• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Digi International Reports Fourth Fiscal Quarter and Full Fiscal 2024 Results

    11/13/24 4:05:00 PM ET
    $DGII
    Computer Communications Equipment
    Telecommunications
    Get the next $DGII alert in real time by email

    Annual Revenue of $424M, Record End of Quarter ARR of $116M

    Full Year Cash Flow From Operations of $83M

    Digi International® Inc. (NASDAQ:DGII), a leading global provider of business and mission critical Internet of Things ("IoT") products, services and solutions, today announced its financial results for its fourth fiscal quarter ended September 30, 2024.

    Fourth Fiscal Quarter 2024 Results Compared to Fourth Fiscal Quarter 2023 Results

    • Revenue was $105 million, a decrease of 6%.
    • Gross profit margin was 61.1%, an increase of 400 basis points.
    • Net income was $12 million, compared to $6 million.
    • Net income per diluted share was $0.32, compared to $0.17.
    • Adjusted net income per diluted share was $0.52, flat year over year.
    • Adjusted EBITDA was $26 million, an increase of 5%.
    • Annualized Recurring Revenue (ARR) was $116 million at quarter end, an increase of 9%.

    Full Year Fiscal 2024 Results Compared to Full Year Fiscal 2023 Results

    • Revenue was $424 million, a decrease of 5%.
    • Gross profit margin was 58.9%, an increase of 220 basis points.
    • Net income was $23 million, compared to $25 million.
    • Net income per diluted share was $0.61, compared to $0.67.
    • Adjusted net income per diluted share was $1.99, flat year over year.
    • Adjusted EBITDA was $98 million, an increase of 2%.

    Reconciliations of non-GAAP financial measures to their closest GAAP analogues appear at the end of this release.

    "The Digi team delivered an impressive fiscal 2024 performance in soft industrial economic conditions. As the market seeks to gain increased efficiencies, our customers increasingly appreciate entrusting their value-added IoT solutions to Digi, as evidenced by our record ARR which represents approximately 27% of revenues," stated Ron Konezny, President and CEO. "We continue to hit our objectives as we make the discovery of our solutions easier for the channel and end users with the advent of offerings like Digi 360. In addition, we lowered inventory levels, generated cash and paid down debt to strengthen our balance sheet. We remain confident in our customer centric solutions strategy and the long-term opportunity for Digi."

    Additional Financial Highlights

    • We made payments against our revolving credit facility, reducing our net outstanding debt to $123.2 million at quarter end, with a cash and cash equivalents balance of $27.5 million resulting in a debt net of cash and cash equivalents of $95.7 million.
    • We had $2.8 million of interest expense in the fourth quarter of fiscal 2024, compared to $6.3 million a year ago. The decrease was driven by decreased debt outstanding and a reduction of our effective interest rate.
    • Cash flow from operations was $26 million in the fourth quarter of fiscal 2024, compared to $9 million a year ago, driven by year over year changes in inventory.
    • Net inventory ended the quarter at $53 million, compared to $74 million at September 30, 2023, reflecting continued efforts to manage inventory levels.

    Segment Results

    IoT Product & Services

    The segment's fourth fiscal quarter 2024 revenue of $79.0 million decreased $9.1 million, as compared to the same period in the prior fiscal year. This decrease consisted of a $9.6 million decrease in one-time sales, with no material impact from pricing, partially offset by $0.5 million of service revenue growth. ARR as of the end of the fourth fiscal quarter was $24 million, an increase of 9% from the prior fiscal year. This increase was driven by growth in the subscription base across remote management platforms and extended warranty offerings. Gross profit margin increased 270 basis points to 56.7% of revenue for the fourth fiscal quarter of 2024, driven by favorable mix in one-time sales partially offset by higher inventory adjustments.

    The segment's fiscal 2024 revenue of $324.4 million decreased $21.2 million, as compared to the prior fiscal year. This decrease consisted of a $24.7 million decline in product sales volume, with no material impact from pricing, partially offset by $3.5 million of service revenue growth. Gross profit margin increased 20 basis points to 54.6% of revenue for fiscal 2024, driven by increased recurring revenue at high margin rates and by a reduction in inventory adjustments and reduced inflationary pressures, partially offset by decreased product volume.

