{"schema_version":"secwatch.filing_event.v1","accession":"0001880613-25-000079","form_type":"8-K","ticker":"DRCT","cik":"0001880613","company_name":"Direct Digital Holdings, Inc.","filed_at":"2025-08-05T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.501593+00:00","generated_at":"2026-05-17T21:03:19.502287+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Q2 revenue $10.1M (-54% YoY) but +24% seq; net loss improves $1.7M","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."],"urls":{"canonical":"https://secwatch.observer/filing/0001880613-25-000079","json":"https://secwatch.observer/filing/0001880613-25-000079.json","markdown":"https://secwatch.observer/filing/0001880613-25-000079.md","text":"https://secwatch.observer/filing/0001880613-25-000079.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1880613/000188061325000079/0001880613-25-000079-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1880613/000188061325000079/drct-20250805.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T21:03:19.502287+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"}