Digital Ally reports 2023 revenue down 24%; gross profit up 148%; Nasdaq non-compliance

KUSTOM ENTERTAINMENT, INC.

2024-Q1 EPS reported -$1.37 revenue$5,529,351

Total revenue $28.25M, down 24% from $37.01M in 2022; net loss $25.69M ($9.22/share) vs $21.67M ($8.50).
Gross profit improved 148% to $5.76M; entertainment segment revenue fell 33%, healthcare revenue down 15%.
Entered $1.425M senior secured note with Mosh Man LLC to fund Kustom Entertainment operations until merger.
Nasdaq notified company of audit/compliance committee deficiency after director resignation; cure period through Jan 2025.
Clover Leaf merger (Kustom Entertainment) still pending; S-4 filed, Country Stampede assets acquired in March 2024.

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 0.9

KUSTOM ENTERTAINMENT, INC. reported the year ended December 31, 2023 results: revenue $28,248,344.

Period: the year ended December 31, 2023
Revenue: $28,248,344
Result: reported results

Exact text from the filing

more efficient management of our supply chain through outsourcing production, quantity purchases and more effective purchasing practices. ● Total revenues decreased in 2023 to $28,248,344 from $37,009,895 in 2022 a deterioration of $8,761,551 (24%). The primary reason for the overall revenue decrease is a decrease of $6,253,892 (41%) in service revenues from 2022

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KUSTOM ENTERTAINMENT, INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-012637

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