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Direct Digital Holdings Reports Filings for Full-Year 2023, Q1 2024 and Q2 2024

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HOUSTON, Oct. 15, 2024 /PRNewswire/ — Direct Digital Holdings, Inc. (Nasdaq: DRCT) (“Direct Digital Holdings” or the “Company”), a leading advertising and marketing technology platform operating through its companies Colossus Media, LLC (“Colossus SSP”), Orange142, LLC (“Orange 142”) and Huddled Masses LLC (“Huddled Masses”), today announced the Company has filed its Form 10-K for the full-year ended December 31, 2023 (the “2023 Annual Report”), as well as its Form 10-Q for the first quarter ended March 31, 2024 (the “March 2024 Quarterly Report”) and its Form 10-Q for the second quarter ended June 30, 2024 (the “June 2024 Quarterly Report”).

Upon the filing of the 2023 Annual Report, the March 2024 Quarterly Report and the June 2024 Quarterly Report with the SEC, Direct Digital Holdings believes it has evidenced compliance with Nasdaq Listing Rule 5250(c)(1). However, the Company is awaiting a formal compliance determination from the Nasdaq Stock Market staff. The Company will provide an update upon receipt of such determination.

Mark D. Walker, CEO and Co-Founder of Direct Digital Holdings, commented, “We are pleased to complete these filings, which we believe will allow us to regain compliance with Nasdaq and put us on the path back to our regular reporting cadence. At Direct Digital Holdings, we remain excited to return to the normal execution of our industry-leading business model and company mission.”

Keith Smith, President and Co-Founder of Direct Digital Holdings, commented, “Since we last reported earnings, Direct Digital Holdings has encountered challenges due to two factors: first, the unexpected resignation of our previous auditor; and second, a series of coordinated and malicious misinformation attacks against the company, including the publication of false and defamatory articles and blog posts by a third party, which, we believe, have been comprehensively refuted. The proximity of these two events was then used to create a disparaging narrative which disrupted our business and existing capital-raising efforts, as well as creating additional audit, legal and other expenses. We have been fully engaged in addressing the issues, and I am proud of our team’s resilience during this time.”

The Company has taken several actions to address these challenges including (i) the execution on July 1, 2024 of a plan to reduce expenses through a staff reduction, a pause on hiring and cost savings measures, (ii) working with lenders to provide temporary relief from debt covenants while rebuilding sell-side volumes via debt amendments executed on October 15, 2024, (iii) engaging BDO, USA, P.C. as the Company’s independent registered public accounting firm for the audit of the Company’s consolidated financial statements for the fiscal year ended December 31, 2023 and (iv) filing its 2023 Annual Report, March 2024 Quarterly Report and June 2024 Quarterly Report.

Going forward, Direct Digital Holdings expects to (i) receive notification from Nasdaq that by filing the Annual and Quarterly Reports, the Company has regained compliance with respect to the delinquent SEC filings, which will allow the Company to access the capital markets as well as other financing sources, (ii) raise capital through arrangements with various providers, and (iii) continue to work with the Company’s partners to rebuild sell-side volumes.

Financial Outlook Update

Due to the aforementioned challenges, Direct Digital Holdings is unable to provide guidance for the full-year 2024 at this time.

Diana Diaz, Chief Financial Officer, stated, “As we move forward, we are committed to reestablishing a normal cadence of reporting our financial results which will provide our investors with the timely and accurate information they deserve. We remain dedicated to creating long-term value for our shareholders and will continue to provide best-in-class advertising solutions to our partners.”

Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements within the meaning of federal securities laws that are subject to certain risks, trends and uncertainties. We use words such as “could,” “would,” “may,” “might,” “will,” “expect,” “likely,” “believe,” “continue,” “anticipate,” “estimate,” “intend,” “plan,” “project” and other similar expressions to identify forward-looking statements, but not all forward-looking statements include these words. All of our forward-looking statements involve estimates and uncertainties that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the information described under the caption “Risk Factors” and elsewhere in our most recent Annual Report on Form 10 K (the “Form 10-K”) and subsequent periodic and or current reports filed with the Securities and Exchange Commission (the “SEC”).

The forward-looking statements contained in this press release are based on assumptions that we have made in light of our industry experience and our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. As you read and consider this press release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (many of which are beyond our control) and assumptions.

