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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Total revenues $ 21,855 $ 35,404 $ 44,130 $ 56,627
Cost of revenues        
Total cost of revenues 15,924 25,331 33,201 40,121
Gross profit 5,931 10,073 10,929 16,506
Operating expenses        
Compensation, taxes and benefits 4,166 4,553 8,690 8,187
General and administrative 3,830 3,265 7,112 6,205
Total operating expenses 7,996 7,818 15,802 14,392
(Loss) income from operations (2,065) 2,255 (4,873) 2,114
Other income (expense)        
Other income 8 42 92 92
Loss on early termination of line of credit 0 0 0 (300)
Interest expense (1,358) (1,028) (2,655) (2,045)
Total other expense, net (1,350) (986) (2,563) (2,253)
(Loss) income before income taxes (3,415) 1,269 (7,436) (139)
Income tax (benefit) expense (274) 74 (475) 0
Net (loss) income (3,141) 1,195 (6,961) (139)
Net (loss) income attributable to noncontrolling interest (2,551) 1,003 (5,596) (117)
Net (loss) income attributable to Direct Digital Holdings, Inc. $ (590) $ 192 $ (1,365) $ (22)
Net (loss) income per common share:        
Basic (in dollars per share) $ (0.16) $ 0.03 $ (0.38) $ (0.01)
Diluted (in dollars per share) $ (0.16) $ 0.03 $ (0.38) $ (0.01)
Weighted-average number of shares of common stock outstanding:        
Basic (in shares) 3,700,615 2,921,258 3,604,220 2,911,801
Diluted (in shares) 3,700,615 3,113,189 3,604,220 2,911,801
Sell-side advertising        
Revenues        
Total revenues $ 14,298 $ 23,601 $ 30,799 $ 37,384
Cost of revenues        
Total cost of revenues 13,209 20,743 28,016 32,584
Buy-side advertising        
Revenues        
Total revenues 7,557 11,803 13,331 19,243
Cost of revenues        
Total cost of revenues $ 2,715 $ 4,588 $ 5,185 $ 7,537