earnings
confidence high
sentiment neutral
materiality 0.60
Digital Brands Group Q3 net revenue down 27% YoY to $2.4M; net loss improves to $3.5M
Digital Brands Group, Inc.
2024-Q3 EPS reported
-$3.75
revenue$9,413,457
- Net revenues of $2.4M vs $3.3M a year ago; drop due to exiting low-margin wholesale account.
- Gross profit margin fell to 46.0% from 52.3% due to fixed costs and lower digital revenue.
- G&A expenses decreased $1.3M to $2.4M; includes $1.6M in non-cash expenses.
- Net loss per diluted share improved to $1.63 from $14.55; net loss $3.5M vs $5.4M.
- Expects $3.1M benefit to FY2025 net earnings from completion of amortization, lowering quarterly interest to $105K.