Welcome to our dedicated page for Digi International news (Ticker: DGII), a resource for investors and traders seeking the latest updates and insights on Digi International stock.
Digi International Inc. (DGII) is a leading global provider specializing in machine-to-machine (M2M) and Internet of Things (IoT) connectivity products and services. Headquartered in Minnesota, Digi International has been a cornerstone in the field since its foundation in 1985. The company is committed to helping customers create next-generation connected products and manage critical communications infrastructures in demanding environments.
Digi International operates through two primary segments: IoT Products and Services and IoT Solutions. The IoT Products and Services segment focuses on delivering distinct communications products and communication product development services. This includes embedded modules, off-the-shelf routers, gateways, and network products that are known for their relentless reliability and exceptional performance and security.
The IoT Solutions segment caters to different needs by offering wireless temperature and environmental condition monitoring services, as well as employee task management services. This allows customers to efficiently manage their connected products and assets across a broad range of mission-critical industry applications.
Over the years, Digi International has successfully connected over 100 million devices, showcasing its extensive experience and capability in the field. The company's cloud-based software and professional services are designed to enhance the operational efficiency of its clients' connected assets. Digi's product offerings are aimed at industries that require high levels of reliability and security in their communication networks.
Geographically, Digi International generates a significant portion of its revenue from its operations in the United States. Additionally, the company has a notable presence in Europe, the Middle East, Africa, and other parts of the world. This broad geographical footprint allows Digi to serve a diverse range of customers and industries globally.
Recent Achievements and Current Projects:
- Continued expansion of IoT connectivity solutions to meet the evolving needs of various industries.
- Development of new embedded modules and off-the-shelf routers to enhance communication reliability and security.
- Investments in cloud-based software to provide better data management and analytics capabilities for clients.
- Strategic partnerships with key technology providers to drive innovation and deliver comprehensive solutions.
Whether it's through their industry-leading products or their commitment to customer success, Digi International Inc. remains at the forefront of M2M and IoT innovations.
Digi International (DGII) has nominated two new members to its Board of Directors: Valerie Heusinkveld and Allison West Hughes. The election will be voted on at the company's annual meeting on February 3, 2025. Heusinkveld, former CFO of Cradlepoint, brings extensive financial and operational expertise in high-tech industries. West Hughes, currently Corporate Vice President at Microsoft, contributes significant experience in digital sales and marketing, particularly in subscription-based offerings.
The nominations coincide with the announced retirement of Sally Smith, who has served as director since 2018. The board changes reflect Digi's focus on expanding recurring revenue-based solutions and strengthening its position in the IoT space.
Digi International (DGII) reported its Q4 and full fiscal 2024 results with annual revenue of $424 million, representing a 5% decrease from 2023. The company achieved record end-of-quarter Annualized Recurring Revenue (ARR) of $116 million, up 9% year-over-year. Q4 revenue was $105 million, down 6%, while gross profit margin improved to 61.1%. Net income for Q4 increased to $12 million ($0.32 per share) from $6 million ($0.17 per share) in the previous year. The company generated strong cash flow from operations of $83 million for the full year and reduced its net debt to $95.7 million.
Digi International (NASDAQ: DGII) announced that its Digi Connect Sensor XRT-M, powered by Digi Axess, has received official certification for use on the T-Mobile network. The device, designed for precision agriculture, municipal water utilities, mining, and industrial gas and chemical sectors, offers cloud-based control for remote monitoring applications. The solution integrates with the Digi Axess management platform, featuring an intuitive interface for streamlined data management and enhanced operational efficiency. The T-Mobile-certified device is now available for immediate purchase.
SmartSense by Digi (NASDAQ: DGII) has achieved SOC 2 Type II certification, demonstrating its commitment to data security and protection. The certification follows a year-long review of security policies and establishes continuous monitoring systems. The company, which provides IoT connectivity solutions, maintains multiple compliance certifications including ISO 9001 and supports GxP environments. This achievement particularly benefits customers in regulated industries by removing internal approval friction and accelerating ROI.
Digi International (NASDAQ: DGII) has joined T-Mobile's Partner Plus channel subsidy program, offering its EX50 5G, TX40 5G, and IX40 5G cellular routers at reduced prices through distributors TD SYNNEX and Ingram Micro. This collaboration aims to make 5G adoption more accessible and affordable for businesses. As part of the program, T-Mobile provides a subsidy credit of up to $700 on certified Digi routers, which are integrated with Digi Remote Manager for advanced management and monitoring.
