{"schema_version":"secwatch.filing_event.v1","accession":"0001880613-26-000057","form_type":"8-K","ticker":"DRCT","cik":"0001880613","company_name":"Direct Digital Holdings, Inc.","filed_at":"2026-05-11T12:35:31+00:00","discovered_at":"2026-05-11T14:49:57.127956+00:00","generated_at":"2026-05-11T18:35:54.838433+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 Q1 revenue $6.7M (-18% YoY); net loss $5.6M","bullets":["Revenue of $6.7M, down 18% YoY from $8.2M, driven by $2.0M drop in DSP spend.","Gross profit $2.3M (34% margin) vs $2.4M (29%) in Q1 2025.","Operating loss improved to $3.3M from $3.9M; net loss narrowed to $5.6M from $5.9M.","Adjusted EBITDA loss improved to $2.6M from $3.0M in prior year.","Cash $0.8M as of March 31, 2026; conference call set for May 11 at 11:00 AM ET."],"urls":{"canonical":"https://secwatch.observer/filing/0001880613-26-000057","json":"https://secwatch.observer/filing/0001880613-26-000057.json","markdown":"https://secwatch.observer/filing/0001880613-26-000057.md","text":"https://secwatch.observer/filing/0001880613-26-000057.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1880613/000188061326000057/0001880613-26-000057-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1880613/000188061326000057/drct-20260511.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-11T18:35:54.838433+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":[{"claim_id":"98da0b05af800049220c3183d14fe19b19ff8fac","claim":"Direct Digital Holdings, Inc. reported three months ended March 31, 2026 results: revenue $6.7 million, net income Net loss was $5.6 million.","evidence_excerpt":"• Revenue of $6.7 million decreased 18% compared to $8.2 million in the first quarter of 2025. The decrease in revenue was driven primarily by a $2.0 million decrease in spending by demand side platform (“DSP”) customers during the first quarter of 2026. • Gross profit was $2.3 million, or 34% of revenue, compared to $2.4 million, or 29% of revenue, in the first quarter of 2025. • Operating expenses of $5.5 million decreased 13% compared to $6.3 million in the first quarter of 2025. • Operating loss was $3.3 million, compared to $3.9 million in the first quarter of 2025. • Net loss was $5.6 million compared to net loss of $5.9 million in the first quarter of 2025.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1880613/000188061326000057/0001880613-26-000057-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"three months ended March 31, 2026"},{"label":"Revenue","value":"$6.7 million"},{"label":"Net income","value":"Net loss was $5.6 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}