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The Company's subscription payment plan continues to see strong demand for its FirstVu Pro body-worn cameras and EVO-HD in-car video solution.
LENEXA, KS, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Digital Ally, Inc. (NASDAQ:DGLY) (the "Company"), which develops, manufactures, and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and event security, today announced a notable milestone with its deferred revenue balance exceeding $10 million for the first time in the Company's history.
The Company's switch to a subscription program model in mid-2020 has proven to be a great success and widely accepted in the industry as adequate funding for many municipalities can be a rigorous and slow process. The subscription model minimizes their upfront capital expenditure and allows flexibility for the customer based on their current financial situation, without having to sacrifice their urgency for video evidence technology.
"We're proud to announce another great milestone for the Company, as we continue to build momentum throughout the marketplace and compile a robust customer base taking advantage of our subscription model. Surpassing $10 million is a great feat for the Company, with nearly 300 customers currently utilizing our subscription plans throughout the country," said Brody Green, President of Digital Ally, adding, "By no means does this satisfy our management team, as we fully expect these numbers to continue to grow alongside our market share within this industry and others. We are excited about the forward progress being made, and this milestone shows the potential and future growth the Company will have as it becomes disciplined and attentive moving forward."
The milestone comes on the heels of the Company's recent filing of the S-4/A Registration Statement Amendment with the U.S. Securities and Exchange Commission, the announcement of several notable law enforcement orders and patents, as well as the addition of its InterVu Room solution. Digital Ally continues to demonstrate its commitment to innovation and a world-class video solutions ecosystem with the FirstVu Pro body-worn camera, EVO-HD in-car system, InterVu Room system, EVO Web and QuickVu docking stations.
Posted In: DGLY
