
Total revenues | 8,408 | 9,083 | 34,694 | 62,288 | |||
Cost of revenues | |||||||
Sell-side advertising | 1,103 | 3,393 | 8,049 | 34,063 | |||
Buy-side advertising | 5,055 | 2,743 | 16,226 | 10,834 | |||
Total cost of revenues | 6,158 | 6,136 | 24,275 | 44,897 | |||
Gross profit | 2,250 | 2,947 | 10,419 | 17,391 | |||
Operating expenses | |||||||
Compensation, taxes and benefits | 3,585 | 4,186 | 14,512 | 16,402 | |||
General and administrative | 3,160 | 3,465 | 10,662 | 14,222 | |||
Total operating expenses | 6,745 | 7,651 | 25,174 | 30,624 | |||
Loss from operations | (4,495) | (4,704) | (14,755) | (13,233) | |||
Other income (expense) | |||||||
Other income | 16 | 9 | 77 | 199 | |||
Expenses and commitment shares for Equity Reserve Facility | — | (532) | (198) | (532) | |||
Loss on settlement of accounts payable | (267) | — | (267) | — | |||
Loss on debt extinguishment | (3,769) | — | (3,769) | — | |||
Loss on Exit Fee | (3,608) | — | (3,608) | — | |||
Derecognition of tax receivable agreement liability | — | — | — | 5,201 | |||
Interest expense and amortization of deferred financing cost and debt discount (premium), net | (464) | (1,342) | (5,203) | (5,410) | |||
Total other expense, net | (8,092) | (1,865) | (12,968) | (542) | |||
Loss before income taxes | (12,587) | (6,569) | (27,723) | (13,775) | |||
Income tax expense | — | — | — | 6,132 | |||
Net loss | (12,587) | (6,569) | (27,723) | (19,907) | |||
Net loss attributable to noncontrolling interest | (925) | (4,388) | (8,777) | (13,671) | |||
Net loss attributable to Direct Digital Holdings, Inc. | $ (11,662) | $ (2,181) | $ (18,946) | $ (6,236) | |||
Net loss per common share attributable to Direct Digital Holdings, Inc.: | |||||||
Basic | $ (22.00) | $ (29.88) | $ (75.79) | $ (91.26) | |||
Diluted | $ (22.00) | $ (29.88) | $ (75.79) | $ (91.26) | |||
Weighted-average number of shares of common stock outstanding: | |||||||
Basic | 691 | 73 | 308 | 68 | |||
Diluted | 691 | 73 | 308 | 68 | |||
DIRECT DIGITAL HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) | ||
For the Year Ended December 31, | ||
2025 | 2024 | |
Cash Flows Used In Operating Activities: | ||
Net loss | $ (27,723) | $ (19,907) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Amortization of deferred financing cost and debt discount (premium), net | 3,162 | 1,092 |
Amortization of intangible assets | 1,879 | 1,954 |
Reduction in carrying amount of right-of-use assets | 182 | 156 |
Depreciation and amortization of property, equipment and software | 262 | 275 |
Stock-based compensation | 1,470 | 1,552 |
Deferred income taxes | — | 6,132 |
Derecognition of tax receivable agreement liability | — | (5,201) |
Loss on debt extinguishment | 3,769 | — |
Loss on Exit Fee | 3,608 | — |
Loss on settlement of accounts payable | 267 | — |
Interest paid in kind | 1,100 | — |
Commitment shares and expenses for Equity Reserve Facility | — | 532 |
Provision for credit losses/bad debt expense | 6 | 619 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 1,841 | 31,615 |
Prepaid expenses and other assets | (27) | (60) |
Accounts payable | 911 | (26,269) |
Accrued liabilities and TRA payable | 638 | (1,103) |
Income taxes payable | , (65) | (34) |
Deferred revenues | 6 | 126 |
Operating lease liability | (193) | (127) |
Net cash used in operating activities | (8,907) | (8,648) |
Cash Flows Used In Investing Activities: | ||
Cash paid for capitalized software and property and equipment | (87) | (17) |
Net cash used in investing activities | (87) | (17) |
Cash Flows Provided by Financing Activities: | ||
Proceeds from note payable | 3,804 | 4,000 |
Payments on term loan | — | (373) |
Proceeds from lines of credit | — | 6,700 |
Payments on lines of credit | (3,700) | (6,000) |
Payment of expenses for Equity Reserve Facility | (198) | (382) |
Payment of deferred financing costs | — | (26) |
Proceeds from issuance of Class A Common Stock | 8,688 | 1,646 |
Payments on financed insurance premiums | (317) | — |
Payment of tax related to shares withheld upon vesting | — | (878) |
Proceeds from options exercised | — | 92 |
Proceeds from warrants exercised | — | 215 |
Net cash provided by financing activities | 8,277 | 4,994 |
Net decrease in cash, cash equivalents and restricted cash | (717) | (3,671) |
Cash, cash equivalents and restricted cash, beginning of the period | 1,445 | 5,116 |
