Q4 2023 Digital Brands Group Inc Earnings Call Transcript
Key Points
- Net revenues increased 6.8% to $14.9 million compared to $14 million a year ago.
- Gross margin increased 10.2% to $6.5 million compared to $5.9 million.
- Gross profit margins increased to 43.9% from 42.5% a year ago.
- G&A expenses, including non-cash items, decreased 12.7% to $14.3 million compared to $16.4 million a year ago.
- Sales and marketing expenses decreased 18.5% to $4 million compared to $5 million a year ago.
- Net loss per share attributable to common shareholders was $10.2 million or $20.46 per share, compared to a loss of $38 million or $1,233.10 per share.
- Net revenues for the fourth quarter were down to $2.8 million compared to $3.4 million a year ago.
- Gross profit for the fourth quarter was down to $0.5 million compared to $0.6 million a year ago.
- Gross profit margins decreased to 18.3% from 19% a year ago for the fourth quarter.
- Net loss per diluted share attributable to common shareholders for the fourth quarter was $3.7 million or $8.76 per share.
Greetings, and welcome to Digital Brands Group, Inc. fourth-quarter and full-year 2023 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. (Operator Instructions)
As a reminder, this conference is being recorded. It is now my pleasure to introduce John McNamara, Investor Relations. Thank you. You may begin.
Thank you. Good afternoon, everyone, and welcome to the Digital Brands Group fourth-quarter and fiscal year 2023 ernings conference call and webcast. With us on the line from management is Chief Executive Officer, Hil Davis. Hil will begin the call with an overview of the quarter and the full year, and then we will open up the line for questions. As usual, we will remind you that this call may contain forward-looking statements as defined in Section 27 A of the Securities Act of 1933, as amended, including statements regarding, among other things, the company's business strategy and growth strategy, expressions,
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