Digital Ally (NASDAQ:DGLY) released its earnings report for the second quarter of 2018 on Monday.
Here are a few things to know about Digital Ally’s earnings report for the second quarter of the year.
- Digital Ally reported losses per share of 42 cents for the second quarter of 2018.
- This is a wider loss than its losses per share of 41 cents from the same period of the year prior.
- DGLY’s loss per share for the quarter were below Wall Street’s estimate of 37 cents.
- As for revenue in the second quarter of the year, Digital Ally’s came in at $3.56 million.
- The company’s revenue from the second quarter of 2017 was $3.49 million.
- Despite the increase, this is far from analysts’ revenue estimate of $4.2 million for the period.
- Digital Ally also reported a net loss of $2.96 million for the second quarter of 2018.
- The company’s net loss reported during the same time last year was $2.33 million.
- Operating loss reported by the provider of digital technology for law enforcement in the second quarter of the year was $1.44 million.
- Operating loss reported by the company in the second quarter of the previous year was sitting at $2.49 million.
“We are pursuing several new market channels that do not involve our traditional law enforcement and private security customers, including our technology partner affiliation with NASCAR, which we believe will help expand the appeal of our products and service capabilities to new commercial markets,” Stanton Ross, CEO of Digital Ally, said in a statement. “If successful, we believe that these new market channels could yield recurring service revenues in 2018 and beyond.”
DGLY stock was down 2% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
