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 (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.
Digi International (NASDAQ: DGII) will announce its financial results for Q2 2021 on May 5, 2021, post-market close at 4:00 p.m. ET. CEO Ron Konezny and CFO Jamie Loch will discuss results and business updates in a conference call at 5:00 p.m. ET the same day. Interested parties can access the call via Digi's investor relations webpage or by phone. A replay will be available shortly after the call, lasting one week. Digi is a premier provider of IoT products and solutions, connecting over 100 million devices since its inception in 1985.
Digi International (NASDAQ: DGII) has acquired Dallas-based Haxiot, a leader in end-to-end LoRaWAN-based solutions, enhancing its embedded systems portfolio. Haxiot, founded in 2015, offers a wide array of low power wide area technology and a scalable X-ON cloud IoT platform. The acquisition broadens Digi's market reach with a comprehensive LoRaWAN offering, streamlining deployment for various industries, including utilities and industrial supply chains. LoRa technology is anticipated to see significant market growth, with a projected 40% CAGR.
Digi International (NASDAQ: DGII) announced an amended credit agreement with BMO Harris Bank, replacing its previous facility. The new senior secured credit facility amounts to $200 million, with an optional $75 million increase, replacing a $48 million Term A loan and a $100 million revolving loan. This agreement enhances financial flexibility for Digi, allowing funds to be used for working capital, acquisitions, and other corporate purposes. The terms match those of the previous agreement, providing a stable financial environment for Digi's growth initiatives.
Digi International (NASDAQ: DGII) announced its 2020 Channel Awards, recognizing exemplary distributors and partners who enhanced the IoT market. The awards highlight key players, including Digi-Key Electronics as Global Distributor of the Year, Technology Integration Group as Emergent Partner of the Year, and Carrier & Gable as Public Sector Partner of the Year. Digi acknowledges these partners for their significant contributions to its success in 2020 and anticipates continued momentum into 2021 and beyond.
Digi International (Nasdaq: DGII) has priced a public offering of 3,500,000 shares of common stock at $19.50 each, with gross proceeds estimated at approximately $68.3 million. An additional option for underwriters to purchase 525,000 shares is also available. The offering is set to close on or around March 8, 2021. Proceeds will be used for working capital and general corporate purposes, including potential investments in complementary businesses, although no specific plans are in place. Piper Sandler is the sole book-running manager for the offering.
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