Direct Digital Shares Jump On Q2 Beat, FY22 Guidance Boost

August 11, 2022 10:20 AM | 1 min read | Make a Comment

Direct Digital Holdings, Inc DRCT reported second-quarter FY22 revenue growth of 90% year-on-year to $21.3 million, beating the consensus of $14.4 million.
Sell-side advertising segment, consisting of the Colossus Media business, grew to $11.9 million, up 477% Y/Y.
Buy-side advertising segment, consisting of the Huddled Masses and Orange142 businesses, grew to $9.3 million, up 2% Y/Y.
Operating income increased 22% Y/Y to $3.1 million.
EPS of $0.18 beat the consensus of $0.06.
Direct Digital held $4.9 million in cash and equivalents.
Outlook: Direct Digital raised the FY22 revenue guidance from $48.0 million-$52.0 million to $70 million-$75 million.
Price Action: DRCT shares traded higher by 33.33% at $3.40 on the last check Thursday.