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Sep 30, 2023
Direct Digital Q3 2023 Earnings Report
Reported third quarter 2023 financial results with revenue up 129% year-over-year.
Key Takeaways
Direct Digital Holdings reported strong third quarter 2023 results, with revenue increasing by 129% year-over-year to $59.5 million. The company raised its full-year 2023 revenue guidance to $170 million - $190 million.
Revenue increased by 129% year-over-year reaching $59.5 million.
Investments in technology stack, advertising platform, and operational structure are yielding earlier than expected benefits.
Increased spend from buying partners has led to a rise in impression count and organic growth.
Company raised full-year 2023 revenue guidance to $170 million - $190 million.
Forward Guidance
The company is increasing its previously issued estimate as disclosed in its second quarter 2023 update and now expects fiscal year 2023 revenue guidance to $180 million at the midpoint, a 101% increase over full-year 2022 results, assuming the U.S. economy does not experience any major economic conditions that deteriorate or otherwise significantly reduce advertiser demand.
Positive Outlook
- Reflects belief in ability to execute on various growth strategies
- Demonstrates the strength of operating leverage
- Highlights the favorable market trends that are expected to continue for the remainder of this year
- Strategic investments and partnerships
- Differentiated approach to advertising solutions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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