    IoT Solutions

    The segment's fourth fiscal quarter 2024 revenue of $26.0 million increased $1.9 million, as compared to the same period in the prior fiscal year, consisting of a $2.3 million increase in recurring revenue, partially offset by a $0.4 million decrease in one-time services volume. ARR as of the end of the fourth fiscal quarter was $92 million, an increase of 10% from the prior fiscal year driven by growth in both SmartSense and Ventus. Gross profit margins increased 660 basis points to 74.7% in the fourth fiscal quarter of 2024. This increase was the result of growth in higher margin ARR subscription revenues and a more favorable mix in hardware sales.

    The segment's fiscal 2024 revenue of $99.6 million increased $0.4 million, as compared to the same period in the prior fiscal year, consisting of a $5.6 million increase in recurring revenue offset by a $3.2 million decrease in one time services volume and a $1.9 million decrease in hardware sales. Gross profit margins increased 820 basis points to 73.0% in fiscal 2024. This increase was the result of growth in higher margin ARR subscription revenues, a more favorable mix within one time volume and a reduction in inventory adjustments.

    Capital Allocation Strategy

    We intend to deleverage the company while seeking optimal inventory levels as our supply chain continues to normalize, as demonstrated by the decline in our inventory balance.

    Acquisitions remain a top capital priority for Digi. We will be disciplined in our approach and act when we believe an opportunity is appropriate to execute in the context of prevailing market conditions. We are evolving and monitoring our acquisition pipeline, and we intend to focus more on scale and ARR.

    First Fiscal Quarter 2025 Guidance

    ARR, our highest priority, creates value in providing solutions for our customers to achieve their critical priorities. Resilient execution in a large and growing Industrial Internet of Things market provides confidence we will grow ARR and Adjusted EBITDA to $200 million within the next four years on an organic basis. Potential acquisitions are also focused on these metrics, which could help Digi reach these milestones even earlier.

    The longer-term demand for Digi offerings remain strong, however global macroeconomic headwinds, particularly in industrial markets, continue to persist (for example, PMI has contracted for 23 out of the past 24 months). While time to close deals has stabilized, it is extended compared to historical measures. Our outlook for fiscal 2025 projects our ARR to grow approximately 10%, while our revenue and Adjusted EBITDA projects to be flat year over year.

    For the first fiscal quarter, revenues are estimated to be $102 million to $106 million. Adjusted EBITDA is estimated to be between $24.0 million and $25.5 million. Adjusted net income per share is anticipated to be between $0.46 and $0.50 per diluted share, assuming a weighted averaged diluted share count of 37.7 million shares.

    We provide guidance or longer-term targets for Adjusted net income per share as well as Adjusted EBITDA targets on a non-GAAP basis. We do not reconcile these items to their most similar U.S. GAAP measure as it is difficult to predict without unreasonable efforts numerous items that include but are not limited to the impact of foreign exchange translation, restructuring, interest and certain tax related events. Given the uncertainty, any of these items could have a significant impact on U.S. GAAP results.

    Fourth Fiscal Quarter 2024 Conference Call Details

    As announced on October 9, 2024, Digi will discuss its fourth fiscal quarter and full fiscal 2024 results on a conference call on Wednesday, November 13, 2024 at approximately 5:00 p.m. ET (4:00 p.m. CT). The call will be hosted by Ron Konezny, President and Chief Executive Officer and Jamie Loch, Chief Financial Officer.

    Participants may register for the conference call at: https://register.vevent.com/register/BI4d808c677dda40478308d7c69fad9b11. Once registration is completed, participants will be provided a dial-in number and passcode to access the call. All participants are asked to dial-in 15 minutes prior to the start time.

    Participants may access a live webcast of the conference call through the investor relations section of Digi's website, https://digi.gcs-web.com/ or the hosting website at: https://edge.media-server.com/mmc/p/v95i4oya/.

    A replay will be available within approximately two hours after the completion of the call for approximately one year. You may access the replay via webcast through the investor relations section of Digi's website.

    A copy of this earnings release can be accessed through the financial releases page of the investor relations section of Digi's website at www.digi.com.

    For more news and information on us, please visit www.digi.com/aboutus/investorrelations.

    About Digi International

    Digi International (NASDAQ:DGII) is a leading global provider of IoT connectivity products, services and solutions. We help our customers create next-generation connected products and deploy and manage critical communications infrastructures in demanding environments with high levels of security and reliability. Founded in 1985, we've helped our customers connect over 100 million things and growing. For more information, visit Digi's website at www.digi.com.