Cash, cash equivalents and restricted cash, end of the period | $ 728 | $ 1,445 |
Supplemental Disclosure of Cash Flow Information: | ||
Cash paid for taxes | $ 3 | $ 388 |
Cash paid for interest | $ 835 | $ 4,300 |
Non-cash Activities: | ||
Conversion of term loan into preferred stock net of premium | $ 30,748 | $ — |
Accrued term loan amendment closing fees | $ — | $ 3,000 |
Settlement of accounts payable through issuance of common stock | $ 941 | $ — |
Financed insurance premiums | $ 291 | $ 129 |
Non-cash funding of debt issuance costs | $ 63 | $ — |
Accrued dividends | $ 55 | $ — |
Funding of interest reserve through debt | $ — | $ 2,000 |
Common stock issued for subscription receivable | $ — | $ 1,362 |
Issuance of stock in lieu of cash bonus, net of tax withholdings | $ — | $ 906 |
NON-GAAP FINANCIAL MEASURES
In addition to our results determined in accordance with
Three Months Ended | Year Ended | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Net loss | $ (12,587) | $ (6,569) | $ (27,723) | $ (19,907) | |||
Add back (deduct): | |||||||
Interest expense and amortization of deferred financing cost and debt discount (premium), net | 464 | 1,342 | 5,203 | 5,410 | |||
Amortization of intangible assets | 414 | 489 | 1,879 | 1,954 | |||
Stock-based compensation | 391 | 741 | 1,470 | 1,552 | |||
Depreciation and amortization of property, equipment and software | 47 | 70 | 262 | 275 | |||
Loss on debt extinguishment | 3,769 | — | 3,769 | — | |||
Loss on Exit Fee | 3,608 | — | 3,608 | — | |||
Loss on settlement of accounts payable | 267 | — | 267 | — | |||
Expenses and commitment shares for Equity Reserve Facility | — | 532 | 198 | 532 | |||
Income tax expense | — | — | — | 6,132 | |||
Derecognition of tax receivable agreement liability | — | — | — | (5,201) | |||
Adjusted EBITDA | $ (3,627) | $ (3,395) | $ (11,067) | $ (9,253) | |||
In addition to operating income and net income, we use Adjusted EBITDA as a measure of operational efficiency. We believe that this non-GAAP financial measure is useful to investors for period-to-period comparisons of our business and in understanding and evaluating our operating results for the following reasons:
- Adjusted EBITDA is widely used by investors and securities analysts to measure a company's operating performance without regard to items such as depreciation and amortization, interest expense, provision for income taxes, stock-based compensation and certain items such as acquisition transaction costs, losses from financing activities (including debt extinguishment and Exit Fee) and costs for the Equity Reserve Facility that can vary substantially from company to company depending upon their financing, capital structures and the method by which assets were acquired;
- Our management uses Adjusted EBITDA in conjunction with GAAP financial measures for planning purposes, including the preparation of our annual operating budget, as a measure of operating performance and the effectiveness of our business strategies and in communications with our board of directors concerning our financial performance; and
- Adjusted EBITDA provides consistency and comparability with our past financial performance, facilitates period-to-period comparisons of operations, and also facilitates comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results.
Our use of this non-GAAP financial measure has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our financial results as reported under GAAP.
Contacts:
Investors:
IMS Investor Relations
Walter Frank/Jennifer Belodeau
(203) 972-9200
investors@directdigitalholdings.com
1 "Adjusted EBITDA" is a non-GAAP financial measure. The section titled "Non-GAAP Financial Measures" below describes our usage of non-GAAP financial measures and provides reconciliations between historical GAAP and non-GAAP information contained in this press release.
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SOURCE Direct Digital Holdings
FAQ
What drove Direct Digital Holdings (DRCT) Q4 2025 buy‑side revenue growth?
How did Direct Digital Holdings (DRCT) restore Nasdaq compliance in 2025?
What were Direct Digital Holdings (DRCT) full‑year 2025 revenue and net loss figures?
What balance sheet and capital actions did Direct Digital Holdings (DRCT) take in 2025?
What is Ignition+ and how does it factor into Direct Digital Holdings (DRCT) strategy?
