Direct Digital Holdings, Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Direct Digital Holdings, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2022
FY2022
FY2023
FY2024
FY2025
Revenue
38.1
89.4
157
62.3
34.7
Cost of revenue
19.7
60
120
44.9
24.3
Gross profit
18.4
29.3
37.6
17.4
10.4
General and administrative
5.53
7.22
13.2
14.2
10.7
Operating expenses
14
21.3
39.8
30.6
25.2
Operating income
4.38
7.98
-2.19
-13.2
-14.8
Interest expense
3.18
3.23
4.38
5.41
5.2
Other non-operating income
-5.83
-3.49
-4.09
-0.54
-13
Pre-tax income
-1.44
4.49
-6.28
-13.8
-27.7
Income tax
0
0.25
0.57
6.13
0
Net income to minority interests
3.96
-4.65
-13.7
-8.78
Net income
-1.51
0.21
-2.19
-6.24
-18.9
EBITDA
4.38
8.01
-1.93
-13
-14.5
EPS, basic
-807.96
6.05
-40.13
-91.26
-75.79
EPS, diluted
-807.96
6.05
-40.13
-91.26
-75.79
Shares, basic (weighted)
0
0.05
0.05
0.07
0.31
Shares, diluted (weighted)
0
0.05
0.05
0.07
0.31
Balance sheet
FY2022
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
4.68
4.05
5.12
1.45
0.73
Receivables
7.87
26.4
37.2
4.97
3.13
Other current assets
1.23
0.88
0.23
0.19
0.1
Total current assets
13.8
31.3
43.1
8.54
4.74
Property, plant and equipment
0.67
0.6
0.34
0.17
Lease right-of-use assets
0.8
0.79
0.83
0.7
Goodwill
6.52
6.52
6.52
6.52
6.52
Intangible assets
15.6
13.6
11.7
9.73
7.85
Other non-current assets
0.01
0.05
0.13
0.05
0.17
Total assets
36
58.1
68.9
26
20.2
Accounts payable
6.71
17.7
33.9
7.66
7.82
Accrued liabilities
1.04
3.78
3.82
1.26
Deferred revenue
1.35
0.5
0.38
0.51
0.51
Short-term debt
0.55
0.66
1.48
3.7
12
Total current liabilities
9.72
24.6
39.8
13.4
26.4
Long-term debt
19.4
23.1
28.6
31.6
0.15
Lease liabilities
0.75
0.77
0.78
0.61
Total liabilities
36.4
52.5
74.4
45.7
27.2
Total debt
0.55
23.7
30.1
35.3
12.1
Paid-in capital
2.61
3.07
3.79
25.8
Retained earnings
-4.67
-0.34
-2.54
-8.77
-27.7
Shareholders' equity
-0.37
2.28
Minority interests
3.31
-5.96
-14.7
-5.12
Total equity
-0.38
5.6
-5.42
-19.7
-7.02
Total liabilities and equity
36
58.1
68.9
26
20.2
Cash flow statement
FY2022
FY2022
FY2023
FY2024
FY2025
Net income
-1.51
4.17
-6.84
-19.9
-27.7
Depreciation and amortization
0
0.03
0.25
0.28
0.26
Stock-based compensation
0.15
0.71
1.55
1.47
Deferred income tax
0.11
0.57
6.13
0
Change in receivables
-3.28
-18.5
-11.3
31.6
1.84
Cash from operations
3.75
2.06
2.56
-8.65
-8.91
Cash from investing
-0.69
-0.18
-0.02
-0.09
Debt repaid
-15.7
-0.58
-0.68
-0.37
0
Stock issued
11.2
0
1.65
8.69
Cash from financing
-0.68
-2.01
-1.31
4.99
8.28
Net change in cash
3.07
-0.64
1.07
-3.67
-0.72
Interest paid
3.11
2.57
3.74
4.3
0.84
Income taxes paid
0.01
0.05
0.36
0.39
0
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.57 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
30.4%
Gross profit / revenue.
Operating margin
-47.2%
Operating income / revenue.
EBITDA margin
-46.6%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-86.5%
Pre-tax income / revenue.
Net margin
-74.4%
Net income / revenue.
Operating cash flow margin
-17.6%
Cash from operations / revenue.
Return on assets (ROA)
-121.5%
Net income / average total assets.
Stock-based pay / revenue
3.3%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
0.6%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-44.3%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-27.0%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
-40.1%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-29.2%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-22.5%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-29.7%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
352.9%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
80.3%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.14x
Current assets / current liabilities.
Quick ratio
0.10x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.02x
(Cash + short-term investments) / current liabilities.
Debt / assets
0.8%
Total debt / total assets.
Liabilities / assets
173.1%
Total liabilities / total assets.
Net debt
-$376.0K
Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage
-5.04x
Operating income / interest expense.
Working capital
-$27.5M
Current assets - current liabilities.
Goodwill and intangibles / assets
71.6%
(Goodwill + intangible assets) / total assets.
Efficiency
Metric
Value
How it is calculated
Asset turnover
1.63x
Revenue / average total assets.
Fixed asset turnover
312x
Revenue / average property, plant and equipment.
Receivables turnover
11.5x
Revenue / average receivables.
Days sales outstanding
32 days
365 x average receivables / revenue.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$32.42
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Market cap + total debt - cash - short-term investments.
P/S
0.04x
Market cap / revenue.
EV/Sales
0.03x
Enterprise value / revenue.
Earnings yield
-1,824.0%
Net income / market cap (the inverse of P/E).
What was Direct Digital Holdings, Inc.'s revenue in fiscal 2025?
Direct Digital Holdings, Inc. reported revenue of $34.7M for fiscal 2025, 44.3% lower than the year before.
Was Direct Digital Holdings, Inc. profitable in fiscal 2025?
No. It reported a net loss of $18.9M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.