Digi International Says Customers Are More Cautious On Second Half Demand Than It Previously Expected; Now Sees FY24 Revenue Projection To Be Down 5% Y/Y (Prior View: Flat)

This is demonstrated through longer than expected sales cycles which lowers top line expectations. The softer top line expectations combined with tight expense controls slightly lowers Adjusted EBITDA ranges to 0 to 5%, with revenue projection to be down 5% year over year.