Digital Brands Group, Inc. ("we", "us", "DBG" or the "Company") (NASDAQ:DBGI), a curated collection of luxury lifestyle, digital-first brands, announced today that it is re-affirming its fiscal year 2024 forecast of $27 million to $30 million in revenue, $6 million to $7 million in internal free cash flow and $1.5 million to $2.0 million in ebitda.
Additionally, the Company commits to no equity offerings for 2024.
The Company has achieved revenue scale with its Sundry acquisition, while it also reduced operating costs by an additional $1 million for 2024.
"We are excited to showcase our commitment to shareholder growth in 2024, which includes (1) the commitment of no equity offerings for 2024 and (2) our continued review of strategic alternatives, especially given our assets and operating forecast relative to our public market value. We have several options to maximize shareholder value, which we will pursue if this dislocation remains," said Hil Davis, Chief Executive Officer of Digital Brands Group.