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 Inc. (Nasdaq: DGII) reported record revenues of $109 million for the first fiscal quarter ended December 31, 2022, marking a 30% increase compared to the previous year. The gross profit margin was 56.3%, slightly down from 56.8%, while net income per diluted share rose significantly to $0.16, an increase of 433%. Adjusted EPS also increased by 33% to $0.48. Annualized Recurring Revenue (ARR) reached $96 million, an 8% increase. The company anticipates revenues of $105 million to $109 million for the second quarter, reflecting strong demand as supply chain conditions improve.
Digi International (NASDAQ: DGII) has launched two new software service offerings: Digi ConnectCore Cloud Services and Digi ConnectCore Security Services. These services enhance the manageability and security of IoT applications, enabling OEMs to perform over-the-air updates, remote diagnostics, and security monitoring. The ConnectCore MP15 system-on-module, powered by the STM32MP157C microprocessor from STMicroelectronics, is now available in developer kits. Together, these solutions aim to provide a comprehensive software foundation for connected devices, improving product quality and customer experience in various sectors, including healthcare and transportation.
Digi International (NASDAQ: DGII) has launched Digi Containers, enhancing its edge-to-cloud software stack anchored by Digi Remote Manager. This new software enables developers to create and operate custom applications on Digi cellular routers running DAL OS, leveraging edge computing for low latency and real-time responsiveness. The service supports Lightweight Linux Containers for optimal performance and includes key features such as portability, scalability, increased security, speed, and efficiency. Additionally, Digi has upgraded its Digi intelliFlow application to improve network analytics.
SmartSense by Digi, a unit of Digi International (NASDAQ: DGII), has launched its new IoT Sensing-as-a-Service open platform strategy aimed at enhancing interoperability within retailer technology ecosystems. This initiative allows for better integration with third-party devices and enterprise management systems. The platform will be showcased at NRF 2023 Retail’s Big Show from January 15-17, 2023, promising streamlined data extraction, improved hardware investment returns, and easy compatibility with diverse sensing devices to address unique customer needs.
Digi International (NASDAQ: DGII) will announce its financial results for Q1 2023 on February 2, 2023, before market opening at 8:00 a.m. ET. CEO Ron Konezny and CFO Jamie Loch will host a conference call at 10:00 a.m. ET to discuss the results and answer questions. Interested participants can pre-register for the call or access a live webcast through Digi's investor relations website. A replay will be available shortly after the call and can be accessed for approximately one year.
SmartSense by Digi, part of Digi International (NASDAQ: DGII), announced key developments ahead of the NRF 2023 Retail's Big Show in New York. Highlights include an executive leadership change with Guy Yehiav appointed President, strengthened customer relationships with companies like Giant Eagle and DIG Restaurants, and recognition as a Top Software & Technology Provider. Additionally, the company formed customer advisory boards to enhance service delivery in healthcare and food sectors. SmartSense aims to leverage its IoT solutions to drive significant business outcomes in 2023.
Digi International (Nasdaq: DGII) reported strong financial results for Q4 2022, with revenue of $106 million, up 34% year-over-year. The gross profit margin improved to 55.8%, and net income per diluted share surged 138% to $0.31. For the full year, revenue reached $388 million, a 26% increase, with adjusted EPS rising 54% to $1.66. ARR at quarter end was over $94 million, reflecting a 149% growth. Despite strong performance, guidance for Q1 2023 anticipates revenue growth of 20-25%, constrained by global supply chain challenges.
Digi International (NASDAQ: DGII) has launched the Digi XBee RR, a pre-certified wireless networking module designed for IoT solutions. This innovative module enhances product development flexibility and reduces time-to-market for developers and OEMs by offering off-the-shelf connectivity options. With immediate availability through Digi's global distributor network, it features multiple frequencies and protocols for diverse applications, including smart energy and intelligent lighting. Additionally, Digi provides XBee Rapid Redesign Services to assist customers with transitioning to this module.
Digi International (NASDAQ: DGII) will showcase its innovative IoT solutions at electronica 2022 in Munich, Germany from Nov. 15-18. Highlighted products include the Digi ConnectCore MP1 systems-on-modules, known for their compact design and integration of Wi-Fi and Bluetooth, and the Digi ConnectCore Voice Control software, which supports 30 languages for voice-based control without cloud dependence. These developments aim to enhance productivity and safety across industries such as transportation and medical.
Digi International has entered a strategic partnership with UR Group to enhance Intelligent Transport Systems (ITS) focusing on the U.K. market. The collaboration aims to deliver advanced transportation solutions with an emphasis on rail and Smart Cities. Digi's smart railway technologies will provide real-time data on various operational aspects, aiding transit operators in improving amenities like Wi-Fi and security. This partnership is expected to facilitate the deployment of innovative technologies that support green energy transitions in transportation.
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