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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, Inc. (NASDAQ: DGLY) announces a partnership between its subsidiary TicketSmarter and Gannett Co., Inc. This agreement integrates TicketSmarter's ticket resale platform with USA TODAY NETWORK, extending its reach to over 145 million visitors monthly. The user-friendly platform will provide easy access to event tickets across local media sites. TicketSmarter's recent notable deals include partnerships with major sports conferences, further enhancing its market presence. This collaboration aims to improve consumer access to live events while promoting growth for both companies.
Digital Ally has announced a partnership between its subsidiary, TicketSmarter, and the New Orleans Pelicans, enhancing ticket buying and selling experiences for fans. This collaboration joins a network of pro basketball organizations leveraging TicketSmarter's platform. TicketSmarter offers 48 million tickets for over 125,000 events across the country. Digital Ally aims to capitalize on this partnership's growth potential while continuing to scale its ticketing services.
Digital Ally has announced the launch of its FirstVu PRO, an advanced body-worn camera designed for law enforcement. Pre-orders have begun, with expected shipping in the first quarter of 2022. Key features include livestreaming, GPS tracking, and remote activation. The product is part of a broader ecosystem, compatible with the QuickVu docking station. CEO Stan Ross emphasized its potential to enhance safety and efficiency for law enforcement personnel.
The Special Meeting of Stockholders for Digital Ally (NASDAQ: DGLY), initially set for December 13, 2021, has been adjourned to December 28, 2021, at 11:15 AM ET. This adjournment was necessary to secure a quorum for business transactions as per the Company’s Amended and Restated Bylaws. Stockholders do not need to vote again unless they wish to change their votes. The Company urges stockholder participation and emphasizes the significance of every vote. For voting assistance, stockholders can reach out to Laurel Hill Advisory Group.
Digital Ally (NASDAQ: DGLY) announced a stock buy-back program allowing for the purchase of up to $10 million of outstanding stock, effective immediately until December 31, 2022. The initiative underscores the company's positive cash position and confidence in future performance. Revenue guidance for Q4 2021 is maintained at $9 million, with fiscal 2022 projected at $50 million, bolstered by growth in acquisitions and core segments. CEO Stanton Ross emphasizes this buy-back as a strategic move to enhance shareholder value.
Digital Ally (NASDAQ: DGLY) announced an order from the Carteret Police Department for 180 FirstVu HD body cameras and docking stations, enhancing their long-standing partnership since 2008. This purchase is supported by the New Jersey Body-Worn Camera Grant Program. CEO Stan Ross emphasized the company's commitment to providing top technology as the industry evolves. Recent additional orders include upgrades from other legacy and new customers for various in-car and body camera systems, strengthening Digital Ally's market presence in law enforcement technology.
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.
Digital Ally reported a 29% increase in Q3 2021 revenues to $4,639,822 compared to 2020, driven by a 421% rise in service revenues. The company highlights successful acquisitions, including TicketSmarter, which generated $2.05 million in its first month. Gross margins fell to 30% from 36% due to lower-margin services. SG&A expenses rose 63% to nearly $5 million due to new subsidiary costs and increased insurance and travel expenses. Net income reached $8.07 million or $0.16 per share, a significant improvement from the previous year.
Digital Ally (NASDAQ: DGLY) will host an investor call on November 17, 2021, at 11:15 a.m. EDT to discuss its third-quarter operating results, acquisitions, and new healthcare division. Notable topics include the acquisition of TicketSmarter and the launch of the Shield Health Protection Product line, designed for safety and health management. The operating results will be released before the call. A replay will be available until January 17, 2022.
Digital Ally (NASDAQ: DGLY) announced an upgrade order from the Columbus Police Department for 20 EVO-HD in-car systems and 30 FirstVu HD body-worn cameras. This transaction, facilitated through the company’s subscription payment program, highlights the department's trust in Digital Ally's advanced evidence capturing technology. CEO Stan Ross emphasized the importance of this equipment for officer safety and transparent video evidence. The EVO-HD system features patented VuLink® technology, enhancing simultaneous video recording across devices, with all evidence hosted on a highly secure GovCloud platform.
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