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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財年二季報
美股SEC公告 ·  2024/08/17 05:29

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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報告2024年第二季度營業收入爲562萬美元，同比下降32%，淨虧損爲501萬美元，較2023年第二季度的832萬美元虧損有所改善。毛利潤下降91%，降至242,392美元，原因是銷售降低和成本上升。視頻解決方案部門的營業收入下降46%，而娛樂收入下降68%。營業費用下降46%，降至416萬美元，主要由於贊助和行政成本的減少。公司季度末現金及現金等價物爲614,713美元。管理層提到，競爭加劇和專利訴訟的不利影響是影響視頻部門表現的因素。Digital Ally專注於通過其營業收入管理和娛樂部門以及新視頻產品來改善毛利率。公司面臨流動性挑戰，並正在探討資本籌集的選項以資助運營。管理層強調需要在短期內恢復正現金流和盈利能力。
Digital Ally報告2024年第二季度營業收入爲562萬美元，同比下降32%，淨虧損爲501萬美元，較2023年第二季度的832萬美元虧損有所改善。毛利潤下降91%，降至242,392美元，原因是銷售降低和成本上升。視頻解決方案部門的營業收入下降46%，而娛樂收入下降68%。營業費用下降46%，降至416萬美元，主要由於贊助和行政成本的減少。公司季度末現金及現金等價物爲614,713美元。管理層提到，競爭加劇和專利訴訟的不利影響是影響視頻部門表現的因素。Digital Ally專注於通過其營業收入管理和娛樂部門以及新視頻產品來改善毛利率。公司面臨流動性挑戰，並正在探討資本籌集的選項以資助運營。管理層強調需要在短期內恢復正現金流和盈利能力。
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