{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-015145","form_type":"8-K","ticker":"DRCT","cik":"0001880613","company_name":"Direct Digital Holdings, Inc.","filed_at":"2025-03-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:05.465845+00:00","generated_at":"2026-05-24T04:20:03.586270+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Direct Digital Holdings Q4 revenue $9.1M (-78% YoY); reiterates FY2025 guidance $90M-$110M","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."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-015145","json":"https://secwatch.observer/filing/0001628280-25-015145.json","markdown":"https://secwatch.observer/filing/0001628280-25-015145.md","text":"https://secwatch.observer/filing/0001628280-25-015145.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1880613/000162828025015145/0001628280-25-015145-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1880613/000162828025015145/drct-20250327.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-24T04:20:03.586270+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"}