Business
Direct Digital Holdings Reports Fourth Quarter & Full Year 2021 Financial Results
Full Year 2021 Revenue Up 206% Year-Over-Year to $38.1 Million, with Fourth Quarter 2021 Revenue Up 95% HOUSTON, March 29, 2022 /PRNewswire/ -- Direct Digital
About this update from Direct Digital Holdings, Inc.
[{"type":"text","content":"Full Year 2021 Revenue Up 206% Year-Over-Year to $38.1 Million, with Fourth Quarter 2021 Revenue Up 95%\nHOUSTON, March 29, 2022 /PRNewswire/ -- Direct Digital Holdings, Inc. (Nasdaq: DRCT) (\"Direct Digital\"), a leading advertising and marketing technology holding group, announced financial results for the fourth quarter and fiscal year ended December 31, 2021.\n\n \n \n \n \n \n \n\n \nChairman and Chief Executive Officer Mark Walker said, \"2021 was an incredible year for us, as we continued to execute on our vision of building a world-class buy- and sell-side advertising platform for middle-market clients. In 2021 we doubled our revenue through organic growth and the integration of Orange142 acquired in late 2020 and expect to see continued benefits from the rapid digitization of small- and mid-sized companies moving into programmatic and digital advertising, the increasing localization of programmatic advertising, and with growth of multicultural audiences and targeted ad spend. We are excited for our new journey as a publicly listed company, and to continue to achieve our ambitious goals in 2022 and beyond.\"\nKeith Smith, President, added, \"The strategic refinancing of our debt, coupled with our IPO, has positioned us to effectively execute our operational objectives in the coming year.\"\nFourth Quarter 2021 Financial Highlights:Revenue increased to $12.9 million in the fourth quarter of 2021, an increase of $6.3 million, or 95% over the $6.6 million in the same period of 2020.Our sell-side advertising segment grew to $6.7 million and contributed $5.4 million of the increase, or 410% over the $1.3 million in the same period of 2020.Our buy-side advertising segment grew to $6.2 million and contributed $0.9 million of the increase, or 17% over the $5.3 million in the same period of 2020.Operating income increased to $1.3 million for the fourth quarter of 2021 compared to approximately $40,000 in the same period of 2020.Existing term loan was refinanced, and we entered into new credit facility with Lafayette Square for up to $32.0 million consisting of a $22.0 million closing date term loan and an up to $10.0 million delayed draw term loan for future acquisitions.Net loss was $(2.1) million in the fourth quarter of 2021, compared to $(0.5) million in the same period of 2020.Adjusted EBITDA(1) was $1.8 million in the fourt...