$DRCT
Direct Digital Holdings, Inc.

2022 Q2 Form 10-Q Financial Statement

#000141057822002572 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $21.26M $11.37M $38.14M
YoY Change 90.14% 99.7%
Cost Of Revenue $12.93M $6.590M $19.71M
YoY Change 158.13% 144.39%
Gross Profit $8.336M $4.781M $18.43M
YoY Change 35.0% 59.5%
Gross Profit Margin 39.21% 42.05% 48.32%
Selling, General & Admin $5.272M $4.196M $14.04M
YoY Change 44.25% 38.77%
% of Gross Profit 63.24% 87.77% 76.21%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $488.4K $488.5K $976.9K
YoY Change 0.0% 0.0%
% of Gross Profit 5.86% 10.22% 5.3%
Operating Expenses $5.272M $4.196M $14.04M
YoY Change 44.25% 38.77%
Operating Profit $3.064M $584.9K $4.385M
YoY Change 21.59% -2332.76%
Interest Expense $650.3K $713.8K -$3.184M
YoY Change -21.51% -12.07%
% of Operating Profit 21.22% 122.04% -72.62%
Other Income/Expense, Net -$363.1K -$1.256M -$22.44K
YoY Change -54.99% 60.45%
Pretax Income $2.701M -$671.6K -$1.444M
YoY Change 57.65% -17.01%
Income Tax $86.68K $0.00 $63.53K
% Of Pretax Income 3.21%
Net Earnings $2.614M -$671.6K -$1.507M
YoY Change 57.55% -17.01%
Net Earnings / Revenue 12.3% -5.91% -3.95%
Basic Earnings Per Share $0.18 -$0.09
Diluted Earnings Per Share $0.18 -$0.09 -$106.3K
COMMON SHARES
Basic Shares Outstanding 14.26M 7.106M
Diluted Shares Outstanding 14.26M 7.106M

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.916M $4.407M
YoY Change
Cash & Equivalents $4.916M $4.407M $4.684M
Short-Term Investments
Other Short-Term Assets $794.1K $875.9K
YoY Change
Inventory
Prepaid Expenses
Receivables $14.84M $7.754M $7.871M
Other Receivables $0.00 $0.00
Total Short-Term Assets $20.55M $13.04M $13.78M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $885.5K $917.9K
YoY Change
Goodwill $6.520M $6.520M $6.520M
YoY Change
Intangibles $14.61M $15.10M $15.59M
YoY Change
Long-Term Investments
YoY Change
Other Assets $56.61K $56.60K $11.51K
YoY Change
Total Long-Term Assets $25.30M $22.66M $22.22M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $20.55M $13.04M $13.78M
Total Long-Term Assets $25.30M $22.66M $22.22M
Total Assets $45.86M $35.70M $36.00M
YoY Change -0.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.16M $5.920M $6.710M
YoY Change
Accrued Expenses $6.609M $6.087M $1.045M
YoY Change
Deferred Revenue $443.0K $431.4K $1.348M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $550.0K $687.5K $550.0K
YoY Change
Total Short-Term Liabilities $18.09M $13.34M $9.724M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $19.69M $19.86M
YoY Change
Other Long-Term Liabilities $3.355M $708.3K
YoY Change
Total Long-Term Liabilities $23.04M $20.57M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $18.09M $13.34M $9.724M
Total Long-Term Liabilities $23.04M $20.57M
Total Liabilities $41.13M $33.90M $36.37M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$3.036M -$5.489M -$4.669M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.725M $1.798M -$374.9K
YoY Change
Total Liabilities & Shareholders Equity $45.86M $35.70M $36.00M
YoY Change

