Welcome to our dedicated page for Digi Intl news (Ticker: DGII), a resource for investors and traders seeking the latest updates and insights on Digi Intl stock.
Digi International Inc. (NASDAQ: DGII) is a provider of Internet of Things (IoT) connectivity products, services, and solutions, and its news flow reflects developments across embedded connectivity, managed services, and cloud-based device management. The DGII news page aggregates announcements from Digi and its business units, giving investors and technology professionals a single place to review material updates.
Recent news releases highlight Digi’s participation in major industry events, product introductions, and strategic initiatives. Examples include announcements about embedded modules such as the Digi XBee 3 Global LTE Cat 4 cellular modem, infrastructure management solutions showcased at CES, and the launch of SmartSense ONE, a modular platform that unifies SmartSense and Jolt capabilities for monitoring, food safety, operations, and compliance.
The news feed also covers developments in managed connectivity, such as the Digi Ventus Managed Connectivity Solutions program for multi-carrier 5G services, as well as eSIM-related initiatives, including an SGP.32-compatible eSIM accessory and alignment with Simetric for validated eSIM orchestration. Security and compliance updates, such as SOC 2 Type 2 attestation for Digi Remote Manager and Digi Genesis, appear alongside quarterly and annual financial results and conference call announcements.
Visitors to this page can review how Digi and its subsidiaries, including SmartSense by Digi and Opengear, are expanding capabilities in areas like network resilience, distributed IoT visibility, and sensor-based monitoring. For anyone tracking DGII, this news section offers a focused view of product launches, segment growth, acquisitions, and platform enhancements that shape Digi’s role in the IoT connectivity landscape.
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.
Digi International reported second fiscal quarter 2024 results with revenue of $108 million, 3% decrease from the previous year. Net income was $4 million, down from $6 million. Gross profit margin increased to 57.9%. Cash flow from operations was $13 million. Annualized Recurring Revenue (ARR) reached $110 million, up 11%. Operating income and adjusted EBITDA remained flat year over year. IoT Product & Services segment revenue decreased by $2.5 million, while IoT Solutions segment revenue decreased by $0.9 million. The company reiterated its commitment to doubling ARR and Adjusted EBITDA to $200 million in the next five years. However, the third fiscal quarter 2024 revenue is estimated to be $103 million to $107 million with a projected 5% ARR growth for the fiscal year. Adjusted EBITDA is expected to be between $24.0 million and $25.5 million.
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