Digital Ally Announces Deferred Revenue Surpasses $10M Mark; Subscription Payment Plan Continues To See Strong Demand For Its FirstVu Pro Body-Worn Cameras And EVO-HD In-Car Video Solution
Portfolio Pulse from Benzinga Newsdesk
Digital Ally, Inc. (NASDAQ:DGLY) announced that its deferred revenue has surpassed $10 million, marking a significant milestone for the company. This achievement is attributed to the strong demand for its FirstVu Pro body-worn cameras and EVO-HD in-car video solution, offered through a subscription payment plan. The plan, introduced in mid-2020, has been successful and well-received in the industry, particularly by municipalities with limited funding. The company's President, Brody Green, expressed confidence in continued growth and market share expansion. Digital Ally also filed an S-4/A Registration Statement Amendment with the SEC and announced new law enforcement orders, patents, and the addition of the InterVu Room solution to its product lineup.
December 14, 2023 | 1:46 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Digital Ally's announcement of deferred revenue exceeding $10 million reflects strong demand for its subscription-based video solutions, indicating potential for continued growth and increased market share.
The surpassing of the $10 million mark in deferred revenue is a positive indicator of the company's financial health and the success of its subscription model. This milestone, coupled with the recent SEC filing and product announcements, suggests a positive outlook for the company's future performance. Investors may view this news as a sign of strong operational execution and potential for future revenue growth, which could lead to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100