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Digerati Technologies Inc (DTGI) delivers cloud-based telephony and UCaaS solutions for global business communications. This news hub provides investors and industry professionals with essential updates on strategic developments, financial performance, and technological innovations.
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Digerati Technologies (OTC: DTGI) announced the passing of its Founder and CEO Arthur L. Smith on February 16, 2025. The company, which provides cloud services specializing in UCaaS solutions for the SMB market, is implementing leadership continuity measures following this loss.
Board Chairman Craig K. Clement, who had worked with Smith since 1988, shared memories of their collaborative efforts in communications technologies, including work with GlobalSCAPE (NYSE: GSB) and satellite-based communications during telecom deregulation throughout Latin America.
The Board of Directors will temporarily assume CEO responsibilities while an interim CEO is identified and appointed. This ensures continuity in leadership and maintains the strategic vision established under Smith's guidance.
Digerati Technologies operates through its subsidiary Verve Cloud, Inc., providing cloud PBX, telephony, WAN, call center, and mobile solutions to small businesses. The company has developed an integration platform to fuel mergers and acquisitions in its fragmented market.
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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