Although we believe that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect our actual operating and financial performance and cause our performance to differ materially from the performance expressed in or implied by the forward-looking statements. We believe these factors include, but are not limited to, the following: the restrictions and covenants imposed upon us by our credit facilities; the substantial doubt about our ability to continue as a going concern, which may hinder our ability to obtain future financing; our ability to secure additional financing to meet our capital needs, including the establishment of any equity line of credit facility; our ineligibility to file short-form registration statements on Form S-3, which may impair our ability to raise capital; our failure to satisfy applicable listing standards of the Nasdaq Capital Market resulting in a potential delisting of our common stock; any significant fluctuations caused by our high customer concentration; risks related to non-payment by our clients; reputational and other harms caused by our failure to detect advertising fraud; operational and performance issues with our platform, whether real or perceived, including a failure to respond to technological changes or to upgrade our technology systems; restrictions on the use of third-party “cookies,” mobile device IDs or other tracking technologies, which could diminish our platform’s effectiveness; unfavorable publicity and negative public perception about our industry, particularly concerns regarding data privacy and security relating to our industry’s technology and practices, and any perceived failure to comply with laws and industry self-regulation; our failure to manage our growth effectively; the difficulty in identifying and integrating any future acquisitions or strategic investments; any changes or developments in legislative, judicial, regulatory or cultural environments related to information collection, use and processing; challenges related to our buy-side clients that are destination marketing organizations and that operate as public/private partnerships; any strain on our resources or diversion of our management’s attention as a result of being a public company; the intense competition of the digital advertising industry and our ability to effectively compete against current and future competitors; any significant inadvertent disclosure or breach of confidential and/or personal information we hold, or of the security of our or our customers’, suppliers’ or other partners’ computer systems; any failure by us to maintain or implement effective internal controls or to detect fraud; and other factors and assumptions discussed in our Form 10-K and subsequent periodic and current reports we may file with the SEC.

Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove to be incorrect, our actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and except as required by law, we undertake no obligation to update any forward-looking statement contained in this press release to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. New factors that could cause our business not to develop as we expect emerge from time to time, and it is not possible for us to predict all of them. Further, we cannot assess the impact of each currently known or new factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. 

About Direct Digital Holdings

Direct Digital Holdings (Nasdaq: DRCT), owner of operating companies Colossus SSP, Huddled Masses, and Orange 142, brings state-of-the-art sell- and buy-side advertising platforms together under one umbrella company. Direct Digital Holdings’ sell-side platform, Colossus SSP, offers advertisers of all sizes extensive reach within general market and multicultural media properties. The Company’s subsidiaries Huddled Masses and Orange142 deliver significant ROI for middle market advertisers by providing data-optimized programmatic solutions at scale for businesses in sectors that range from energy to healthcare to travel to financial services. Direct Digital Holdings’ sell- and buy-side solutions generate billions of impressions per month across display, CTV, in-app and other media channels. 

Contacts:
Investors:
Brett Milotte, ICR
Brett.Milotte@icrinc.com

 

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SOURCE Direct Digital Holdings

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Tesla Owns Nearly 1 in 5 AI Answers About EVs. New 5W Index Ranks the Top 25 EV Brands by AI Citation Share.

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27 minutes ago

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July 25, 2026

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EV charging networks — Electrify America, EVgo, ChargePoint — are nearly invisible inside AI answers despite operating the infrastructure the entire category depends on.

MIAMI, July 25, 2026 /PRNewswire/ — 5W AI Communications, the AI Communications Firm, today released the 5W AI Visibility Index — EV, ranking the top 25 EV brands by modeled AI citation share across ChatGPT, Claude, Perplexity, Gemini, and Google AI Overviews. Tesla anchors the category at 18.4% — more than the next three brands combined. Rivian is second at 8.2%. Ford is third at 6.4%.

The Index is Volume 07 in 5W’s 2026 Consumer AI Visibility Index series. The full report is available at https://www.5wpr.com/research/ev-ai-visibility-index/.

More than a third of U.S. consumers now begin product research with an AI engine — not Google. For the EV category — where purchase consideration windows stretch six to twelve months and buyers cross-reference range, charging, ownership cost, and long-term reliability across dozens of sources — the answers the engines return are shaping the shortlist before a buyer walks into a dealership.

