The following is a summary of the Digital Brands Group, Inc. (DBGI) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Digital Brands Group reported a 6.8% increase in net revenues to $14.9 million.

• The gross profit margins rose to 43.9%, with gross margin increasing 10.2%.

• G&A expenses and sales and marketing expenses both saw a decrease, down 12.7% and 18.5% respectively.

• Net loss per share was considerably less, at $10.2 million or $20.46 per share compared to a loss of $38 million or $1,233.10 per share last year.

Business Progress:

• The company expects to see substantial resurgence in revenue growth due to Q1 wholesale shipments and Q2 wholesale bookings.

• A markedly lower operating expense structure is also anticipated.

• The company got rid of significant non-cash charges as part of the auditing process, and won't incur these going forward.

• The company is looking forward to Q1 earnings, expected to be announced in May, as they project this to highlight the business's strength in wholesale shipments and bookings.

• Finally, company management envisions 2024 as the year they'll reach the inflection point in terms of their business performance.

More details: Digital Brands Group IR

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