Welcome to our dedicated page for Digital Ally news (Ticker: DGLY), a resource for investors and traders seeking the latest updates and insights on Digital Ally stock.
Digital Ally, Inc. (NASDAQ: DGLY) appears in news coverage as a company with roots in video and safety technology that has expanded into live entertainment, ticketing, and healthcare-related services through its subsidiaries. Company news releases describe activities ranging from the development of advanced in-car video systems for law enforcement and fleet safety to the production of large-scale music festivals and the operation of proprietary ticketing platforms.
Recent news highlights several themes that are central to understanding DGLY-related developments. On the technology side, Digital Ally announced an in-car camera solution called EVO-CORE, described as part of a broader ecosystem of video products that includes cloud-based evidence management, connectivity features, and security measures such as secure upload and storage through AWS GovCloud. News also covers contract wins, backlog reduction, and operating results for its video solutions and safety products across law enforcement, emergency management, and commercial markets.
Another major stream of news focuses on entertainment and ticketing. Through its subsidiary Kustom Entertainment, Inc., Digital Ally has issued releases about the Country Stampede Music Festival, including detailed lineups, fan experiences, and programming such as pre-parties, after-parties, and a Battle of the Bands competition. These stories illustrate how the company’s entertainment segment combines established headliners with emerging artists and community-oriented events.
Corporate strategy and capital markets activity also feature prominently. News releases describe the company’s shift in strategic focus toward live event production and ticket brokering, the planned corporate rebranding to Kustom Entertainment, Inc., and an expected ticker symbol change from DGLY to KUST on the Nasdaq Capital Market. Additional items include announcements of reverse stock splits, equity offerings, and conference presentations to investors.
Health-related and distribution news appears as well, such as the master distribution agreement with Redwood Scientific Technologies granting Digital Ally exclusive global rights to distribute nicotine cessation products TBX-Free and TBX Vape-Free. Together, these news items provide insight into how Digital Ally is combining its historical expertise in video and safety technology with newer initiatives in entertainment, ticketing, and healthcare-related products.
Digital Ally (NASDAQ: DGLY) announced a significant order from the Wyandotte County Sheriff’s Office for 40 additional FirstVu HD body-worn cameras, hosted on the EVO Web Portal. This order brings the total to over 60 cameras deployed in the last year, reflecting the Sheriff's Office's commitment to safety and technology in law enforcement. CEO Stan Ross highlighted the importance of this partnership as they continue to enhance their in-car systems and body-worn camera policies.
Digital Ally, Inc. (DGLY) reported a 44% revenue increase in Q2 2021, amounting to $2,493,671, compared to $1,732,192 in Q2 2020. This growth was driven by a 63% rise in product revenues, fueled by the EVO-HD and Shield lines. Gross margin increased to 51% from 23% year-over-year. However, SG&A expenses rose by 53% to $3,877,684 due to heightened insurance premiums and travel costs. The company reported a net loss of $5,382,487 or ($0.10) per share. Digital Ally announced plans for future product expansions and ongoing monitoring of the COVID-19 pandemic's impact on operations.
Digital Ally announced an investor conference call scheduled for August 18, 2021, at 11:15 a.m. EDT to discuss its Q2 2021 operating results and other topics, including the Shield Health Protection Product line. The call will follow the release of its operating results prior to the event. Interested parties can join by dialing (844) 761-0863 with conference ID #1285925. A replay will be available until October 18, 2021, at 11:59 p.m. EDT. Digital Ally offers advanced video recording products for public safety and health protection solutions.
Digital Ally announces the acquisition of a medical billing company through its subsidiary Digital Ally Healthcare, aiming to generate approximately $1.0 million in annual revenues. The acquisition, worth $1.2 million, involves 70% cash payment and an earn-out note linked to future performance. This marks the first acquisition for Digital Healthcare, supported by a $13.5 million venture fund, as part of their strategy to expand into the healthcare market with recurring revenues and profit potential.
Digital Ally has adjourned its Annual Meeting of Stockholders from July 1, 2021, to July 8, 2021, seeking a quorum to conduct business. The meeting records remain as of April 23, 2021. Stockholders who voted prior do not need to act unless changing their votes. The company encourages stockholders to participate and reconsider votes on proposals in the Definitive Proxy Statement.
For more information, stockholders can contact Digital Ally at (913) 814-7774.
Digital Ally, Inc. (DGLY) has announced the adjournment of its Annual Meeting of Stockholders, originally scheduled for June 22, 2021, to July 1, 2021. The move was made to allow the Company more time to achieve a quorum for business transactions. The record date remains April 23, 2021. Stockholders who have already submitted proxy votes do not need to take further action. The Company encourages stockholders to review the proxy materials and vote promptly, especially those who voted against proposals in the Proxy Statement.
Digital Ally has announced the formation of Digital Ally Healthcare, Inc., a new business unit aiming to tap into the healthcare market, valued at approximately $3.5 trillion annually. The company is investing $13.5 million to acquire revenue cycle management (RCM) companies, starting with two targets generating $5 million in annual revenue. Digital Healthcare will own 51% of this venture, ensuring a consistent cash flow. The initiative aligns with the company's strategic goal to diversify its offerings and expand profit margins, as emphasized by CEO Stan Ross.
Digital Ally reported a 4% revenue increase in Q1 2021, totaling $2,535,829 compared to $2,425,745 in Q1 2020. This growth was driven by a boost in product sales, especially from new lines ThermoVU™ and Shield™. However, service revenues fell 5% due to COVID-19 impacts. Gross profit decreased by 36%, leading to an operating loss of $2,865,693. Notably, the company achieved a net income of $21,721,858, a significant improvement from last year's loss. Recent funding efforts raised approximately $66.4 million for operational expansion. An investor call is scheduled for May 18, 2021.
Digital Ally will host an investor conference on May 18, 2021, at 11:15 a.m. EDT, to discuss its operating results for Q1 2021, including its Shield™ Health Protection Product line. The company will release its financial results before the conference call. Shareholders can join the call by dialing (844) 761-0863 and entering conference ID #2687583. A replay will be available from May 18 until July 23, 2021. Digital Ally specializes in video recording equipment and health protection products for various sectors.
Digital Ally (NASDAQ: DGLY) announced new upgrade orders for its evidence recording technology, including eleven EVO-HD in-car video systems and twenty-six FirstVu HD body-worn cameras from the Raymore Police Department. This acquisition was facilitated by the company's subscription payment program. Additional orders were also secured from the North Huntingdon and Hearne Police Departments. CEO Stan Ross emphasized the importance of this technology for law enforcement, noting its comprehensive solution for evidence management.