{"filings":[{"id":1001316,"accession_number":"0001880613-26-000073","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2026-06-11T20:39:34+00:00","items":["5.08","8.01"],"status":"ready","headline":"Direct Digital Holdings sets 2026 annual meeting for July 31; proxy deadline June 22","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Annual meeting scheduled for July 31, 2026; location TBD in proxy statement.","Stockholder proposals for inclusion in proxy must be received by June 22, 2026.","Deadline for director nominations and other proposals outside Rule 14a-8 also June 22, 2026.","Meeting date is more than 30 days after 2025 annual meeting (June 9, 2025), resetting deadlines."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.1,"calibrated_materiality_score":0.1,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":862157,"accession_number":"0001880613-26-000070","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2026-06-04T20:37:02+00:00","items":["5.02","7.01","9.01"],"status":"ready","headline":"Direct Digital Holdings appoints Ohad Harlev as independent director, effective June 3","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Ohad Harlev appointed as independent director on June 3, 2026; Board size increased.","Harlev brings experience in satellite/telecom, fintech, and M&A; served as CEO of Gizat Global Communications.","He will receive annual cash compensation per the company's director compensation program, prorated for remainder of year.","Harlev does not currently serve on any Board committees.","Appointment made to satisfy obligations under Series A Convertible Preferred Stock certificate of designation."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":581758,"accession_number":"0001628280-26-037230","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2026-05-21T20:04:28+00:00","items":["1.01","8.01","9.01"],"status":"ready","headline":"Direct Digital Holdings amends loan, waives covenant breaches; consolidates segments","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Term loan amendment: $14.8M outstanding, $0.1M fee, new min. EBITDA covenant $200k for Q2 2026; waives Q1 2026 covenant breaches and April 2026 interest nonpayment.","Roth Principal Investments to reimburse 0.6% of VWAP for each equity draw under committed equity facility (April 28, 2026 agreement).","Reportable segments consolidated from two (buy-side, sell-side) to one (digital marketing) effective Q1 2026; prior periods recast.","4-to-1 reverse stock split of Class A and B common stock effected on April 27, 2026; all prior share and per-share data recast.","Recast audited financial statements for FY2025 and FY2024 filed reflecting segment change and reverse split."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":36,"accession_number":"0001880613-26-000057","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2026-05-11T12:35:31+00:00","items":["2.02","9.01"],"status":"ready","headline":"Direct Digital Q1 revenue $6.7M (-18% YoY); net loss $5.6M","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Revenue of $6.7M, down 18% YoY from $8.2M, driven by $2.0M drop in DSP spend.","Gross profit $2.3M (34% margin) vs $2.4M (29%) in Q1 2025.","Operating loss improved to $3.3M from $3.9M; net loss narrowed to $5.6M from $5.9M.","Adjusted EBITDA loss improved to $2.6M from $3.0M in prior year.","Cash $0.8M as of March 31, 2026; conference call set for May 11 at 11:00 AM ET."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":96516,"accession_number":"0001880613-26-000050","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2026-04-28T23:59:59+00:00","items":["1.01","1.02","3.01","3.03","5.03","9.01"],"status":"ready","headline":"DRCT enters $50M equity line with Roth, terminates New Circle ELOC, receives Nasdaq delisting notice","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Entered Common Stock Purchase Agreement with Roth Principal Investments LLC to sell up to $50M of Class A common stock at a fixed 8% discount to VWAP.","Terminated the prior $100M equity line of credit with New Circle Principal Investments LLC effective April 23, 2026.","Received Additional Staff Delisting Determination from Nasdaq for non-compliance with Bid Price Rule (minimum $1.00) on April 23, 2026; hearing scheduled May 12.","Effected a 4-for-1 reverse stock split of Class A and Class B common stock effective April 27, 2026.","Paid Roth $25,000 structuring fee and agreed to reimburse up to $75,000 in legal fees plus $7,500 per quarter for due diligence."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":96515,"accession_number":"0001880613-26-000044","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2026-04-23T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"Direct Digital Holdings announces 4-to-1 reverse stock split effective April 27, 2026","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Reverse split reduces Class A shares from ~2.8M to ~0.7M; Class B from ~0.17M to ~0.04M.","This is the second reverse split in 2026; a 55-to-1 split was effected on Jan 12, 2026.","Split intended to maintain $1.00 minimum bid price on Nasdaq; trading symbol remains DRCT.","No fractional shares issued; cash payment in lieu; transfer agent Equiniti Trust.","CEO Mark Walker says split positions company to meet listing requirements and support investor interest."