Digital Ally Inc Stock Price, News & Analysis

Digital Ally, Inc. (DGLY) reported a slight total revenue increase for 2020, amounting to $10.51 million, up from $10.44 million in 2019. Revenue from new products, ThermoVU and Shield, contributed approximately $1.65 million, though service revenues fell by 8% due to the COVID-19 pandemic. The company recorded a $5.25 million gain from the termination of a financial obligation. Despite a net loss of $2.63 million, the gross margin improved to 39%. The company has also successfully navigated its patent litigation and is focused on expanding its product offerings.

Digital Ally, Inc. (NASDAQ: DGLY) has secured a multi-year contract with the Soddy-Daisy Police Department in Tennessee. The contract includes the provision of 21 EVO-HD in-car systems, 22 FirstVu HD body-worn cameras, and one EVO-HD interview room solution, along with access to the EVO Web Portal for cloud storage. This contract highlights the effectiveness of Digital Ally's subscription payment plan, reinforcing the company's presence in law enforcement technology. Chief of Police Mike Sneed expressed confidence in the technology's capabilities, emphasizing its importance for community safety.

Digital Ally (DGLY) will host an investor conference call on March 31, 2021, at 11:15 a.m. Eastern Time to discuss its fourth-quarter and year-end operating results for 2020. The call will address the company's Shield Health Protection Product line and other relevant topics. A press release detailing the operating results will be issued prior to the call. Participants can join by dialing 844-761-0863 and entering conference ID #7465801. A replay will be available until May 31, 2021.

Digital Ally, Inc. (NASDAQ: DGLY) announced a multi-year upgrade order from the Bowling Green Police Department for 18 EVO-HD in-car recording systems and 35 FirstVu HD body-worn cameras. The order includes full access to the EVO Web Portal storage solution powered by Amazon Web Services. This purchase, under Digital Ally's subscription payment plan, emphasizes the company's role in providing essential video technology to law enforcement, enhancing community safety without requiring significant upfront costs.

Digital Ally (NASDAQ: DGLY) announced a multi-year upgrade order from the Pickerington Police Department in Ohio for a comprehensive video evidence solution. This includes 25 FirstVu HD body-worn cameras, 5 EVO-HD in-car camera systems, and an EVO GovCloud storage solution powered by Amazon Web Services. The order, made through a subscription payment plan, allows the department to enhance its video technology affordably. CEO Stan Ross emphasized the importance of budget-friendly solutions for law enforcement, highlighting the commitment to support first responders and their communities.

Digital Ally, Inc. (NASDAQ: DGLY) has expanded its patent portfolio with the addition of three new patents aimed at enhancing video solutions for law enforcement. The patents, numbers 10,904,474, 10,885,937, and 10,860,866, focus on video collection methods, data management from multiple recording devices, and capturing vehicle identification data. CEO Stan Ross highlighted the company's commitment to providing advanced technology for the safety of first responders. These developments reinforce Digital Ally's position as a leader in the video solutions industry.

Digital Ally, Inc. (NASDAQ: DGLY) has entered into a securities purchase agreement with institutional investors to issue and sell 14,300,000 shares of common stock and associated warrants. The offering is priced at $2.80 per share, aiming for gross proceeds of $40,040,000. The warrants have an exercise price of $3.25 and will expire in five years. The transaction is set to close around February 1, 2021, pending customary conditions. This offering follows an effective shelf registration statement declared by the SEC in July 2020.

Digital Ally, Inc. (NASDAQ: DGLY) announced a securities purchase agreement with institutional investors for the sale of 10,000,000 shares of common stock and accompanying warrants, raising approximately $30.95 million. The offering price is set at $3.095 per share, with warrants exercisable at $3.25 per share. The closure of the offering is anticipated on or about January 14, 2021, subject to customary conditions. This transaction is part of an effective shelf registration statement filed with the SEC.

Digital Ally (NASDAQ: DGLY) announced that it will not proceed with its planned underwritten public offering of common stock due to current market conditions. The company maintains a strong financial position, expecting its cash reserves to cover operating expenses and capital needs through at least the end of 2021. This decision reflects caution in navigating market dynamics, ensuring the company's stability without further diluting shareholder value.