    Forward-Looking Statements

    This press release contains forward-looking statements that are based on management's current expectations and assumptions. These statements often can be identified by the use of forward-looking terminology such as "assume," "believe," "continue," "estimate," "expect," "intend," "may," "plan," "potential," "project," "should," or "will" or the negative thereof or other variations thereon or similar terminology. Among other items, these statements relate to expectations of the business environment in which Digi operates, projections of future performance, inventory levels, perceived marketplace opportunities, debt repayments, attributions of potential acquisitions and statements regarding our mission and vision. Such statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions. Among others, these include risks related to ongoing and varying inflationary and deflationary pressures around the world and the monetary policies of governments globally as well as present and ongoing concerns about a potential recession, the ability of companies like us to operate a global business in such conditions as well as negative effects on product demand and the financial solvency of customers and suppliers in such conditions, risks related to ongoing supply chain challenges that continue to impact businesses globally, risks related to cybersecurity, risks arising from the present wars in Ukraine and the Middle East, the highly competitive market in which our company operates, rapid changes in technologies that may displace products sold by us, declining prices of networking products, our reliance on distributors and other third parties to sell our products, the potential for significant purchase orders to be canceled or changed, delays in product development efforts, uncertainty in user acceptance of our products, the ability to integrate our products and services with those of other parties in a commercially accepted manner, potential liabilities that can arise if any of our products have design or manufacturing defects, our ability to integrate and realize the expected benefits of acquisitions, our ability to defend or settle satisfactorily any litigation, the impact of natural disasters and other events beyond our control that could negatively impact our supply chain and customers, potential unintended consequences associated with restructuring, reorganizations or other similar business initiatives that may impact our ability to retain important employees or otherwise impact our operations in unintended and adverse ways, and changes in our level of revenue or profitability which can fluctuate for many reasons beyond our control. These and other risks, uncertainties and assumptions identified from time to time in our filings with the United States Securities and Exchange Commission, including without limitation, those set forth in Item 1A, Risk Factors, of our Annual Report on Form 10-K for the year ended September 30, 2023, subsequent filings on Form 10-Q and other filings, could cause our actual results to differ materially from those expressed in any forward-looking statements made by us or on our behalf. Many of such factors are beyond our ability to control or predict. These forward-looking statements speak only as of the date for which they are made. We disclaim any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

    Presentation of Non-GAAP Financial Measures

    This release includes adjusted net income, adjusted net income per diluted share and Adjusted EBITDA, each of which is a non-GAAP measure.

    We understand that there are material limitations on the use of non-GAAP measures. Non-GAAP measures are not substitutes for GAAP measures, such as net income, for the purpose of analyzing financial performance. The disclosure of these measures does not reflect all charges and gains that were actually recognized by Digi. These non-GAAP measures are not in accordance with, or an alternative for measures prepared in accordance with, generally accepted accounting principles and may be different from non-GAAP measures used by other companies or presented by us in prior reports. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. We believe that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP. We believe these measures should only be used to evaluate our results of operations in conjunction with the corresponding GAAP measures. Additionally, Adjusted EBITDA does not reflect our cash expenditures, the cash requirements for the replacement of depreciated and amortized assets, or changes in or cash requirements for our working capital needs.

    We believe that providing historical and adjusted net income and adjusted net income per diluted share, respectively, exclusive of such items as reversals of tax reserves, discrete tax benefits, restructuring charges and reversals, intangible amortization, stock-based compensation, other non-operating income/expense, changes in fair value of contingent consideration, acquisition-related expenses and interest expense related to acquisitions permits investors to compare results with prior periods that did not include these items. Management uses the aforementioned non-GAAP measures to monitor and evaluate ongoing operating results and trends and to gain an understanding of our comparative operating performance. In addition, certain of our stockholders have expressed an interest in seeing financial performance measures exclusive of the impact of these matters, which while important, are not central to the core operations of our business. Management believes that Adjusted EBITDA, defined as EBITDA adjusted for stock-based compensation expense, acquisition-related expenses, restructuring charges and reversals, and changes in fair value of contingent consideration, is useful to investors to evaluate our core operating results and financial performance because it excludes items that are significant non-cash or non-recurring items reflected in the Condensed Consolidated Statements of Operations. We believe that the presentation of Adjusted EBITDA as a percentage of revenue is useful because it provides a reliable and consistent approach to measuring our performance from year to year and in assessing our performance against that of other companies. We believe this information helps compare operating results and corporate performance exclusive of the impact of our capital structure and the method by which assets were acquired.