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":96514,"accession_number":"0001880613-26-000037","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2026-04-07T23:59:59+00:00","items":["3.01"],"status":"ready","headline":"Direct Digital receives Nasdaq delisting notice over ($7.0M) stockholders' deficit","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["Received Nasdaq Staff Delisting Determination on April 2, 2026 for failing minimum $2.5M stockholders' equity rule.","Reported stockholders' deficit of ($7.0M) as of Dec 31, 2025 in Form 10-K.","Company intends to request a hearing by April 9, 2026; stay of suspension pending hearing.","Previously regained Bid Price Rule compliance on Feb 12, 2026; under Panel Monitor through Feb 12, 2027.","No assurance that Nasdaq will grant hearing or that compliance will be regained."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":96513,"accession_number":"0001880613-26-000034","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2026-04-01T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Direct Digital Holdings reports Q4 and full year 2025 results; buy-side revenue up 28% but net loss widens","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q4 2025 consolidated revenue $8.4M, down 7% YoY; buy-side revenue $8.2M, up 28%.","Net loss for Q4 2025 was $12.6M vs $6.6M loss in Q4 2024.","Full year 2025 revenue $34.7M, down 44%; buy-side revenue $29.4M, up 10%.","Launched AI-enabled Ignition+ programmatic media solution in March 2026.","Implemented 55-to-1 reverse stock split to regain Nasdaq compliance; issued $35M Series A Convertible Preferred Stock."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":110495,"accession_number":"0001880613-26-000024","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2026-02-12T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Direct Digital Holdings regains Nasdaq bid price compliance after 55-to-1 reverse stock split","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["Received Nasdaq notice on Feb 12, 2026 that bid price ≥ $1.00 for 20 consecutive business days.","Effected a 55-to-1 reverse stock split on Jan 12, 2026 to address the bid price deficiency.","Company remains subject to a Panel Monitor for one year; failure to maintain compliance may trigger delisting.","CEO Mark Walker stated compliance is an important step in executing strategic goals.","Stock continues trading on Nasdaq Capital Market under ticker DRCT."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":110494,"accession_number":"0001880613-26-000015","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2026-02-09T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"DRCT posts 60% revenue drop, $19.9M net loss; auditor flags going concern; reverse split recast","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Revenue fell to $62.3M in FY2024 from $157.1M in FY2023, with sell-side advertising revenue collapsing from $122.4M to $35.7M.","Net loss widened to $19.9M in FY2024 vs $6.8M in FY2023; cash dropped to $1.4M from $5.1M at year end.","Auditor BDO included a going-concern qualification citing sell-side disruption and limited funds to meet upcoming obligations.","Financials recast for a 55-to-1 reverse stock split effective Jan 12, 2026, aimed at regaining Nasdaq bid price compliance."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":110493,"accession_number":"0001880613-26-000011","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2026-01-30T23:59:59+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"DRCT enters loan amendment, waives multiple defaults, adds $4M fee to principal","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Outstanding term loans $10.3M; $4M amendment fee added to principal, bears interest at Term Loan Rate + 2%.","Existing defaults waived: missed minimum cash, EBITDA covenants, non-payment of interest/fees, missing independent director.","Financial covenants modified: removed minimum quarterly EBITDA and sell-side revenue covenant for Q4 2025.","No principal payments due Q1/Q2 2026; payments resume Q3 2026, maturity September 30, 2026.","Preferred equity conversion terms amended; Lafayette Square holds $27.1M Series A preferred plus $1.2M accrued dividends."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":110492,"accession_number":"0001880613-26-000009","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2026-01-29T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"Direct Digital Holdings amends equity reserve facility pricing option with New Circle","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Amendment No. 2 changes Option 1 Pricing Period start time for share purchases; notice before 9 AM ET uses open of trading, after uses acceptance time.","Original $100M commitment and 97.5% discount for Option 2 pricing remain unchanged.","Proceeds from share sales expected to reduce debt and for general corporate purposes; no guarantee any shares will be issued.","Amendment dated January 23, 2026; rest of Purchase Agreement unchanged."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":110491,"accession_number":"0001880613-26-000006","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2026-01-12T23:59:59+00:00","items":["3.03","5.03","8.01","9.01"],"status":"ready","headline":"Direct Digital Holdings announces 55-to-1 reverse stock split to regain Nasdaq compliance","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Reverse split ratio 55-to-1 effective Jan 12, 2026; approved by stockholders Dec 30, 2025.","Class A shares reduce from ~68.9M to ~1.3M; Class B from ~9.3M to ~0.2M.","Split intended to regain Nasdaq $1.00 minimum bid price compliance.","No fractional shares; cash in lieu based on closing price at effective time."