Direct Digital Reports Revenue Drop, Faces Legal Challenges

Direct Digital Holdings Inc. reported a significant drop in 2024 revenues to $62.3 million from $157.1 million in 2023, largely due to a decline in sell-side advertising revenue. The company's net loss increased to $19.9 million, with efforts underway to address liquidity issues and improve internal financial controls. Despite these challenges, Direct Digital Holdings aims to boost revenue in 2025 to between $90 million and $110 million, though recent stock performance has been poor. The company is facing legal challenges over a defamatory article and a securities class action lawsuit. Direct Digital Holdings continues to focus on expanding its customer base and optimizing its buy-side advertising segment. Separately, Digitalist Group Plc has published its 2024 financial statements online in compliance with ESEF reporting standards.