Why Digi International Stock Jumped 16.2% Today [Yahoo! Finance]
Digi International Inc. (DGII)
Last digi international inc. earnings: 1/30 04:05 pm
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US:NASDAQ Investor Relations:
phx.corporate-ir.net/4i-m.url
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Source: Yahoo! Finance
Shares were volatile in trading but were still up 12.5% at 2:30 p.m. ET. Digi beats expectations Volumes were under pressure across the board, which led to a drop on the top line. Revenue fell 3% to $106.1 million in the quarter, and net loss was $3 million, or $0.08 per share. Adjusted earnings per share were $0.48, flat from a year ago. Analysts were only expecting revenue of $105.8 million and earnings per share of $0.45 in the quarter. Management also said annualized recurring revenue (ARR) was up 13% in the quarter to $108 million, the first time the company's ARR has exceeded quarterly revenue. Growing in the right places Products and services revenue fell 3% to $82 million as fewer console servers and cellular products were sold. But ARR increased 64% to $23 million in the quarter. IoT Solutions revenue fell 4% to $24 million but also saw an increase in ARR of 4% to $85 million. Moving customers to more subscription-based revenue can lead to lower margins short-
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News
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- Digi International Expands Monitoring Portfolio with Launch of Digi Connect Sensor XRT-M Powered by Digi Axess [Yahoo! Finance]Yahoo! Finance
DGII
Earnings
- 1/31/24 - Beat
DGII
Analyst Actions
- 2/5/24 - Stephens & Co.
DGII
Sec Filings
- 2/21/24 - Form 3
- 2/14/24 - Form SC
- 2/13/24 - Form SC
- DGII's page on the SEC website