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Digital Ally | 10-Q: Q2 2024 Earnings Report

Digital Ally | 10-Q: Q2 2024 Earnings Report

Digital Ally | 10-Q:2024财年二季报
美股SEC公告 ·  2024/08/16 16:29

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Digital Ally reported Q2 2024 revenue of $5.62M, down 32% YoY, with a net loss of $5.01M, improved from $8.32M loss in Q2 2023. Gross profit fell 91% to $242,392 due to lower sales and higher costs. The video solutions segment saw a 46% revenue decline, while entertainment revenue dropped 68%.Operating expenses decreased 46% to $4.16M, driven by reduced sponsorship and administrative costs. The company ended the quarter with $614,713 in cash and cash equivalents. Management cited increased competition and adverse effects from patent litigation as factors impacting video segment performance.Digital Ally is focused on improving margins through its revenue cycle management and entertainment segments, as well as new video products. The company faces liquidity challenges and is exploring capital raising options to fund operations. Management emphasized the need to restore positive cash flows and profitability in the near-term.
Digital Ally reported Q2 2024 revenue of $5.62M, down 32% YoY, with a net loss of $5.01M, improved from $8.32M loss in Q2 2023. Gross profit fell 91% to $242,392 due to lower sales and higher costs. The video solutions segment saw a 46% revenue decline, while entertainment revenue dropped 68%.Operating expenses decreased 46% to $4.16M, driven by reduced sponsorship and administrative costs. The company ended the quarter with $614,713 in cash and cash equivalents. Management cited increased competition and adverse effects from patent litigation as factors impacting video segment performance.Digital Ally is focused on improving margins through its revenue cycle management and entertainment segments, as well as new video products. The company faces liquidity challenges and is exploring capital raising options to fund operations. Management emphasized the need to restore positive cash flows and profitability in the near-term.
Digital Ally报告2024年第二季度营业收入为562万美元,同比下降32%,净亏损为501万美元,相较于2023年第二季度的832万美元亏损有所改善。毛利润因销售下降和成本上升而下降91%,降至242,392美元。视频解决方案部门的营业收入下降了46%,而娱乐收入下降了68%。营业费用下降46%,降至416万美元,主要由于赞助和管理成本减少。公司在本季度末拥有现金及现金等价物614,713美元。管理层指出,竞争加剧和专利诉讼的不利影响是影响视频部门表现的因素。Digital Ally专注于通过其收入周期管理和娱乐部门以及新的视频产品来改善利润率。公司面临流动性挑战,并正在探索融资期权以支持运营。管理层强调需要在短期内恢复正的现金流和盈利能力。
Digital Ally报告2024年第二季度营业收入为562万美元,同比下降32%,净亏损为501万美元,相较于2023年第二季度的832万美元亏损有所改善。毛利润因销售下降和成本上升而下降91%,降至242,392美元。视频解决方案部门的营业收入下降了46%,而娱乐收入下降了68%。营业费用下降46%,降至416万美元,主要由于赞助和管理成本减少。公司在本季度末拥有现金及现金等价物614,713美元。管理层指出,竞争加剧和专利诉讼的不利影响是影响视频部门表现的因素。Digital Ally专注于通过其收入周期管理和娱乐部门以及新的视频产品来改善利润率。公司面临流动性挑战,并正在探索融资期权以支持运营。管理层强调需要在短期内恢复正的现金流和盈利能力。
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