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Thursday, May 19, 2022

Q4 Financial Statement: Digital Brands Group, Inc. (DBGI) Stock Dropped After Hours.

Digital Brands Group, Inc. (DBGI) is a digital and one of the largest suppliers of apparel on a direct-to-client and wholesale basis. The company sources the productions from third-party manufacturers and sells directly via its official website to clients. It also supplies denim and luxury men’s suiting.


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DBGI stock price during the regular trading of March 31, 2022, was $1.90 with a significant gain of 6.15%. Its price dropped as of the writing in the aftermarket session by 5.26%.

DBGI: Key Financials

DBGI disclosed its fourth-quarter 2021 financials on March 31, 2022, for Q4 2021 ended December 31, 2021. Some of the notable points are highlighted below.

Revenue

The company posted net revenue of $4.0 million in Q4 2021 versus $0.8 million during the corresponding quarter of 2020. Its revenue rocketed by 425% year-on-year. The company’s revenue remained in line with the predictions.

EPS

Per diluted share net loss in Q4 2021 was $9.7 million or $0.76 in comparison to $2.6 million or $3.97 for the comparable fourth quarter of fiscal 2020. The company’s EPS increased considerably year on year.

DBGI: Events and Happenings

On February 01, 2022, DBGI reported its Executive management presented at the 24th Emerging Growth Conference on February 2, 2022. On January 20, 2022, DBGI stated its entry into a definitive combination contract for acquiring Sundry, which is a privately-held international lifestyle apparel company. The expected closure of the transaction is in H1 2022.

On December 9, 2021, DBGI updated on launching a proprietary branded offer on the Google Pay App, which is reliably leveraged by up to 150 million people each month across forty different countries. On November 11, 2021, DBGI announced the selection of Lucy Doan to the company’s Board of Directors.

Conclusion

DBGI stock performance dwindled by 21% year-to-date. Most recently its price dropped on Thursday after hours as a result of the earnings release report and not meeting the observer’s expectations.

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