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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2023
Sep. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Revenues              
Total revenues $ 59,472 $ 35,404 $ 21,223 $ 56,627 $ 116,099 $ 157,110 $ 89,360
Cost of revenues              
Total cost of revenues 47,719 25,331 14,790 40,121 87,840 119,536 60,038
Gross profit 11,753 10,073 6,433 16,506 28,259 37,574 29,322
Operating expenses              
Compensation, taxes and benefits 4,747 4,553 3,634 8,187 12,934 17,730 14,124
General and administrative 2,512 3,265 2,940 6,205 8,718 13,199 7,219
Other expense           8,830  
Total operating expenses 7,259 7,818 6,574 14,392 21,652 39,759 21,343
(Loss) income from operations 4,494 2,255 (141) 2,114 6,607 (2,185) 7,979
Other income (expense)              
Other income 83 42 50 92 175 256 48
Revaluation of tax receivable agreement liability           331  
Loss on early termination of line of credit     (300) (300) (300) (300)  
Forgiveness of Paycheck Protection Program loan             287
Loss on redemption of non-participating preferred units             (590)
Interest expense (1,060) (1,028) (1,017) (2,045) (3,104) (4,378) (3,231)
Total other expense, net (977) (986) (1,267) (2,253) (3,229) (4,091) (3,486)
(Loss) income before income taxes 3,517 1,269 (1,408) (139) 3,378 (6,276) 4,493
Income tax expense 166 74 (74)   166 568 326
Net (loss) income 3,351 1,195 (1,334) (139) 3,212 (6,844) 4,167
Net (loss) income attributable to noncontrolling interest 2,780 1,003 (1,120) (117) 2,663 (4,650) 3,962
Net (loss) income attributable to Direct Digital Holdings, Inc. $ 571 $ 192 $ (214) $ (22) $ 549 $ (2,194) $ 205
Net (loss) income per share:              
Basic (in dollars per share) $ 0.09 $ 0.03 $ (0.07) $ (0.01) $ 0.09 $ (0.73) $ 0.11
Diluted (in dollars per share) $ 0.09 $ 0.03 $ (0.07) $ (0.01) $ 0.09 $ (0.73) $ 0.11
Weighted-average number of shares of common stock outstanding:              
Basic (in shares) 2,990 2,922 2,901 2,912 2,938 2,988 2,848
Diluted (in shares) 3,044 3,113 2,901 2,912 3,080 2,988 2,891
Sell-side advertising              
Revenues              
Total revenues $ 51,622 $ 23,601 $ 13,783 $ 37,384 $ 89,006 $ 122,434 $ 60,011
Cost of revenues              
Total cost of revenues 44,606 20,743 11,841 32,584 77,190 105,733 49,599
Buy-side advertising              
Revenues              
Total revenues 7,850 11,803 7,440 19,243 27,093 34,676 29,349
Cost of revenues              
Total cost of revenues $ 3,113 $ 4,588 $ 2,949 $ 7,537 $ 10,650 $ 13,803 $ 10,439