Digital Brands Group, Inc. (DBGI) is an e-commerce-based business providing apparel under various brand names on a direct-to-client and wholesale basis. The company sources the manufactures from third-party producers and sells directly to consumers via its website. It also offers denim and luxury men’s suits under different brands.
The price of DBGI stock during the regular trading on March 7, 2022, was $1.96 with a phenomenal gain of 47.3%. At the last check in aftermarket, the stock plummeted by 18.3%.
DBGI: Events and Happenings
On March 7, 2022, DBGI reported that its e-commerce revenue development inclined by a record 776% YoY for January and February months. On February 01, 2022, DBGI updated on the participation of its CEO and CMO at the 24th Emerging Growth Conference held on February 2, 2022.
On January 20, 2022, DBGI announced its entry into a definitive combination contract for the acquisition of Sundry. The transaction is estimated to be closed in the first half of 2022. On January 7, 2022, DBGI provided the press with a fourth-quarter 2021 net revenue update. The company expected fourth-quarter 2021 revenue to be in line with its previous guidance of up to $4 million.
On December 9, 2021, DBGI announced the unveiling of an exclusive branded offer on the Google Pay App, which was relaunched with all new features.
DBGI: Key Financials
On November 11, 2021, DBGI released its Q3 2021 consolidated unaudited financials for the quarter ended September 30, 2021. Some of the key highlights are discussed here.
Revenue
Net revenues in the third quarter of 2021 were $2.2 million in comparison to $1.2 million in the same year-ago period. The company recorded an incline of 75% in its year-over-year net revenue.
EPS
Basic and diluted net loss per share in the third quarter of 2021 was $8.9 million or $0.76 versus $3.9 million or $5.89 in the same quarter of 2020. The company observed an improvement in its EPS over the year by 677%.
Conclusion
The stock price of DBGI is 42% down the past year as the economy faced severe regression in the pandemic. Currently, the company’s stock climbed after the announcement of its record revenue gain in January and February. In Monday’s aftermarket session, its stock dipped to shed the gain.