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":110490,"accession_number":"0001880613-26-000003","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2026-01-06T23:59:59+00:00","items":["5.02","5.07","9.01"],"status":"ready","headline":"Shareholders approve reverse stock split, 100M share facility, plan increase, and settlement shares","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Authorized reverse stock split at ratio up to 250:1, board discretion to implement before Dec 26, 2026.","Authorized issuance of up to 100M shares of Class A common stock under Equity Reserve Facility with New Circle Principle Investments.","Approved amendment to 2022 Omnibus Incentive Plan, increasing authorized shares by 9M to total 16.5M shares.","Authorized issuance of up to 41,751,437 shares of Class A common stock as part of court-approved settlement.","All four proposals passed with over 97% of votes cast in favor."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":127107,"accession_number":"0001880613-25-000158","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-12-29T23:59:59+00:00","items":["5.07","8.01"],"status":"ready","headline":"Direct Digital Holdings special meeting adjourned due to lack of quorum; reconvenes Jan 2, 2026","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Quorum not present at Dec 26 special meeting; no business conducted.","Meeting adjourned to Jan 2, 2026 at 9:30 a.m. CT; record date remains Nov 26, 2025.","Proxies previously submitted remain valid and will be voted at reconvened meeting unless revoked."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.2,"calibrated_materiality_score":0.2,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":127098,"accession_number":"0001880613-25-000161","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K/A","filed_at":"2025-12-29T23:59:59+00:00","items":["5.07","8.01"],"status":"ready","headline":"Direct Digital Holdings adjourns special meeting to Dec 30 after quorum failure; corrected date in amendment","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Special meeting convened Dec 26, 2025 lacked quorum; no business was conducted.","Adjourned to Dec 30, 2025 at 9:30 a.m. CT (corrected from original filing).","Record date remains Nov 26, 2025; previously submitted proxies remain valid.","Proposals as per proxy statement filed Dec 15, 2025 to be voted at reconvened meeting."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":127106,"accession_number":"0001880613-25-000153","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-12-05T23:59:59+00:00","items":["3.02"],"status":"ready","headline":"Direct Digital Holdings sells 12.6M shares unregistered for $1.32M to New Circle","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Sold 12,600,000 Class A common shares to New Circle Principal Investments LLC since Sept 30, 2025, for $1,324,380 cash.","Sales exceed 5% of shares outstanding as of Sept 30, 2025, triggering 8-K filing.","Shares issued under pre-existing Equity Reserve Facility; New Circle is accredited investor.","Exemption from registration under Section 4(a)(2) of Securities Act."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":127105,"accession_number":"0001880613-25-000144","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-11-26T23:59:59+00:00","items":["3.02"],"status":"ready","headline":"Direct Digital issues up to 50M shares to settle $3M vendor payable claims","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Issued up to 50,000,000 shares to Continuation Capital to settle $3,020,932 in vendor payable claims.","Settlement price set at 76% of lower of VWAP or average of four lowest closing prices in a 5-day valuation period.","Paid additional 95,000 shares as a settlement fee upon agreement execution.","Court approved settlement on Nov 21, 2025; shares exempt from registration under Section 3(a)(10)."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":127104,"accession_number":"0001880613-25-000140","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-11-14T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Direct Digital Q3 revenue down 12% to $8.0M; buy-side up 7%, sell-side plummets","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Revenue $8.0M vs $9.1M Q3 2024; sell-side revenue fell to $0.6M from $2.2M.","Buy-side revenue grew 7% to $7.3M, driven by new verticals ($2.1M).","Operating loss ($3.9M); net loss improved to ($5.0M) or ($0.24) from ($6.4M) or ($0.71).","Cash and equivalents $0.9M at Sept 30; issued $25M in convertible preferred stock (additional $10M Oct 14).","Expanded equity reserve facility to $100M, raised $8.9M since Nov 2024."],"consensus_eps_estimate":-3.366,"consensus_eps_actual":-0.78,"consensus_revenue_estimate":null,"consensus_revenue_actual":26286000.0,"consensus_period":"2025-Q3","consensus_source":"xbrl+finnhub","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":127103,"accession_number":"0001880613-25-000136","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-11-13T23:59:59+00:00","items":["3.01","8.01"],"status":"ready","headline":"Nasdaq Panel grants Direct Digital Holdings exception until Jan 30, 2026 for bid price compliance","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["Panel Decision confirms compliance with minimum stockholders' equity rule; matter closed.","Company has until Jan 30, 2026 to demonstrate bid price compliance (close at $1.00+ for 10 consecutive days).","Company remains subject to discretionary Panel Monitor for one year; failure may trigger delisting.","Company considering reverse stock split to regain compliance; no assurance of success.","Second notice received Nov 13, 2025 indicates non-compliance but no immediate effect on trading."