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Mar 31, 2023
Digital Ally Q1 2023 Earnings Report
Digital Ally reported an improved net income and nearly $7.7 million in quarterly revenues.
Key Takeaways
Digital Ally reported first quarter 2023 operating results, with total revenues of $7.7 million and an improved net income. The company saw continued success with new video products and growth in deferred revenue. The Digital Ally Healthcare venture is right-sizing to maximize profitability.
Reported nearly $7.7 million in quarterly revenues for Q1 2023.
Deferred revenue balance nearly doubled, reaching nearly $8.9 million at the end of Q1 2023.
New video products, including FirstVu Pro, FirstVu II, and QuickVu docking stations, are gaining traction.
Digital Ally Healthcare venture is focused on maximizing profitability through acquisitions.
Digital Ally
Digital Ally
Forward Guidance
Digital Ally is focused on maximizing the profitability of its entertainment segment and growing it organically with the new Kustom 440 subsidiary. The company will continue to take advantage of new business opportunities and maximize existing business lines to benefit the company and its shareholders through 2023 and beyond.
Positive Outlook
- Continued success and traction in the marketplace with new video products.
- Deferred revenue balance nearly doubled.
- Momentum being gained in Digital Ally Healthcare venture.
- Roll-up strategy for medical billing companies is effective and attractive to potential targets.
- Partnership between TicketSmarter and Kustom 440 will benefit shareholders.