As filed with the Securities and Exchange Commission on October 27, 2025. Registration Statement No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Direct Digital Holdings, Inc. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Number) 1177 West Loop South, Su ...

Core Insights - Meta Platforms is expected to report third-quarter 2025 results on October 29, reflecting benefits from increased advertising revenues, with estimates at $48.5 billion, indicating a year-over-year growth of 21.6% [1][9] - The company has consistently beaten earnings estimates in the past four quarters, with an average surprise of 20.47% [1] Advertising Revenue Growth - Meta's advertising revenues are projected to grow significantly, with the Asia-Pacific region estimated at $9.66 billion (20% growth), Europe at $11.65 billion (24.5% growth), the U.S. and Canada at $21.7 billion (24.8% growth), and the Rest of the World at $6.37 billion (25.1% growth) [6][9] - The global ad spending is anticipated to rise by 7.4% to $1.17 trillion in 2025, with Meta, Alphabet, and Amazon expected to capture about two-thirds of this new spending [3] Competitive Landscape - Meta is positioned as a key player in the digital ad market alongside Alphabet, Amazon, and Snap, with a reported 11% increase in ad impressions year-over-year in Q2 2025 [3] - Competitors like Alphabet and Amazon have also shown strong growth in their advertising revenues, with Alphabet's revenues at $82.54 billion (11.7% growth) and Amazon's at $15.6 billion (23% growth) [4] AI and User Engagement - The company is leveraging AI and machine learning to enhance ad ranking and measurement, which is driving advertisers' return on investment and user engagement across platforms like WhatsApp, Instagram, Facebook, and Threads [5][9] - AI-driven feed recommendations are noted as a significant factor in maintaining user engagement and driving user base growth [5] User Metrics - The consensus estimate for Family Daily Active People (DAP) is expected to reach 3.49 billion for Q3 2025, indicating strong user engagement across Meta's platforms [7]

Core Insights - Meta Platforms (META) is expected to report third-quarter 2025 results on October 29, with projected revenues between $47.5 billion and $50.5 billion, reflecting a year-over-year increase of approximately 21.8% [1][9]. Revenue and Earnings Estimates - The Zacks Consensus Estimate for third-quarter revenues is $49.43 billion, indicating a 21.8% increase from the previous year's figure [2]. - The consensus estimate for earnings per share stands at $6.60, suggesting a growth of 9.5% year-over-year [2]. Advertising Revenue Growth - Strong advertising revenue growth is anticipated, with estimates for third-quarter advertising revenues at $48.5 billion, representing a 21.6% year-over-year increase [7]. - Meta's platforms, including Facebook, WhatsApp, Instagram, Messenger, and Threads, reach over three billion users daily, enhancing its position in the digital ad market [8]. AI and User Engagement - Meta is leveraging AI and machine learning to enhance its social media offerings, which is expected to drive user engagement and advertising effectiveness [9][18]. - The company has introduced new features to improve user experience and engagement across its platforms [10][20]. Financial Performance and Market Position - Meta's Family of Apps is projected to generate an operating income of $24.86 billion, indicating a 14.1% year-over-year growth [10]. - The Reality Labs segment is expected to incur a loss of $5.58 billion, which is wider than the previous year's loss of $4.43 billion [11]. Stock Performance - META shares have increased by 25.3% year-to-date, outperforming the Zacks Computer & Technology sector's growth of 22.9% [12]. - Despite this, META's current valuation is considered stretched, trading at a forward price/sales ratio of 8.35X, higher than the sector average of 6.88X [15]. Strategic Initiatives - The company is focusing on improving security across its platforms, which is expected to enhance user engagement [20]. - The introduction of Teen Accounts on Instagram and other platforms aims to boost security and user experience [21]. Conclusion - META's strategic use of AI and focus on enhancing user engagement are expected to drive top-line growth, justifying its premium valuation [22].

Group 1 - Investors can bet on the shift of ad dollars online through Netflix and The Trade Desk, both of which are experiencing rapid growth [1] - Netflix's third-quarter revenue grew 17% year over year to approximately $11.5 billion, an increase from 16% growth in the previous quarter [3] - Despite strong results, Netflix's shares declined sharply due to revenue meeting expectations and lower-than-expected profit caused by a one-time tax expense [4] Group 2 - For the full year, Netflix management guided for $45.1 billion in revenue for 2025, indicating a 16% growth [5] - Netflix reported its highest quarterly TV view share in the U.S. and the U.K., which is expected to support future price hikes and increase advertising inventory [6] - The company's advertising business, which is three years old, is now considered a material growth driver, with management indicating plans to double its advertising revenue this year [7]

