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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, 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.
Digerati Technologies, Inc. (OTCQB: DTGI) has acquired San Antonio-based SkyNet Telecom, enhancing its cloud communication and broadband solutions. This acquisition boosts Digerati's annual revenue by $3.4 million and expands its customer base by over 215%, totaling 737 business customers in Texas. The company anticipates an annual revenue of $18.5 million post-acquisition, with immediate positive impacts on EBITDA and operating income. Digerati plans to leverage SkyNet's strategies in high-growth markets, aiming for cost synergies during FY2022.
Digerati Technologies, Inc. (OTCQB: DTGI) reported strong financial results for the first quarter of FY2022, ending October 31, 2021. Revenue soared by 143% to $3.777 million, up from $1.552 million in Q1 FY2021. Gross profit saw a 184% increase to $2.287 million, translating to a gross margin of 60.6%, compared to 51.8% the previous year. Non-GAAP operating EBITDA improved to $0.691 million. The net income surged to $2.419 million, a significant turnaround from a loss of $0.726 million in Q1 FY2021. The company continues to leverage acquisitions to enhance service offerings.
Digerati Technologies (OTCQB: DTGI) reported strong financial results for Q4 and FY2021, achieving a 142% revenue increase to $3.787 million from $1.567 million in Q4 FY2020. Gross profit rose 170% to $2.360 million, resulting in a gross margin of 62.3%. Non-GAAP operating EBITDA improved to $0.910 million, reflecting a solid operational performance. The company completed the acquisitions of Nexogy and ActivePBX, expanding its market reach to over 2,600 customers and 28,000 users. Digerati aims for a 10% organic growth rate supported by a $20 million credit facility to pursue further acquisitions.
Digerati Technologies (OTCQB: DTGI) specializes in UCaaS solutions for SMBs. As of now, it serves over 28,000 business users, focusing on Texas and Florida. The company highlighted three case studies in banking, restaurant, and healthcare sectors, showcasing its service effectiveness. Gartner predicts nearly 9% growth in global tech spending, potentially reaching $4.2 trillion by year-end, with cloud services expected to reach $1.2 trillion. Digerati aims to continue enhancing its solutions to meet rising IT demands amid increasing investments in cloud infrastructure.
Digerati Technologies, Inc. (OTCQB: DTGI) announced that its subsidiary, T3 Communications, achieved ‘Built for NetSuite’ status, enhancing its CRM integration capabilities. This SuiteApp allows seamless data transfer between users' communication systems and NetSuite, improving productivity and accuracy. Key features include automated workflows, click-to-dial, call logging, and real-time visibility into customer activity. CEO Arthur L. Smith highlighted that this development aligns with their strategy to expand in the SMB market and leverage growing demand for integrated cloud applications.
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