Digital brands group reports second quarter 2022 financial results

Austin, texas , aug. 15, 2022 /prnewswire/ -- digital brands group, inc. ("dbg") (nasdaq: dbgi), a curated collection of luxury lifestyle, digital-first brands, today reported financial results for its second quarter ended june 30, 2022.  second quarter 2022 highlight compared to second quarter 2021 net revenues of $3.7 million, an increase of 273% or $2.7 million gross profit margin of 58.1%, an increase of 450%, versus 39.3% net loss per diluted share of $0.27 versus a net loss of $1.97 net loss attributable to common stockholders was $9.5 million versus a net loss of $10.7 million the net loss included non-cash expenses associated with a change in the fair value of contingent liabilities of $5.9 million versus $3.1 million net loss, excluding the non-cash expense associated with a change in the fair value of contingent liabilities, was $3.6 million versus $7.7 million net loss per diluted share, excluding the non-cash expense associated with a change in the fair value of contingent liabilities, of $0.10 versus a net loss of $1.41 "we delivered strong top line results, which we expect to meaningfully accelerate in the second half of the year as we enter our peak selling period.
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