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":127102,"accession_number":"0001880613-25-000129","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-10-30T23:59:59+00:00","items":["1.01","3.02","9.01"],"status":"ready","headline":"Direct Digital ups equity facility to $100M; amends credit to allow preferred-to-common exchange","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Increased equity facility with New Circle from $20M to $100M; $50k fee per $5M drawn plus 100,000-share upsize fee.","Tenth Amendment enables $35M of Series A Preferred to be exchanged into Class A Common at 20-day VWAP; exit fee of $35M due when preferred is gone, reduced by redemptions.","Proceeds from equity sales expected to reduce debt and fund working capital; company acknowledges substantial doubt about going concern.","Credit parties agreed to pay $35M exit fee on preferred, waived if fully redeemed by Dec 31, 2026."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":127101,"accession_number":"0001880613-25-000123","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-10-20T23:59:59+00:00","items":["1.01","2.03","3.02","3.03","5.03","9.01"],"status":"ready","headline":"Direct Digital converts $10M debt to preferred; adds EBITDA loss covenants","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Converted $10M term loans into 10,000 Series A Preferred shares; total preferred face now $35M.","Paid $3.5M amendment fee added to principal; $9.99M term loans remain outstanding.","New covenants: min cash $0.45M, min quarterly EBITDA loss $(0.652M) and $(1.921M) for Q4 2025 and Q1 2026.","Existing defaults (non-payment, EBITDA miss, cash covenant) waived; must appoint independent director by Oct 29.","Preferred pays 10% cumulative dividend, converts at $2.50/sh, liquidation preference 3x accumulation."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":127100,"accession_number":"0001880613-25-000120","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-10-15T23:59:59+00:00","items":["5.07","8.01","9.01"],"status":"ready","headline":"Direct Digital Holdings shareholders approve share increase; company converts $35M debt to preferred","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["Shareholders approved increasing authorized Class A shares from 160M to 760M and issuance of up to 50M shares under equity line.","Company converted $25M term loan to Series A Preferred on Aug 8, 2025, and additional $10M on Oct 14, 2025.","Sold 3.7M shares for $1.3M in Q3 2025 under Share Purchase Agreement; total $8.9M raised since inception.","Company now believes it satisfies Nasdaq's $2.5M stockholders' equity requirement; awaiting formal determination.","Also faces minimum bid price compliance; has until Nov 10, 2025 to regain compliance."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":127099,"accession_number":"0001880613-25-000116","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-10-02T23:59:59+00:00","items":["3.02"],"status":"ready","headline":"Direct Digital Holdings sells 2.4M shares for $755K to New Circle under equity facility","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Sold 1.4M shares for $451,983 (9/16-9/26) and 1M shares for $303,400 (9/26-9/30).","Sales exceed 5% of outstanding shares, triggering Form 8-K filing requirement.","Purchaser New Circle is an accredited investor; shares exempt under Section 4(a)(2).","Part of previously disclosed Equity Reserve Facility with New Circle."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":143896,"accession_number":"0001880613-25-000110","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-09-22T23:59:59+00:00","items":["3.02"],"status":"ready","headline":"Direct Digital sells 700k shares at ~$0.39 each to New Circle for $276k under facility","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Sold 700,000 Class A common shares for $275,993 cash with $8,997 discount since Aug 6, 2025.","Sales made to New Circle Principal Investments LLC under previously disclosed Equity Reserve Facility.","Filing triggered because aggregate shares sold exceeded 5% of outstanding shares as of Aug 6, 2025.","Shares issued in reliance on Section 4(a)(2) accredited investor exemption.","Implies significant dilution at approximately $0.394 per share, indicating need for capital."