---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-022684"
form_type: "8-K"
ticker: "DRCT"
cik: "0001880613"
company_name: "Direct Digital Holdings, Inc."
filed_at: "2025-05-06T23:59:59+00:00"
generated_at: "2026-05-22T14:12:39.551591+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Direct Digital Holdings Q1 revenue $8.2M (-63% YoY), net loss $5.9M; maintains FY guidance $90-110M

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-25-022684
- form_type: 8-K
- ticker: DRCT
- cik: 0001880613
- company_name: Direct Digital Holdings, Inc.
- filed_at: 2025-05-06T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1880613/000162828025022684/0001628280-25-022684-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1880613/000162828025022684/drct-20250506.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-022684
- JSON: https://secwatch.observer/filing/0001628280-25-022684.json
- Plain text: https://secwatch.observer/filing/0001628280-25-022684.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.