$DRCT Cashflow Statement | Understand Stock

$DRCT

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated statements of cash flows

In millions of USD, except per-share amounts

	FY2025 12 months to Dec 31, 2025	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022
Cash Flows Used In Operating Activities:
Net loss
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of deferred financing cost and debt discount (premium), net
Amortization of intangible assets
Reduction in carrying amount of right-of-use assets
Amortization of capitalized software
Depreciation of property and equipment
Depreciation and amortization of property, equipment and software
Stock-based compensation
Forgiveness of Paycheck Protection Program loan
Deferred income taxes
Payment on tax receivable agreement
Loss on redemption of non-participating preferred units
Bad debt expense
Derecognition of tax receivable agreement liability
Revaluation of tax receivable agreement liability
Loss on debt extinguishment
Loss on Exit Fee
Loss on settlement of accounts payable
Interest paid in kind
Commitment shares and expenses for Equity Reserve Facility
Provision for credit losses/bad debt expense

Changes in operating assets and liabilities:
Accounts receivable
Prepaid expenses and other assets
Accounts payable
Accrued liabilities and TRA payable
Income taxes payable
Deferred revenues
Operating lease liability
Related party payable

Net cash used in operating activities
Cash Flows Used In Investing Activities:
Cash paid for capitalized software and property and equipment
Net cash used in investing activities
Cash Flows Provided by Financing Activities:
Proceeds from note payable
Payments on term loan
Payments for litigation settlement
Proceeds from line of credit
Payments on line of credit
Payment of expenses for Equity Reserve Facility
Payment of deferred financing cost
Proceeds from issuance of Class A Common Stock
Acquisition and redemption of warrants, including expenses
Redemption of common units
Redemption of non-participating preferred units
Payments on financed insurance premiums
Payment of tax related to shares withheld upon vesting
Proceeds from options exercised
Proceeds from warrants exercised
Distributions to members
Distributions to holders of LLC Units
Net cash provided by financing activities

Net decrease in cash and cash equivalents
Cash and cash equivalents, beginning of the period
Cash and cash equivalents, end of the period
Supplemental Disclosure of Cash Flow Information:
Cash paid for taxes
Cash paid for interest
Non-cash Activities:
Property and equipment purchased included in accounts payable
Transaction costs related to issuances of Class A shares included in accounts payable and accrued liabilities
Distributions to members payable
Conversion of term loan into preferred stock net of premium
Accrued term loan amendment closing fees
Settlement of accounts payable through issuance of common stock
Financed insurance premiums
Outside basis difference in partnership
Tax receivable agreement payable to Direct Digital Management, LLC
Tax benefit on tax receivable agreement
Prepaid distributions to holders of LLC Units included in related party receivable
Non-cash funding of debt issuance costs
Accrued dividend
Funding of interest reserve through debt
Accrued term loan exit fee
Common stock issued for subscription receivable
Issuance of stock in lieu of cash bonus, net of tax withholdings

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