Digital Ally Q3 revenue down 25% to $6.3M; net loss widens to $3.7M

KUSTOM ENTERTAINMENT, INC.

2023-Q3 EPS reported -$6.55 vs consensus -$68544.00 ▲ beat (+100.0%)

Q3 2023 revenue $6.34M, down 25% YoY from $8.48M; gross profit up 106% to $1.23M.
Net loss attributable to common stockholders $3.71M ($1.32 per share) vs $1.90M ($0.76) in Q3 2022.
Deferred revenue (contract liabilities) rose to ~$9.9M at Sep 30, 2023 from ~$7.2M a year earlier.
Announced merger of Kustom Entertainment subsidiary with Clover Leaf (CLOE); expects combined co. to list on Nasdaq.
$4.88M revolver from Kompass Kapital secured by real property; proceeds to retire existing debt and for working capital.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KUSTOM ENTERTAINMENT, INC. reported third quarter ended September 30, 2023 results: revenue Total revenues for the three months ended September 30, 2023 were $6,337,699.

Period: third quarter ended September 30, 2023
Revenue: Total revenues for the three months ended September 30, 2023 were $6,337,699
Result: reported results

Exact text from the filing

Total revenues for the three months ended September 30, 2023 were $6,337,699, a decrease of $2,146,454, or (25%), as compared to $8,484,153 for the three months ended September 30, 2022.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

KUSTOM ENTERTAINMENT, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-041394

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