Digital Brands Group Inc Stock Price, News & Analysis

Digital Brands Group (NASDAQ: DBGI) announced a 1-for-100 reverse stock split effective November 4, 2022. This decision follows a shareholder vote on October 13, 2022. Post-split, the company's stock will trade on a split-adjusted basis on the Nasdaq Capital Market. Further details can be found in the definitive proxy statement filed with the SEC on September 14, 2022. The Company focuses on digital-first luxury lifestyle brands and aims to enhance customer engagement through personalized marketing strategies.

Digital Brands Group (NASDAQ: DBGI) has revised its acquisition agreement with Sunnyside, LLC (Sundry) to reduce cash and equity requirements for closure, expected in November. The acquisition is significant, with Sundry having generated $22.8 million in revenue in 2021, and it's projected to be immediately accretive to EBITDA. The revised deal includes $7.5 million in cash, $1 million in equity, and $5.5 million in debt for Sundry's members. This strategic move aims to enhance DBG's revenue scale and cash flow.

Digital Brands Group, Inc. (Nasdaq: DBGI) announced a debt-for-equity exchange with Black Oak Capital to retire approximately $6.25 million in principal debt. This move strengthens DBG's balance sheet, enhancing its potential for acquisitions and growth. Black Oak Capital will serve as a long-term shareholder, with terms limiting monthly conversions to $500,000 or 10% of trading volume. Executive statements highlight optimism for future shareholder value and operational flexibility, alongside a caution regarding forward-looking statements.

Digital Brands Group (DBGI) reported Q2 2022 net revenues of $3.7 million, up 273% year-over-year, with a gross profit margin of 58.1%, marking a 450% increase. The net loss attributed to common stockholders was $9.5 million, down from $10.7 million YOY. Excluding non-cash changes, net loss was $3.6 million. The company anticipates continued growth, especially as they enter their peak selling period, and expect EBITDA to be flat to negative $500,000 for the latter half of 2022.

Digital Brands Group, Inc. (NASDAQ: DBGI) will announce its financial results for Q2 2022 on August 15, 2022, at 8:00 a.m. ET. A conference call to discuss these results will follow at 8:30 a.m. ET, accessible via (866) 605-1828 in the U.S. The company specializes in luxury lifestyle, digital-first brands, focusing on direct-to-consumer and wholesale models. Their strategy centers on leveraging customer data to enhance personalized offerings and increase

Digital Brands Group, Inc. (NASDAQ: DBGI) has revised its acquisition agreement with Sunnyside, LLC, reducing cash and equity requirements to close the deal. The new terms include $5 million in cash, $7 million in cash or equity, and $20 million in equity at the issuance price. The acquisition is expected to be accretive to EBITDA and aims to boost brand awareness and customer demand. With Sundry's 14.5% revenue growth in 2021, DBGI anticipates synergies that will enhance customer retention and lifetime value.

Digital Brands Group, Inc. (DBGI) reported a significant financial improvement for Q1 2022, with net revenue soaring to $3.4 million, a 740% increase compared to $0.4 million last year. The gross profit margin rose to 42.9% from negative 50.8%, leading to a gross profit gain of $1.7 million. Despite a net loss of $7.8 million or $0.59 per diluted share, this marks an improvement of 671% year-over-year. Management anticipates continued revenue growth driven by strong wholesale orders for future seasons.

Digital Brands Group, Inc. (NASDAQ: DBGI) will release its financial results for the first quarter ended March 31, 2022, on May 16, 2022, at 5:00 PM ET. A conference call to discuss these results is scheduled for the same day at 5:30 PM ET, accessible via U.S. dial (866) 605-1828 or internationally. DBG operates a portfolio of digitally native lifestyle brands, focusing on both direct-to-consumer and wholesale models. This strategy allows them to enhance customer engagement and drive long-term value by leveraging consumer data for personalized marketing.

Digital Brands Group announced the closing of its underwritten public offering of 37,389,800 shares at $0.25 per share, raising approximately $9.35 million in gross proceeds. The offering includes a 45-day option for underwriters to purchase an additional 5,608,470 shares. The funds will be used for working capital and to repay $3.07 million in promissory notes. The SEC approved the registration statement on May 5, 2022, with related filings on May 6 and May 9.