Digital Ally's Costs Weigh On FY22 Margins; Clocks 73% Topline Growth

Anusuya Lahiri
1 min read
0
In this article:

  • Digital Ally, Inc (NASDAQ: DGLY) reported FY22 revenue growth of 73% year-on-year to $37.0 million.

  • Service revenue grew by 113% Y/Y to $26 million. Product revenue grew by 19% Y/Y to $11 million.

  • The service revenue drove the growth due to higher service revenues through acquisitions and the company’s video solutions segment.

  • Also Read: Why Digital Ally Shares Are Gaining Today

  • Gross profit decreased 59% Y/Y to $2.3 million as costs jumped 120.2% Y/Y. The margin declined to 6.3%, down from 26.4%.

  • Digital Ally clocked an operating loss of $(29.7) million versus $(14.8) million a year ago.

  • EPS loss was ($8.50) versus an EPS of $10.14 a year ago.

  • Digital Ally held $3.5 million in cash and equivalents.

  • Price Action: DGLY shares traded lower by 11.04% at $4.11 on the last check Monday.

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article Digital Ally's Costs Weigh On FY22 Margins; Clocks 73% Topline Growth originally appeared on Benzinga.com

.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Advertisement

Recommended Stories