DBG Provides Shareholder Update
Digital Brands Group, Inc. (DBGI)
Company Research
Source: GlobeNewswire
Improvement in Financial Condition Allows Focus on Revenue Growth Austin, TX, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Digital Brands Group, Inc. (“DBG”) (NASDAQ: DBGI), a curated collection of luxury lifestyle brands, is pleased to provide an update to its shareholders regarding recent activities and future initiatives for growth as detailed below. Benefits to Net Income and Shareholder Equity The Company has made notable progress since May of 2024 in improving its financial condition, including through the elimination of $5.2 million in convertible notes, other debt, and aged accounts payable. Due to the elimination of interest expense from the above, we believe the Company’s interest expense will decline by approximately $2.7 million a year from an estimated $3.1 million in fiscal year 2024 to an estimated $420,000 in fiscal year 2025. This should result in a net benefit of approximately $2.7 million in fiscal year 2025 to net income and cash flow. Most importantly, the c
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DBGI
News
- DBG Announces First 45 Day Results with VAYNERCOMMERCE resulting in a 224% increase in digital revenueGlobeNewswire
- Digital Brands Announces 1-for-50 Reverse Stock Split [Yahoo! Finance]Yahoo! Finance
- Digital Brands Announces 1-for-50 Reverse Stock SplitGlobeNewswire
- DBG Partners with VAYNERCOMMERCE to Launch AVO on Tik Tok Shop & Tik Tok Live [Yahoo! Finance]Yahoo! Finance
- DBG Partners with VAYNERCOMMERCE to Launch AVO on Tik Tok Shop & Tik Tok LiveGlobeNewswire
DBGI
Sec Filings
- 12/17/24 - Form 8-K
- 12/16/24 - Form 8-K
- 12/13/24 - Form 8-K
- DBGI's page on the SEC website