Digi Intl Inc Stock Price, News & Analysis

Opengear, a Digi International company (NASDAQ: DGII), has launched the CM8100, a new console manager that enhances network resilience. This device adds NetOps capabilities to existing Smart OOB features, enabling secure remote access and efficient management of IT infrastructure. Key features include hosting up to 48 devices, hardware-based TPM 2.0 security, and an open architecture REST API. The CM8100 aims to reduce downtime by providing IT personnel with reliable remote access, which can save significant costs associated with outages, often exceeding $100,000.

According to a recent survey commissioned by Opengear, 53% of network engineers and 52% of CIOs identify cybersecurity as their top risk in digital transformation strategies. The research highlights a significant rise in cyberattacks, with 61% of CIOs noting increased incidents compared to previous years. A notable 70% of network engineers emphasize security as a key focus area. Furthermore, 41% of CIOs prioritize cybersecurity investments for the upcoming year, marking it as critical for organizational growth. Opengear, a Digi International company, focuses on secure IT infrastructure management.

A recent survey commissioned by Opengear shows that 53% of network engineers and 52% of CIOs identify cybersecurity as a major risk in digital transformation. The survey reveals that 61% of CIOs experienced an increase in cyberattacks from 2020-21. 70% of network engineers prioritize security in networking, with 41% of CIOs viewing cybersecurity as a crucial investment for the next year. The findings underline the rising importance of cybersecurity in organizational strategies.

Digi International (NASDAQ: DGII) has launched the Digi IX30, a ruggedized industrial-grade cellular router designed for challenging environments. This innovative solution features Digi Remote Manager for managing devices and offers high connectivity options to enable Industry 4.0 applications across sectors like oil and gas, water utilities, and smart cities. The IX30 supports both public and private cellular networks, and is engineered to comply with Class 1, Division 2 and ATEX standards. It aims to reduce operational costs while enhancing performance in critical use cases.

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.