Direct Digital Holdings Reports Fourth Quarter & Full-Year 2022 Financial Results
In the news release, Direct Digital Holdings Reports Fourth Quarter & Full-Year 2022 Financial Results, issued 23-Mar-2023 by Direct Digital Holdings over PR Newswire, we are advised by the company that for the year ended December 31, 2022, Net income per common unit for both Basic and Diluted shares should be $0.23, not $0.17 and Weighted-average common units outstanding for both Basic and Diluted shares should be 12,637,551, not 16,896,360 as originally issued. The corresponding table titled Condensed Consolidated Statements of Operations has been updated to reflect the correct values. The complete, corrected release follows:
Full-Year 2022 Revenue Up 131% Year-Over-Year to $88.0 Million
Fourth Quarter 2022 Revenue Up 128% to $29.4 Million
HOUSTON, March 23, 2023 /PRNewswire/ — Direct Digital Holdings, Inc. (Nasdaq: DRCT) (“Direct Digital Holdings” or the “Company”), a leading advertising and marketing technology platform operating through its companies Colossus Media, LLC (“Colossus SSP”), Huddled Masses LLC (“Huddled Masses”) and Orange142, LLC (“Orange142”), today announced financial results for the fourth quarter and fiscal year ended December 31, 2022.
Mark Walker, Chairman and Chief Executive Officer, commented, “We are pleased to report that 2022, our first year as a public company, saw robust financial performance, significant operational expansion and continued gains in market share for Direct Digital Holdings. Both our quarterly and full-year results capitalized on brands and businesses moving dollars away from less efficient traditional advertising outlets towards digital media. We are expecting strong double-digit percentage revenue growth in FY 2023 across both our sell- and buy-side business segments as we further drive customer adoption of our digital advertising solutions.”
Keith Smith, President, added, “Our fourth quarter and full-year 2022 performance, particularly during a difficult macroeconomic environment, is a testament to our market-leading approach working with middle market and multicultural audiences. Looking