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Digital Ally, Inc. (DGLY) is a prominent provider of advanced mobile video systems, serving a diverse range of markets including law enforcement, commercial fleets, and security applications. The company is known for its innovative product lines such as the Digital Video Mirror (DVM Series), which integrates digital in-car video systems into a ruggedized rear-view mirror, optimizing space and functionality in police vehicles and commercial fleets.
Additionally, Digital Ally offers the FirstVu HD, a body-worn or mounted evidentiary-grade video system designed for versatile and compact use. Another notable product is the Laser Ally Lidar speed enforcement system, renowned for its advanced, user-friendly, and ergonomic design.
The company's products are extensively utilized by the U.S. military, law enforcement agencies, and various governmental entities across all 50 states and globally. Digital Ally’s technology integrates electronic, radio, computer, and multi-media technologies to provide comprehensive solutions addressing the needs of mass transit systems, school buses, taxicabs, and military operations.
Digital Ally operates in several segments, including Video Solutions, Revenue Cycle Management, and Entertainment. The company sells its products directly to end-users and through third-party distributors, ensuring a wide market reach both domestically and internationally.
Recent achievements and projects include ongoing enhancements to their core product lines and expanding their market presence through strategic partnerships. The company remains at the forefront of developing and deploying cutting-edge video imaging and storage solutions that meet the complex demands of modern security and law enforcement environments.
Digital Ally (NASDAQ: DGLY) announced that its Evo Fleet video system received recognition at the NAFA Fleet Management Association’s 2023 Innovations Showcase held from April 17-19 in Baltimore, MD.
The Evo Fleet system features advanced telematics and AI technology, offering real-time driver-assist feedback by detecting distracted or drowsy driving, lane drifting, and pedestrians. Key specifications include:
- 1TB Storage
- Live GPS Tracking
- 1080P HD recording
- 4G LTE connectivity
Brody Green, President, emphasized the company's commitment to fleet safety and innovation following this accolade.
Digital Ally (NASDAQ: DGLY) announces key presentations at major industry conferences, highlighting its strategic initiatives. Executives Stanton E. Ross and Brody J. Green will present at the Aegis Virtual Conference on May 2, discussing their prospective business separation into two distinct companies to enhance growth and value. The Aegis conference spans from May 2-4, 2023, focusing on innovative technology and investments in various sectors, while the EF Hutton Global Conference on May 11 in New York will feature one-on-one engagements with institutional investors. The separation will create Digital Ally, a leader in video technology for law enforcement, and Kustom Entertainment, an entertainment firm with ticketing and event marketing services. This strategic move aims to streamline operations and unlock shareholder value.
Digital Ally, Inc. (DGLY) reported a 73% increase in total revenues for 2022, amounting to approximately $37 million, up from $21.4 million in 2021. This growth stemmed largely from service revenues driven by acquisitions, particularly in the ticket resale and healthcare sectors, which accounted for $20.9 million in service revenues. However, the gross profit dropped 59% to $2.32 million due to a rise in cost of sales, which surged to 94% of revenues. SG&A expenses also rose by 57% to $32 million. The company faced an operating loss of $29.7 million and a net loss of $21.7 million, or $8.50 per share, compared to a profit in the prior year. Digital Ally aims for improvement in margins moving forward.
Digital Ally (NASDAQ: DGLY) will host a conference call on April 3, 2023, at 11:15 a.m. ET to discuss its 2022 financial results and the anticipated corporate spin-off. The spin-off aims to create two focused businesses: Digital Ally, providing video solutions and healthcare services, and Kustom Entertainment, centered on ticketing technology and event marketing. Investors should note the risks associated with the spin-off, including potential non-completion and market fluctuations. Participation in the call requires dialing 888-886-7786 with conference ID #35877546.
Digital Ally (NASDAQ: DGLY) announced participation in two upcoming investor conferences: the 2023 Aegis Virtual Conference from May 2-4 and the 2023 EF Hutton Global Conference from May 10-11 in New York. The company is pursuing a separation into two publicly-traded entities to enhance growth and shareholder value. Post-separation, Digital Ally will focus on video technology for law enforcement and healthcare management, while Kustom Entertainment will operate in ticketing and event production. Leadership will be maintained by Brody J. Green and Stanton E. Ross.
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