The partnership underscores both companies' commitment to facilitating digital transformation and breaking down barriers to 5G adoption. Digi's routers are designed to meet diverse business needs, providing robust, reliable, and secure 5G connectivity for various environments and use cases.
Digi International Inc. (NASDAQ: DGII) has announced the release date for its fourth fiscal quarter and full fiscal 2024 earnings results. The financial results will be disclosed on Wednesday, November 13, after market close, at approximately 4:00 p.m. ET. Following the release, CEO Ron Konezny and CFO Jamie Loch will host a conference call at 5:00 p.m. ET to discuss the results and answer questions.
Participants are encouraged to pre-register for the conference call to obtain dial-in information and are requested to join 15 minutes before the start time. A live webcast of the call will be accessible through Digi's investor relations website. A replay of the call will be available shortly after its completion and will remain accessible for approximately one year via the company's website.
Opengear, a Digi International company (NASDAQ: DGII), has introduced two new advanced offerings to simplify IT management: Connected Resource Gateway (CRG) and Lighthouse Service Portal (LSP). These solutions aim to streamline initial setup with zero-touch provisioning and ensure secure access to IT infrastructure.
The CRG integrates with Opengear's Smart Management Fabric, providing a reliable link between network management tools, users, and managed endpoints. It offers secure access to IT resources through a web interface with serial or IP-based connectivity options.
The LSP is a cloud-based service that automates the onboarding of new Opengear appliances, simplifying the deployment of data center and edge site network infrastructure. These enhancements to Opengear's Network Resilience Platform address the increasing demands on IT organizations to deliver results with fewer resources while meeting security, compliance, and AI requirements.
Digi International (NASDAQ: DGII) has launched Digi 360, a comprehensive subscription-based solution for cellular IoT. This new offering combines purpose-built devices, software, and services to simplify the deployment and management of IoT investments. Digi 360 includes:
1. Digi Remote Manager: An intelligent network command center for centralized control, management, and security.
2. Digi Cellular Devices: Industry-leading devices designed for challenging conditions and extended lifecycles.
3. Customer Care: 24/7/365 expert global support with a four-hour response SLA.
4. Lifetime Warranty: Enhanced protection for active subscribers.
Optional add-on services like Digi Containers, WAN Bonding, and Mobile VPN are available to customize solutions. Digi 360 aims to provide a future-proof investment and ease the complexity of IoT deployments across enterprise, industrial, and transportation environments.
Digi International (NASDAQ: DGII) has announced expanded support for Linux and improved Microsoft Windows functionality for its Digi AnywhereUSB® Plus solution. This enhancement aims to provide greater flexibility for developers and system integrators, especially in the context of increasing adoption of SOM-based IIoT and IoT devices for 5G networks.
Key features include broad support for multiple Linux distributions, including headless operation, improved Windows functionality, and enhanced reliability and performance. The update is designed to meet the growing demand for robust and reliable software solutions in IIoT and IoT applications.
Digi AnywhereUSB Plus enables remote management of USB devices over networks, making it ideal for virtualized environments and data centers. The product comes with a 1-year Digi Lifecycle Assurance package, including 24/7 technical support and access to Digi Remote Manager®.
Digi International (Nasdaq: DGII) reported financial results for its third fiscal quarter ending June 30, 2024. Revenue was $105M, down 6% year-over-year, while gross profit margin increased by 230 basis points to 59.2%. Net income rose to $10M from $7M, and net income per diluted share grew to $0.26 from $0.18. Adjusted net income per diluted share remained flat at $0.50. Adjusted EBITDA increased 2% to $25M. The company achieved a record Annualized Recurring Revenue (ARR) of $113M, up 9%. Cash flow from operations was $25M, compared to $18M in the prior year. Digi reduced its net outstanding debt to $152M and debt net of cash to $123M. In the IoT Product & Services segment, revenue fell by $7.4M to $80M, while ARR increased by 5% to $23M. The IoT Solutions segment saw a slight revenue increase of $0.3M to $25M, with ARR up 10% to $90M. For Q4 2024, Digi projects revenue of $102M to $106M and adjusted net income per share of $0.48 to $0.52.
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