Digital Brands Group reports FY 2022 revenue up 84% to $14M, net loss $38M; expects $500K monthly cash flow Oct 2023

Digital Brands Group, Inc.

FY 2022 net revenues $14.0M, +84.2% YoY; gross margin $6.0M, +218.5%.
Net loss attributable to common stockholders $38.0M ($49.32/sh) vs $32.4M ($424.15/sh) in 2021.
Q4 2022 net revenues $3.4M vs $4.0M YoY; net loss $15.8M ($20.46/sh) vs $9.7M.
Expects ~$500K/month internal free cash flow starting Oct 2023 after final MCA payment.
CEO cites Sundry acquisition as path to scale; projects positive EBITDA later in 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Digital Brands Group, Inc. reported fourth quarter ended December 31, 2022 results: revenue $3.4, net income $15.8 million, or $20.46 per share, EPS $20.46 per share.

Period: fourth quarter ended December 31, 2022
Revenue: $3.4
Net income: $15.8 million, or $20.46 per share
EPS: $20.46 per share
Result: reported results

Exact text from the filing

Net revenues were $3.4 in the fourth quarter of 2022 compared to $4.0 million a year ago

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Digital Brands Group, Inc. reported fiscal year ended December 31, 2022 results: revenue $14.0 million, net income $38.0 million, or $49.32 per share, EPS $49.32 per share.

Period: fiscal year ended December 31, 2022
Revenue: $14.0 million
Net income: $38.0 million, or $49.32 per share
EPS: $49.32 per share
Result: reported results

Exact text from the filing

Net revenues for fiscal 2022 increased 84.2% to $14.0 million compared to $7.6 million in 2021

View on SEC.gov

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Digital Brands Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-047126

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