Digital Brands Group Initiates 2024 Revenue Guidance; Stock Up In Pre-market

(RTTNews) - Digital Brands Group, Inc. (DBGI) said on Wednesday that it expects revenue of $27 million to $30 million for the full-year 2024, an increase of 70 percent to 90 percent from the full-year 2023 revenue expectations.

Hil Davis, CEO of Digital Brands Group, said: "We are excited to showcase our commitment to shareholder growth in 2024. As part of this commitment, we continue to review strategic alternatives, especially given our assets and operating forecast relative to our public market value."

Following this, DBGI shares were trading up by 7.18 percent at $3.42 per share in the pre-market trade on the Nasdaq.

For the full-year 2024, the company forecasts EBITDA of $1.5 million to $2 million.

As announced earlier, the Group projects its first-quarter 2024 revenues to be around $6 million, which is based on $4.5 million in confirmed wholesale bookings.