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 has launched the Digi XBee Intelligent Edge Controller (IEC), designed to enhance industrial IoT connectivity and monitoring. This solution aims to bridge the gap between field devices and the cloud, offering improved asset control over various wireless networks. The IEC is compatible with 90% of existing industrial sensors and is particularly useful across industries such as energy, logistics, and agriculture. By simplifying integration with existing systems, Digi addresses cost and time challenges faced by companies in implementing SCADA systems.
Digi International reported record quarterly revenues of $95 million, a 23% increase year-over-year, with a gross margin of 54.9%. The Annualized Recurring Revenue (ARR) surged 165% to $90 million. Net income per diluted share was $0.08, down from $0.09, while adjusted EPS rose 52% to $0.41. The company anticipates Q3 revenues between $94 million and $98 million, projecting continued growth despite supply chain challenges. Digi aims for $100 million in both ARR and quarterly revenues, showcasing strong demand and strategic investments.
Digi International (NASDAQ: DGII) will announce its second fiscal quarter financial results on May 4, 2022, around 4:00 p.m. ET. CEO Ron Konezny and CFO Jamie Loch will host a conference call at 5:00 p.m. ET that same day to discuss the results and provide business updates. Participants can join through live webcasts or register for teleconference access. A replay will be available after the call. Digi, founded in 1985, specializes in Internet of Things (IoT) products, helping customers connect over 100 million devices.
Digi International (NASDAQ: DGII) expands its partnership with Giant Eagle, enhancing food safety through the deployment of 32,000 SmartSense digital temperature monitoring devices across 215 pharmacies and 175 grocery properties.
SmartSense's IoT solutions streamline compliance and improve operational efficiency, providing detailed data insights and analytics to monitor product freshness.
This collaboration reflects Giant Eagle's commitment to quality, leveraging digital technology to optimize safety and productivity within their facilities.
AT&T and Digi International have partnered to offer smart traffic management solutions through NASPO contracts. The collaboration enables municipalities to efficiently upgrade aging traffic systems with minimal disruption. Key features include adaptive control, congestion detection, connected vehicles, and reliable backhaul communication. This integrated approach promises improved public safety and traffic flow while reducing maintenance costs. The solution has achieved a reliability rate of 99% in major cities like New York, positioning it as a viable choice for municipalities across the U.S.
Digi International (Nasdaq: DGII) reported a record revenue of $84.3 million for the first fiscal quarter ending December 31, 2021, marking a 15% increase year-over-year. Net income per diluted share rose to $0.03, up from $(0.01) a year earlier. Adjusted EBITDA increased by 31% to $17.0 million. The annualized recurring revenue (ARR) surged to over $88 million, a remarkable 170% growth. Looking ahead, Digi anticipates revenues between $87 million and $91 million for the second fiscal quarter, reflecting an 13% to 18% growth.
Digi International has appointed Guy Yehiav as President of its SmartSense by Digi division. With over 25 years of experience in retail, CPG, and supply chain, Yehiav has previously held key roles at Oracle and Zebra Technologies. His leadership will focus on driving growth and enhancing enterprise IoT solutions for food safety and supply chain visibility. CEO Ron Konezny expressed confidence that Yehiav's expertise aligns well with the company's goals for innovation and customer success.
Digi International (NASDAQ: DGII) has launched a new 450 MHz version of the IX20 cellular router aimed at enhancing connectivity for utilities and critical infrastructure. This router is designed to improve coverage and signal penetration in both urban and rural environments. Key features include intelligent network management, enterprise-grade security, and flexibility for various applications including Smart Grid and Smart City projects. Digi has also joined the 450 MHz Alliance to further support industrial and utility communications.
FAQ
What is the current stock price of Digi International (DGII)?
What is the market cap of Digi International (DGII)?
What does Digi International Inc. specialize in?
When was Digi International Inc. founded?
What are the main segments of Digi International Inc.?
Where is Digi International Inc. headquartered?
What products does the IoT Products and Services segment offer?
What services are provided under the IoT Solutions segment?
How many devices has Digi International connected?
What regions does Digi International Inc. operate in?
What recent achievements has Digi International Inc. made?
What is the main revenue source for Digi International Inc.?
