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Digerati Technologies, Inc. is a prominent cloud telephony service provider catering to the global communication needs of businesses. With a focus on simplicity, flexibility, and cost-effectiveness, the company offers telephony services exclusively in the cloud, accessible over the internet from anywhere with internet connectivity. By leveraging cloud-based technology, Digerati has revolutionized traditional phone systems, eliminating the need for complex premise-based setups and providing enterprise-grade features at substantial cost savings. Over the past 15 years, Digerati has established a robust carrier-grade network with a global presence, enabling the seamless delivery of cloud telephony services worldwide from its headquarters in San Antonio, Texas.
Digerati Technologies (OTCQB: DTGI) announced that its subsidiary, Verve Cloud, has entered into a favored-nations agreement with Vida Global, a conversational AI technology company. This collaboration aims to integrate Vida’s advanced AI technology into Verve’s UCaaS product suite, enhancing its value proposition for small to medium-sized businesses (SMBs). Vida’s AI digital agents can manage key business functions such as customer interactions, appointment scheduling, and lead qualification. The product, targeting Verve's existing and prospective customers, is designed for easy setup and operation, potentially increasing business efficiency and cost savings. This partnership underscores Digerati's commitment to delivering reliable and high-quality communication solutions.
Digerati Technologies (OTCQB: DTGI) reported its fiscal Q3 2024 earnings, revealing a 5% revenue decline to $7.43 million compared to the same period last year. Gross profit dropped 9% to $4.518 million, with a gross margin of 60.8%. Adjusted EBITDA - OPCO fell 22% to $0.784 million. Net loss attributable to shareholders increased 102% to $4.529 million, resulting in an EPS loss of ($0.03) per share. For the nine months ended April 30, 2024, revenue decreased 5% to $22.649 million, and net loss rose 74% to $12.17 million. Digerati's focus remains on expanding its customer base and recurring revenue.
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