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Direct Digital Holdings (DRCT) investor relations material
Direct Digital Holdings Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary5 Aug, 2025
Executive summary
Q2 2025 revenue increased 24% sequentially to $10.1M, but fell 54% year-over-year due to an 83% drop in sell-side revenue from a major disruption and negative publicity; buy-side revenue was flat or slightly up.
Cost-saving initiatives reduced operating expenses by 25% year-over-year, with staff cuts and use of AI to supplement reduced staffing.
Net loss for Q2 2025 was $4.2M ($0.23/share), up from $3.1M in Q2 2024; Adjusted EBITDA loss was $1.5M, both improving sequentially.
Substantial doubt exists about ability to continue as a going concern due to ongoing losses, low cash, debt maturities, and Nasdaq delisting risk.
Focus remains on revenue diversification, direct connections, and new verticals to drive future growth.
Financial highlights
Q2 2025 consolidated revenue: $10.1M (down from $21.9M in Q2 2024, up 24% sequentially); H1 2025: $18.3M (down 59%).
Sell-side revenue: $2.5M in Q2 2025 (down 83% year-over-year); buy-side revenue: $7.7M (up 1% year-over-year).
Gross margin improved to 35% in Q2 2025 from 27% in Q2 2024 and 29% in Q1 2025.
Operating loss was $2.4M in Q2 2025, down 38% sequentially; net loss per share was $0.23.
Cash and equivalents at quarter end: $1.6M; working capital deficit: $6.9M; total debt: $38.1M–$41.2M.
Outlook and guidance
No specific revenue guidance provided due to macro uncertainty and ongoing sell-side business rebuild.
Management expects a strong back half of 2025, especially as DSP integrations and direct connections complete.
If unable to regain Nasdaq compliance by October 14, 2025, shares may be delisted.
Seasonality expected, with Q4 typically strongest for sell-side and Q2/Q3 for buy-side.
What specific macro factors affect H2 revenue?
Detail Colossus Connections' integration ramp.
How does AI enhance efficiency post-staff cuts?
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Next Direct Digital Holdings earnings date
Q3 202511 Nov, 2025
Next Direct Digital Holdings earnings date
Q3 202511 Nov, 2025
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Frequently asked questions
Direct Digital Holdings, Inc. (DRCT) is an integrated platform specializing in programmatic advertising services, focusing on both the buy-side and sell-side of the digital advertising ecosystem. The company's comprehensive suite includes advertising technology, data-driven campaign optimization, and other solutions aimed at addressing the needs of underserved and less efficient markets. The company processes billions of impressions and auction bid requests each month through its proprietary platforms, including the Colossus SSP for the sell-side and Huddled Masses for the buy-side, aiming to drive higher ROI for its clients. Direct Digital Holdings is headquartered in Houston, Texas, and its shares are listed on the Nasdaq.
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