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income $2.614M -$671.6K -$1.507M
YoY Change 57.55% -17.01%
Depreciation, Depletion And Amortization $488.4K $488.5K $976.9K
YoY Change 0.0% 0.0%
Cash From Operating Activities $925.8K -$852.3K $1.104M
YoY Change -200.41% -123.88%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $11.33M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -416.8K 574.7K 74.00K
YoY Change -38.23% -837.3%
NET CHANGE
Cash From Operating Activities 925.8K -852.3K 1.104M
Cash From Investing Activities
Cash From Financing Activities -416.8K 574.7K 74.00K
Net Change In Cash 509.0K -277.6K 1.178M
YoY Change -131.88% -107.95%
FREE CASH FLOW
Cash From Operating Activities $925.8K -$852.3K $1.104M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
24799
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
31815
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6996667
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
175906
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-386258
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
91541
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
3406355
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
438105
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
601699
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
140657
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
47710
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-905111
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
146819
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-49422
us-gaap Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
-70801
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
73514
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2647318
us-gaap Repayments Of Debt
RepaymentsOfDebt
275000
us-gaap Repayments Of Debt
RepaymentsOfDebt
77801
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
185093
drct Proceeds From Paycheck Protection Program Loan
ProceedsFromPaycheckProtectionProgramLoan
287143
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11212043
drct Payment To Redemption Of Common Units
PaymentToRedemptionOfCommonUnits
-3237838
drct Redemption Of Non Participating Preferred Shares
RedemptionOfNonParticipatingPreferredShares
-7046251
drct Payments On Seller Notes And Earnouts Payable
PaymentsOnSellerNotesAndEarnoutsPayable
309491
drct Payment Of Distributions To Members
PaymentOfDistributionsToMembers
-309991
drct Payment Of Distributions To Members
PaymentOfDistributionsToMembers
-652569
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
157870
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-752718
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
231384
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1894600
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4684431
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1611998
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4915815
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3506598
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
54000
us-gaap Interest Paid Net
InterestPaidNet
1058548
us-gaap Interest Paid Net
InterestPaidNet
1279603
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
1045000
drct Redemption Of Common Units Included In Accursed Liabilities
RedemptionOfCommonUnitsIncludedInAccursedLiabilities
3962162
drct Outside Basis Difference In Partnership On Non Cash Financial Activities
OutsideBasisDifferenceInPartnershipOnNonCashFinancialActivities
3234000
drct Tra Payable To Direct Digital Management Llc In Non Cash Financial Activities
TraPayableToDirectDigitalManagementLlcInNonCashFinancialActivities
2748900
drct Tax Benefit On Tra In Non Cash Financing Activities
TaxBenefitOnTraInNonCashFinancingActivities
485100
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q2 drct Percentage Of Voting Interest
PercentageOfVotingInterest
100
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates include the allocation of purchase price consideration in the business combination and the related valuation of acquired assets and liabilities, intangible assets, and goodwill impairment testing. The Company bases its estimates on past experiences, market conditions, and other assumptions that the Company believes are reasonable under the circumstances, and the Company evaluates these estimates on an ongoing basis.</p>
CY2022Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
3549295
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
25571
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
40856
drct Accounts Receivable Guaranteed Recovery Of Uncollected Balances From Insurance Percent
AccountsReceivableGuaranteedRecoveryOfUncollectedBalancesFromInsurancePercent
0.90
drct Accounts Receivable Remittance From Insurance On Collection Of Full Amounts Percent
AccountsReceivableRemittanceFromInsuranceOnCollectionOfFullAmountsPercent
0.10
drct Accounts Receivable Provision For Doubtful Accounts Percent
AccountsReceivableProvisionForDoubtfulAccountsPercent
0.10
CY2022Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
27224
CY2021Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
31815
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
24799
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
31815
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentrations of credit risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company has customers on both the buy-and sell-side of its business. The following table sets forth our consolidated concentration of accounts receivable:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;min-height:0.0pt;margin:0pt;"><span style="font-size:0pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:80%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:68.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.31%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.1%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:68.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">June 30, </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.1%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">December 31, </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;"> </b></p></td></tr><tr><td style="vertical-align:bottom;width:68.13%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:middle;white-space:nowrap;width:2.31%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">    </p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.25%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2022</b></p></td><td style="vertical-align:middle;white-space:nowrap;width:3.1%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">    </p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.25%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2021</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;"> </b></p></td></tr><tr><td style="vertical-align:bottom;width:68.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Customer A</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 79.6</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.1%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%  </p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 62.9</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%</p></td></tr><tr><td style="vertical-align:bottom;width:68.13%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Customer H</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.31%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.25%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 5.8</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.1%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%  </p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.25%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 0.0</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%</p></td></tr><tr><td style="vertical-align:bottom;width:68.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Customer B</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 0.1</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.1%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%  </p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 5.2</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.93%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%</p></td></tr></table>
CY2022Q2 us-gaap Goodwill
Goodwill
6519636
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2022Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
442982
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1348093
CY2022Q2 us-gaap Advertising Expense
AdvertisingExpense
220326
CY2021Q2 us-gaap Advertising Expense
AdvertisingExpense
66624
us-gaap Advertising Expense
AdvertisingExpense
322667
us-gaap Advertising Expense
AdvertisingExpense
108544
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4915815
CY2020Q3 us-gaap Goodwill
Goodwill
4095700
CY2020Q3 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
18033850
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
488455
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
488455
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
976909
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
976909
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
14614669
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
15591578
