Digerati Technologies Inc Stock Price, News & Analysis

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.

Digerati Technologies (OTCQB: DTGI) reported a significant financial uptick for Q3 FY2021, with revenue soaring by 140% to $3.751 million compared to $1.566 million in Q3 FY2020. Gross profit also surged 177% to $2.225 million, improving gross margin to 59.3%. Non-GAAP operating EBITDA increased to $0.619 million, up from $0.207 million year-over-year. Despite these improvements, the company recorded a net loss of $12.803 million, primarily due to a $10.878 million loss on derivative instruments. Total customer count rose from 731 to 2,612.

Digerati Technologies (OTCQB: DTGI) announced a strategic partnership between its subsidiary Nexogy and Sandler Partners, a leading master agent in connectivity and cloud services. This collaboration allows Sandler's over 8,000 partners to offer Nexogy's integrated UCaaS and CCaaS solutions, enhancing their communication services portfolio. The demand for such cloud communications is growing amid the shift to hybrid work environments. Digerati aims to accelerate growth and shareholder value through business development and an organic growth strategy.

Digerati Technologies, Inc. (OTCQB: DTGI) announced that CEO Arthur L. Smith will present at the Q2 Investor Summit Virtual Conference on May 18, 2021, at 4:15 PM EDT. This event connects small-cap and microcap companies with qualified investors, featuring about 100 companies and over 300 investors. Registration is available at investorsummitgroup.com. Digerati specializes in cloud services and UCaaS solutions for the SMB market through its subsidiaries T3 Communications and Nexogy.