Moderators: JACKPOT
Search This Board: 
Created: 10/08/2006 12:07:52 AM - Followers: 71 - Board type: Free - Posts Today: 0

https://s27.q4cdn.com/906368049/files/News/2022/Zacks_SCR_Research_01172022_DTGI_Thompson.pdf
https://docoh.com/company/1014052/DTGI
DTGI SECURITY DETAILS

Share Structure

Market Cap Market Cap
13,690,843
06/01/2022
Authorized Shares
500,000,000
06/01/2022
Outstanding Shares
139,988,039
06/01/202
Float
81,521,878
06/01/2022
 

Digerati Technologies Reports 118% Revenue Growth to $8.163 Million for Third Quarter FY2022, Highest Quarterly Revenue in Company History

9:55 am ET June 21, 2022 (Globe Newswire) 

EQNX::TICKER_START (Other OTC:DTGI),(OTC US:DTGI), EQNX::TICKER_END - Non-GAAP Operating EBITDA of $0.969 Million -

- Gross Profit of $5.002 Million -

- Strong Gross Margin Improvement to 61.3% -

Digerati Technologies, Inc. (OTCQB: DTGI) ("Digerati" or the "Company"), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business ("SMB") market, announced today financial results for the three months ended April 30, 2022, the Company's third quarter for its Fiscal Year 2022.

Key Financial Highlights for the Third Quarter Fiscal Year 2022 (Ended April 30, 2022)

Arthur L. Smith, CEO of Digerati, commented, "We are extremely pleased with the operating and financial results for our third quarter fiscal year 2022, which include our recent acquisitions of SkyNet Telecom and NextLevel Internet. Our cloud communications and broadband solutions have an expanded footprint in Texas and are now on the west coast in California, serving our target market of small to medium-sized businesses."

Smith continued, "As we build scale and increase our footprint through the continued implementation of our acquisition strategy, our team delivers on outstanding execution in identifying redundancies and cost savings and integrating operations to improve our efficiencies. Our 3 quarter financial results do not yet reflect most of the cost synergies from our integration playbook for our most recent acquisitions of Skynet Telecom and NextLevel Internet. We anticipate realizing these synergies in subsequent quarters that we expect will result in improved operating profitability. We continue to prove out our business model year over year and quarter over quarter."

Antonio Estrada, CFO of Digerati, stated, "All of our financial metrics continue to improve and are trending in the right direction. These are highlighted by our improved revenue, gross margin, adjusted EBITDA and operating EBITDA that have all been boosted by our acquisitions and the subsequent financial improvement due to successful integration. We continue to have our sights set on and remain on a track towards an uplisting to Nasdaq or NYSE American."

Three Months ended April 30, 2022 Compared to Three Months ended April 30, 2021

Revenue for the three months ended April 30, 2022 was $8.163 million, an increase of $4.412 million or 118% compared to $3.751 million for the three months ended April 30, 2022. The increase in revenue is primarily attributed to the increase in total customers between periods due to the acquisitions of Skynet Telecom in December 2021 and NextLevel Internet in February 2022. Our total number of customers increased from 2,612 for the three months ended April 30, 2021, to 3,963 customers for the three months ended April 30, 2022.

Gross profit for the three months ended April 30, 2022 was $5.002 million, resulting in a gross margin of 61.3%, compared to $2.225 million and 59.3% for the three months ended April 30, 2021.

Selling, General and Administrative expenses (excluding legal and professional fees) for the three months ended April 30, 2022 increased by $2.303 million, or 116%, to $4.296 million compared to $1.993 million for the three months ended April 30, 2021. The increase in SG&A is attributed to the acquisitions of Skynet Telecom in December 2021 and NextLevel Internet in February 2022. As part of the consolidations, the Company absorbed all of the employees responsible for managing the customer base, technical support, sales, customer service, and administration.

Operating loss for the three months ended April 30, 2022 was $1.626 million, an increase of $1.038 million or 177%, compared to $0.588 million for the three months ended April 30, 2021. The increase in operating loss between periods is primarily due to the increase in legal and audit fees of $589,000 associated with the acquisition of NextLevel Internet in February 2022.