The Findings

Tesla dominates at 18.4% citation share — cited on virtually every consumer EV query across all five engines. Brand, product, and CEO overlap produce a citation profile no peer can match.Rivian (8.2%) is the dominant adventure-EV authority. The R1T and R1S anchor truck and SUV electric citation.Ford (6.4%) leads legacy automakers. The F-150 Lightning owns EV-truck queries; the Mach-E anchors EV-SUV comparisons.Lucid (4.8%) and Hyundai Ioniq (4.4%) complete the Tier 1 leaders. The Ioniq 5 and Ioniq 6 over-index against U.S. brand recognition.GM sits at #6 with 3.8% — despite scale — because Bolt, Lyriq, and Hummer EV are cited separately rather than as one GM-EV narrative. Ford consolidated its story. GM did not.Toyota (#17) and Honda (#18) are the two largest legacy automakers furthest behind in EV citation. The bZ4X, Solterra, and Prologue cite at rates far below what brand recognition would predict.EV charging networks are absent from the top 25. Electrify America, EVgo, and ChargePoint operate the infrastructure the entire category depends on — and have not built consumer-facing brand citation to match. The category is open.

“Every EV buyer starts inside a chatbox now. Tesla owns nearly one in five answers. The next three brands combined don’t match it. That’s a citation moat measured in AI — not TV budgets, not showroom count,” said Ronn Torossian, Founder and Chairman, 5W AI Communications. “GM is bigger than Rivian by every commercial metric and half its size in the answer. That gap costs sales. The charging networks are the biggest miss in the category — whoever builds the dominant ‘where should I charge’ answer anchors a multi-decade growth curve. Right now, none of them own it.”

The Five Engines Do Not Return Identical Answers

ChatGPT: Tesla, Rivian, Lucid, Ford, Hyundai dominate. Conservative and brand-anchored.Claude: Recurrent and CleanTechnica over-index. Data-source preference. Lighter on enthusiast brands.Perplexity: Reddit EV subreddits dominant. Out of Spec YouTube data heavily cited. Freshness-favored.Google AI Overviews: Tesla, InsideEVs, Edmunds, Kelley Blue Book dominate. Closest to a SERP-mirror.Gemini: YouTube EV creators dominate — Out of Spec, Munro Live, MKBHD at the highest rates.

Engine-aware strategy matters. A brand absent from one engine but present in another needs a different program than a brand absent across the board.

Methodology
Modeled directional estimates derived from publicly available data, observed retrieval patterns, structural signals, and the corresponding Everything-PR Citation Share Study — EV (Issue No. 07). Twenty-five brands, five engines, sixty-plus consumer-prompt query patterns. Not the output of logged query runs across millions of prompts. Intended as a strategic framework — not a definitive search-engine measurement.

The dominant outlets shaping EV citation are InsideEVs, Electrek, Recurrent, Edmunds EV, Car and Driver EV, CleanTechnica, and the Reddit-and-YouTube creator layer. Brand citation share is built primarily through presence inside that specific outlet set — and through Recurrent battery-data partnership for used-EV citation.

About 5W AI Communications
5W is the AI Communications Firm, building brand authority across the platforms where decisions now happen — ChatGPT, Claude, Perplexity, Gemini, and Google AI Overviews — alongside earned media, digital, and influencer channels. 5W combines public relations, digital marketing, Generative Engine Optimization (GEO), and proprietary AI visibility research to help clients measure and grow their presence in AI-driven buyer research. Founded in 2003, 5W is recognized as a Top U.S. PR Agency by O’Dwyer’s, named Agency of the Year in the American Business Awards®, honored as a 2026 Top Place to Work in Communications by Ragan, and named to Digiday’s WorkLife Employer of the Year list. 5W serves clients across B2C sectors — Beauty & Fashion, Consumer Brands, Entertainment, Food & Beverage, Health & Wellness, Travel & Hospitality, Technology, and Nonprofit — and B2B specialties including Corporate Communications, Reputation Management, Public Affairs, Crisis Communications, and Digital Marketing across Social, Influencer, Paid Media, GEO, and SEO. Learn more at 5wpr.com.

