Digital Brands Group forecasts FY24 revenue growth of upto 90 percent

Digital Brands Group has announced its initial 2024 revenue guidance of 27 million dollars to 30 million dollars, an increase of 70 percent to 90 percent against the 2023 revenue expectations.

"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," said Hil Davis, chief executive officer of Digital Brands Group.

The company said in a release that it expects first quarter 2024 revenues to approximate 6 million dollars, based on 4.5 million dollars in confirmed wholesale bookings.

The company forecasts EBITDA of 1.5 million dollars to 2 million dollars for 2024 and 6 million dollars to 7 million dollars in internal free cash flow for 2024.