Core Insights - Whales have adopted a bearish stance on Trade Desk, with 70% of detected trades being bearish and only 10% bullish [1] - The trading volume and open interest indicate a price target range for Trade Desk between $40.0 and $57.0 over the last three months [2] - Recent options trading patterns show significant activity, with a total of $189,769 in puts and $154,936 in calls [1] Options Trading Overview - The analysis of options trading reveals that 5 put trades totaled $189,769, while 5 call trades amounted to $154,936 [1] - Significant options trades include a bearish put sweep with a total trade price of $77.3K at a strike price of $55.00, and a bearish call sweep with a total trade price of $38.2K at a strike price of $53.00 [9] Market Position and Analyst Ratings - Trade Desk operates a self-service platform for advertisers to purchase digital ad inventory, generating revenue from fees based on client spending [10][11] - Analysts have issued ratings for Trade Desk, with a consensus target price of $56.0, and individual targets ranging from $53 to $60 [11][12] - The current trading volume for Trade Desk is 1,733,210, with the stock price at $53.79, reflecting a decrease of -0.19% [14]

Core Insights - The Trade Desk, Inc. (TTD) is a technology company valued at $26.4 billion, offering a self-service cloud-based ad-buying platform for digital advertising campaigns [1] - TTD is expected to announce its fiscal third-quarter earnings for 2025 on November 6, with analysts predicting a profit of $0.24 per share, a 26.3% increase from the previous year [2] - For the full year, TTD's EPS is projected to be $0.95, reflecting a 21.8% increase from fiscal 2024, and is expected to rise to $1.29 in fiscal 2026 [3] Performance Analysis - TTD's stock has underperformed the S&P 500 Index, which gained 14.5% over the past 52 weeks, with TTD shares down 54.7% during the same period [4] - The company's performance is attributed to challenges faced by its open-internet model compared to the Walled Garden model, leading to uncertainty about its long-term viability [5] - Following the Q2 results announcement on August 7, TTD's shares fell 38.6% after reporting adjusted EPS of $0.41, which was below Wall Street's expectation of $0.42, despite revenue of $694 million exceeding forecasts [6] Analyst Sentiment - Analysts maintain a "Moderate Buy" rating for TTD, with 16 out of 38 analysts recommending a "Strong Buy," while the average price target is $69.12, indicating a potential upside of 28.3% from current levels [7]

Core Insights - illumin Holdings Inc. will report its third quarter 2025 financial results on November 7, 2025, before market open [1] - A live webcast will be held on the same day at 8:30 AM ET, featuring CEO Simon Cairns and CFO Elliot Muchnik discussing the results [2] Company Overview - illumin is a leader in digital advertising technology, focusing on empowering marketers to make informed decisions in online consumer communication [1] - The company offers a unified platform that integrates various marketing channels, including programmatic advertising, email, and social media, to enhance campaign execution [4] - Headquartered in Toronto, illumin serves clients across North America, Latin America, and Europe [4]

Core Insights - Coatue Management holds $71.92 million worth of shares in The Trade Desk, Inc. (NASDAQ:TTD), representing 0.20% of its total 13F portfolio, indicating confidence in the stock's potential upside [1] Group 1: AI-Driven Innovations - The Trade Desk, Inc. announced the launch of Audience Unlimited, an AI-driven tool designed to enhance digital advertising by scoring and selecting relevant data segments, improving targeting precision and reducing costs [2] - Audience Unlimited is a significant upgrade aimed at making third-party data more accessible and effective, alongside the introduction of Koa Adaptive Trading Modes, which provide advertisers with options for dynamic optimization or manual management with AI insights [3] Group 2: Advertising Platform Capabilities - The Trade Desk's cloud-based advertising platform facilitates planning, managing, and measuring digital ad campaigns across various channels, including video, display, mobile, and streaming, thereby enhancing overall ad performance [4]

Core Insights - The Trade Desk (TTD) stock is currently trading in a support zone between $49.87 and $55.12, where it has previously bounced back significantly [2] - Over the last decade, TTD stock has shown buying interest at this level seven times, resulting in an average peak return of 80.7% [3] Company Overview - The Trade Desk operates a cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns globally [6] Recent Performance and Risks - TTD experienced a significant decline of over 36% in August 2025 due to weak third-quarter guidance, the sudden departure of the Chief Financial Officer, and increased competition from larger tech companies like Amazon and Netflix [7] - Historically, TTD has faced steep sell-offs during market corrections, including a 36% drop in 2018, over 54% during the Covid crash, and more than 64% amid inflation concerns [7]

Core Viewpoint - A class action lawsuit has been filed against PubMatic, Inc. regarding allegations of securities fraud and unlawful business practices [2]. Group 1: Class Action Details - Investors are encouraged to contact Pomerantz LLP if they purchased PubMatic securities during the Class Period, with a deadline to apply as Lead Plaintiff by October 20, 2025 [2]. - A copy of the Complaint related to the class action can be obtained from Pomerantz's website [2]. Group 2: Financial Performance and Impact - On August 11, 2025, PubMatic reported a reduction in ad spend from a top demand side platform (DSP) partner, which negatively impacted its financial outlook [4]. - The CEO of PubMatic indicated that a significant number of clients had shifted to a new platform, creating challenges for the company [4]. - Following the announcement, PubMatic's stock price dropped by $2.23, or 21.1%, closing at $8.34 per share on August 12, 2025 [4].