Digital Brands sees FY24 revenue $27M-$30M

Digital Brands Group announces its initial 2024 revenue guidance of $27 million to $30 million, an increase of 70% to 90% from 2023 revenue expectations. As we stated on our most recent quarterly call, we expect our first quarter 2024 revenues to approximate $6 million, based on $4.5 million in confirmed wholesale bookings. The company forecasts EBITDA of $1.5 million to $2.0 million for 2024, as it leverages its shared services platform and increased wholesale bookings. Additionally, the company forecasts $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. 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,” said Hil Davis, CEO of Digital Brands Group.