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Digital Brands Group (DBGI) investor relations material
Digital Brands Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary14 Nov, 2025
Executive summary
Net revenues for Q3 2025 were $1.6M, down from $2.4M in Q3 2024; net loss remained flat at $3.5M for both periods.
For the nine months ended September 30, 2025, net revenues were $5.8M (down from $9.4M in 2024), with a net loss of $7.7M, unchanged year-over-year.
Type C Meeting with US FDA scheduled for December 11, 2025, to address key items for OST-HER2 Phase 2b trial in osteosarcoma.
US BLA and UK MHRA MAA filings for OST-HER2 expected in January 2026, leveraging Project Orbis.
Revenue in 2026 expected from sale of Priority Review Voucher (PRV) upon regulatory approval.
Financial highlights
Gross margin for Q3 2025 was 43% (down from 46% in Q3 2024); nine-month gross margin was 40% (down from 47%).
Net operating loss of $6.879 million in Q3 2025, compared to $2.875 million in Q3 2024, due to pre-paid regulatory and pre-commercial expenses.
Cash as of September 30, 2025, was $6.7M, with restricted cash of $5.7M; working capital deficit stood at $4.8M.
$7.8 million warrant exercise provided capital through mid-2026, supporting regulatory payments.
Cash provided by financing activities in the nine months was $23.4M, mainly from equity and warrant issuances.
Outlook and guidance
Management expects gross margins to expand as revenues increase, with a higher mix of e-commerce and higher-margin wholesale accounts.
BLA and MAA filings for OST-HER2 planned for January 2026, with product launch delayed to 2027.
The company believes it has sufficient capital to meet obligations for the next 12 months, alleviating substantial doubt about going concern.
2026 revenue expected from PRV sale; 2027 revenue to include US, UK, and EU product sales.
Anticipates offsetting wholesale revenue declines with expansion in key accounts and increased marketing spend.
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Next Digital Brands Group earnings date
Q4 202510 Apr, 2026
Next Digital Brands Group earnings date
Q4 202510 Apr, 2026
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Frequently asked questions
Digital Brands Group Inc. is a fashion retail company that operates a portfolio of direct-to-consumer apparel brands. The company focuses on offering a variety of clothing and accessories, catering to different market segments through its diverse brand lineup. Its brands emphasize quality, design, and affordability, with a business model centered around e-commerce and digital marketing to engage customers. Digital Brands Group aims to integrate its operations across its portfolio, leveraging shared resources to optimize marketing, supply chain, and customer experience. The company is headquartered in Austin, Texas, and its shares are listed on the NASDAQ.
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