{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-24-047104","form_type":"8-K","ticker":"DRCT","cik":"0001880613","company_name":"Direct Digital Holdings, Inc.","filed_at":"2024-11-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:10.233341+00:00","generated_at":"2026-05-30T02:17:09.281346+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Direct Digital Holdings Q3 revenue down 85% to $9.1M; net loss of $6.4M vs net income of $3.4M YoY","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."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-24-047104","json":"https://secwatch.observer/filing/0001628280-24-047104.json","markdown":"https://secwatch.observer/filing/0001628280-24-047104.md","text":"https://secwatch.observer/filing/0001628280-24-047104.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1880613/000162828024047104/0001628280-24-047104-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1880613/000162828024047104/drct-20241112.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-30T02:17:09.281346+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}