    Digi International Inc.

    Condensed Consolidated Statements of Operations

    (In thousands, except per share amounts)

    (Unaudited)

     

     

    Three months ended September 30,

     

    Year ended September 30,

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

    Revenue

    $

    105,052

     

     

    $

    112,163

     

     

    $

    424,046

     

     

    $

    444,849

     

    Cost of sales

     

    40,822

     

     

     

    48,172

     

     

     

    174,140

     

     

     

    192,646

     

    Gross profit

     

    64,230

     

     

     

    63,991

     

     

     

    249,906

     

     

     

    252,203

     

    Operating expenses:

     

     

     

     

     

     

     

    Sales and marketing

     

    21,590

     

     

     

    21,260

     

     

     

    83,278

     

     

     

    81,681

     

    Research and development

     

    15,480

     

     

     

    14,454

     

     

     

    60,289

     

     

     

    58,648

     

    General and administrative

     

    12,263

     

     

     

    14,796

     

     

     

    58,250

     

     

     

    61,779

     

    Operating expenses

     

    49,333

     

     

     

    50,510

     

     

     

    201,817

     

     

     

    202,108

     

    Operating income

     

    14,897

     

     

     

    13,481

     

     

     

    48,089

     

     

     

    50,095

     

    Other expense, net

     

    (2,845

    )

     

     

    (6,289

    )

     

     

    (25,231

    )

     

     

    (25,177

    )

    Income before income taxes

     

    12,052

     

     

     

    7,192

     

     

     

    22,858

     

     

     

    24,918

     

    Income tax provision

     

    189

     

     

     

    827

     

     

     

    353

     

     

     

    148

     

    Net income

    $

    11,863

     

     

    $

    6,365

     

     

    $

    22,505

     

     

    $

    24,770

     

     

     

     

     

     

     

     

     

    Net income per common share:

     

     

     

     

     

     

     

    Basic

    $

    0.33

     

     

    $

    0.18

     

     

    $

    0.62

     

     

    $

    0.69

     

    Diluted

    $

    0.32

     

     

    $

    0.17

     

     

    $

    0.61

     

     

    $

    0.67

     

    Weighted average common shares:

     

     

     

     

     

     

     

    Basic

     

    36,463

     

     

     

    36,000

     

     

     

    36,316

     

     

     

    35,820

     

    Diluted

     

    37,134

     

     

     

    36,931

     

     

     

    36,984

     

     

     

    36,869

     

    Digi International Inc.

    Condensed Consolidated Balance Sheets

    (In thousands)

    (Unaudited)

     

     

    September 30,

    2024

     

    September 30,

    2023

    ASSETS

     

     

     

    Current assets:

     

     

     

    Cash and cash equivalents

    $

    27,510

     

    $

    31,693

    Accounts receivable, net

     

    69,640

     

     

    55,997

    Inventories

     

    53,357

     

     

    74,396

    Other current assets

     

    3,940

     

     

    4,112

    Total current assets

     

    154,447

     

     

    166,198

    Non-current assets

     

    660,628

     

     

    669,333

    Total assets

    $

    815,075

     

    $

    835,531

    LIABILITIES AND STOCKHOLDERS' EQUITY

     

     

     

    Current liabilities:

     

     

     

    Current portion of long-term debt

    $

    —

     

    $

    15,523

    Accounts payable

     

    23,759

     

     

    17,148

    Other current liabilities

     

    65,578

     

     

    53,307

    Total current liabilities

     

    89,337

     

     

    85,978

    Long-term debt

     

    123,185

     

     

    188,051

    Other non-current liabilities

     

    21,518

     

     

    21,014

    Non-current liabilities

     

    144,703

     

     

    209,065

    Total liabilities

     

    234,040

     

     

    295,043

    Total stockholders' equity

     

    581,035

     

     

    540,488

    Total liabilities and stockholders' equity

    $

    815,075

     

    $

    835,531

    Digi International Inc.

