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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Total revenues $ 9,075,000 $ 59,472,000 $ 53,205,000 $ 116,099,000
Cost of revenues        
Total cost of revenues 5,561,000 47,719,000 38,761,000 87,840,000
Gross Profit 3,514,000 11,753,000 14,444,000 28,259,000
Operating expenses        
Compensation, taxes and benefits 3,526,000 4,747,000 12,216,000 12,934,000
General and administrative 3,646,000 2,512,000 10,757,000 8,718,000
Total operating expenses 7,172,000 7,259,000 22,973,000 21,652,000
Total operating (loss) income (3,658,000) 4,494,000 (8,529,000) 6,607,000
Other income (expense)        
Other income 99,000 83,000 190,000 175,000
Loss on early termination of line of credit 0 0 0 (300,000)
Derecognition of tax receivable agreement liability 5,201,000 0 5,201,000 0
Interest expense (1,413,000) (1,060,000) (4,068,000) (3,104,000)
Total other income (expense), net 3,887,000 (977,000) 1,323,000 (3,229,000)
Income (loss) before income taxes 229,000 3,517,000 (7,206,000) 3,378,000
Income tax expense 6,606,000 166,000 6,132,000 166,000
Net (loss) income (6,377,000) 3,351,000 (13,338,000) 3,212,000
Net (loss) income attributable to noncontrolling interest (3,687,000) 2,780,000 (9,283,000) 2,663,000
Net (loss) income attributable to Direct Digital Holdings, Inc. $ (2,690,000) $ 571,000 $ (4,055,000) $ 549,000
Net (loss) income per common share:        
Basic (in dollars per share) $ (0.71) $ 0.09 $ (1.11) $ 0.09
Diluted (in dollars per share) $ (0.71) $ 0.09 $ (1.11) $ 0.09
Weighted-average number of shares of common stock outstanding:        
Basic (in shares) 3,793,000 2,990,000 3,667,000 2,938,000
Diluted (in shares) 3,793,000 3,044,000 3,667,000 3,080,000
Sell-side advertising        
Revenues        
Total revenues $ 2,202,000 $ 51,622,000 $ 33,001,000 $ 89,006,000
Cost of revenues        
Total cost of revenues 2,654,000 44,606,000 30,670,000 77,190,000
Buy-side advertising        
Revenues        
Total revenues 6,873,000 7,850,000 20,204,000 27,093,000
Cost of revenues        
Total cost of revenues $ 2,907,000 $ 3,113,000 $ 8,091,000 $ 10,650,000