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Mar 31, 2021
Digital Ally Q1 2021 Earnings Report
Digital Ally's total revenue increased, and the company reported net income due to a gain in the fair value of warrant derivative liabilities.
Key Takeaways
Digital Ally reported a 4% increase in total revenue and a net income for the first quarter of 2021, driven by the success of its ThermoVU and Shield product lines and a gain from the change in fair value of warrant derivative liabilities.
Total revenue increased by 4% compared to the first quarter of 2020.
Gross profit decreased by 36% due to an increase in the cost of sales as a percentage of revenues.
Operating loss was $2,865,693, compared to an operating loss of $1,927,368 in 2020.
Net income was $21,721,858, or $0.49 per share, compared to a net loss of ($2,334,110) or ($0.17) per share in the prior year.
Forward Guidance
Digital Ally is considering further expansion of the ThermoVU and Shield product lines and is pursuing organic expansion and potential acquisitions, cautiously navigating the current environment and future uncertainties.
Positive Outlook
- Substantial liquid resources available to pursue organic expansion.
- Actively pursuing and reviewing several acquisition opportunities.
- Considering further expansion of ThermoVU and Shield product lines.
- ThermoVU and Shield lines continue to generate significant revenues.
- Proactively expanding product offerings has proven successful.
Challenges Ahead
- Challenges to legacy business caused by the COVID-19 pandemic.
- Future uncertainties in the current environment.
- Cautious approach to acquisitions due to the current environment.
- Gross profit decreased 36% compared to the same period last year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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