Adjusted EBITDA income for the three months ended April 30, 2022 was $0.557 million, compared to an adjusted EBITDA income of $0.321 million for the three months ended April 30, 2021. In accordance with SEC Regulation G, the non-GAAP measurement of Adjusted EBITDA has been reconciled to the nearest GAAP measurement, which can be viewed under the heading "Reconciliation of Net Loss to Adjusted EBITDA" in the financial table included in this press release.

Of note were the following non-cash expenses associated with the three months ended April 30, 2022. Company recognition of stock-based compensation and warrant expense of $0.028 million and depreciation and amortization expense of $1.540 million. Gain on derivative instruments was $6.827 million for the three months ended April 30, 2022.

Non-GAAP operating EBITDA (OPCO EBITDA) for the three months ended April 30, 2022 improved to income of $0.969 million, excluding corporate expenses, and all non-cash items and one-time transactional expenses, compared to a Non-GAAP operating EBITDA (OPCO EBITDA) income of $0.619 million for the three months ended April 30, 2021.

Net income for the three months ended April 30, 2022 was $3.902 million, an improvement of $16.705 million, as compared to a net loss of $12.803 million for the three months ended April 30, 2021. The resulting EPS profit for the three months ended April 30, 2022 was $0.03, as compared to a loss of ($0.09) for the three months ended April 30, 2021. The increase in net income between periods is primarily due to the gain on derivative instruments of $6.827 million.

On April 30, 2022 Digerati had $2.384 million of cash.

 

About NextLevel Internet, Inc.

NextLevel Internet is a leading provider of cloud-based Unified Communications and Collaboration ("UC&C"), Contact Center, and Managed Connectivity services. Founded in 1999 and headquartered in San Diego, California, NextLevel offers a full suite of UCaaS services nationwide and operates a high-capacity broadband network with extensive reach and a multi-carrier infrastructure. NextLevel is known for providing amazing client experiences with its managed installation process, backed by a team of experienced engineers and project managers, and its high-touch Client Support and in-house, live-answer tech support representatives.

About Digerati Technologies, Inc.

Digerati Technologies, Inc. (OTCQB: DTGI) is a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the business market. Through its operating subsidiaries T3 Communications (T3com.com), Nexogy (Nexogy.com), SkyNet Telecom (Skynettelecom.net) and NextLevel Internet (nextlevelinternet.com), the Company is meeting the global needs of small businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions including cloud PBX, cloud telephony, cloud WAN, cloud call center, cloud mobile, and the delivery of digital oxygen on its broadband network. The Company has developed a robust integration platform to fuel mergers and acquisitions in a highly fragmented market as it delivers business solutions on its carrier-grade network and Only in the Cloud(TM). For more information, please visit www.digerati-inc.com and follow DTGI on LinkedIn, Twitter and Facebook.

Facebook: Digerati Technologies, Inc.
Twitter: @DIGERATI_IR
LinkedIn: Digerati Technologies, Inc.

Investors:

