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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
Revenues                  
Total revenues $ 9,075 $ 59,472 $ 35,404 $ 21,223 $ 56,627 $ 53,205 $ 116,099 $ 157,110 $ 89,360
Cost of revenues                  
Total cost of revenues 5,561 47,719 25,331 14,790 40,121 38,761 87,840 119,536 60,038
Gross profit 3,514 11,753 10,073 6,433 16,506 14,444 28,259 37,574 29,322
Operating expenses                  
Compensation, taxes and benefits 3,526 4,747 4,553 3,634 8,187 12,216 12,934 17,730 14,124
General and administrative 3,646 2,512 3,265 2,940 6,205 10,757 8,718 13,199 7,219
Other expense               8,830  
Total operating expenses 7,172 7,259 7,818 6,574 14,392 22,973 21,652 39,759 21,343
(Loss) income from operations (3,658) 4,494 2,255 (141) 2,114 (8,529) 6,607 (2,185) 7,979
Other income (expense)                  
Other income 99 83 42 50 92 190 175 256 48
Revaluation of tax receivable agreement liability               331  
Loss on early termination of line of credit 0 0   (300) (300) 0 (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 income (expense), net 3,887 (977) (986) (1,267) (2,253) 1,323 (3,229) (4,091) (3,486)
Income (loss) before income taxes 229 3,517 1,269 (1,408) (139) (7,206) 3,378 (6,276) 4,493
Income tax expense   166 74 (74)     166 568 326
Net (loss) income (6,377) 3,351 1,195 (1,334) (139) (13,338) 3,212 (6,844) 4,167
Net (loss) income attributable to noncontrolling interest (3,687) 2,780 1,003 (1,120) (117) (9,283) 2,663 (4,650) 3,962
Net (loss) income attributable to Direct Digital Holdings, Inc. $ (2,690) $ 571 $ 192 $ (214) $ (22) $ (4,055) $ 549 $ (2,194) $ 205
Net (loss) income per common share:                  
Basic (in dollars per share) $ (0.71) $ 0.09 $ 0.03 $ (0.07) $ (0.01) $ (1.11) $ 0.09 $ (0.73) $ 0.11
Diluted (in dollars per share) $ (0.71) $ 0.09 $ 0.03 $ (0.07) $ (0.01) $ (1.11) $ 0.09 $ (0.73) $ 0.11
Weighted-average number of shares of common stock outstanding:                  
Basic (in shares) 3,793,000 2,990,000 2,922,000 2,901,000 2,912,000 3,667,000 2,938,000 2,988,000 2,848,000
Diluted (in shares) 3,793,000 3,044,000 3,113,000 2,901,000 2,912,000 3,667,000 3,080,000 2,988,000 2,891,000
Sell-side advertising                  
Revenues                  
Total revenues $ 2,202 $ 51,622 $ 23,601 $ 13,783 $ 37,384 $ 33,001 $ 89,006 $ 122,434 $ 60,011
Cost of revenues                  
Total cost of revenues 2,654 44,606 20,743 11,841 32,584 30,670 77,190 105,733 49,599
Buy-side advertising                  
Revenues                  
Total revenues 6,873 7,850 11,803 7,440 19,243 20,204 27,093 34,676 29,349
Cost of revenues                  
Total cost of revenues $ 2,907 $ 3,113 $ 4,588 $ 2,949 $ 7,537 $ 8,091 $ 10,650 $ 13,803 $ 10,439