Digi Intl Inc Stock Price, News & Analysis

Opengear, a Digi International company (NASDAQ: DGII), has introduced two new advanced offerings to simplify IT management: Connected Resource Gateway (CRG) and Lighthouse Service Portal (LSP). These solutions aim to streamline initial setup with zero-touch provisioning and ensure secure access to IT infrastructure.

The CRG integrates with Opengear's Smart Management Fabric, providing a reliable link between network management tools, users, and managed endpoints. It offers secure access to IT resources through a web interface with serial or IP-based connectivity options.

The LSP is a cloud-based service that automates the onboarding of new Opengear appliances, simplifying the deployment of data center and edge site network infrastructure. These enhancements to Opengear's Network Resilience Platform address the increasing demands on IT organizations to deliver results with fewer resources while meeting security, compliance, and AI requirements.

Digi International (NASDAQ: DGII) has launched Digi 360, a comprehensive subscription-based solution for cellular IoT. This new offering combines purpose-built devices, software, and services to simplify the deployment and management of IoT investments. Digi 360 includes:

1. Digi Remote Manager: An intelligent network command center for centralized control, management, and security.
2. Digi Cellular Devices: Industry-leading devices designed for challenging conditions and extended lifecycles.
3. Customer Care: 24/7/365 expert global support with a four-hour response SLA.
4. Lifetime Warranty: Enhanced protection for active subscribers.

Optional add-on services like Digi Containers, WAN Bonding, and Mobile VPN are available to customize solutions. Digi 360 aims to provide a future-proof investment and ease the complexity of IoT deployments across enterprise, industrial, and transportation environments.

Digi International (NASDAQ: DGII) has announced expanded support for Linux and improved Microsoft Windows functionality for its Digi AnywhereUSB® Plus solution. This enhancement aims to provide greater flexibility for developers and system integrators, especially in the context of increasing adoption of SOM-based IIoT and IoT devices for 5G networks.

Key features include broad support for multiple Linux distributions, including headless operation, improved Windows functionality, and enhanced reliability and performance. The update is designed to meet the growing demand for robust and reliable software solutions in IIoT and IoT applications.

Digi AnywhereUSB Plus enables remote management of USB devices over networks, making it ideal for virtualized environments and data centers. The product comes with a 1-year Digi Lifecycle Assurance package, including 24/7 technical support and access to Digi Remote Manager®.

Digi International (Nasdaq: DGII) reported financial results for its third fiscal quarter ending June 30, 2024. Revenue was $105M, down 6% year-over-year, while gross profit margin increased by 230 basis points to 59.2%. Net income rose to $10M from $7M, and net income per diluted share grew to $0.26 from $0.18. Adjusted net income per diluted share remained flat at $0.50. Adjusted EBITDA increased 2% to $25M. The company achieved a record Annualized Recurring Revenue (ARR) of $113M, up 9%. Cash flow from operations was $25M, compared to $18M in the prior year. Digi reduced its net outstanding debt to $152M and debt net of cash to $123M. In the IoT Product & Services segment, revenue fell by $7.4M to $80M, while ARR increased by 5% to $23M. The IoT Solutions segment saw a slight revenue increase of $0.3M to $25M, with ARR up 10% to $90M. For Q4 2024, Digi projects revenue of $102M to $106M and adjusted net income per share of $0.48 to $0.52.

Digi International (NASDAQ: DGII) and Atsign have announced the integration of NoPorts™ on Digi IX40 cellular routers, enhancing security for Industry 4.0 deployments. This collaboration aims to provide robust and secure remote access to critical edge infrastructure. NoPorts offers a zero-trust connection using cryptographic authentication and end-to-end encryption, eliminating the need for exposed Internet-facing ports and reducing the attack surface for critical devices.

Key benefits of NoPorts include dynamic network compatibility, universal protocol support, simplified management, and enhanced visibility. This integration addresses the growing demand for secure remote access in managing geographically dispersed edge devices, important for Industry 4.0 applications.

Digi International (NASDAQ: DGII) will announce its third fiscal quarter 2024 financial results on August 7, 2024, after market close at approximately 4:00 p.m. ET.

CEO Ron Konezny and CFO Jamie Loch will host a conference call at 5:00 p.m. ET the same day to discuss the results and take questions.

This marks a change from the previous quarter's format, where the conference call occurred the next morning.

Participants can pre-register for the call to obtain a dial-in number and passcode. A live webcast and replay of the call will be available through Digi's investor relations section on their website.

Lowes Foods, part of Alex Lee, has partnered with SmartSense by Digi to enhance its food safety and operational efficiency. The collaboration will see SmartSense's IoT solutions implemented across 141 Lowes Foods locations, monitoring over 5,000 assets. This strategic decision aims to reduce product loss, improve employee productivity, and boost customer satisfaction. SmartSense's technology replaces manual processes with automated workflows, ensuring proactive asset maintenance and food safety compliance. This partnership is expected to significantly enhance the overall guest experience and return on investment for Lowes Foods.

SmartSense by Digi has announced significant renewals and upgrades with major grocery chains Jerry’s Foods, Knowlan’s Fresh Foods, and Giant Eagle. These partnerships focus on enhancing food safety and operational efficiency through IoT technology. Jerry's Foods, expanding its reach with SmartSense over seven years, has improved store visibility and food quality across 23 locations. Knowlan's Super Markets has utilized SmartSense’s digital monitoring across 10 stores to ensure high food safety standards. Giant Eagle, leveraging 32,000 SmartSense devices, has enhanced food safety and compliance across its 182 grocery stores and 128 convenience stores, protecting $72 million worth of products in 2023. These renewals and upgrades highlight the grocers' commitment to superior food safety and customer satisfaction.

Digi International, a global IoT connectivity provider, won a patent infringement case against NimbeLink , a subsidiary of Airgain Inc. The U.S. District Court invalidated all patent claims against Digi related to NimbeLink's Skywire cellular modems. This ruling follows a previous dismissal of NimbeLink's contract claims. Digi's President, Ron Konezny, expressed satisfaction with the Court's decision.