DRCT - Thinking about it, if they have that huge reliance on one customer, the insurance does make sense. This from the lastest 10-Q:
Concentration of customers
There is an inherent concentration of credit risk associated with accounts receivable arising from revenue from major customers on both the buy-side and sell-side of the business. For the three months ended September 30, 2023 and 2022, one customer represented 82% and 70% of revenues, respectively. For the nine months ended September 30, 2023 and 2022, one customer represented 72% and 60% of revenues. As of September 30, 2023 and December 31, 2022, one customer accounted for 90% and 80%, respectively, of accounts receivable.
One customer representing 82 percent of their revenues is dangerous in and of itself.
I have seen lots of $1 stocks with strong earnings and solid balance sheets triple, quadruple and more, but I have yet to see one go below zero.
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