Welcome to our dedicated page for Digerati Technologies news (Ticker: DTGI), a resource for investors and traders seeking the latest updates and insights on Digerati Technologies stock.
Digerati Technologies, Inc. (DTGI) generates news across cloud communications, co-location infrastructure, corporate finance, and leadership developments. The company’s releases describe it as a holding company that provides UCaaS and cloud connectivity through Verve Cloud, Inc., and co-location and related technology infrastructure solutions through WaivCloud, Inc. News about Digerati often focuses on how these businesses serve small and medium-sized enterprises and other business customers.
Investors and followers of DTGI can find updates on financial results from its cloud-based hosted services, including discussions of revenue, margins, and non-GAAP measures such as Adjusted EBITDA and Adjusted EBITDA – OPCO. The company regularly comments on its focus on recurring monthly revenue, higher-margin customers, and the impact of streamlining operations and winding down legacy or unprofitable revenue streams.
Digerati’s news flow also covers strategic and corporate actions, such as refinancing transactions, debt-for-equity exchanges, and changes in its relationship with subsidiaries. For example, the company has reported a refinancing and debt conversion involving Verve Cloud, Inc. that resulted in the divestiture of its controlling interest in that subsidiary while retaining the nationwide co-location business under WaivCloud. Leadership changes, including the appointment of a new Chairman and Chief Executive Officer and the passing of its founder and former CEO, have also been detailed in recent announcements.
On the operating side, Digerati issues updates on partnerships, customer reach, and technology initiatives. These include Verve Cloud’s favored-nations agreement with conversational AI company Vida Global, Inc., market reach highlights across industries and states such as California, Texas, and Florida, and workplace recognition such as Great Place to Work Certification for Verve Cloud. For ongoing insight into how Digerati’s UCaaS, connectivity, and co-location activities evolve, readers can review the latest DTGI news items as they are released.
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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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.
Digerati Technologies (OTCQB: DTGI) has launched a new contact center solution that integrates communication channels, including web chat and social media platforms like Facebook, Twitter, and WhatsApp, into a single cloud-based interface. This product targets small to medium-sized businesses (SMBs) and supports the growing demand for omnichannel communication. Digerati's solution aims to improve customer engagement, retention, and accessibility for businesses of all sizes, making advanced communication tools more affordable and scalable.
Digerati Technologies, Inc. (OTCQB: DTGI) reported strong financial results for the second quarter of Fiscal Year 2021, ending January 31, 2021. Revenue surged 114% to $3.326 million, while gross profit rose 142% to $1.892 million, marking a gross margin improvement to 56.9%. Adjusted EBITDA reached $0.247 million, a significant turnaround from a loss of $0.081 million a year prior. The acquisition of Nexogy and ActivePBX contributed to these gains, although the average monthly revenue per customer decreased from $731 to $485. A net loss of $1.955 million was recorded, up 328% year-over-year.
Digerati Technologies (OTCQB: DTGI) has announced that CEO Arthur L. Smith will present at the Q1 Virtual Investor Summit on March 23, 2021, at 2:30 PM Eastern Time. The conference aims to connect small-cap companies with qualified investors, featuring about 100 firms and over 300 investors. Mr. Smith's presentation will cover the company's strategy, including its recent acquisitions of Nexogy and ActivePBX, and its offerings in UCaaS for the SMB market. Registration is available at the investor summit's official website.
Digerati Technologies, Inc. (OTCQB: DTGI) announced that CEO Arthur L. Smith will present at the Inaugural Emerging Growth Virtual Conference on March 17-18, 2021. This event, hosted by M Vest LLC and Maxim Group LLC, will feature discussions with C-suite executives and presentations from various emerging companies, including those in the TMT sector. Attendees can gain insights from industry leaders and access exclusive content by becoming an M-Vest member. Digerati specializes in UCaaS solutions for SMBs, providing flexible and reliable communications services.
Digerati Technologies (OTCQB: DTGI) announced the elimination of its entire derivative liability related to convertible notes, improving its financial outlook. The notes were extinguished by converting them into equity and restructuring them into a new one-year note with a fixed-priced floor. This move is anticipated to boost future financial results by reducing P&L expenses. Digerati currently generates over $14 million in annual revenue and is positive cash flow generating, supported by a new $20 million credit facility, aiming for uplisting to a major U.S. exchange in 2021.