Digerati Technologies Inc Stock Price, News & Analysis

Digerati Technologies, Inc. (OTCQB: DTGI) announced the appointment of Derek Gietzen as President, effective immediately. Gietzen brings over 20 years of telecommunications experience and has successfully led NextLevel Internet, a Digerati subsidiary, to consistent double-digit growth. His leadership is expected to enhance operational integration across Digerati’s subsidiaries and contribute to the company's M&A strategy. CEO Arthur L. Smith expressed confidence in Gietzen's ability to help achieve corporate goals and increase long-term shareholder value.

Digerati Technologies (OTCQB: DTGI) announced significant integration progress following the acquisitions of SkyNet and NextLevel Internet. The company recorded its highest quarterly revenue, achieving $8.163 million, a 118% increase year-over-year. Cost synergies of approximately $500K are expected to enhance profitability, leading to a gross margin of 61.3% and an OPCO EBITDA of $0.969 million. Digerati serves over 4,000 customers with a run-rate exceeding $32 million. The company anticipates further improvements as it continues to execute its integration strategy.

Digerati Technologies (OTCQB: DTGI) announced a strong financial performance for Q3 FY2022, with revenue soaring by 118% to $8.163 million and gross profit rising 125% to $5.002 million. The gross margin improved to 61.3% from 59.3%. Non-GAAP operating EBITDA reached $0.969 million, marking a significant increase compared to the previous year. The company attributed this growth to recent acquisitions, increasing its customer base from 2,612 to 3,963 and anticipating further cost synergies. Net income surged to $3.902 million, a remarkable recovery from a net loss of $12.803 million.

Digerati Technologies, Inc. (OTCQB: DTGI) has announced its participation in the LD Micro Invitational XII Investor Conference on June 8, 2022, at 12:30 PM PT. CEO Art Smith will present insights on the company's record quarterly revenue and growth strategy focusing on UCaaS solutions for small to medium-sized businesses in Florida, Texas, and California. Attendees may also arrange one-on-one meetings with Mr. Smith. Interested parties can find more details on the conference through the provided registration link.

Digerati Technologies, Inc. (OTCQB: DTGI) reported a strong second-quarter performance for FY2022, with revenues rising 21% to $4.019 million compared to $3.326 million in Q2 FY2021. Gross profit also saw a notable increase of 30%, reaching $2.466 million, while gross margin improved to 61.4% from 56.9%. The company closed the acquisition of SkyNet Telecom and NextLevel Internet, expanding its market presence. Despite a $11.047 million net loss due to increased legal fees and derivative losses, non-GAAP operating EBITDA rose to $0.591 million, indicating improved operational performance.

Digerati Technologies, Inc. (OTCQB: DTGI) announces strategic initiatives for 2022 aimed at long-term revenue growth and profitability. The company has successfully integrated recent acquisitions, including Nexogy and ActivePBX, serving over 4,000 customers with a run-rate revenue of $31.5 million. Digerati plans to enhance its UCaaS solutions and target organic growth of 5-10%. It aims to continue evaluating additional accretive acquisitions and focuses on expanding its footprint in the SMB market, with an emphasis on improving operational efficiency and customer support.

Digerati Technologies, Inc. (DTGI) announced its subsidiary NextLevel Internet has received the Great Place to Work-Certified™ designation for the third consecutive year, with 97% of employees affirming it as a great workplace, far exceeding the national average of 53%. This recognition underscores Digerati's commitment to employee experience and culture, which CEO Arthur L. Smith highlights as a key reason for acquiring NextLevel. The certification reinforces expectations of enhanced employee retention and innovation, aligning with Digerati's strategic goals in the cloud services market.

Digerati Technologies, Inc. (OTCQB: DTGI) has acquired NextLevel Internet, a provider of cloud communication and broadband solutions, enhancing its market presence in California and increasing its annual revenue to approximately $31.5 million. The acquisition adds nearly 1,000 clients and is expected to boost EBITDA and operating income for FY2022. Derek Gietzen, former President of NextLevel, joins Digerati's Executive Management Team, bringing valuable experience and strategic vision as the company aims for uplisting to Nasdaq or NYSE American.