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.
SmartSense by Digi has established a Food Service Advisory Board (FSAB) to enhance production and customer success within the food sector through IoT solutions. The board, led by John Deane, aims to improve efficiency and compliance while promoting public health. Inaugural members include industry leaders from Giant Eagle, Schnuck Markets, and Mueller Consulting. The FSAB will convene its first meetings from October 16-18 in Boston, focusing on actionable insights to navigate market challenges.
MaxLinear Inc. (NASDAQ: MXL) has been selected by Digi International (NASDAQ: DGII) for its PCIe bridges and serial transceivers to enhance the Digi Connect® IT console access servers, crucial for data centers. These products enable robust remote access, catering to the growing demand for secure data management. The data center market is projected to exceed $69 billion by 2024. MaxLinear aims to support this growth with a range of products tailored for data center applications, promoting scalability and performance in remote connectivity solutions.
SmartSense by Digi, a business unit of Digi International (NASDAQ: DGII), has launched a new Healthcare Advisory Board aimed at addressing operational risks and compliance in healthcare organizations through IoT solutions. Chaired by James Langabeer, the board consists of industry experts including Keith Perry and Richard McFee. Their expertise aims to enhance patient care, streamline operations, and maximize IoT potential. The board's inaugural meeting is scheduled for October 16-18 in Boston.
Digi International (Nasdaq: DGII) announced its fiscal Q3 2022 results, reporting a record revenue of $104 million, a 31% increase year-over-year. The gross profit margin improved to 55.5%, and net income per diluted share rose to $0.12, up 33%. Adjusted EPS climbed 80% to $0.45.
Annualized Recurring Revenue (ARR) reached $92 million, a 157% increase. The IoT segment saw revenues of $80 million, while IoT Solutions grew to $24 million, up 94%.
Q4 guidance suggests revenues of $98-$102 million, indicating 24-29% growth.
Digi International (NASDAQ: DGII) will announce its third fiscal quarter financial results on August 4, 2022, at approximately 8:00 a.m. ET. The announcement will feature a new shareholder letter format. Following this, 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. Investors can pre-register for the call and access a live webcast through Digi's investor relations website. A replay will be available after the call for one week.
Digi International (NASDAQ: DGII) has launched the Digi XBee LR, a new LoRaWAN-compatible wireless communication module, enhancing its IoT product range. This module supports various applications, such as precision irrigation and remote monitoring, and is pre-certified for multiple regions. It features zero-touch provisioning and low power consumption, aiming to provide businesses with a robust IoT solution. The product is expected to be available for evaluation in Q4 2022, marking a significant development in Digi's connectivity offerings.
Opengear, a Digi International company (NASDAQ: DGII), released research revealing a disconnect in digital transformation efforts. While 90% of CIOs are engaged in decision-making, only 17% involve network managers and just 13% include network engineers. The survey highlighted that only 28% of CIOs are satisfied with network engineering talent, with 39% citing skill shortages as barriers to digital transformation. CIOs recognize the growing need for these professionals, yet 62% haven't implemented change management processes. Greater collaboration between CIOs and network engineers is deemed essential for effective digital transformation.
Digi International has launched the Digi ConnectCore MP1, the smallest system-on-module (SOM) in its category, featuring integrated Wi-Fi, Bluetooth, and wired connectivity. Designed for OEMs, this cost-effective solution accelerates product development across diverse applications, including healthcare and industrial sectors. The MP1 SOMs measure just 29x29 mm and provide substantial flexibility with advanced features like pre-certified wireless connectivity and embedded security. The complete suite includes development tools and remote management services.
Digi International (NASDAQ: DGII) has launched Digi ConnectCore® Voice Control, a voice-control software solution for its ConnectCore system-on-modules. This solution supports 30 languages and a 60,000-word vocabulary, allowing voice processing on edge devices without cloud connectivity, which addresses data privacy and cost issues. The software aims to enhance human-machine interactions, especially in industrial settings where touch interfaces may fail due to environmental challenges. A free software development kit is available for engineers to create proof-of-concept applications.
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