Digital Ally, Inc. Announces the Receipt of the Initial Purchase Order Under the Substantial Contract; Announces the Update of Revenue Guidance for Fiscal Year 2020
February 04, 2020 at 07:00 am EST
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Digital Ally, Inc. announced the receipt of the initial purchase order under a substantial contract awarded by the Director of Strategic Procurement of that country for the expected deployment of body cameras to its entire national police force. The contract will include up to 5,000 body cameras with Digital Ally's web-based software infrastructure service for a three-year period. The contract is expected to result in revenues exceeding $4.0 million commencing with delivery of the initial purchase order in February 2020 and the release of periodic purchase orders thereafter. The contract was awarded to Digital Ally after an extensive evaluation process resulting in the national police force replacing a competitors' hardware and services with Digital's body camera and new web-based software services offerings.
The Company noted that this international order was not originally factored into the initial Revenue Guidance for the fiscal year 2020. It had previously provided guidance that its expected revenues for this year would exceed $13.5 million. The increase in expected revenues will not necessarily be proportionate during the fulfillment of the contract. The Company also anticipates the continuation of its increased recurring service revenues during the term of the contract.
Digital Ally, Inc., through its subsidiaries, is engaged in video solution technology, human and animal health protection products, healthcare revenue cycle management, ticket brokering and marketing, event production and jet chartering. Its Video Solutions segment produces digital video imaging, storage products, disinfectant and related safety products for use in law enforcement, security and commercial applications. This segment includes both service and product revenues through its subscription models offering cloud and warranty solutions, and hardware sales for video and health safety solutions. Its Revenue Cycle Management segment provides working capital and back-office services to healthcare organizations throughout the country, as a monthly service fee. Its Entertainment segment acts as an intermediary between ticket buyers and sellers within its secondary ticketing platform, ticketsmarter.com, and acquires tickets from primary sellers to then sell through various platforms.
Digital Ally, Inc. Announces the Receipt of the Initial Purchase Order Under the Substantial Contract; Announces the Update of Revenue Guidance for Fiscal Year 2020
DIGITAL ALLY, INC. 
