Direct Digital Holdings, Inc. (NASDAQ:DRCT) Q3 2023 Earnings Conference Call November 9, 2023 5:00 PM ET

Company Participants

Brett Milotte - ICR

Mark Walker - CEO, Co-Founder & Chairman

Diana Diaz - CFO

Conference Call Participants

Dillon Heslin - ROTH MKM

Daniel Kurnos - The Benchmark Company

Michael Kupinski - Noble Financial Capital Markets

Operator

Good afternoon. My name is Abbie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Direct Digital Holdings Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Thank you.

Mr. Brett Milotte, you may begin your conference.

Brett Milotte

Good afternoon, everyone and welcome to Direct Digital Holdings third quarter 2023 earnings conference call. My name is Brett Milotte. I'm representing Direct Digital Holdings from ICR. On today's call, we have Direct Digital Holdings' Chairman and Chief Executive Officer, Mark Walker; and Chief Financial Officer, Diana Diaz.

Information discussed today is qualified in its entirety with the Form 8-K and company earnings release, which has been filed today by Direct Digital Holdings, which may be accessed at the SEC's website and DRCT's website. Today's call is also being webcast, and a replay we posted to the company's Investor Relations website.

Immediately following the speaker's presentation, there will be a question-and-answer session. Please note that the statements made during the call, including financial projections or other statements that are not historical in nature may constitute forward-looking statements. These statements are made on the basis of DRCT's views and assumptions regarding future events and business performance at the time they are made, and we do not undertake any obligation to update these statements.

Forward-looking statements are subject to risks, which could cause DRCT's actual results to differ from its historical results and forecasts, including those risks set forth in DRCT's filings with the SEC. You should refer to those for more information. This cautionary statement applies to all forward-looking statements made during the call.

During this call, DRCT will be referring to non-GAAP financial measures. These non-GAAP measures are not prepared in accordance to generally accepted accounting principles. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures are available in the earnings release that DRCT filed in its Form 8-K today.

I will now hand over the conference call to Mark Walker, Chief Executive Officer. Mark?

Mark Walker

Thanks, Brett, and thank you to everyone joining our third quarter 2023 earnings call. Proud to report incredibly strong financial results and operational performance for this quarter. As we've discussed during recent earnings calls, we made significant investments in Direct Digital Holdings technology stack, advertising platform and operational structure. We initially expected to see the impact of these investments in 2024. However, we are pleased to report these benefits and associated growth are coming to fruition within 2023.