DRCT posts 60% revenue drop, $19.9M net loss; auditor flags going concern; reverse split recast

Direct Digital Holdings, Inc.

Revenue fell to $62.3M in FY2024 from $157.1M in FY2023, with sell-side advertising revenue collapsing from $122.4M to $35.7M.
Net loss widened to $19.9M in FY2024 vs $6.8M in FY2023; cash dropped to $1.4M from $5.1M at year end.
Auditor BDO included a going-concern qualification citing sell-side disruption and limited funds to meet upcoming obligations.
Financials recast for a 55-to-1 reverse stock split effective Jan 12, 2026, aimed at regaining Nasdaq bid price compliance.

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