Direct Digital Holdings, Inc.
DRCTNasdaqIndustrials · Services-Advertising · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | |
|---|---|---|---|---|---|
| Revenue | $34.7M | $62.3M | $157.1M | $89.4M | $38.1M |
| Operating income | −$14.8M | −$13.2M | −$2.2M | $8.0M | $4.4M |
| Net income | −$18.9M | −$6.2M | −$2.2M | $205,000 | −$1.5M |
| Total assets | $20.2M | $26.0M | $68.9M | $58.1M | $36.0M |
| Total liabilities | $27.2M | $45.7M | $74.4M | $52.5M | $36.4M |
| Equity | −$7.0M | −$19.7M | −$5.4M | $2.3M | −$374,856 |
| EPS (diluted) | $-75.79 | $-91.26 | $-0.73 | $0.11 | $-44.09 |
| Shares out. | 308,000 | 68,000 | 3.0M | 2.9M | 34,182 |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- −42.5%
- Net margin
- −54.6%
- Return on equity
- 269.8%
- Return on assets
- −94.0%
- Return on capital (ROCE)
- —
- Liabilities / assets
- 134.8%
- Debt / equity
- —
- Book value / share
- $-22.80
- Revenue growth (YoY)
- −44.3%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -16.73distress
- Accruals / assets
- −49.8%clean
- Beneish M-Score
- -5.08normal
- Piotroski F-Score
- 2/9weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 3 severe● 5 warning● 2 good- Negative shareholder equity
- Altman Z″ in the distress zone
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Operating losses (negative operating margin)
- Reported a net loss
- Revenue declined year-over-year
- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
- Strong return on equity (>15%)
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Qmissed a reporting deadline ↗Aug 15, 2024
- NT 10-Qmissed a reporting deadline ↗May 16, 2024
- NT 10-Kmissed a reporting deadline ↗Apr 2, 2024
- NT 10-Kmissed a reporting deadline ↗Mar 31, 2023
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Continuation Capital, Inc.Passive (13G)May 12, 2026
- Walker Mark DActivist (13D)Dec 19, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Walker Mark DOfficer — Chairman and CEO | Dec 4, 2025 | Conversion | 300,000 | — |
| Direct Digital Management, Llc10% owner | Dec 4, 2025 | Conversion | 300,000 | — |
| Walker Mark DOfficer — Chairman and CEO | Nov 13, 2025 | Sell | 27,492 | $0.37 |
| Smith W KeithOfficer — President | Nov 13, 2025 | Sell | 71,242 | $0.37 |
| Direct Digital Management, Llc10% owner | Sep 11, 2025 | Conversion | 872,500 | — |
| Smith W KeithOfficer — President | Sep 11, 2025 | Conversion | 600,000 | — |
| Walker Mark DOfficer — Chairman and CEO | Sep 11, 2025 | Conversion | 272,500 | — |
| Walker Mark DOfficer — Chairman and CEO | Aug 15, 2025 | Sell | 22,369 | $0.41 |
| Smith W KeithOfficer — President | Jul 24, 2025 | Sell | 15,800 | $0.53 |
| Smith W KeithOfficer — President | Jul 21, 2025 | Sell | 16,987 | $0.52 |
| Walker Mark DOfficer — Chairman and CEO | Jul 21, 2025 | Sell | 16,735 | $0.52 |
| Walker Mark DOfficer — Chairman and CEO | Jul 16, 2025 | Sell | 11,603 | $0.53 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 18,481 | 1.0 | -91.4% |
| Apr 30, 2026 | 215,086 | 1.0 | +648.5% |
| Apr 15, 2026 | 28,736 | 1.0 | -63.5% |
| Mar 31, 2026 | 78,708 | 1.0 | +199.7% |
| Mar 13, 2026 | 26,262 | 1.0 | -57.8% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Entered a material agreement · Other material eventMay 21, 2026
- Results of operationsMay 11, 2026
- Entered a material agreement · Terminated a material agreement · Delisting / listing-standard notice · Modified shareholder rights · Amended charter or bylawsApr 28, 2026
- Regulation FD disclosureApr 23, 2026
- Delisting / listing-standard noticeApr 7, 2026
- Results of operationsApr 1, 2026
- Other material eventFeb 12, 2026
- Other material eventFeb 9, 2026
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗Event-driven situations (3)
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