Digital Ally's Costs Weigh On FY22 Margins; Clocks 73% Topline Growth

Digital Ally, Inc DGLY reported FY22 revenue growth of 73% year-on-year to $37.0 million.
Service revenue grew by 113% Y/Y to $26 million. Product revenue grew by 19% Y/Y to $11 million.
The service revenue drove the growth due to higher service revenues through acquisitions and the company’s video solutions segment.
Also Read: Why Digital Ally Shares Are Gaining Today
Gross profit decreased 59% Y/Y to $2.3 million as costs jumped 120.2% Y/Y. The margin declined to 6.3%, down from 26.4%.
Digital Ally clocked an operating loss of $(29.7) million versus $(14.8) million a year ago.
EPS loss was ($8.50) versus an EPS of $10.14 a year ago.
Digital Ally held $3.5 million in cash and equivalents.
Price Action: DGLY shares traded lower by 11.04% at $4.11 on the last check Monday.

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