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 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.
Digi International (Nasdaq: DGII) announced plans for an underwritten public offering of its common stock, aiming to sell shares with a potential 30-day option for underwriters to purchase an additional 15%. The proceeds will be used for working capital, general corporate purposes, and possible acquisitions, although no specific agreements are in place. The offering is contingent on market conditions and detailed terms will be disclosed later. Piper Sandler is the book-running manager for this offering.
Digi International (Nasdaq: DGII) reported strong financial results for Q1 FY2021, with revenue rising to $73.1 million, a 17.4% increase from $62.3 million in Q1 FY2020. Adjusted EPS improved by 113.3% to $0.32 per diluted share. However, net loss per diluted share was ($0.01), down from a net income of $0.01 due to a $5.8 million earn-out adjustment. The IoT Solutions segment saw a 47.5% revenue increase, while IoT Products & Services increased by 13.1%, but operating income fell significantly in this segment.
Digi International (NASDAQ: DGII) has announced a multiyear agreement with Coborn's, Inc. for its SmartSense enterprise monitoring solutions. Coborn's will deploy these solutions across 58 grocery stores, 36 pharmacies, 88 semitrucks, and 28 car washes to enhance product safety and quality. The monitoring system aims to optimize labor by allowing staff to focus on customer-centric activities. The deployment also addresses food safety during transport and prevents equipment damage in cold climates. This partnership showcases Digi's innovative solutions across various sectors.
Digi International (NASDAQ: DGII) will announce its financial results for Q1 2021 on February 3, 2021, at 4:00 p.m. ET. Following the results, CEO Ron Konezny and CFO Jamie Loch will conduct a conference call at 5:00 p.m. ET to discuss the findings and provide a business update. Interested participants can access the live webcast via Digi's investor relations section or join by phone. A replay will be available for one week post-call. Digi International specializes in IoT products, helping clients manage critical communications infrastructures since 1985.
Digi International (NASDAQ: DGII) announced that CEO Ron Konezny and CFO Jamie Loch will host investor calls during a Non-Deal Roadshow on December 17, 2020, organized by Colliers International Securities. This event aims to provide insights into Digi's IoT products and services, which have connected over 100 million devices globally. For further details or to schedule meetings, interested parties should contact their Colliers representative. Digi continues to enhance its position in the IoT sector by delivering secure and reliable connectivity solutions.
SmartSense by Digi, a division of Digi International (NASDAQ: DGII), announced its collaboration with Hugo's Family Marketplace to enhance food safety through automated monitoring solutions. The supermarket chain, which operates in North Dakota and Minnesota, will implement SmartSense's temperature sensors and gateways at its upcoming 11th location. This technology will enable continuous monitoring and improve operational visibility. By digitizing processes, Hugo's aims to save time and reduce costs associated with manual checks, ultimately enhancing the customer experience and food safety management.
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