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":143895,"accession_number":"0001880613-25-000101","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-09-12T23:59:59+00:00","items":["1.01","1.02","2.03","9.01"],"status":"ready","headline":"Direct Digital Holdings obtains $3.8M term loan to repay revolver; lender waives defaults","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["DDH LLC borrowed $3.8M (incl. $93K interest reserve) from Lafayette Square, maturing Oct. 30, 2025.","Proceeds used to repay and terminate the $5M East West Bank revolving credit facility.","Existing defaults on interest payments for July and Aug 2025 waived by lender.","Total term loans outstanding now $13.2M; $37,500 amendment fee and $616,795 accrued interest due Sep. 30, 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":143894,"accession_number":"0001880613-25-000088","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-08-12T23:59:59+00:00","items":["3.02"],"status":"ready","headline":"Direct Digital Holdings sold 1M shares to New Circle for $439,531 under equity facility","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Sold 1,000,000 Class A common shares for $439,531 in cash, net of $18,359 discount.","Purchaser is New Circle Principal Investments LLC, an accredited investor, under previously disclosed Equity Reserve Facility.","Sales triggered 8-K filing because aggregate shares since May 16, 2025 exceeded 5% of outstanding.","Securities issued in reliance on Section 4(a)(2) exemption from registration requirements."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"calibrated_materiality_score":0.3,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":143893,"accession_number":"0001104659-25-075879","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-08-11T23:59:59+00:00","items":["1.01","3.02","3.03","5.03","9.01"],"status":"ready","headline":"Direct Digital converts $25M term loans to Series A Preferred; debt reduced to $9.4M","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["$25M of term loans exchanged for Series A Preferred stock issued to Lafayette Square; remaining term loan debt $9.36M.","Series A Preferred carries 10% cumulative dividend, convertible at $2.50/share, and liquidation preference up to 3x after Oct 15, 2025.","Credit parties must maintain minimum EBITDA of $1M for Q3/Q4 2025 and $500M thereafter; cash covenant set at $1.5M.","A $25M exit fee on preferred redemption is waived if fully redeemed by Dec 31, 2026; $1M closing fee due by Sept 30, 2025.","Preferred stock is senior to common, voting on as-converted basis, with protective provisions requiring majority holder consent for key actions."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":143892,"accession_number":"0001880613-25-000079","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-08-05T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Q2 revenue $10.1M (-54% YoY) but +24% seq; net loss improves $1.7M","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Revenue $10.1M, down 54% YoY ($21.9M) but up 24% from Q1 2025; gross margin 35% vs 29% seq.","Net loss improved $1.7M sequentially; adjusted EBITDA loss improved $1.6M.","Operating expenses cut 25% YoY; sell-side impressions ~182B monthly.","Sell-side advertisers +30% YoY; buy-side served 220+ customers with $1.0M from new verticals.","Company expects full integration of direct connections in H2 to drive growth."],"consensus_eps_estimate":-108.834,"consensus_eps_actual":-0.55,"consensus_revenue_estimate":null,"consensus_revenue_actual":18301000.0,"consensus_period":"2025-Q2","consensus_source":"xbrl+finnhub","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":143891,"accession_number":"0001880613-25-000065","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-07-18T23:59:59+00:00","items":["1.01","9.01"],"status":"ready","headline":"Direct Digital extends credit maturity to July 31, 2025; pays $50k fee and 5% additional interest","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Fifth Amendment with East West Bank extends maturity from July 7 to July 31, 2025.","Borrowers pay $50,000 extension fee and interest at existing rate plus 5% per annum from July 7 onward.","No further advances will be made under the credit agreement.","Amendment covers Direct Digital Holdings, LLC, Colossus Media, Huddled Masses, and Orange142 as co-borrowers."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":162176,"accession_number":"0001880613-25-000021","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-06-10T23:59:59+00:00","items":["5.03","5.07","8.01","9.01"],"status":"ready","headline":"Direct Digital Holdings shareholders approve governance changes; Nasdaq grants compliance extension to Oct 14, 2025","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Stockholders elected five directors: Mark D. 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Smith, Richard Cohen, Antoinette Leatherberry, Mistelle Locke.","Amendment to 2022 Omnibus Incentive Plan approved to increase shares issuable by 4,000,000 shares.","Certificate of Incorporation amended to provide officer exculpation and delete Section 203 waiver.","Nasdaq Hearings Panel granted extension through October 14, 2025, to regain compliance with stockholders' equity requirement.","Company must satisfy interim conditions or face delisting from Nasdaq."