Welcome to our dedicated page for Digital Ally news (Ticker: DGLY), a resource for investors and traders seeking the latest updates and insights on Digital Ally stock.
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, through its subsidiary Shield Products, has announced the continuation of its Certified Clean Program in partnership with Goodcents restaurants. This initiative will implement non-contact temperature checks and enhance cleaning protocols using Shield Disinfectant Sanitizer. The program aims to ensure the safety of employees and customers, reflecting a commitment to cleanliness. Additionally, a strategic alliance with Trust Think Products has been formed to further promote health safety through natural solutions. Shield's products are made in the U.S. and are safe for food preparation areas.
Digital Ally (NASDAQ: DGLY) announced a 1-for-20 reverse stock split, effective February 8, 2023. The decision followed stockholder approval during the annual meeting on December 7, 2022. The company's Board of Directors finalized the split on January 13, 2023. This move aims to enhance the stock's marketability and regain compliance with NASDAQ listing standards. Shareholders will receive instructions for exchanging stock certificates, while those holding shares in brokerage accounts will not need to take action. The new CUSIP number for the split-adjusted stock is 25382T200.
Digital Ally, Inc. (NASDAQ:DGLY) will feature in an upcoming interview on The RedChip Money Report airing on Bloomberg TV on February 4, at 7 p.m. ET. CEO Stan Ross will discuss significant business developments, including an impressive 83% year-over-year revenue increase and recent acquisitions that are driving growth. The interview highlights strategic partnerships enhancing market presence.
Bloomberg TV reaches approximately 73 million households across the U.S., providing a broad platform for Digital Ally to showcase its advancements in video recording and safety products aimed at law enforcement and emergency management.
Digital Ally (NASDAQ: DGLY) announced on January 24, 2023, that it has secured an order from Cherokee County, Kansas, for upgraded body-worn and in-car camera systems, including the FirstVu Pro and EVO HD. This acquisition is facilitated through Digital Ally’s five-year subscription program. The FirstVu PRO features include live GPS tracking, remote activation, a full-color touchscreen, and robust video capabilities. The demand for the FirstVu PRO has been strong since its launch in Q1 2022, with over 200 subscription agreements established since early 2020.
Digital Ally, Inc. (NASDAQ:DGLY) will be featured on The RedChip Money Report airing on Bloomberg TV on January 21, 2023, at 7 p.m. ET. The interview will highlight the Company’s roll-up strategy, subscription model for recurring revenue, and partnership with NASCAR, alongside a planned product line expansion for 2023. This segment reaches approximately 73 million homes across the U.S. Digital Ally engages in video solution technology and healthcare revenue cycle management, aiming for growth through strategic acquisitions. For more details, view the full interview here.
Digital Ally, Inc. (NASDAQ: DGLY) has expanded its partnership with MetLife Stadium, deploying 70 FirstVu PRO body cameras and three QuickVu docking stations. This enhances the security and customer experience at the stadium, home to the New York Jets and Giants. The FirstVu PRO features include live GPS tracking, remote activation, and full HD recording capabilities. The cameras are integrated with the EVO Web cloud platform for centralized evidence management. This collaboration emphasizes safety and innovation in sports venues.
Kustom Entertainment, Inc., a new subsidiary of Digital Ally (NASDAQ: DGLY), will oversee TicketSmarter and Kustom 440. A corporate spin-off is planned for H1 2023 to launch a separate publicly traded entity centered on live events and ticketing. The merger aims to enhance entertainment partnerships and event production. Digital Ally and TicketSmarter plan to announce their first concert festival on December 16. TicketSmarter has sold over 48 million tickets in the last decade, focusing on secure and trustworthy ticket transactions.
Digital Ally plans to separate into two independent companies to enhance growth and shareholder value. This spin-off, set for early 2023, will create a ticketing and entertainment business and retain Digital Ally, Inc., focusing on video solutions and medical billing. The standalone entities anticipate annual revenues of $16-$18 million and $23-$25 million respectively for 2022. The separation aims for operational focus and flexibility, capitalizing on distinct market opportunities. Brody J. Green will lead Digital Ally, while Stanton E. Ross will oversee Kustom Entertainment.
Digital Ally, Inc. (DGLY) reported a significant revenue increase of 83% for Q3 2022, totaling $8.48 million, compared to $4.64 million in Q3 2021. The rise is primarily attributed to service revenue growth from recent acquisitions, including TicketSmarter, which generated $15.9 million year-to-date. However, gross profit dropped 57% to $595,500 due to increased cost of sales. SG&A expenses rose 43% to $7.16 million, leading to a net loss of ($1.9 million) or ($0.04) per share. An investor call is scheduled for November 16, 2022.
Digital Ally has announced the launch of the EVO Fleet Vehicle Camera, the most advanced video system for fleet vehicles to date. This new system, featuring telematics technology, includes driver-assist functions, live streaming, and A.I. alerts for distracted driving. It boasts up to 512 GB of storage and records in 1080P HD. The EVO Fleet is expected to ship in Q1 2023 and will be showcased at the Transportation Alliance Expo in Las Vegas. This innovation aims to enhance safety and security for fleet organizations.
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