Digital Ally Announces Revenue Guidance for 2021 Fourth Quarter and 2022 Fiscal Year

Rhea-AI Summary

Digital Ally (NASDAQ: DGLY) announced during its third quarter earnings call on November 17, 2021, that it expects revenues of approximately $50 million for fiscal year 2022, driven by its video solutions, health protection products, and strategic acquisitions. Q4 2021 revenue guidance is projected to exceed $9 million, contributing to an estimated $18 million for the full year. Digital Ally continues to expand its market presence through innovative technology and acquisitions aimed at enhancing growth and organizational synergies.

Positive

• 2022 revenue guidance of approximately $50 million.
• Q4 2021 revenue expected to exceed $9 million.
• Strategic acquisitions positively impacting financial metrics.
• Core business of video solutions gaining traction with new product launches.

Negative

• None.

The Company projects 2022 revenues of approximately $50.0 million

Lenexa, KS , Nov. 18, 2021 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ: DGLY) (the “Company”), which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety, and security for venues and events, announced during its third quarter earnings call on November 17, 2021, that it was issuing guidance for the 2021 fourth quarter and preliminary guidance for the full 2022 fiscal year.

The Company expects its 2021 Q4 revenues to exceed $9.0 million, having their 2021 fiscal year revenue expectation to be approximately $18.0 million.

“We are pleased with our third quarter financial results and more specifically our recently acquired operating companies,” said Stan Ross, CEO of Digital Ally, adding, “Both TicketSmarter and Digital Ally Healthcare are already impacting our financial metrics and we are confident that through organizational synergies and solid leadership vision, the best is yet to come.”

The Company anticipates its 2022 fiscal year revenues to be approximately $50.0 million. Our expectations for continued growth and value creation are evident in our fourth quarter guidance as well as our full year 2022 guidance. We look forward to providing more detail on the key drivers of our recent and expected performance along with updates on our strategic initiatives during our first quarter earnings call. We currently anticipate the following drivers are supporting our full year guidance for 2022.

Drivers include:

• Digital Ally’s core business of video solutions expects to continue gaining traction in 2022 with the launch of new body cameras and docking station technologies with an emphasis on subscription sales.
  
• Its Shield^TM line of health protection products developing into the post-pandemic market with a healthy funnel of large volume clients and prospects.
  
• Digital Ally Healthcare’s focus on making strategic, accretive acquisitions of privately held medical billing companies in a fragmented market.
  
• TicketSmarter’s^® involvement with professional and collegiate partnerships which includes offering over 48 million tickets to over 125,000 live events across North America.
  

Ross added, “As we complete 2021 and look into 2022, we are confident in our strategy to continue to seek companies with positive EBITDA and growth potential for all Digital Ally operating companies. We are excited for the future as we continue to expand our businesses.”

For a full replay of the Company’s third quarter earnings call and more details regarding its operating companies, interested parties may dial 855.859.2056 and enter conference ID #9338026. A replay of this conference call will be available until January 17^th, 2022.

About TicketSmarter

With 48 million tickets for sale for over 125,000 live events TicketSmarter^® is a national ticket marketplace offering tickets for live events featuring sports, concerts and theater. TicketSmarter is the official ticket resell partner of Rose Bowl Stadium and the title sponsor of the TicketSmarter Birmingham Bowl with ESPN Events. Additionally, TicketSmarter is the official ticket resell partner of more than 35 collegiate conferences, 250+ universities, and hundreds of events, venues, and charities nationally – including St. Jude Children's Research Hospital, V Foundation and Quarterbacking Children’s Health Foundation. 

About Digital Ally Healthcare

Digital Ally Healthcare, Inc., through its majority owned subsidiary, Nobility Healthcare, LLC, is a Scottsdale, Ariz.-based company that offers leading-edge revenue cycle management solutions to medium to large healthcare organizations. Nobility RCM presents a unique value proposition by providing working capital to its clients alongside advanced RCM and back-office services. Founded in 2014, Nobility RCM has business operations throughout the U.S., with primary operating sites in Arizona, Texas, Kentucky, Tennessee, Ohio, Michigan, Nebraska, and Florida. Widely recognized for pioneering the Nobility Pre-Funding solution, a guaranteed revenue model for healthcare providers, the company delivers exceptional outcomes centered on performance, transparency, and communication.

About Digital Ally^®

Digital Ally specializes in the design and manufacturing of the highest quality video recording equipment and video analytic software. Digital Ally pushes the boundaries of technology in industries such as law enforcement, emergency management, fleet safety and event security. Digital Ally’s complete product solutions include vehicle and body cameras, flexible software storage, automatic recording technology and various critical safety products. In addition, Digital Ally launched the Shield Health Protection Products line including Shield Cleansers, a highly effective, yet safe, disinfectant and sanitizer for use against SARS-CoV-2, a non-contact thermometer/controlled-entry device, an electrostatic sprayer for fast and efficient disinfecting of large areas, and a variety of personal protective equipment including face masks, gloves and sanitizer wipes. With its recent formation of Digital Ally Healthcare, Inc., and acquisition of TicketSmarter, LLC, Digital Ally continues to add organizations that demonstrate the common traits of positive earnings, growth potential and organizational synergies.

For additional news and information please visit www.digitalallyinc.com or follow additional

Digital Ally Inc. social media channels here:

Facebook I Instagram I Linkedin I Twitter

Contact Information
Stanton Ross, CEO
Tom Heckman, CFO
Digital Ally, Inc.
913-814-7774
info@digitalallyinc.com

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. This is especially true of the 2021-22 revenue guidance and variations from such guidance as well as statements regarding its future performance and its ability to implement its strategy. These statements are based on the beliefs and expectations of our management team from the information available at the time such statements are made. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside the Company’s control and are difficult to predict, therefore readers are strongly cautioned that actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the accuracy of the Company’s underlying assumptions for its 2021-22 revenue forecast; the Company’s ability to achieve the increase in revenue for 2021-22 as anticipated; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company’s disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “projects”, “should”, or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended December 31, 2020, and in its quarterly report on Form 10-Q for the three and nine months ended September 30, 2021.

FAQ

What are Digital Ally's revenue expectations for 2022?

Digital Ally anticipates revenues of approximately $50 million for fiscal year 2022.

What is the fourth quarter revenue guidance for Digital Ally in 2021?

The company expects Q4 2021 revenues to exceed $9 million.

How did Digital Ally's acquisitions impact its financial metrics?

The recent acquisitions of TicketSmarter and Digital Ally Healthcare are positively impacting the company's financial metrics.

What factors are driving Digital Ally's revenue growth?

Drivers include new video solutions products, health protection offerings, and strategic acquisitions in the healthcare market.