Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
OVERLAND PARK, KS - Digital Ally, Inc. (NASDAQ:DGLY), a developer of video surveillance products with annual revenues of $18.6 million, has reduced its order backlog to $1.7 million from $2.2 million reported at the end of the first quarter of 2025, according to a company press release.
The surveillance technology firm also announced it has finalized seven new contracts collectively valued at over $800,000 while achieving the backlog reduction.
"We are proud of the strides we’ve made in streamlining operations while securing key business opportunities," said Stanton Ross, CEO of Digital Ally. According to InvestingPro analysis, the company appears undervalued despite facing challenges, including rapid cash burn and revenue decline of nearly 29% in the last twelve months.
The company, which manufactures video surveillance products for law enforcement, homeland security and commercial applications, indicated the backlog reduction reflects its efforts to optimize processes and improve operational efficiency.
Digital Ally stated it aims to ensure faster turnaround times and improved customer satisfaction through these operational improvements.
The company’s backlog reduction comes as it continues to pursue its strategy of advancing its safety solutions portfolio. Digital Ally’s business segments include video solution technology, healthcare revenue cycle management, ticket brokering, and marketing and event production. InvestingPro subscribers can access 15+ additional insights about Digital Ally’s financial health and growth prospects, along with detailed valuation metrics and peer comparison tools.
The information is based on a press release statement issued by Digital Ally on Tuesday.
In other recent news, Digital Ally, Inc. has announced a significant change to its capital structure with a 1-for-100 reverse stock split of its common stock. This adjustment, effective May 23, 2025, follows approval from stockholders and aims to increase the market price per share, potentially improving marketability and compliance with Nasdaq’s listing requirements. Prior to this, the company had also implemented a 1-for-20 reverse stock split on May 7, 2025. Additionally, Digital Ally has been granted continued listing on The Nasdaq Stock Market after a panel review, contingent on meeting specific compliance criteria, including a $2.5 million stockholders’ equity requirement and a $1.00 minimum bid price. The company is also seeking shareholder approval to significantly increase its authorized share count from 210 million to 5.01 billion shares. This move is part of Digital Ally’s strategic initiatives that may involve corporate financing or other business opportunities. In related developments, the firm’s management is actively encouraging shareholders to support this proposal, which could impact the company’s capital structure and provide flexibility for future growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.