Digital Ally Inc Stock Price, News & Analysis

Digital Ally (NASDAQ:DGLY) will present at the LD 500 investor conference on September 3rd at 9 AM PST. CEO Stan Ross expressed excitement about showcasing the company's new product lines, which include a non-contact thermometer and an EPA-approved disinfectant, in response to the ongoing pandemic. The virtual format of the conference allows for broader investor access, emphasizing that learning about unique companies is still possible during COVID-19. The LD 500 runs from September 1-4, 2020.

Digital Ally (NASDAQ: DGLY) announced a partnership with DANA Safety Supply to become a certified outfitter of its law enforcement video solutions. This collaboration aims to enhance the distribution of video recording technology to law enforcement agencies across the U.S. DANA Safety Supply, with 26 locations nationwide, specializes in public safety products and services. Both CEOs expressed optimism about supplying critical tools needed for law enforcement amidst increased demand for body cameras and in-car video systems.

Digital Ally reported a Q2 2020 revenue drop to $1.73 million, down 32% year-over-year, primarily due to a 46% decline in product sales. The COVID-19 pandemic impacted product shipments and customer engagements. Gross profit fell to $392,758 with a margin of 23%, down from 37% in 2019. Selling and administrative expenses surged 257% to $2.54 million, mainly due to prior year litigation settlements. Despite introducing new products like ThermoVu and Shield, the company faces challenges in law enforcement hardware sales and ongoing patent litigations.

Digital Ally (NASDAQ: DGLY) announces a new subscription program for in-car camera systems aimed at law enforcement, responding to increased demand and funding challenges due to the pandemic. Following the success of its body camera subscription program, the new offering allows departments to pay over time, with some packages requiring no down payment. The program features the EVO-HD system with VuLink auto-activation technology and offers customizable cloud packages. This initiative aims to enhance safety and support departments lacking necessary funding.

Digital Ally has received significant orders for over 600 4G Cellular Asset Tracking Units (ATUs) from zTrip and Gila River Emergency Medical Transportation Services, totaling more than $300,000 in contracted revenue. zTrip will deploy over 500 ATUs across its nationwide fleet, enhancing safety and operational efficiency. Gila River will integrate 101 ATUs to improve fleet management. The CEO stated that these orders reflect a growing demand for video evidence systems in commercial fleets.

Digital Ally (NASDAQ: DGLY) announced a significant order from the Danville Police Department, comprising 26 FirstVu HD body cameras, 16 DVM-800 in-car systems, and 23 VuLink auto-activation devices. This partnership highlights Digital Ally's role as a key provider of integrated video solutions for law enforcement, emphasizing its patented technology designed to enhance transparency. Chief Chris Yates expressed confidence in Digital Ally’s offerings, noting the comprehensive video ecosystem that meets the department's needs for safety and accountability.

Digital Ally, Inc. (NASDAQ: DGLY) has launched a new E-commerce site, shieldcleansers.com, to meet the increased demand for its Shield brand disinfectants and cleansers, which are less harsh and effective. The active ingredient, Hypochlorous Acid, is listed on the EPA List N as effective against SARS-CoV-2. The company also introduced ThermoVu, a non-contact temperature measuring device. The launch is accompanied by a nationwide marketing campaign targeting law enforcement and commercial clients.

Digital Ally, Inc. (NASDAQ: DGLY) continues its sponsorship in racing, featuring its Shield™ Cleansers as a co-primary sponsor of Spencer Pigot's No. 45 car in the GMR Grand Prix at Indianapolis. This partnership is integral to their marketing strategy, leveraging national TV exposure to promote their products. The company has launched ThermoVuä, a non-contact temperature-measuring tool, and Shieldä Cleanser, aimed at addressing increased safety needs during the Covid-19 pandemic. Digital Ally aims to enhance awareness of its body cameras and safety products as vital tools for law enforcement and public safety.

Digital Ally, Inc. (DGLY) has regained compliance with Nasdaq's minimum bid price requirement, achieving a closing price above $1.00 for ten consecutive trading days. The company received official notice from Nasdaq on June 12, 2020, confirming that the issue is now resolved. Previously, on April 22, 2020, Digital Ally was notified of non-compliance due to its stock price falling below $1.00 for 30 consecutive business days. The closing price on June 11, 2020, was $4.15, marking a significant recovery in the stock's performance.