Direct Digital Holdings, Inc. DRCT
We are an end-to-end, full-service advertising and marketing platform primarily focused on providing advertising technology, data-driven campaign optimization and other solutions to help brands, agencies and middle market businesses deliver successful marketing results that drive return on investment ("ROI") across both the sell- and buy-side of the digital advertising ecosystem. Direct Digital Holdings, Inc., incorporated as a Delaware corporation on August 23, 2021 and headquartered in Houston, Texas, is the holding company for DDH LLC, the business formed by our founders in 2018 through acquisitions of Colossus Media and Huddled Masses. Colossus Media operates our proprietary sell-side programmatic platform operating under the trademarked banner of Colossus SSP™. In September 2020, DDH LLC acquired Orange 142 to further bolster its overall programmatic buy-side advertising platform and to enhance its offerings across multiple industry verticals. In February 2022, we completed our initial public offering and certain organizational transactions which resulted in our current structure. In October 2024, we announced the unification of our buy-side businesses, Orange 142 and Huddled Masses.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $34.7M | $62.3M | $157.1M | $89.4M | $38.1M | — |
| Cost of revenue | $24.3M | $44.9M | $119.5M | $60.0M | $19.7M | — |
| Gross profit | $10.4M | $17.4M | $37.6M | $29.3M | $18.4M | — |
| SG&A | $10.7M | $14.2M | $13.2M | $7.2M | $5.5M | — |
| Total operating expenses | $25.2M | $30.6M | $39.8M | $21.3M | $14.0M | — |
| Operating income | -$14.8M | -$13.2M | -$2.2M | $8.0M | $4.4M | — |
| Interest expense | $5.2M | $5.4M | $4.4M | $3.2M | $3.2M | — |
| Pre-tax income | -$27.7M | -$13.8M | -$6.3M | $4.5M | -$1.4M | — |
| Income tax | $0 | $6.1M | $568.0K | $246.0K | $0 | — |
| Net income | -$18.9M | -$6.2M | -$2.2M | $205.0K | -$1.5M | — |
| EPS, basic | -75.79 | -91.26 | -0.73 | 0.11 | -44.09 | — |
| EPS, diluted | -75.79 | -91.26 | -0.73 | 0.11 | -44.09 | — |
| Shares, diluted (wtd. avg.) | $308.0K | $68.0K | $3.0M | $2.9M | $34.2K | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $728.0K | $1.4M | $5.1M | $4.0M | $4.7M | $1.6M |
| Receivables | $3.1M | $5.0M | $37.2M | $26.4M | $7.9M | — |
| Total current assets | $4.7M | $8.5M | $43.1M | $31.3M | $13.8M | — |
| Property, plant and equipment | $166.0K | $341.0K | $599.0K | $673.0K | — | — |
| Goodwill | $6.5M | $6.5M | $6.5M | $6.5M | $6.5M | $4.1M |
| Other intangibles | $7.9M | $9.7M | $11.7M | $13.6M | $15.6M | — |
| Total assets | $20.2M | $26.0M | $68.9M | $58.1M | $36.0M | — |
| Accounts payable | $7.8M | $7.7M | $33.9M | $17.7M | $6.7M | — |
| Short-term debt | $12.0M | $3.7M | $1.5M | $655.0K | $550.0K | — |
| Total current liabilities | $26.4M | $13.3M | $39.8M | $24.6M | $9.7M | — |
| Long-term debt | $146.0K | $31.6M | $28.6M | $23.1M | — | — |
| Total liabilities | $27.2M | $45.7M | $74.4M | $52.5M | $36.4M | — |
| Retained earnings | -$27.7M | -$8.8M | -$2.5M | -$344.0K | -$4.7M | — |
| Total equity | -$7.0M | -$19.7M | -$5.4M | $5.6M | -$375.0K | $2.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$8.9M | -$8.6M | $2.6M | $2.1M | $3.8M | — |
| Depreciation and amortisation | $262.0K | $275.0K | $253.0K | $34.0K | $0 | — |
| Stock-based compensation | $1.5M | $1.6M | $706.0K | $154.0K | — | — |
| Investing cash flow | -$87.0K | -$17.0K | -$178.0K | -$688.0K | — | — |
| Financing cash flow | $8.3M | $5.0M | -$1.3M | -$2.0M | -$678.7K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001880613-26-000032.
Others in SIC 7310
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| CCO | Clear Channel Outdoor Holdings, Inc. | $1.21B | 59.5x | 13.1% |
| MNTN | MNTN, Inc. | $957.3M | — | 28.6% |
| IBTA | Ibotta, Inc. | $893.7M | 319.9x | -6.8% |
| NCMI | National CineMedia, Inc. | $233.3M | — | 1.0% |
| ANGI | Angi Inc. | $198.2M | 5.2x | -13.0% |
| FLNT | Fluent, Inc. | $99.6M | — | -18.0% |
| THRY | Thryv Holdings, Inc. | $92.4M | 208.0x | -4.7% |
| TZOO | TRAVELZOO | $63.8M | 15.2x | 9.3% |