Direct Digital Holdings, Inc. (DRCT) Earnings Call Transcript & Summary

Well, good afternoon, and welcome to today's closing bell ceremony. My name is Selena Singleton, and I'm the Head of Strategic Development for Nasdaq's Corporate Platforms. Joining us today are Direct Digital Holdings, along with their Co-founder and CEO, Mark D. Walker; and Co-Founder and President, Keith Smith, for their first listing anniversary on Nasdaq. I would also like to extend the warmest welcome to the Direct Digital management team and employees. We are so excited that you all could join us this afternoon right here at The Crossroads of the World in Times Square in New York City. Bringing state-of-the-art supply side and demand side advertising platforms together under one umbrella, Direct Digital Holdings delivers digital advertising technology solutions across its 3 subsidiaries: Colossus SSP, Orange142 and Huddled Masses. Founded in 2018, Direct Digital delivered significant ROI for middle market advertisers by providing data-optimized programmatic solutions at scale. And this is for businesses and sectors that range from energy to health care to financial services. The company, through its tech platform, delivers unique insights and access to multicultural and general market audiences, who value brands that are supporting their community. Pioneering a dynamic and inclusive approach to digital marketing, DDH's mission is to offer digital advertising to everyone. They formulate solutions for brands of all sizes, from small to medium and middle market companies to the Fortune 500 using advanced technology solutions, tailored digital strategy and diverse publisher relationships to reach growing multicultural audiences. Driven by a desire to diversify the marketing landscape, DDH became the 9th black-owned public company in the United States. We can clap for that. Direct Digital Holdings is extremely proud of their story, and we hope that others see this company as a shining example and pioneer in the field. Mark and Keith, congratulations to both you and your team on all that you have achieved together. Nasdaq is exceptionally proud to be your partner, and we look forward to supporting your continued success and growth as a Nasdaq-listed company. Now please join me in welcoming Co-founders Mark Walker and Keith Smith to the podium for further remarks.

Today is an exciting day to be here today. And thank you guys very much for being here. I want to go ahead and share that we appreciate Nasdaq for welcoming us and supporting us as we have gone through this public journey. When Keith and I started Direct Digital Holdings back in 2018, we had no idea of how large this could be, but we are incredibly proud. We wanted to bridge the gap of the digital divide between small businesses and multicultural publishers. And I think what you see here today with us being public, it's a testament of all the hard work that this team has done. So now let me turn it over to Keith for a few comments.

Thank you, Mark. Today is a great day for Direct Digital. When Mark and I founded the company, we knew the key to success was about the people. We knew we had to create an environment that was inclusive to attract the talent, the people, the diversity of thought to grow. We have done that. Over the course of 2022, our financial performance, our company has grown tremendously and continues to grow. Our goal going forward is to partner with companies that understand our vision, that understand it's better to be more inclusive than not. Going forward, our goal is to pull in to the ecosystem and continue to drive what we've built here at Direct Digital. We're enormously proud of this day, and we couldn't be more thankful of the people that have been here to support us on this mission and this journey. Thank you, Mark.

Yes. In closing, 3 companies: Huddled Masses, Orange142 and Colossus, took a company from $6 million in top line revenue to $85 million to $90 million in four short years. That's a testament to all the hard work that this team has done. And even more so, I'm excited about what we're going to do this year with the new technology, the new products and the innovation we're going to be bringing to the marketplace. Last but not least, I want you to continue serving each other, serving our partners and most importantly, let's keep showing the world what a diverse company looks like and the outsized results it can deliver. Congrats, everyone. Thank you.