Direct Digital Sees Double-Digit Growth for 8th Consecutive Quarter

By Thomas Green

Direct Digital Holdings (Nasdaq: DRCT) reported its eighth consecutive quarter of double-digit revenue growth and updated guidance for 2024.

Fourth quarter revenue was $41 million, an increase of $10.3 million, or 33%, from the fourth quarter of 2022. The digital advertising company processed close to 1 trillion bid requests and received over 83 billion monthly bid responses, an increase of 367% year over year, it said.

For full year 2023 revenue increased $67.8 million to $157.1 million, an increase of 76% compared to 2022. The company announced fiscal year 2024 revenue guidance of $170 million to $190 million.

“2023 was another transformational year for Direct Digital Holdings, achieving remarkable year-over-year revenue growth of 76% as well as dramatic operational expansion, and impressive results for our shareholders,” said Chairman and CEO Mark Walker.

IPO Edge published a detailed financial analysis of the company last year, which is available here.


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