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":162175,"accession_number":"0001628280-25-028575","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-05-30T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Direct Digital Holdings amends executive employment agreements for CEO, President, and CFO","summary_kind":"llm","event_type":"leadership","confidence":"high","bullets":["Mark Walker (CEO), Keith Smith (President) and Diana Diaz (CFO) entered into amended employment agreements effective May 27, 2025.","Annual base salaries remain unchanged: $500,000 for Walker and Smith, $350,000 for Diaz.","Change-in-control severance lump sum increased from 1x to 2x target bonus, and non-compete extended to 18 months post-CIC.","Severance eligibility limited to events within two years following a change in control, not any time after.","Good reason definition revised to include base salary cuts over 20% (affecting only non-proportional reductions) and relocation over 50 miles."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":162174,"accession_number":"0001628280-25-026328","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-05-16T23:59:59+00:00","items":["3.01","3.02","9.01"],"status":"ready","headline":"Direct Digital receives Nasdaq bid price non-compliance notice; sells 1.1M shares for $571k","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Nasdaq notified DRCT of non-compliance with minimum bid price rule ($1.00) for 30 consecutive business days; 180-day cure period until Nov 10, 2025.","Company sold 1,100,000 shares of Class A common stock to New Circle Principal Investments for $570,924 cash from May 13-16, 2025.","If compliance not regained by Nov 10, may be eligible for 180-day extension subject to meeting other Nasdaq listing standards.","Immediate trading unaffected; company evaluating options including potential reverse stock split to cure deficiency."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":162173,"accession_number":"0001628280-25-025197","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-05-13T23:59:59+00:00","items":["3.02","9.01"],"status":"ready","headline":"Direct Digital Holdings sells 2.3M shares for $1.39M under equity facility to New Circle","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Since April 8 through May 13, 2025, sold 2,300,000 Class A shares at aggregate $1,387,015 cash after $57,795 discount.","Shares sold to New Circle Principal Investments LLC under previously disclosed Equity Reserve Facility and Purchase Agreement.","Sale triggered disclosure because aggregate shares exceeded 5% of outstanding Class A common stock as of April 8, 2025.","Issuance relied on Section 4(a)(2) exemption; New Circle represented as accredited investor.","Transaction is dilutive to existing shareholders with no stated use of proceeds."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":162172,"accession_number":"0001628280-25-022684","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-05-06T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Direct Digital Holdings Q1 revenue $8.2M (-63% YoY), net loss $5.9M; maintains FY guidance $90-110M","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Revenue of $8.2M declined 63% vs $22.3M in Q1 2024; sell-side segment down 88% to $2.0M.","Net loss widened to $5.9M from $3.8M; operating loss $3.9M; adjusted EBITDA loss $3.0M.","Buy-side revenue up 6% to $6.1M; operating expenses cut 19% to $6.3M, partly from cost-saving measures.","Maintains full-year 2025 revenue guidance of $90M-$110M, expecting sell-side recovery in H2.","Cash and equivalents $1.8M as of Mar 31, 2025, up from $1.4M at Dec 31, 2024."],"consensus_eps_estimate":null,"consensus_eps_actual":-0.35,"consensus_revenue_estimate":null,"consensus_revenue_actual":8157000.0,"consensus_period":"2025-Q1","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":162171,"accession_number":"0001628280-25-018378","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-04-18T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Direct Digital Holdings receives Nasdaq delisting notice for failure to meet equity requirement; will appeal","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["Nasdaq will suspend DRCT trading on April 28, 2025 for failing to meet minimum stockholders' equity requirement.","Company missed extension deadline of April 16, 2025 to complete capital raising and show compliance.","Company plans to appeal to Nasdaq Hearings Panel; trading continues on Nasdaq during appeal process.","No guarantee the Panel will grant an extension or that compliance can be regained."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":162170,"accession_number":"0001628280-25-017522","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-04-11T23:59:59+00:00","items":["3.02","5.08","8.01"],"status":"ready","headline":"Direct Digital sells 800k shares for $411k via equity facility; annual meeting June 9","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Sold 500k shares for $272,107 (after $11,338 discount) from Apr 1-7, 2025 to New Circle Principle Investments.","Additional 300k shares sold for $139,248 (after $5,802 discount) through Apr 11, 2025 under same facility.","Sales exceeded 5% of outstanding shares, triggering Item 3.02 filing requirement.","Annual meeting set for June 9, 2025; stockholder proposals and nominations due April 21, 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":162169,"accession_number":"0001628280-25-016876","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-04-07T23:59:59+00:00","items":["3.02"],"status":"ready","headline":"Direct Digital Holdings sold 370K shares for $221K under equity facility to New Circle","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Sold 370,000 shares of Class A common stock for $221,076 in cash consideration.","Total discount of $9,213 applied on the shares sold.","Shares sold to New Circle Principle Investments LLC under an existing Equity Reserve Facility.","Sales exceeded 5% of outstanding shares as of March 25, 2025; unregistered under Section 4(a)(2)."