Welcome to our dedicated page for Digi Intl news (Ticker: DGII), a resource for investors and traders seeking the latest updates and insights on Digi Intl stock.
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.
Digi International (NASDAQ: DGII) has launched the Digi Connect EZ® 8/16/32, enhancing their range of secure and scalable device servers for industrial automation and IoT applications. This new product line demonstrates Digi's commitment to providing robust connectivity solutions to critical sectors like utilities, aerospace, and logistics.
The Digi Connect EZ family includes features such as cellular support, centralized management through Digi Remote Manager®, and a one-year subscription to the LifeCycle Assurance Program, offering 24/7 expert technical assistance. This rollout is focused on enabling customers to address the challenges of the Industrial Internet of Things (IIoT) effectively. With advancements in scalability, reliability, and capability, these devices promote seamless integration and management of remote assets.
Digi International (NASDAQ: DGII) has launched the Digi XBee 3 Global Cellular family, which includes the Cellular LTE Cat 1 and Cellular LTE-M/NB-IoT smart modems designed for global deployment. These modules aim to streamline IoT connectivity with pre-certified solutions that reduce costs and development time. They feature features like BLE, GNSS positioning, and support for LTE Cat 1, LTE-M, and NB-IoT networks. The modems promise low-power consumption and are suitable for applications in various sectors, facilitating reliable cellular communication worldwide.
Digi International (NASDAQ: DGII) has launched the Digi ConnectCore® MP13, a compact, low-profile wireless module designed for IoT applications, offering pre-certified Wi-Fi 5 and Bluetooth 5.2 connectivity. This system-on-module (SOM) provides OEMs with scalable solutions for sectors like medical, smart energy, and industrial, enhancing design flexibility and reducing time-to-market. Key features include a single Cortex-A7 processor, dual Ethernet connectivity, and the embedded Digi TrustFence® security framework. The MP13 is part of a product family aimed at supporting long product lifecycles and robust development tools, streamlining deployment and management of connected devices.
Digi International has launched the Digi ConnectCore 93 system-on-module (SOM), which is based on the NXP i.MX 93 processor. This advanced SOM is designed for various IoT applications, enhancing speed-to-market while reducing costs. Key features include wireless connectivity, power efficiency, and a robust security framework through Digi TrustFence. The platform supports integrated memory and offers dual-band Wi-Fi 6 and Bluetooth 5.2. Additionally, the i.MX 93 processor ensures longevity, supported by NXP's Product Longevity Program. The launch showcases Digi's commitment to empowering manufacturers with advanced technology.
Digi International Inc. disclosed its exposure to Silicon Valley Bank (SVB) following its closure by the California Department of Financial Protection and Innovation on March 10, 2023. Digi has deposits over $2 million at SVB, making up about 5% of its cash and cash equivalents, which are largely uninsured. Although the FDIC will provide an advance dividend to uninsured depositors, recovery of funds from SVB remains uncertain. Despite this situation, Digi's remaining cash exceeding $35 million is primarily held at BMO Harris Bank, and the company believes it has sufficient cash flow to meet operational needs for the next 12 months.
Digi International (NASDAQ: DGII) has launched new versions of its Digi IX10 cellular router at DistribuTECH 2023. This advanced router facilitates the deployment of private cellular networks for electric utilities, utilizing CBRS Band 48 and Anterix Band 8 900 MHz. The Digi IX10 features enhanced reliability, security, and flexibility for industrial applications, including grid modernization and remote monitoring. This addition supports Digi's commitment to improving connectivity for utilities, essential for critical infrastructure data transmission. The product is complemented by the Digi Remote Manager for device orchestration.
Opengear, a Digi International company (NASDAQ: DGII), has launched two new models, CM8196-10G and CM8148-10G, expanding its CM8100 family of secure Out-of-Band management solutions. These devices offer advanced features such as a REST API for automation, hardware-based security with TPM 2.0, and increased connectivity with 10Gb SFP+ uplinks. The CM8196-10G supports up to 96 serial ports in a 2RU form factor, while the CM8148-10G offers 48 serial ports in 1RU. This release aims to simplify management in complex IT environments, enabling efficient deployment and maintenance for large data centers. Opengear continues to prioritize customer needs and market trends.
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.
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