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.
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.
Digi International (NASDAQ: DGII) has announced the launch of the Digi ConnectCore 8M Mini System on Module (SOM), enhancing its market-leading product line in IoT connectivity. The 8M Mini is a cost-effective platform powered by the NXP i.MX 8M Mini processor, ideal for industrial and medical applications. Its features include advanced security, integrated memory, and pre-certified wireless capabilities, enabling faster market entry for manufacturers. The product ensures a long lifecycle backed by NXP’s longevity program, offering significant operational advantages for developers.
Digi International has launched the SmartSense B2 Sensor to enhance its IoT connectivity solutions, focusing on critical control point sensing and monitoring. This new sensor complements the existing B Sensor, offering improved wireless communication and extended battery life of up to four years. It enables precise monitoring in high-traffic areas and stores data during outages. RaceTrac has successfully integrated B2 Sensors, praising its enhanced features. This innovation reflects Digi's commitment to exceeding customer expectations and ensuring food safety in grocery and restaurant operations.
Digi International (NASDAQ: DGII) has launched the innovative Digi IX15, an industrial-grade cellular gateway that uniquely offers Zigbee support. This device combines the functionalities of a gateway and router, presenting a cost-effective IoT solution for industrial applications. The IX15 enhances the Digi XBee ecosystem and integrates with Digi Remote Manager for streamlined device management. Designed for challenging environments, it is certified for C1D2 deployments and aims to accelerate time-to-market for businesses in sectors like oil, gas, and agriculture.
Digi International announced its financial results for Q2 FY2021, reporting record revenues of $77.3 million, a 5.2% increase year-over-year. Net income per diluted share rose to $0.09, marking a 28.6% increase, while adjusted EPS increased to $0.27, up 8.0%. The company executed strategic actions, including a stock offering that generated $73.8 million. IoT Product & Services revenues decreased by 1.9%, attributed to lower cellular router sales. Conversely, IoT Solutions revenues surged 78.0%, driven by increased subscription revenue.
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