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.35,"calibrated_materiality_score":0.35,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":180175,"accession_number":"0001628280-25-015145","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-03-27T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Direct Digital Holdings Q4 revenue $9.1M (-78% YoY); reiterates FY2025 guidance $90M-$110M","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Q4 2024 revenue $9.1M, down 78% YoY; sell-side revenue $2.7M (-92%) due to customer suspension after defamatory article.","Net loss $6.6M vs $10.1M prior year; Adjusted EBITDA loss $3.4M, improved from $6.6M loss.","Full-year revenue $62.3M; reiterates FY2025 guidance $90M-$110M with expected H2 strength.","Litigation: defamation lawsuit allowed to proceed; company expects continued pursuit of judgment.","Cash $1.4M at year-end; $20M Equity Reserve Facility from Oct 2024 enhances financial flexibility."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":180174,"accession_number":"0001628280-25-004425","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-02-07T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Direct Digital Holdings receives Nasdaq extension to March 31, 2025 for equity compliance","summary_kind":"llm","event_type":"regulatory","confidence":"high","bullets":["On Feb 4, 2025, Nasdaq granted Direct Digital an extension until March 31, 2025 to complete compliance plan.","Company was notified of non-compliance with minimum stockholders' equity requirement on Oct 18, 2024 per Nasdaq Rule 5550(b)(1).","Company intends to take all reasonable measures to regain compliance but cannot assure completion.","Non-compliance has no immediate effect on trading of Class A Common Stock (DRCT) on Nasdaq Capital Market."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":180173,"accession_number":"0001628280-25-003663","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-02-04T23:59:59+00:00","items":["3.02","9.01"],"status":"ready","headline":"Direct Digital Holdings sells 389,351 shares (~5%+) to New Circle for $503K in unregistered transaction","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Sold 389,351 shares of Class A common stock to New Circle Principle Investments LLC for $503,394 cash (after $20,975 discount).","Sales occurred Jan 7–29, 2025, exceeding 5% of outstanding shares as of Jan 7, 2025.","Issued under previously disclosed Equity Reserve Facility (Share Purchase Agreement) relying on Section 4(a)(2) exemption.","New Circle represented as an accredited investor under Rule 501(a) of Regulation D."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":180172,"accession_number":"0001628280-25-001345","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-01-13T23:59:59+00:00","items":["3.02","9.01"],"status":"ready","headline":"Direct Digital Holdings sells 800K shares of Class A common for ~$1.1M in unregistered deals","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Dec 31, 2024 – Jan 6, 2025: sold 400K shares to New Circle for $620,371 cash (after $25,849 discount).","Jan 6–7, 2025: sold additional 400K shares to New Circle for $488,145 cash (after $20,335 discount).","Each tranche exceeded 5% of outstanding shares, triggering Item 3.02 disclosure.","Shares issued under Equity Reserve Facility; relied on Section 4(a)(2) exemption for accredited investor."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":180171,"accession_number":"0001628280-25-000266","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2025-01-03T23:59:59+00:00","items":["1.01","3.02","9.01"],"status":"ready","headline":"DRCT amends credit agreements, waives defaults, obtains $6M term loan, sells shares","summary_kind":"llm","event_type":"debt","confidence":"high","bullets":["Prepaid $5M on EWB revolver to reduce commitment to $5M; new Lafayette Square term loan of $6M.","Covenants amended: minimum EBITDA removed, replaced with $750k unrestricted cash requirement.","Existing defaults under EBITDA covenants waived under both East West and Lafayette Square agreements.","Sold 800k shares of Class A common stock to New Circle for ~$1.64M total cash consideration.","Weekly cash flow forecasts required under both amended credit agreements."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":196965,"accession_number":"0001628280-24-052569","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2024-12-30T23:59:59+00:00","items":["3.02","5.07","9.01"],"status":"ready","headline":"Direct Digital Holdings (DRCT) sells 540,000 shares to New Circle, holds annual meeting","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Sold 240,000 Class A shares to New Circle for $222,022 from Dec 12-20, 2024.","Sold additional 300,000 Class A shares for $1,057,032 from Dec 20-24, 2024.","At Dec 27 annual meeting, stockholders elected five directors including Mark D. Walker.","Ratified BDO USA as independent auditor for FY2024 with 12,959,193 votes for.","Approved amendment to 2022 Omnibus Incentive Plan adding 2,000,000 shares and approved issuance of up to 8,500,000 shares under Equity Reserve Facility."