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Jun 30, 2020
Digital Ally Q2 2020 Earnings Report
Digital Ally's second quarter results were affected by the Covid-19 pandemic and customer delays, but SG&A expenses decreased excluding a prior patent litigation settlement.
Key Takeaways
Digital Ally reported a decrease in total revenues for the second quarter of 2020, primarily due to a decline in product revenues. The company experienced an operating loss, but excluding a patent litigation settlement from the previous year, the operating loss would have improved. The company introduced new product lines, Shield™ and ThermoVu™, and reduced SG&A expenses through staffing reductions and travel limitations.
Total revenues decreased to $1,732,192 from $2,546,983 year-over-year.
Gross profit declined 59% to $392,758 compared to $950,812 in the previous year.
Operating loss was $2,143,154, compared to an operating income of $2,567,642 in the prior year.
Net loss was $497,894, or ($0.03) per share, compared to a net loss of $387,730, or ($0.03) per share in the prior year.