    Condensed Consolidated Statements of Cash Flows

    (In thousands)

    (Unaudited)

     

    Year ended September 30,

     

     

    2024

     

     

     

    2023

     

    Net cash provided by operating activities

    $

    83,092

     

     

    $

    36,751

     

    Net cash provided by (used in) investing activities

     

    3

     

     

     

    (4,345

    )

    Net cash used in financing activities

     

    (89,048

    )

     

     

    (34,500

    )

    Effect of exchange rate changes on cash and cash equivalents

     

    1,770

     

     

     

    (1,113

    )

    Net decrease in cash and cash equivalents

     

    (4,183

    )

     

     

    (3,207

    )

    Cash and cash equivalents, beginning of period

     

    31,693

     

     

     

    34,900

     

    Cash and cash equivalents, end of period

    $

    27,510

     

     

    $

    31,693

     

    Non-GAAP Financial Measures

    TABLE 1

    Reconciliation of Net Income to Adjusted EBITDA

    (In thousands)

     

     

    Three months ended September 30,

     

    Year ended September 30,

     

    2024

     

    2023

     

    2024

     

    2023

     

     

     

    % of total

    revenue

     

     

     

    % of total

    revenue

     

     

     

    % of total

    revenue

     

     

     

    % of total

    revenue

    Total revenue

    $

    105,052

     

     

    100.0

    %

     

    $

    112,163

     

    100.0

    %

     

    $

    424,046

     

     

    100.0

    %

     

    $

    444,849

     

    100.0

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Net income

    $

    11,863

     

     

     

     

    $

    6,365

     

     

     

    $

    22,505

     

     

     

     

    $

    24,770

     

     

    Interest expense, net

     

    2,823

     

     

     

     

     

    6,269

     

     

     

     

    15,415

     

     

     

     

     

    25,236

     

     

    Debt issuance cost write off

     

    —

     

     

     

     

     

    —

     

     

     

     

    9,722

     

     

     

     

     

    —

     

     

    Income tax provision

     

    189

     

     

     

     

     

    827

     

     

     

     

    353

     

     

     

     

     

    148

     

     

    Depreciation and amortization

     

    8,648

     

     

     

     

     

    8,016

     

     

     

     

    33,064

     

     

     

     

     

    31,979

     

     

    Stock-based compensation expense

     

    3,066

     

     

     

     

     

    3,434

     

     

     

     

    13,159

     

     

     

     

     

    13,286

     

     

    Litigation (reversal) accrual

     

    (553

    )

     

     

     

     

    —

     

     

     

     

    5,700

     

     

     

     

     

    —

     

     

    Gain on asset sale

     

    —

     

     

     

     

     

    —

     

     

     

     

    (2,111

    )

     

     

     

     

    —

     

     

    Restructuring charge

     

    284

     

     

     

     

     

    —

     

     

     

     

    430

     

     

     

     

     

    141

     

     

    Acquisition expense, net

     

    (66

    )

     

     

     

     

    30

     

     

     

     

    (127

    )

     

     

     

     

    940

     

     

    Adjusted EBITDA

    $

    26,254

     

     

    25.0

    %

     

    $

    24,941

     

    22.2

    %

     

    $

    98,110

     

     

    23.1

    %

     

    $

    96,500

     

    21.7

    %

    TABLE 2

    Reconciliation of Net Income and Net Income per Diluted Share to

    Adjusted Net Income and Adjusted Net Income per Diluted Share

    (In thousands, except per share amounts)

     

     

    Three months ended September 30,

     

    Year ended September 30,

     

    2024

     

    2023

     

    2024

     

    2023

    Net income and net income per diluted share

    $

    11,863

     

     

    $

    0.32

     

     

    $

    6,365

     

     

    $

    0.17

     

     

    $

    22,505

     

     

    $

    0.61

     

     

    $

    24,770

     

     

    $

    0.67

     

    Amortization

     

    6,113

     

     

     

    0.16

     

     

     

    6,260

     

     

     

    0.17

     

     

     

    24,552

     

     

     

    0.66

     

     

     

    25,226

     

     

     

    0.68

     

    Stock-based compensation expense

     

    3,066

     

     

     

    0.08

     

     

     

    3,434

     

     

     

    0.09

     

     

     

    13,159

     

     

     

    0.36

     

     

     

    13,286

     

     

     

    0.36

     

    Other non-operating expense (income)

     

    22

     

     

     

    —

     

     

     

    20

     

     

     

    —

     

     

     

    94

     

     

     

    —

     

     

     

    (59

    )

     

     

    —

     

    Acquisition expense, net

     

    (66

    )

     

     

    —

     

     

     

    30

     

     

     

    —

     

     

     

    (127

    )

     

     

    —

     

     

     

    940

     

