Digital Ally, Inc. - DGLY STOCK NEWS

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.

Digital Ally, Inc. (NASDAQ: DGLY) continues its collaboration with TicketSmarter, which serves as the official ticketing partner for Spartan Race and the Professional Fighters League (PFL). This partnership aims to enhance access to over 300 Spartan events and 20 PFL events annually, facilitating ticket purchases for fans and participants. TicketSmarter's CEO, Jeff Goodman, emphasized the growth potential from these unique events. Both Spartan and PFL executives shared their enthusiasm for the partnership, highlighting its role in improving fan experiences. TicketSmarter, with over 48 million tickets available, is also linked to various other sporting and entertainment events.

ST. PETERSBURG, Fla., Feb. 27, 2023 (GLOBE NEWSWIRE) -- Kustom Entertainment, a subsidiary of Digital Ally, will host entertainer Trace Adkins during the Firestone Grand Prix of St. Petersburg on March 3-5. Adkins will perform the national anthem as F-16 Fighting Falcons fly over the track. He has achieved over 11 million album sales and multiple Grammy nominations. The event includes the Country Roots Festival on May 13, which Kustom 440 will produce. CEO Stan Ross emphasized the honor of hosting Adkins, while driver Jack Harvey highlighted the event's excitement.

Digital Ally, Inc. (Nasdaq: DGLY) announced on February 23, 2023, that it has regained compliance with Nasdaq's minimum bid price requirement. This follows a 1-for-20 reverse stock split approved by stockholders on December 7, 2022, which took effect on February 6, 2023. The company’s common stock closed above $1.00 per share for 10 consecutive business days, ending February 22, 2023. Digital Ally offers various products including video technology and healthcare solutions, and it continues to seek out growth opportunities through acquisitions.

Digital Ally, Inc. (DGLY) announced a strategic partnership between its subsidiary Shield Products and Healers PetCare to enhance pet health solutions. This collaboration aims to expand Shield's product line, which includes natural, all-purpose topicals effective for animal wellness. Healers PetCare, known for its innovative pet products, will showcase these offerings at the Global Pet Expo from March 22-24 in Orlando, Florida. Shield's key products include EPA-registered disinfectants and FDA-cleared first aid solutions, reinforcing the company's commitment to pet health and safety.

RedChip Companies announced that interviews featuring Rail Vision Ltd. (RVSN), Aridis Pharmaceuticals, Inc. (ARDS), and Digital Ally, Inc. (DGLY) will be aired on The RedChip Money Report on Bloomberg TV on February 18, 2023, at 7 p.m. ET. This program reaches approximately 73 million homes across the U.S., offering significant exposure for the companies involved. Rail Vision aims to enhance railway safety and efficiency through AI technology, while Aridis focuses on developing innovative anti-infectives. Digital Ally engages in video solutions and health protection products, expanding its business through strategic acquisitions.