Media Contact
press@5wpr.com

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SOURCE 5W Public Relations

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TECNO Unveiled as Title Sponsor of The SAFF Championship Bangladesh 2026, Bringing AI Innovation to South Asian Football

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4 hours ago

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July 25, 2026

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As Official Title Sponsor, TECNO joins hands with SAFF to inspire the next generation through football, innovation, and meaningful fan experiences.

DHAKA, Bangladesh, July 25, 2026 /PRNewswire/ — TECNO, an AI-driven innovative technology brand, officially announced its title sponsorship of the SAFF Championship Bangladesh 2026, South Asia’s premier international football tournament, during the tournament’s official launch ceremony in Dhaka.

Scheduled to take place from 4–17 November 2026, the championship will bring together South Asia’s leading national teams, celebrating the region’s passion for football while strengthening friendship, sporting excellence, and regional unity.

The partnership marks another milestone in TECNO’s global football journey while reinforcing the brand’s long-term commitment to South Asia—one of its most important strategic markets. Guided by its brand spirit, “Stop At Nothing,” TECNO believes football embodies the same values that define the brand: ambition, resilience, innovation, and the courage to pursue every dream.

A New Chapter for South Asian Football

The title sponsorship was officially announced during the SAFF Championship Bangladesh 2026 Official Launch Press Conference held in Dhaka. The event brought together representatives from the South Asian Football Federation (SAFF), the Bangladesh Football Federation (BFF), TECNO’s global and Bangladesh leadership teams, SAFF Member Associations, national team representatives, members of the diplomatic community, media, and digital creators to celebrate the official launch of the championship and TECNO’s role as its Title Sponsor.

Mr. Purushottam Kattel, General Secretary of SAFF, said: “The SAFF Championship represents the highest stage of football in South Asia, bringing together our Member Associations through competition, friendship, and a shared passion for the game. Today, as we unveil the identity of the SAFF Championship Bangladesh 2026, we are delighted to welcome TECNO as our Title Sponsor. This partnership reflects a shared commitment to elevating football across the region, and together we look forward to delivering a championship that inspires millions of supporters and creates lasting memories for South Asian football.”

Following the official logo unveiling ceremony, SAFF and TECNO exchanged the Title Sponsorship Agreement, formally launching their collaboration for the SAFF Championship Bangladesh 2026 and reaffirming their shared commitment to delivering an outstanding football experience for fans across South Asia.

A Shared Vision for Football

Delivering a recorded message during the ceremony, Guo Lei, General Manager of TECNO, reaffirmed the brand’s belief that football is a powerful platform for inspiring young people, connecting communities, and bringing innovation closer to fans.

“South Asia is home to one of the world’s youngest and most passionate football communities. Football has the unique power to bring people together beyond borders and cultures. We are proud to continue TECNO’s football journey through the SAFF Championship Bangladesh 2026 and look forward to working with SAFF to create unforgettable experiences for millions of football fans across the region.”

Speaking on behalf of TECNO Bangladesh, Rezwanul Hoque, CEO of Ismartu Technology BD Limited, said: “Football has become an important part of TECNO’s global journey because it reflects the values we believe in: passion, resilience, and the courage to dream bigger. Following our partnership with the Bangladesh Football Federation during the AFC Asian Cup Qualifiers, we are honoured to continue that journey as the Title Sponsor of the SAFF Championship Bangladesh 2026. Guided by our brand spirit, ‘Stop At Nothing,’ we look forward to working with SAFF and BFF to create a championship that inspires players, unites communities, and leaves a lasting legacy for football across South Asia.”

Welcoming the championship to Bangladesh, Mr. Fahad Karim, Vice President of the Bangladesh Football Federation (BFF), highlighted Bangladesh’s role as the host nation and officially marked the beginning of the journey toward the championship this November.

“Hosting the SAFF Championship 2026 is a proud moment for Bangladesh and an important milestone for football in our country. Today marks the beginning of our journey toward November, and we look forward to welcoming our fellow South Asian nations to Bangladesh for a championship that celebrates football, friendship, and regional unity. We are delighted to welcome TECNO as the Title Sponsor, and together with SAFF, our Member Associations, and our partners, we look forward to making this a memorable tournament for players, supporters, and the entire South Asian football community.”

