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Overview
Digi International Inc (DGII) is a Minnesota-based corporation specializing in mission-critical and business-critical connectivity solutions. With expertise in IoT connectivity and machine-to-machine communications, Digi International delivers innovative products and services designed for demanding environments across a wide array of industry applications. The company is renowned for its reliable embedded modules, off-the-shelf routers, gateways, and network products that form the backbone of critical communications infrastructures.
Business Segments
Digi International operates primarily through two segments:
- IoT Products & Services: This segment includes a diverse range of communication products specially engineered for relentless reliability and performance. It also integrates communication product development services, ensuring that customers have access to advanced technology solutions that are both secure and tailored to their specific operational requirements.
- IoT Solutions: In addition to its hardware portfolio, Digi offers comprehensive IoT solutions that provide wireless monitoring of environmental conditions—such as temperature and humidity—and employee task management services. These solutions are designed to facilitate efficient management of assets and operations, enabling businesses to optimize performance in real time.
Mission-Critical Performance and Security
Digi International is synonymous with unwavering reliability and top-tier security. The company’s products are engineered to perform under the harshest conditions, making them a critical component in sectors where uninterrupted connectivity is paramount. The emphasis on mission-critical performance is evident in the robust design and functionality of its devices, ensuring that customers receive consistent, secure communications even in the most challenging operational settings.
Cloud Integration and Professional Services
The evolution of IoT has necessitated seamless integration with cloud-based platforms and advanced software solutions. Digi International addresses this need by offering cloud-integrated software and a suite of professional services that help customers maximize the potential of their connected assets. These services assist in deploying, managing, and monitoring complex connectivity infrastructures, thereby adding a significant strategic advantage for businesses aiming to enhance operational efficiency.
Market Position and Global Reach
With a strong presence in the United States and growing influence in the Europe, Middle East & Africa region as well as other international markets, Digi International is well-positioned within the competitive IoT landscape. The company’s embedded technologies and network products serve a broad range of industries, from manufacturing and logistics to healthcare and environmental monitoring. By consistently delivering reliable solutions, the company has established itself as an essential partner for businesses that demand remote connectivity and constant communication flow.
Competitive Differentiation
Digi International differentiates itself through its deep technological expertise and a long-standing commitment to quality and innovation. The company’s history, dating back to 1985, is a testament to its resilience and ability to adapt to evolving market demands. Unlike many competitors that may rely on a single product line, Digi International’s multifaceted approach—combining hardware excellence with state-of-the-art software and professional services—ensures that customers benefit from a holistic connectivity solution curated to meet rigorous industry standards.
Industry Expertise and Applications
The company’s solutions are built to support a wide array of mission-critical applications. Whether it is facilitating data-driven operations in automated manufacturing, ensuring continuous environmental monitoring in logistics, or enhancing task management strategies in workforce-intensive environments, Digi International’s offerings are tailored to meet specialized needs. The integration of its IoT products with cloud-based management tools exemplifies how the company bridges the gap between physical devices and digital intelligence.
Reliable Partner for Connected Operations
By consistently focusing on reliability, security, and innovation, Digi International has cemented its role as a reliable partner for businesses looking to harness the full potential of connected technologies. Its commitment to quality is reflected in every product and service, ensuring that even the most demanding industries can rely on its solutions to maintain sound operational continuity.
Summary
Digi International Inc is a comprehensive provider of connectivity products and IoT solutions, committed to delivering unmatched performance and security in mission-critical applications. With a strategic mix of hardware excellence, integrated cloud solutions, and value-added professional services, Digi International continues to provide the infrastructure necessary for next-generation connected operations. This robust approach not only reinforces its market position but also ensures that customers across various sectors receive dependable, forward-thinking solutions that are crafted to meet the rigorous demands of today’s complex operational environments.
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.
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.
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