The Eversull Group
Jack Eversull
jack@theeversullgroup.com
(972) 571-1624

ClearThink
Brian Loper
bloper@clearthink.capital
(347) 413-4234

PlusOneCoin Top Posts Free PlusOneCoin
No plusone'd posts yet. Be the first!
Post Subject
#6838
Latest News on Digerati - since the mods notablecalls 03/01/2021 02:04:14 AM
#8327
https://www.stockscores.com/chart.asp?TickerSymbol=dtgi&TimeRange=1825&Interval= The Night Stalker 07/01/2022 12:20:54 AM
#8326
For real. It’s everywhere. Double-K 06/30/2022 08:51:38 PM
#8325
It's probably just an algo program trying to SC777 06/30/2022 03:20:13 PM
#8324
Is that drip a signal between crooks? Jefe2 06/30/2022 01:19:36 PM
#8323
Could be. I could do without the SC777 06/30/2022 11:15:18 AM
#8322
I don't expect any movement in the pps JACKPOT 06/30/2022 11:09:47 AM
#8321
Gotta love the 100 share bid paints every SC777 06/30/2022 11:07:59 AM
#8320
slow bounce The Night Stalker 06/29/2022 04:09:19 PM
#8319
It's complete insanity. SC777 06/28/2022 01:12:25 PM
#8318
You'd think management would step in at SOME SC777 06/28/2022 01:12:09 PM
#8317
Just added @ .069....wow! JACKPOT 06/28/2022 12:59:56 PM
#8316
https://www.youtube.com/watch?v=3l-2QNFYe80 Jefe2 06/28/2022 08:40:46 AM
#8315
like i said from start, follow the monthly The Night Stalker 06/26/2022 10:39:26 PM
#8314
yeah..... The Night Stalker 06/26/2022 10:23:54 PM
#8313
$8M market cap, way to go guys. SC777 06/24/2022 03:32:07 PM
#8312
That's fantastic, and people are crushing bids at .06. SC777 06/24/2022 03:22:59 PM
#8311
https://digerati-inc.com/highest-quarter-in-company-history/ Jefe2 06/24/2022 11:05:38 AM
#8310
Whoever wanted out is already gone. DTGI is JACKPOT 06/24/2022 09:54:21 AM
#8309
Given the static float and lack of dilution, SC777 06/24/2022 09:53:01 AM
#8308
I truly feel it's manipulated to keep us JACKPOT 06/24/2022 09:51:48 AM
#8307
Someone is STILL crushing bids here on a SC777 06/24/2022 09:50:12 AM
#8306
https://www.stockscores.com/chart.asp?TickerSymbol=dtgi&TimeRange=1825&Interval= The Night Stalker 06/23/2022 09:33:35 PM
#8305
Cap won’t stay there. But, yeah, I feel you. Double-K 06/23/2022 05:01:38 PM
#8304
The problem is they delayed the uplist to SC777 06/23/2022 01:42:22 PM
#8303
….so far. I get your frustration. Been watching Double-K 06/23/2022 01:13:38 PM
#8302
Whatever management is doing now has brought ZERO SC777 06/23/2022 12:18:25 PM
#8301
These guys really need to make some noise. Double-K 06/23/2022 11:42:26 AM
#8300
https://stocktwits.com/TwentyonTwenty/message/467762805 Jefe2 06/23/2022 09:58:28 AM
#8299
If it was me.....With some profits we have....buy JACKPOT 06/22/2022 03:03:34 PM
#8298
The only stock in the world that literally SC777 06/22/2022 03:01:32 PM
#8297
Net income for the three months ended April JACKPOT 06/22/2022 02:43:54 PM
#8296
https://www.expressnews.com/business/article/Digerati-Technologies-quarterly-rep Jefe2 06/22/2022 02:20:13 PM
#8295
I have a good feeling that we're gonna JACKPOT 06/22/2022 12:18:32 PM
#8294
I’m starting to get very angry here SC777 06/21/2022 04:11:08 PM
#8293
Goes to show you in the OTC, fundamentals JACKPOT 06/21/2022 01:48:38 PM
#8292
Doesn’t matter much unless there are people to SC777 06/21/2022 01:14:19 PM
#8291
https://stocktwits.com/MickeyMsi/message/467368294 Jefe2 06/21/2022 01:03:47 PM
#8290
Digerati Technologies Reports 118% Revenue Growth to $8.163 JACKPOT 06/21/2022 11:42:53 AM
#8289
I don't understand how there are zero eyes SC777 06/21/2022 10:15:37 AM
#8288
Time to get out of this sector and JACKPOT 06/21/2022 10:10:53 AM
#8287
And zero volume SC777 06/21/2022 10:03:21 AM
#8286
Nice! Double-K 06/21/2022 08:20:11 AM
#8285
Wow JACKPOT 06/21/2022 07:30:43 AM
#8284
10Q is out. $8.2m quarterly revenue - SC777 06/21/2022 07:24:10 AM
#8283
https://stocktwits.com/MickeyMsi/message/466451090 Jefe2 06/16/2022 12:16:57 PM
#8282
NT 10-Q just filed. We wait. PennyStockTrader2 06/15/2022 04:02:49 PM
#8281
I don't know BUT all I can say JACKPOT 06/14/2022 11:23:37 AM
#8280
The amount of air shares that they keep SC777 06/14/2022 11:02:31 AM
#8279
Viagra kicked in late....DTGI JACKPOT 06/13/2022 03:49:13 PM
#8278
Should be this week......$$$$$ JACKPOT 06/13/2022 12:54:14 PM
Post Subject