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 has launched the Digi TX64 5G Rail, a high-performance cellular router tailored for rail-transit applications. This router features 5G connectivity with 4G failover, rail-grade certifications, and seamless integration with Digi’s Remote Manager for efficient network management. The device enhances operational efficiency through geofencing alerts and supports various applications such as fare collection and passenger internet access. Its rugged design ensures reliability in challenging environments, with capabilities including centralized management and advanced security through Digi TrustFence.
Digi International (NASDAQ: DGII) has launched my.digi.com, new customer and partner portals enhancing support for IoT solutions. The platform provides real-time assistance with resources like training videos, product compliance info, and customizable sales tools. CEO Ron Konezny emphasized the portal's role in facilitating access to expert support, streamlining the user experience. The initiative reflects Digi's commitment to innovation in IoT markets, aimed at maintaining competitive advantage for its partners and customers.
According to a survey by Opengear, 87% of network professionals report increased investments in NetOps over the past two years. Nearly half (48%) have boosted their spending by 50% or more. NetOps 2.0 is seen as vital for network management, with 97% of respondents rating it as important for infrastructure planning. Key drivers for this trend include digital transformation (23%) and performance improvements (17%). Opengear's president forecasts continued growth in NetOps spending driven by the need for agility and cost savings.
Opengear's latest research highlights that 41% of network professionals use NetOps to enhance network security. Additionally, 44% of those utilizing an independent management plane report improved security as a key benefit. Despite these advancements, access rights and permissions raise concerns, with only half of network engineers having access to the management plane. The survey also reveals that 39% of organizations with SD-WAN deployment leverage multilayer security to prevent downtime.
SmartSense by Digi, part of Digi International (NASDAQ: DGII), announced a partnership with Jollibee Foods Corporation (JFC) North America, implementing digital HACCP and temperature monitoring solutions across over 100 locations in the U.S. and Canada. This initiative aims to enhance food safety and quality as JFC expands its footprint. JFC has reported double-digit sales growth in 2020, attributing this success to its commitment to food quality and sanitation. The partnership allows JFC to leverage technology and maintain rigorous standards as it plans for 500 locations in the next five to seven years.
Digi International reported record quarterly revenues of $79.1 million for Q3 2021, a 12.4% increase year-over-year. The company also announced a net income per diluted share of $0.09, up 50% from last year. Annualized Recurring Revenue (ARR) rose to approximately $13 million, representing a 13% growth. The IoT Solutions segment saw a stronger performance with revenues increasing 78.6%. However, supply chain issues are anticipated to persist, affecting future revenue growth projections of $75 million to $79 million for Q4 2021.
Digi International (NASDAQ: DGII) has launched a new enterprise starter kit that provides a comprehensive LoRaWAN device-to-cloud solution, marking its entry into the low power wide area (LPWA) market. This turnkey kit aims to streamline the onboarding process for enterprises, reducing time and costs associated with digital transformation. Developed using technology from the recent acquisition of Haxiot, the kit is designed for scalability and easy deployment across various sectors, including agriculture, oil and gas, utilities, and manufacturing. The product is available now in North America and will launch in EMEA in Q3 2021.
Digi International (NASDAQ: DGII) will announce its financial results for the third fiscal quarter of 2021 on August 4, 2021, after market close at 4:00 p.m. ET. CEO Ron Konezny and CFO Jamie Loch will provide a business update during a conference call at 5:00 p.m. ET the same day. Interested parties can access the live webcast through Digi's investor relations website or join via phone. A replay will be available for one week after the call. Digi specializes in IoT solutions and has connected over 100 million devices since its inception in 1985.
Digi International (NASDAQ: DGII) has announced its acquisition of Ctek, Inc., a provider of remote monitoring and industrial control solutions. This strategic move aims to enhance Digi's IoT connectivity offerings by integrating Ctek's ruggedized products aimed at industries such as agriculture, water management, and lighting. The acquisition will enable Digi to offer comprehensive control solutions, consolidating their reach in the rapidly expanding market for industrial IoT. Ctek's established customer base and robust application suite are expected to further broaden Digi's portfolio.
Digi International (NASDAQ: DGII) has acquired Ctek, Inc., a developer of solutions for remote monitoring and industrial controls. The acquisition enhances Digi's portfolio by integrating Ctek's rugged automation products tailored for sectors such as agriculture, lighting, and water management. This move positions Digi to offer comprehensive IoT solutions, capitalizing on Ctek's expertise and established customer base. The transaction terms were not disclosed, but it marks a significant step in Digi's strategy to expand its Industrial IoT connectivity offerings.
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