TECNO’s Global Football Journey Continues

Football has been at the heart of TECNO’s global brand journey for nearly a decade. Through partnerships with Manchester City Football Club, the CAF Africa Cup of Nations, and the AFC Club Competitions, TECNO has consistently used football as a platform to inspire young people, connect communities, and celebrate the power of sport.

In Bangladesh, TECNO strengthened that commitment through its title sponsorship of the AFC Asian Cup Qualifiers in partnership with the Bangladesh Football Federation. The overwhelming passion shown by Bangladeshi supporters reaffirmed the country’s vibrant football culture and inspired TECNO to deepen its engagement with the sport.

The SAFF Championship Bangladesh 2026 represents the next chapter in TECNO’s football journey, reinforcing the brand’s commitment to South Asia and its rapidly growing community of young football fans.

Growing Together with Bangladesh

Bangladesh continues to be one of TECNO’s most important strategic markets. Alongside its growing smartphone business, the brand is expanding its AI ecosystem and strengthening long-term investments in retail, innovation, and local partnerships—reflecting its confidence in the country’s digital future and youthful consumer base.

Beyond technology, TECNO remains committed to empowering the next generation by supporting platforms that encourage ambition, creativity, and meaningful human connection.

Football Meets AI Innovation

Throughout the championship, TECNO plans to showcase AI-powered experiences designed to bring fans closer to the game. Powered by Ella, TECNO’s AI assistant, these experiences are intended to demonstrate how intelligent technology can enrich football engagement through interactive match information, smarter fan interactions, and immersive digital experiences.

By combining the emotional power of football with accessible AI innovation, TECNO and SAFF share a common vision of inspiring young people, strengthening communities, and creating richer experiences for football fans across South Asia.

As the countdown to November 2026 begins, TECNO, SAFF, and the Bangladesh Football Federation share a common ambition—to deliver a championship that celebrates the passion of South Asian football while inspiring the next generation through innovation, partnership, and the enduring spirit of “Stop At Nothing.”

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Tony Jaa Becomes GAC’s 30-Millionth Customer – GAC Wins Global Trust with “True Craftsmanship”

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6 hours ago

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July 25, 2026

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GUANGZHOU, China, July 25, 2026 /PRNewswire/ — On July 16, at the roll-off ceremony for GAC’s 30-millionth vehicle, Feng Xingya, Chairman of GAC Group, handed over the key to the right-hand-drive GAC M8 PHEV (named GN8 overseas) to Tony Jaa. The milestone vehicle is headed straight for overseas markets.

Thai action superstar Tony Jaa’s choice reflects the trust of 30 million customers worldwide. That trust is built not on showmanship, but on GAC’s solid manufacturing “true craftsmanship.”

From Guangzhou to the world, there are no shortcuts – quality speaks for itself. While the industry runs standard “three-high” tests, GAC pushes further with “five-high, one-mountain, one-dust” extreme vehicle trials. New models undergo at least “two winters and one summer” of validation – a minimum 18 months of real-world road testing, covering 12 major categories and over 1,500 sub-items across wind tunnel labs and proving grounds.

For each overseas market, GAC conducts additional adaptive testing for local climate and road conditions – from Middle Eastern desert heat to Southeast Asia’s humidity and heavy rains.

Quality consistency starts at the smart manufacturing front. GAC’s AION Intelligent Eco-Plant is the world’s first “Lighthouse Factory” for new energy vehicles, featuring full-process digital quality monitoring. Automated robots with AI vision systems deliver millisecond response and millimeter-level precision – ensuring uniform quality whether vehicles roll off lines in Guangzhou or overseas plants.

Safety comes first. GAC’s magazine battery has been deployed in 1.5 million vehicles, accumulating over 160 billion kilometers of safe driving. The Starlink Safety Protection System serves nearly 2 million users, preventing 6.28 million potential incidents.

With this commitment to quality and safety, GAC has established a presence in 110 countries and won the trust of 30 million users. Standing at this new milestone, GAC will continue to refine its craftsmanship and deliver worry-free, high-quality mobility experiences to every customer worldwide.

For further information about GAC, please visit: https://www.gacgroup.com/en or follow us on social media.

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