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
18033850
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3419181
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
14614669
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
976909
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1953818
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1953818
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1878602
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1652952
CY2022Q2 drct Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
6198570
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
14614669
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2016351
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
406510
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
501078
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
501078
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4074097
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
123188
CY2022Q2 us-gaap Interest Payable Current
InterestPayableCurrent
17242
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
14201
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6608768
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1044907
CY2022Q2 drct Accrued Expenses Payable For Redemption Of Common Units
AccruedExpensesPayableForRedemptionOfCommonUnits
3962162
CY2022Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
604713
CY2021Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
589138
us-gaap Interest And Debt Expense
InterestAndDebtExpense
1210604
us-gaap Interest And Debt Expense
InterestAndDebtExpense
1169326
CY2022Q2 drct Forgiveness Of Paycheck Protection Program Loan
ForgivenessOfPaycheckProtectionProgramLoan
-287143
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
675000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
550000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1100000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1100473
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1100473
CY2022Q2 drct Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
17749054
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
22275000
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
550000
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2038438
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
19686562
CY2022Q2 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
501078
us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
21500
drct Litigation Settlement Installment Payment Period
LitigationSettlementInstallmentPaymentPeriod
P24M
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
52183
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
63272
us-gaap Operating Lease Expense
OperatingLeaseExpense
103561
us-gaap Operating Lease Expense
OperatingLeaseExpense
113443
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
885458
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
96621
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
789436
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
886057
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.08
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
82388
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
154490
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
110215
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
156077
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
159754
CY2022Q2 drct Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
530324
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1193248
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
307191
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
886057
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
drct Underwriters Term Of Option To Purchase Additional Shares
UnderwritersTermOfOptionToPurchaseAdditionalShares
P45D
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
5.50
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
10167043
CY2022Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
0
drct Class Of Warrant Or Right Granted
ClassOfWarrantOrRightGranted
3220000
drct Class Of Warrant Or Right Weighted Average Exercise Price Granted
ClassOfWarrantOrRightWeightedAverageExercisePriceGranted
5.50
drct Class Of Warrant Or Right Weighted Average Remaining Contractual Term Granted
ClassOfWarrantOrRightWeightedAverageRemainingContractualTermGranted
P4Y7M17D
CY2022Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
3220000
CY2022Q2 drct Class Of Warrant Or Right Weighted Average Exercise Price
ClassOfWarrantOrRightWeightedAverageExercisePrice
5.50
drct Class Of Warrant Or Right Weighted Average Remaining Contractual Term Outstanding
ClassOfWarrantOrRightWeightedAverageRemainingContractualTermOutstanding
P4Y7M17D
drct Class Of Warrant Or Right Exercisable
ClassOfWarrantOrRightExercisable
3220000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
363614
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.62
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
400
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
1.62
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
363214
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
1.62
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2614363
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1659360
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1942740
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
850067
CY2022Q2 drct Weighted Average Shares Units
WeightedAverageSharesUnits
14178000
CY2021Q2 drct Weighted Average Shares Units
WeightedAverageSharesUnits
34182
drct Weighted Average Shares Units
WeightedAverageSharesUnits
16997
drct Weighted Average Shares Units
WeightedAverageSharesUnits
34182
CY2022Q2 drct Incremental Common Shares Attributable To Units Issued
IncrementalCommonSharesAttributableToUnitsIssued
79827
drct Incremental Common Shares Attributable To Units Issued
IncrementalCommonSharesAttributableToUnitsIssued
10693217
drct Weighted Average Number Diluted Shares Outstanding Adjustment Units Redeemed
WeightedAverageNumberDilutedSharesOutstandingAdjustmentUnitsRedeemed
-8499
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14257827
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34182
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10701715
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34182
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
48.54
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
24.87
drct Tax Receivable Agreement Percentage Of Net Cash Saving To Be Paid
TaxReceivableAgreementPercentageOfNetCashSavingToBePaid
0.85
drct Tax Receivable Agreement Percentage Of Net Cash Saving To Be Retained
TaxReceivableAgreementPercentageOfNetCashSavingToBeRetained
0.15
drct Adjustments To Additional Paid In Capital Liability Related To Tax Receivable Agreement
AdjustmentsToAdditionalPaidInCapitalLiabilityRelatedToTaxReceivableAgreement
485100
drct Outside Basis Difference In Partnership On Non Cash Financial Activities
OutsideBasisDifferenceInPartnershipOnNonCashFinancialActivities
3234000
CY2022Q2 drct Liability Related To Tax Receivable Agreement
LiabilityRelatedToTaxReceivableAgreement
2748900
CY2022Q2 drct Current Portion Of Liability Related To Tax Receivable Agreement
CurrentPortionOfLiabilityRelatedToTaxReceivableAgreement
183260
drct Corotate Income Tax Rate On Taxable Income
CorotateIncomeTaxRateOnTaxableIncome
0.197
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
86676
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
47710
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
47710
CY2022Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
38966
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
38966
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
86676
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
86676
CY2022Q2 us-gaap Deferred Tax Assets Investments
DeferredTaxAssetsInvestments
3153150
CY2022Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
41884
CY2022Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
3195034
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21261308
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11181891
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32631645
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16875625
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
3064147
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2520011
us-gaap Operating Income Loss
OperatingIncomeLoss
3649018
us-gaap Operating Income Loss
OperatingIncomeLoss
2493816
CY2022Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
363108
CY2021Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
806651
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
1619602
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
1589749
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2701039
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1713360
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2029416
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
904067
CY2022Q2 us-gaap Assets
Assets
45857792
CY2021Q4 us-gaap Assets
Assets
35999933
us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
52500
CY2022Q3 us-gaap Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
515096

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