     

     

    0.03

     

    Litigation (reversal) accrual

     

    (553

    )

     

     

    (0.01

    )

     

     

    —

     

     

     

    —

     

     

     

    5,700

     

     

     

    0.15

     

     

     

    —

     

     

     

    —

     

    Gain on asset sale

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (2,111

    )

     

     

    (0.06

    )

     

     

    —

     

     

     

    —

     

    Restructuring charge

     

    284

     

     

     

    0.01

     

     

     

    —

     

     

     

    —

     

     

     

    430

     

     

     

    0.01

     

     

     

    141

     

     

     

    —

     

    Interest expense, net

     

    2,823

     

     

     

    0.08

     

     

     

    6,269

     

     

     

    0.17

     

     

     

    15,415

     

     

     

    0.42

     

     

     

    25,236

     

     

     

    0.68

     

    Debt issuance cost write off

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    9,722

     

     

     

    0.26

     

     

     

    —

     

     

     

    —

     

    Tax effect from the above adjustments (1)

     

    (4,619

    )

     

     

    (0.13

    )

     

     

    (2,968

    )

     

     

    (0.07

    )

     

     

    (17,005

    )

     

     

    (0.45

    )

     

     

    (18,488

    )

     

     

    (0.50

    )

    Discrete tax expenses (benefits) (2)

     

    533

     

     

     

    0.01

     

     

     

    (384

    )

     

     

    (0.01

    )

     

     

    1,212

     

     

     

    0.03

     

     

     

    2,490

     

     

     

    0.07

     

    Adjusted net income and adjusted net income per diluted share (3)

    $

    19,466

     

     

    $

    0.52

     

     

    $

    19,026

     

     

    $

    0.52

     

     

    $

    73,546

     

     

    $

    1.99

     

     

    $

    73,542

     

     

    $

    1.99

     

    Diluted weighted average common shares

     

     

     

    37,134

     

     

     

     

     

    36,931

     

     

     

     

     

    36,984

     

     

     

     

     

    36,869

     

    (1)

    The tax effect from the above adjustments assumes an estimated effective tax rate of 18.0% for fiscal 2024 and 2023 based on adjusted net income.

    (2)

    For the three and twelve months ended September 30, 2024 and 2023 discrete tax expenses (benefits) are a result of changes in excess tax benefits recognized on stock compensation.

    (3)

    Adjusted net income per diluted share may not add due to the use of rounded numbers.

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20241113070578/en/

    Get the next $DGII alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $DGII

    DatePrice TargetRatingAnalyst
    11/14/2024$28.00 → $32.00Buy → Hold
    Craig Hallum
    5/22/2024$35.00 → $29.00Overweight → Neutral
    Piper Sandler
    11/15/2023$34.00Buy
    B. Riley Securities
    9/8/2022$41.00Overweight
    Cantor Fitzgerald
    6/2/2022$36.00Overweight
    Stephens
    8/5/2021$29.00 → $28.00Buy
    Roth Capital
    More analyst ratings

    $DGII
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Digi International Reports Second Fiscal Quarter 2025 Results

      Growing Profit Margins, Cash Flow from Operations of $26M Revenue of $105M, Record End of Quarter ARR of $123M Digi International Inc. ("Digi" or the "Company") (NASDAQ:DGII), a leading global provider of business and mission critical Internet of Things ("IoT") products, services and solutions, today announced its financial results for its second fiscal quarter ended March 31, 2025. Second Fiscal Quarter 2025 Results Compared to Second Fiscal Quarter 2024 Results Revenue was $105 million, a decrease of 3%. Gross profit margin was 62.1%, an increase of 420 basis points. Net income was $10 million, compared to $4 million. Net income per diluted share was $0.28, compared to $0.11

      5/7/25 4:05:00 PM ET
      $DGII
      Computer Communications Equipment
      Telecommunications
    • Digi Unveils MQTT for Digi Connect Sensor XRT-M to Transform IIoT Data Integration

      Delivers low-latency, standards-based MQTT integration for scalable IIoT deployments across water, energy and industrial automation sectors Digi International®, (NASDAQ:DGII), a global leader in Internet of Things (IoT) connectivity solutions, today announced the release of MQTT for Digi Connect® Sensor XRT-M, designed for water and wastewater management, oil and gas, and industrial automation applications. MQTT for the Digi Connect Sensor XRT-M is available now. Organizations seeking to simplify and accelerate their IIoT sensor connectivity can contact Digi Sales to schedule a demo and experience the future of industrial data integration firsthand. This press release features multimedia.

