Direct Digital Holdings, Inc. - DRCT STOCK NEWS

Direct Digital Holdings (Nasdaq: DRCT) announced its participation in the NobleCon20 conference, Noble Capital Markets' Twentieth Annual Emerging Growth Equity Conference. The event will take place at Florida Atlantic University's Executive Education Complex in Boca Raton, FL, on December 3-4, 2024.

Keith Smith, Co-Founder and President, and Diana Diaz, Chief Financial Officer, will represent the advertising and marketing technology platform, which operates through Colossus SSP and Orange 142. Management will be available for one-on-one meetings throughout the conference, which can be arranged through Noble representatives.

Orange 142, a division of Direct Digital Holdings (NASDAQ: DRCT), has launched the Emerging Channels Council to help small and mid-sized businesses (SMBs) navigate emerging advertising channels like Retail Media, Social Media, and Connected TV (CTV). The council will provide strategic guidance, best practices, and research to support SMBs' investment in these growing channels.

The initiative includes sharing case studies, analyzing trends, and offering strategic consultations. Recent data shows significant growth in these channels, with U.S. retail media spending up 18.5% to $43.7 billion in 2023, global social media ad spending reaching $587.8 billion (20.2% increase), and U.S. CTV ad spending growing 13.8%.

Direct Digital Holdings (DRCT) has been ranked #101 on the 2024 Deloitte Technology Fast 500™, marking its second consecutive appearance on the list. The company achieved an impressive 1184% revenue growth, improving from its previous ranking of 108 in 2023. DDH secured the 3rd position in Texas and ranked 23rd in Digital platforms. The growth was attributed to strategic investments in its in-house supply-side platform, Colossus SSP, and the unification of its advertising consultancy groups, Huddled Masses and Orange 142.

Colossus SSP has launched 'Momentum', a new initiative to support underrepresented publishers in programmatic advertising. The program, backed by parent company Direct Digital Holdings (NASDAQ: DRCT), offers expertly curated courses on ad tech, data management, and monetization strategies.

Participants gain access to Colossus-led private marketplaces (PMPs) and connections with leading industry professionals. The initiative aims to address the resource gap faced by diverse publishers in digital advertising, providing education, tools, and opportunities for growth.

Direct Digital Holdings (DRCT) reported Q3 2024 financial results, with revenue declining 85% to $9.1 million compared to $59.5 million in Q3 2023. The company faced significant challenges due to a defamatory disinformation campaign that led to business disruptions and a major customer temporarily pausing its connection with Colossus SSP. The sell-side segment revenue fell 96% to $2.2 million, while buy-side revenue decreased 12% to $6.9 million. The company secured a $20 million Equity Reserve Facility and launched Colossus Connections to accelerate direct integrations with demand-side platforms. DRCT provided FY2024 revenue guidance of $60-70 million and FY2025 guidance of $90-110 million.

Colossus SSP, a subsidiary of Direct Digital Holdings (NASDAQ: DRCT), has launched Colossus Connections, a new initiative aimed at optimizing supply path efficiency for advertisers through direct integrations with top demand-side platforms (DSPs). The program reduces intermediaries and enhances transparency in the programmatic ecosystem. Two of the top 10 DSP partners are already onboarded and expected to go live in 2025. The initiative is supported by a recent $20 million Equity Reserve Facility with New Circle Principal Investments , enabling further development and growth of the platform.

Direct Digital Holdings (Nasdaq: DRCT), an advertising and marketing technology platform, announced it will release its third quarter 2024 financial results on Tuesday, November 12, 2024, after market close. The company, which operates through Colossus SSP and Orange 142, will hold a conference call and webcast at 5:00 PM ET on the same day to discuss the results. Investors can access the live webcast and replay through the company's investor relations website.

Direct Digital Holdings (Nasdaq: DRCT) announced the merger of its buy-side businesses, Orange 142 and Huddled Masses, under the Orange 142 brand. The unified company aims to better serve small and mid-sized businesses (SMBs) in digital advertising. The merger combines resources to provide more comprehensive digital marketing services, including influencer marketing, organic social media strategies, and technical services. The consolidated Orange 142 now manages over 2,000 campaigns annually for hundreds of small and mid-sized clients across all major demand-side platforms (DSP), focusing on maximizing ROI and reducing client acquisition costs.

Direct Digital Holdings (Nasdaq: DRCT) has entered into a $20 million Equity Reserve Facility with New Circle Principal Investments This 36-month agreement allows the company to sell shares of Class A common stock to New Circle, subject to certain conditions. The funding will be used to:

1. Reduce debt obligations and strengthen the balance sheet
2. Drive technological advancements for Colossus SSP, including new segment-based products and direct integrations with DSPs
3. Expand efforts to bring underrepresented publishers into the programmatic ecosystem
4. Unify Orange142 and Huddled Masses to deliver new capabilities in AI, ML, CTV, social media, and retail media

The company views this facility as a means to enhance financial liquidity, strengthen shareholder equity, and support growth initiatives across both supply-side and demand-side platforms.