Direct Digital Holdings Q3 revenue down 85% to $9.1M; net loss of $6.4M vs net income of $3.4M YoY

Direct Digital Holdings, Inc.

2024-Q3 EPS reported -$1.11 revenue$53,205,000

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.

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