DSG Global (OTCQB: DSGT), an emerging leader in the electric vehicle (“EV”) market, including SUVs, buses and golf carts, is reporting its second-quarter 2022 earnings for the period ending June 30, 2022. Highlights of the report show that during the quarter DSGT had $2.75 million in signed orders, inclusive of recurring revenue, on the GPS tracking system; the company noted that during quarter three, it anticipates satisfying the backlog of orders as inventory becomes available; the company also reported a strong pipeline of sales‚ more than $14 million — on its newly introduced Vantage golf cart line up, which includes nine containers of Vantage Pro fleet carts, with five already delivered and the other four arriving in the few days. Two additional containers of Shelby golf carts have been ordered with plans to order four more. In addition, the report noted that the company has received more than 2,200 refundable deposits for its SEV electric vehicle and is working with Skywell to complete the homologation process. Other highlights from the report include revenue for the quarter totaling $1,174,878, a 137% increase over Q2 2021; gross profit for the quarter reaching $359,996, a 23% increase over the same period last year; loss from operations for the quarter amounted to $1,457,332, an increase of 38% that ties into compensation expense and R&D expenses; and net Loss of $1,987,471, or 0.02 earning per share (“EPS”) compared to $1,076,258 for Q2 2021. “Our current placed refundable deposits on the SEV electric vehicle represents approximately $88 million in bookable revenue once product is delivered” said DSG Global CEO Robert Silzer in the press release. “As anticipated, we are now seeing a sizeable and sustainable uptrend in sales. With nondilutive funding secured, we will be able to showcase our golf products and deliver on our considerable backlog more aggressively. The company has invested in resources to secure the supply chain and distribution channels so this backlog of product orders can be delivered to customers in a timely manner.”
To view the full press release, visit https://ibn.fm/dWXxa
About DSG Global Inc.
DSG Global is an emerging global technology company with an array of interconnecting businesses in some of the fastest-growing market sectors. The company has roots in the golf industry in which it specializes in fleet management with patented analytics, mobile touch-screen engagement and electric Vantage and Shelby golf carts under the Vantage Tag Systems (“VTS”) brand. For more information about the company, please visit www.DSGTGlobal.com.
NOTE TO INVESTORS: The latest news and updates relating to DSGT are available in the company’s newsroom at https://ibn.fm/DSGT
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