Digital Brands Group, Inc. (DBG) issued its initial 2024 guidance calling for revenue of $27 million to $30 million, an increase of 70 percent to 90 percent versus 2023 revenue expectations.
In a release, the company said it expects first-quarter 2024 revenues to approximate $6 million, based on $4.5 million in confirmed wholesale bookings.
DBG forecasted EBITDA of $1.5 million to $2.0 million for 2024 as it leverages its shared services platform and increases wholesale bookings. The company also forecasted $6.0 million to $7.0 million in internal free cash flow for 2024.
“We are excited to showcase our commitment to shareholder growth in 2024,” said Hil Davis, CEO of the Digital Brands Group. “As part of this commitment, we continue to review 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.”
Photo courtesy DBG