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":196964,"accession_number":"0001628280-24-051878","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2024-12-18T23:59:59+00:00","items":["3.02","5.02","9.01"],"status":"ready","headline":"Direct Digital Holdings sells 220K shares at ~$0.83 each; CEO and President rescind 2023 RSUs","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Sold 220,000 Class A shares to New Circle Principle Investments for $182,843 cash ($0.831/share) under equity reserve facility.","Unregistered sale exceeded 5% of outstanding shares as of Dec 3, 2024; issued under Section 4(a)(2).","CEO Mark Walker and President Keith Smith rescind cliff-vesting RSU (40,000 shares each) and first 3-year installment (9,970 shares each).","Rescission covers shares issued in 2024 for those RSUs; executives voluntarily requested the cancellation."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":196963,"accession_number":"0001628280-24-050442","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2024-12-09T23:59:59+00:00","items":["3.02","9.01"],"status":"ready","headline":"Direct Digital Holdings sells 220K shares for $241K to New Circle under equity facility","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Sold 220,000 shares of Class A common stock for $241,095.80, after $10,048.20 discount.","Shares exceed 5% of outstanding as of Sept 30, 2024; sold to New Circle Principle Investments LLC.","Exempt from registration under Section 4(a)(2) as sale to accredited investor.","Sales occurred between Sept 30 and Dec 3, 2024 under previously disclosed Equity Reserve Facility."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.35,"calibrated_materiality_score":0.35,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":196962,"accession_number":"0001628280-24-047104","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2024-11-12T23:59:59+00:00","items":["2.02","9.01"],"status":"ready","headline":"Direct Digital Holdings Q3 revenue down 85% to $9.1M; net loss of $6.4M vs net income of $3.4M YoY","summary_kind":"llm","event_type":"earnings","confidence":"high","bullets":["Consolidated operating loss of $3.7M compared to operating income of $4.5M in Q3 2023.","Sell-side advertising revenue fell 96% to $2.2M after a major customer paused connection following a defamatory article; customer has since restored but not yet full volume.","Buy-side revenue dropped 12% to $6.9M; Adjusted EBITDA loss of $2.9M vs positive $5.4M in Q3 2023.","FY2024 revenue guidance $60-70M; FY2025 $90-110M; $20M equity reserve facility with New Circle announced.","Company launching Colossus Connections to accelerate direct demand-side integrations, with two DSP signings expected live in 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":-1.11,"consensus_revenue_estimate":null,"consensus_revenue_actual":53205000.0,"consensus_period":"2024-Q3","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":196961,"accession_number":"0001628280-24-043811","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2024-10-25T23:59:59+00:00","items":["5.08","8.01"],"status":"ready","headline":"Direct Digital Holdings sets 2024 annual meeting for Dec 27; proxy deadline Nov 5","summary_kind":"llm","event_type":"other","confidence":"high","bullets":["Annual meeting scheduled for December 27, 2024; location and time to be in proxy statement.","Stockholder proposals under Rule 14a-8 must be received by November 5, 2024.","Director nominations and other non-14a-8 proposals also due by close of business November 5, 2024.","Universal proxy rule compliance notices required by November 5, 2024, per company bylaws."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.15,"calibrated_materiality_score":0.15,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":196960,"accession_number":"0001104659-24-110093","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2024-10-21T23:59:59+00:00","items":["1.01","3.01","3.02","7.01","9.01"],"status":"ready","headline":"Direct Digital Holdings enters $20M equity facility with New Circle and receives Nasdaq deficiency notice","summary_kind":"llm","event_type":"other_material","confidence":"high","bullets":["Entered $20M equity reserve facility with New Circle Principal Investments LLC to issue up to $20M of Class A common stock over 36 months.","Received Nasdaq deficiency letter on Oct 18, 2024 for failing minimum stockholders' equity requirement; reported $8.77M deficit.","Must submit compliance plan by Dec 2, 2024 to avoid delisting; intends to use facility proceeds to regain compliance.","Press release Oct 21 states proceeds will reduce debt and fund growth initiatives across Colossus SSP, Orange142, and Huddled Masses."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.9,"calibrated_materiality_score":0.9,"market_cap_usd":2644443.817322835,"market_cap_bucket":"microcap","market_cap_source":"finnhub_profile2","market_cap_as_of_date":"2026-05-28","daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":196959,"accession_number":"0001104659-24-109140","cik":1880613,"company_name":"Direct Digital Holdings, Inc.","ticker":"DRCT","form_type":"8-K","filed_at":"2024-10-16T23:59:59+00:00","items":["8.01"],"status":"ready","headline":"Direct Digital Holdings regains Nasdaq compliance for periodic filing; 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