      5/6/25 9:00:00 AM ET
      $DGII
      Computer Communications Equipment
      Telecommunications
    • Digi International Announces 2025 Green Tech Customer Innovation Award Winners

      Honoring industry leaders using IoT innovation to advance environmental responsibility and sustainable practices Digi International, (NASDAQ:DGII, www.digi.com)), a leading global provider of Internet of Things (IoT) connectivity products and services, proudly announces the winners of its 2025 Green Tech Customer Innovation Awards. Now in its fifth year, this prestigious award program honors companies and organizations that have demonstrated exceptional innovation and leadership in integrating Digi technology to drive sustainability and carbon reduction initiatives. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250417528695/en/

      4/17/25 9:00:00 AM ET
      $DGII
      Computer Communications Equipment
      Telecommunications

    $DGII
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Digi Intl downgraded by Craig Hallum with a new price target

      Craig Hallum downgraded Digi Intl from Buy to Hold and set a new price target of $32.00 from $28.00 previously

      11/14/24 8:22:32 AM ET
      $DGII
      Computer Communications Equipment
      Telecommunications
    • Digi Intl downgraded by Piper Sandler with a new price target

      Piper Sandler downgraded Digi Intl from Overweight to Neutral and set a new price target of $29.00 from $35.00 previously

      5/22/24 7:25:09 AM ET
      $DGII
      Computer Communications Equipment
      Telecommunications
    • B. Riley Securities initiated coverage on Digi Intl with a new price target

      B. Riley Securities initiated coverage of Digi Intl with a rating of Buy and set a new price target of $34.00

      11/15/23 9:11:47 AM ET
      $DGII
      Computer Communications Equipment
      Telecommunications

    $DGII
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by Digi International Inc.

      SC 13G/A - DIGI INTERNATIONAL INC (0000854775) (Subject)

      9/10/24 5:30:22 PM ET
      $DGII
      Computer Communications Equipment
      Telecommunications
    • SEC Form SC 13G/A filed by Digi International Inc. (Amendment)

      SC 13G/A - DIGI INTERNATIONAL INC (0000854775) (Subject)

      5/10/24 2:52:31 PM ET
      $DGII
      Computer Communications Equipment
      Telecommunications
    • SEC Form SC 13G filed by Digi International Inc.

      SC 13G - DIGI INTERNATIONAL INC (0000854775) (Subject)

      2/14/24 1:08:25 PM ET
      $DGII
      Computer Communications Equipment
      Telecommunications

    $DGII
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • VP, Chief Information Officer Freeland James E. covered exercise/tax liability with 541 shares, decreasing direct ownership by 4% to 13,083 units (SEC Form 4)

      4 - DIGI INTERNATIONAL INC (0000854775) (Issuer)

      5/8/25 9:55:05 PM ET
      $DGII
      Computer Communications Equipment
      Telecommunications
    • PRESIDENT AND CEO Konezny Ronald exercised 209,918 shares at a strike of $17.51, increasing direct ownership by 57% to 579,853 units (SEC Form 4)

      4 - DIGI INTERNATIONAL INC (0000854775) (Issuer)

      2/25/25 4:41:26 PM ET
      $DGII
      Computer Communications Equipment
      Telecommunications
    • Director Heim Christopher was granted 3,977 shares, increasing direct ownership by 8% to 56,522 units (SEC Form 4)

      4 - DIGI INTERNATIONAL INC (0000854775) (Issuer)

      2/12/25 7:56:48 PM ET
      $DGII
      Computer Communications Equipment
      Telecommunications

    $DGII
    Financials

    Live finance-specific insights

    See more
    • Digi International Reports Second Fiscal Quarter 2025 Results

      Growing Profit Margins, Cash Flow from Operations of $26M Revenue of $105M, Record End of Quarter ARR of $123M Digi International Inc. ("Digi" or the "Company") (NASDAQ:DGII), a leading global provider of business and mission critical Internet of Things ("IoT") products, services and solutions, today announced its financial results for its second fiscal quarter ended March 31, 2025. Second Fiscal Quarter 2025 Results Compared to Second Fiscal Quarter 2024 Results Revenue was $105 million, a decrease of 3%. Gross profit margin was 62.1%, an increase of 420 basis points. Net income was $10 million, compared to $4 million. Net income per diluted share was $0.28, compared to $0.11

