Digital Brands Group Inc. Files Q1 2024 10-Q
Ticker: DBGI · Form: 10-Q · Filed: May 20, 2024 · CIK: 1668010
Sentiment: neutral
Topics: 10-Q, financials, retail
Related Tickers: DBGI
TL;DR
**DBGI Q1 10-Q filed. Financials out.**
AI Summary
Digital Brands Group, Inc. filed a 10-Q for the period ending March 31, 2024. The filing details financial information and operational updates for the first quarter of 2024. Key financial data and disclosures relevant to investors are presented in this report.
Why It Matters
This filing provides investors with the latest financial performance and disclosures for Digital Brands Group, Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — As a publicly traded company, Digital Brands Group, Inc. faces inherent market and operational risks detailed in its SEC filings.
Key Numbers
- Q1 2024 — Reporting Period (The first quarter of the fiscal year 2024.)
- 2024-03-31 — As of Date (The date as of which financial information is reported.)
Key Players & Entities
- Digital Brands Group, Inc. (company) — Filer of the 10-Q
- 20240331 (date) — End of reporting period
- 20240520 (date) — Filing date
- 4700 S. BOYLE AVE (location) — Company business and mailing address
- VERNON, CA 90058 (location) — Company business and mailing address
- Denim LA, Inc. (company) — Former company name
FAQ
What is the primary business of Digital Brands Group, Inc.?
Digital Brands Group, Inc. operates in the RETAIL-APPAREL & ACCESSORY STORES sector, as indicated by its SIC code [5600].
When was the company formerly known as Denim LA, Inc.?
The company changed its name from Denim LA, Inc. on February 25, 2016.
What is the fiscal year end for Digital Brands Group, Inc.?
The fiscal year end for Digital Brands Group, Inc. is December 31.
What is the filing date of this 10-Q report?
This 10-Q report was filed on May 20, 2024.
What is the company's primary business address?
The company's business address is 4700 S. BOYLE AVE, VERNON, CA 90058.
Filing Stats: 4,508 words · 18 min read · ~15 pages · Grade level 16.5 · Accepted 2024-05-20 17:13:58
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share DBGI The Nasdaq Stock Ma
Filing Documents
- form10-q.htm (10-Q) — 979KB
- ex31-1.htm (EX-31.1) — 17KB
- ex31-2.htm (EX-31.2) — 18KB
- ex32-1.htm (EX-32.1) — 8KB
- ex32-2.htm (EX-32.2) — 8KB
- 0001493152-24-020763.txt ( ) — 5157KB
- dbgi-20240331.xsd (EX-101.SCH) — 44KB
- dbgi-20240331_cal.xml (EX-101.CAL) — 57KB
- dbgi-20240331_def.xml (EX-101.DEF) — 197KB
- dbgi-20240331_lab.xml (EX-101.LAB) — 375KB
- dbgi-20240331_pre.xml (EX-101.PRE) — 291KB
- form10-q_htm.xml (XML) — 663KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 4 ITEM 1.
Financial Statements
Financial Statements 4 Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited), and December 31, 2023 4 Unaudited Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Stockholders' Equity (Deficit) for the Three Months Ended March 31, 2024 and 2023 6 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 ITEM 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 21 ITEM 3
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 32 ITEM 4.
Controls and Procedures
Controls and Procedures 32
OTHER INFORMATION
PART II. OTHER INFORMATION 34 ITEM 1.
Legal Proceedings
Legal Proceedings 34 ITEM 1A.
Risk Factors
Risk Factors 35 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 ITEM 3. Defaults upon Senior Securities 35 ITEM 4. Mine Safety Disclosures 35 ITEM 5. Other Information 35 ITEM 6. Exhibits 36
SIGNATURES
SIGNATURES 38 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Except for historical information, this Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which involve risks and uncertainties. These forward-looking statements can be identified by the use of forward- looking terminology, including the terms "believe," "estimate," "project," "aim," "anticipate," "expect," "seek," "predict," "contemplate," "continue," "possible," "intend," "may," "plan," "forecast," "future," "might," "will," "could," would" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this Annual Report on Form 10-K and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, prospects, growth strategies, the industry in which we operate and potential acquisitions. We derive many of our forward- looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and, of course, it is impossible for us to anticipate all factors that could affect our actual results. All forward-looking statements are based upon information available to us on the date of this Quarterly Report on Form 10-Q. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward- looking statements are not gu