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, Inc. (DGLY) reported a 73% increase in total revenues for 2022, amounting to approximately $37 million, up from $21.4 million in 2021. This growth stemmed largely from service revenues driven by acquisitions, particularly in the ticket resale and healthcare sectors, which accounted for $20.9 million in service revenues. However, the gross profit dropped 59% to $2.32 million due to a rise in cost of sales, which surged to 94% of revenues. SG&A expenses also rose by 57% to $32 million. The company faced an operating loss of $29.7 million and a net loss of $21.7 million, or $8.50 per share, compared to a profit in the prior year. Digital Ally aims for improvement in margins moving forward.
Digital Ally (NASDAQ: DGLY) will host a conference call on April 3, 2023, at 11:15 a.m. ET to discuss its 2022 financial results and the anticipated corporate spin-off. The spin-off aims to create two focused businesses: Digital Ally, providing video solutions and healthcare services, and Kustom Entertainment, centered on ticketing technology and event marketing. Investors should note the risks associated with the spin-off, including potential non-completion and market fluctuations. Participation in the call requires dialing 888-886-7786 with conference ID #35877546.
Digital Ally (NASDAQ: DGLY) announced participation in two upcoming investor conferences: the 2023 Aegis Virtual Conference from May 2-4 and the 2023 EF Hutton Global Conference from May 10-11 in New York. The company is pursuing a separation into two publicly-traded entities to enhance growth and shareholder value. Post-separation, Digital Ally will focus on video technology for law enforcement and healthcare management, while Kustom Entertainment will operate in ticketing and event production. Leadership will be maintained by Brody J. Green and Stanton E. Ross.
Digital Ally, Inc. (NASDAQ: DGLY) continues its collaboration with TicketSmarter, which serves as the official ticketing partner for Spartan Race and the Professional Fighters League (PFL). This partnership aims to enhance access to over 300 Spartan events and 20 PFL events annually, facilitating ticket purchases for fans and participants. TicketSmarter's CEO, Jeff Goodman, emphasized the growth potential from these unique events. Both Spartan and PFL executives shared their enthusiasm for the partnership, highlighting its role in improving fan experiences. TicketSmarter, with over 48 million tickets available, is also linked to various other sporting and entertainment events.
ST. PETERSBURG, Fla., Feb. 27, 2023 (GLOBE NEWSWIRE) -- Kustom Entertainment, a subsidiary of Digital Ally, will host entertainer Trace Adkins during the Firestone Grand Prix of St. Petersburg on March 3-5. Adkins will perform the national anthem as F-16 Fighting Falcons fly over the track. He has achieved over 11 million album sales and multiple Grammy nominations. The event includes the Country Roots Festival on May 13, which Kustom 440 will produce. CEO Stan Ross emphasized the honor of hosting Adkins, while driver Jack Harvey highlighted the event's excitement.
Digital Ally, Inc. (Nasdaq: DGLY) announced on February 23, 2023, that it has regained compliance with Nasdaq's minimum bid price requirement. This follows a 1-for-20 reverse stock split approved by stockholders on December 7, 2022, which took effect on February 6, 2023. The company’s common stock closed above $1.00 per share for 10 consecutive business days, ending February 22, 2023. Digital Ally offers various products including video technology and healthcare solutions, and it continues to seek out growth opportunities through acquisitions.
Digital Ally, Inc. (DGLY) announced a strategic partnership between its subsidiary Shield Products and Healers PetCare to enhance pet health solutions. This collaboration aims to expand Shield's product line, which includes natural, all-purpose topicals effective for animal wellness. Healers PetCare, known for its innovative pet products, will showcase these offerings at the Global Pet Expo from March 22-24 in Orlando, Florida. Shield's key products include EPA-registered disinfectants and FDA-cleared first aid solutions, reinforcing the company's commitment to pet health and safety.
RedChip Companies announced that interviews featuring Rail Vision Ltd. (RVSN), Aridis Pharmaceuticals, Inc. (ARDS), and Digital Ally, Inc. (DGLY) will be aired on The RedChip Money Report on Bloomberg TV on February 18, 2023, at 7 p.m. ET. This program reaches approximately 73 million homes across the U.S., offering significant exposure for the companies involved. Rail Vision aims to enhance railway safety and efficiency through AI technology, while Aridis focuses on developing innovative anti-infectives. Digital Ally engages in video solutions and health protection products, expanding its business through strategic acquisitions.
Digital Ally, through its subsidiary Shield Products, has announced the continuation of its Certified Clean Program in partnership with Goodcents restaurants. This initiative will implement non-contact temperature checks and enhance cleaning protocols using Shield Disinfectant Sanitizer. The program aims to ensure the safety of employees and customers, reflecting a commitment to cleanliness. Additionally, a strategic alliance with Trust Think Products has been formed to further promote health safety through natural solutions. Shield's products are made in the U.S. and are safe for food preparation areas.
Digital Ally (NASDAQ: DGLY) announced a 1-for-20 reverse stock split, effective February 8, 2023. The decision followed stockholder approval during the annual meeting on December 7, 2022. The company's Board of Directors finalized the split on January 13, 2023. This move aims to enhance the stock's marketability and regain compliance with NASDAQ listing standards. Shareholders will receive instructions for exchanging stock certificates, while those holding shares in brokerage accounts will not need to take action. The new CUSIP number for the split-adjusted stock is 25382T200.