      5/7/25 4:05:00 PM ET
      $DGII
      Computer Communications Equipment
      Telecommunications
    • Digi International to Release Second Fiscal Quarter 2025 Earnings Results and Host a Conference Call on May 7, 2025

        Digi International® Inc. (NASDAQ:DGII) will release its financial results for the second fiscal quarter 2025 on Wednesday, May 7, after market close, at approximately 4:00 p.m. ET. Ron Konezny, CEO, and Jamie Loch, CFO, will host a conference call later the same day, at 5:00 p.m. ET, to briefly discuss the results and will take questions and provide answers. Please click here to pre-register for the conference call and obtain your dial in number and passcode. All participants are asked to dial-in 15 minutes prior to the start time. Participants may access a live webcast of the conference call through the investor relations section of Digi's website, https://digi.gcs-web.com/ or the hos

      4/14/25 4:05:00 PM ET
      $DGII
      Computer Communications Equipment
      Telecommunications
    • Digi International Reports First Fiscal Quarter 2025 Results

      Revenue of $104M, Record End of Quarter ARR of $120M Cash Flow From Operations of $30M Digi International® Inc. (NASDAQ:DGII), a leading global provider of business and mission critical Internet of Things ("IoT") products, services and solutions, today announced its financial results for its first fiscal quarter ended December 31, 2024. First Fiscal Quarter 2025 Results Compared to First Fiscal Quarter 2024 Results Revenue was $104 million, a decrease of 2%. Gross profit margin was 62.0%, an increase of 440 basis points. Net income was $10 million, compared to a net loss of $3 million. Net income per diluted share was $0.27, compared to a net loss per diluted share of $0.0

      2/5/25 4:05:00 PM ET
      $DGII
      Computer Communications Equipment
      Telecommunications

    $DGII
    SEC Filings

    See more
    • SEC Form S-8 filed by Digi International Inc.

      S-8 - DIGI INTERNATIONAL INC (0000854775) (Filer)

      5/8/25 4:07:04 PM ET
      $DGII
      Computer Communications Equipment
      Telecommunications
    • SEC Form 10-Q filed by Digi International Inc.

      10-Q - DIGI INTERNATIONAL INC (0000854775) (Filer)

      5/7/25 4:10:46 PM ET
      $DGII
      Computer Communications Equipment
      Telecommunications
    • Digi International Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - DIGI INTERNATIONAL INC (0000854775) (Filer)

      5/7/25 4:08:31 PM ET
      $DGII
      Computer Communications Equipment
      Telecommunications

    $DGII
    Leadership Updates

    Live Leadership Updates

    See more
    • SmartSense Appoints Stefanie Miller to Food Service Advisory Board

      Strategic industry leader to provide enhanced guidance for innovative CPG practices for quality and safety SmartSense by Digi®, part of Digi International (NASDAQ:DGII, www.digi.com)) and a leading global provider of Internet of Things (IoT) connectivity solutions, today announced the appointment of Stefanie Miller, Managing Director of Category Strategy and Growth at Kellanova Europe, to its Food Service Advisory Board, which focuses on consumer packaged goods (CPG) safety. Miller joins a distinguished group of leaders from Giant Eagle, Inc., Schnuck Markets, Inc., NewRoad Capital Partners, Nutrition Core Solutions, and Clipper Advisory Group. This press release features multimedia. Vie

      1/6/25 9:00:00 AM ET
      $DGII
      Computer Communications Equipment
      Telecommunications
    • Digi International Appoints TOPAS as a European Distributor for its Embedded Products Portfolio

      Agreement includes Germany, Switzerland & Austria Digi International® (NASDAQ:DGII, www.digi.com))), a leading global provider of Internet of Things (IoT) connectivity products and services, has appointed TOPAS electronic AG (TOPAS) as its distributor in Germany, Switzerland and Austria. Under the terms of the agreement, Digi ConnectCore® system on modules (SOM), Digi XBee® RF modules, Digi Connect® ME, NetSilicon & Rabbit® semiconductor product portfolios will be available, complemented by the wide range of support services offered by TOPAS (www.topas.de). Digi provides embedded solutions, integrating hardware and software to bring IoT connectivity to meet the mission-critical connectivi

      10/26/21 3:00:00 AM ET
      $DGII
      Computer Communications Equipment
      Telecommunications