Digital Brands Group, Inc.
For the period ended Dec 31, 2024. Filed Apr 9, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Apr 9, 2025
DBGI$0.19-31.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONSOLIDATED STATEMENTS OF OPERATIONS
| Year Ended | ||
|---|---|---|
| December 31, | ||
| 2024 | 2023 | |
| Net revenues | $11,555,656 | $14,916,422 |
| Cost of net revenues | 7,911,536 | 8,372,642 |
| Gross profit | 3,644,120 | 6,543,780 |
| Operating expenses: | ||
| General and administrative | 8,652,361 | 14,299,389 |
| Sales and marketing | 2,896,698 | 4,035,835 |
| Distribution | 907,843 | 1,002,343 |
| Impairment of intangible assets | 1,388,000 | - |
| Change in fair value of contingent consideration | - | (10,698,475) |
| Total operating expenses | 13,844,902 | 8,639,092 |
| Loss from operations | (10,200,782) | (2,095,312) |
| Other expense: | ||
| Interest expense | 2,941,171 | 5,517,118 |
| Other non-operating expenses | 83,680 | 704,166 |
| Total other expense, net | 3,024,851 | 6,221,284 |
| Income tax benefit (provision) | 119,044 | (368,034) |
| Net loss from continuing operations | (13,106,589) | (8,684,630) |
| (Loss) from discontinued operations, net of tax | - | (1,562,503) |
| Net loss | $(13,106,589) | $(10,247,133) |
| Weighted average common shares outstanding - basic and diluted | 170,853 | 22,385 |
| Net loss per common share - basic and diluted | $(76.71) | $(457.78) |
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