Digi Intl Inc Stock Price, News & Analysis

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.

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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.

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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.