DRCT · Direct Digital Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Revenue | $34.69M | $62.29M | $157.11M | $38.14M |
| Cost of Revenue | $24.27M | $44.90M | $119.54M | $19.71M |
| Gross Profit | $10.42M | $17.39M | $37.57M | $18.43M |
| R&D | - | - | - | - |
| SG&A | $10.66M | $14.22M | $13.20M | $7.22M |
| Total Operating Expenses | $25.17M | $30.62M | $39.76M | $21.34M |
| D&A | $262.0K | $275.0K | $253.0K | $0 |
| Operating Income | ($14.76M) | ($13.23M) | ($2.19M) | $4.38M |
| Interest Expense | $5.20M | $5.41M | $4.38M | $3.23M |
| Income Tax | $0 | $6.13M | $568.0K | $246.3K |
| Net Income | ($18.95M) | ($6.24M) | ($2.19M) | ($1.51M) |
| EPS - Basic | ($303.16) | ($365.20) | ($160.60) | ($9699.80) |
| EPS - Diluted | ($303.16) | ($365.20) | ($160.60) | ($9699.80) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash & Equivalents | $728.0K | $1.45M | $5.12M | $4.05M |
| Accounts Receivable | $3.13M | $4.97M | $37.21M | $26.35M |
| Inventory | - | - | - | - |
| Accounts Payable | $7.82M | $7.66M | $33.93M | $17.70M |
| Current Assets | $4.74M | $8.54M | $43.08M | $31.28M |
| Total Assets | $20.16M | $26.01M | $70.67M | $58.13M |
| Current Liabilities | $26.43M | $13.35M | $39.80M | $25.57M |
| Long-term Debt | $146.0K | $31.60M | $23.06M | $23.06M |
| Total Liabilities | $27.18M | $45.74M | $74.35M | $53.53M |
| Stockholders' Equity | ($7.02M) | ($19.73M) | ($375.0K) | $4.60M |
| Retained Earnings | ($27.72M) | ($8.77M) | ($2.54M) | ($3.64M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Operating Cash Flow | ($8.91M) | ($8.65M) | $2.56M | $3.75M |
| Investing Cash Flow | ($87.0K) | ($17.0K) | ($178.0K) | ($688.0K) |
| Financing Cash Flow | $8.28M | $4.99M | ($1.31M) | ($678.7K) |
| CapEx | - | - | - | - |
| Free Cash Flow | - | - | - | - |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Profitability | ||||
| Gross margin | 30.0% | 27.9% | 23.9% | 48.3% |
| Operating margin | -42.5% | -21.2% | -1.4% | 11.5% |
| EBITDA margin | -41.8% | -20.8% | -1.2% | 11.5% |
| Net margin | -54.6% | -10.0% | -1.4% | -4.0% |
| Free cash flow margin | - | - | - | - |
| FCF / Net income | - | - | - | - |
| R&D / Revenue | - | - | - | - |
| SG&A / Revenue | 30.7% | 22.8% | 8.4% | 18.9% |
| Effective tax rate | - | - | - | - |
| Return on assets | -94.0% | -24.0% | -3.1% | -2.6% |
| Return on equity | 269.8% | 31.6% | 585.1% | -32.8% |
| Return on invested capital | - | -88.0% | -7.6% | 12.5% |
| Liquidity | ||||
| Current ratio | 0.18 | 0.64 | 1.08 | 1.22 |
| Quick ratio | 0.18 | 0.64 | 1.08 | 1.22 |
| Cash ratio | 0.03 | 0.11 | 0.13 | 0.16 |
| Leverage | ||||
| Debt / Equity | -0.02 | -1.60 | -61.50 | 5.02 |
| Debt / Assets | 0.01 | 1.22 | 0.33 | 0.40 |
| Debt / EBITDA | - | - | - | 5.26 |
| Interest coverage | -2.8x | -2.4x | -0.5x | 1.4x |
| Equity multiplier | -2.87 | -1.32 | -188.46 | 12.65 |
| Liabilities / Assets | 1.35 | 1.76 | 1.05 | 0.92 |
| Efficiency | ||||
| Asset turnover | 1.72 | 2.40 | 2.22 | 0.66 |
| Inventory turnover | - | - | - | - |
| Days sales outstanding | 33d | 29d | 86d | 252d |
| Days inventory outstanding | - | - | - | - |
| Days payable outstanding | 118d | 62d | 104d | 328d |
| Cash conversion cycle | - | - | - | - |
| Valuation | ||||
| P / E | - | - | - | - |
| P / B | - | - | - | 4.0x |
| P / S | 0.1x | 21.1x | 62.3x | 0.5x |
| EV / EBITDA | - | - | - | 8.5x |
| Growth | ||||
| Revenue growth (YoY) | -44.3% | -60.4% | 312.0% | - |
| Revenue CAGR (3y) | -3.1% | - | - | - |
| Revenue CAGR (5y) | - | - | - | - |
| Gross profit growth (YoY) | -40.1% | -53.7% | 103.9% | - |
| Operating income growth (YoY) | -11.5% | -505.6% | - | - |
| Net income growth (YoY) | -203.8% | -184.2% | -45.6% | - |
| EPS growth (YoY) | 17.0% | -127.4% | 98.3% | - |
| EPS CAGR (3y) | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - |
| FCF growth (YoY) | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - |
| Book value growth (YoY) | 64.4% | -5161.3% | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$34.69M totalBuy Side Advertising$29.36M · 84.6%
Sell Side Advertising$5.33M · 15.4%
Product / service
$34.69M totalBuy Side Advertising$29.36M · 84.6%
Sell Side Advertising$5.33M · 15.4%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-2.60
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Services-Advertising
Comparing Direct Digital Holdings against the 5 most active filers in the same SIC group.