Direct Digital Q3 revenue down 12% to $8.0M; buy-side up 7%, sell-side plummets

Direct Digital Holdings, Inc.

2025-Q3 EPS reported -$0.78 vs consensus -$3.37 ▲ beat (+76.8%)

Revenue $8.0M vs $9.1M Q3 2024; sell-side revenue fell to $0.6M from $2.2M.
Buy-side revenue grew 7% to $7.3M, driven by new verticals ($2.1M).
Operating loss ($3.9M); net loss improved to ($5.0M) or ($0.24) from ($6.4M) or ($0.71).
Cash and equivalents $0.9M at Sept 30; issued $25M in convertible preferred stock (additional $10M Oct 14).
Expanded equity reserve facility to $100M, raised $8.9M since Nov 2024.

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