Digital Ally Announces University Security Order
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Insights
The recent order by Kansas State University for Digital Ally's FirstVu Pro body-worn cameras and related systems represents a strategic expansion of the company's customer base beyond traditional law enforcement agencies. This diversification into the educational sector indicates a potential for market growth and could signal a broader trend within the industry. As universities increasingly prioritize campus security, demand for advanced safety and security products may rise, offering a revenue stream for companies like Digital Ally.
For investors, this development may suggest a positive outlook for Digital Ally's sales growth and market share expansion. However, it is essential to monitor the company's ability to scale operations and maintain service levels with the growing clientele. The long-term success of this strategy will depend on continued product innovation and the ability to secure repeat orders from institutions like Kansas State University.
From a financial perspective, the order from Kansas State University has the potential to contribute positively to Digital Ally's revenue. The adoption of a subscription payment plan could lead to a more predictable and recurring revenue model, which is often favored by investors. The company's recent announcements of law enforcement orders and patents, along with the introduction of the InterVu Room solution, may indicate a robust product development pipeline that can enhance its competitive edge.
It will be important to assess the impact of these orders on Digital Ally's financials in upcoming earnings reports. Investors should look for increases in revenue, improvements in profit margins and how these orders affect the company's cash flow. Additionally, the ability to secure orders from educational institutions could help mitigate sector-specific risks and reduce dependency on law enforcement contracts.
The deployment of body-worn cameras and in-car systems in university settings raises considerations regarding privacy and data protection. While not directly financial in nature, these legal aspects can have significant implications for Digital Ally's operations. Ensuring compliance with privacy laws and regulations is critical, as failure to do so can lead to legal challenges and damage the company's reputation.
Investors should be aware of the company's adherence to legal standards and any potential liabilities that may arise from the use of surveillance technology in educational environments. The company's ability to navigate these legal complexities will be essential in maintaining its market position and avoiding costly litigation.
Order from Kansas State University placed through the Company’s subscription payment plan as strong demand continues for FirstVu Pro body-worn cameras
Lenexa, KS , Jan. 24, 2024 (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 event security, today announced a notable order for multiple FirstVu Pro body-worn cameras, EVO-HD in-car systems and QuickVu docking station to be deployed campus-wide by Kansas State University in Manhattan, Kansas.
This order, along with a recent deployment by the University of Kansas, reflects the versatility of utilizing Digital Ally’s video solutions technology outside of traditional law enforcement applications, and the growing demand from university officials as they increasingly focus on campus security.
“We’ve been a customer of Digital Ally for many years,” said Ronnie Grice, Chief of Kansas State University’s Division of Public Safety, adding “We continue to trust Digital Ally’s innovative technology, dependability and service levels as we strive to enhance the safety and overall experience of students, faculty, staff and visitors.”
“We’re proud to partner with Chief Grice in his division’s efforts to optimize safety and security on Kansas State University’s campus,” said Brody Green, President of Digital Ally, adding, “We appreciate the university’s long-time commitment to Digital Ally as we partner in keeping our communities safe.”
The order comes on the heels of the Company announcing several notable law enforcement orders and patents, as well as the addition of its InterVu Room solution. Digital Ally continues to demonstrate its commitment to innovation and a world-class video solutions ecosystem with the FirstVu Pro body-worn camera, EVO-HD in-car system, InterVu Room system, EVO Web and QuickVu docking stations.
About Digital Ally
Digital Ally Companies (NASDAQ: DGLY) through its subsidiaries, is engaged in video solution technology, human & animal health protection products, healthcare revenue cycle management, ticket brokering and marketing, event production and jet chartering. Digital Ally continues to add organizations that demonstrate the common traits of positive earnings, growth potential, innovation and organizational synergies.
For additional news and information please visit www.digitalally.com or follow Digital Ally Inc. social media channels here:
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Contact Information
Brody Green, President
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. Therefore, 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 following: whether the Company will be able to maintain or expand its share of the markets in which it competes with the Video Room solution, FirstVu Pro body cameras, EVO HD in-car camera, QuickVu docking stations and EVO Web; whether the Company will make a global impact with its technology innovations; whether the Company will be able to adapt its technology to new and different uses, including being able to introduce new products; 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; whether the technology referenced in this release will work as anticipated and meet the needs of the Company’s customers; 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 as a result 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, 2022, and quarterly report on Form 10-Q for the three and nine months ended September 30, 2023, as filed with the Securities and Exchange Commission.
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