DSG Global (OTCQB: DSGT) has reported its financial numbers and operational highlights for third quarter 2021, the period ended Sept. 30, 2021. Financial numbers worth noting include revenue growth of 49.1% in the third quarter of 2021 when compared to third quarter 2020. Sales for the quarter grew from $334,161 to $498,380, growth the company attributed to its new Infinity product release. In addition, gross profit for the quarter reached $271,928 compared to $165,950 for Q3 2020, and total inventory increased $430,177. Total tangible assets increased from $2,030,732 in June 2021 to $3,561,470 on Sept. 30, 2021, with total cash reaching $1,317,646 for the quarter, up from $148,084. For the first nine months of 2021, DSGT reported sales of $1,380,324 compared to $608,328 for the same period last year, with gross profit also increased from$361,466 last year to $822,026, a 127.4% increase. Business highlights for Q3 2021 include homologation approval of the ET5 SUV in Europe; the company has rebranded the vehicle as the SEV. DSGT has also introduced new electric vehicle models as well as the new 12-Meter Class Bus and cargo and multipassenger vans. The company continues to expand its dealer candidate network, has received a manufacturing license and a world manufacturing identifier code for the Terra Truck and SEV, and has launched production of its first SEV vehicles, all presold. In addition, the company has been participating in several premier auto shows, where it has showcased its new vehicles and taken preorders. “As we continue to generate interest and orders for our vehicles, it is an exciting time for our company,” said DSG Global CEO Robert Silzer in the press release. “With golf course installations accelerating and vehicle deliveries beginning shortly, we expect revenue to increase multiple fold each quarter in 2022 and for the foreseeable future. All segments of our business including the Infinity HD, 4G Tags, golf carts, e-bikes and electric vehicles are growing. During the current quarter, we expect orders to rise rapidly and to begin start delivering vehicles to end customers. Large-scale deliveries will begin occurring during late Q1 2022. We fully anticipate to become one of the leaders in the electric vehicle industry very quickly.”
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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. With roots in the golf industry in which it specializes in fleet management with patented analytics, mobile touch screen engagement and electric golf carts under the Vantage Tag Systems (“VTS”) brand, the company is moving quickly with road-ready electric vehicles for sale in the first quarter of 2021 through its Imperium Motor Company subsidiary. For more information about the company, please visit www.DSGTGlobal.com.
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