Digi International Inc. (DGII) Bundle
A Brief History of Digi International Inc. (DGII)
Founding and Early Years
Founding and Early Years
Digi International Inc. was founded in 1985 in Minneapolis, Minnesota. The company focused primarily on providing connectivity products and services for industrial automation and network infrastructure.
Public Offering
In 1994, Digi International went public, with its initial public offering (IPO) priced at $14 per share. The company raised approximately $10 million in its IPO.
Acquisitions and Growth
Over the years, Digi has made several key acquisitions to expand its product offerings and market reach:
- In 2008, Digi acquired Ethernet and Serial connectivity products from NetComm Wireless Ltd..
- In 2011, the company purchased IC Intracom, enhancing its capabilities in wireless solutions.
- In 2019, Digi acquired OpenGear, a maker of console management solutions.
Financial Performance
As of the fiscal year ending September 30, 2022, Digi International reported the following financial highlights:
| Metric | Amount (in millions) |
|---|---|
| Revenue | $329.8 |
| Net Income | $22.6 |
| Total Assets | $429.4 |
| Total Liabilities | $177.5 |
| Shareholders' Equity | $251.9 |
Market Position and Innovation
Digi International focuses on the Internet of Things (IoT) and has developed various products such as:
- Digi XBee - a versatile wireless module for IoT applications.
- Digi Connect - a solution for remote management and access.
- Digi Remote Manager - a cloud-based platform for device management.
Recent Developments
In 2023, Digi International reported a 30% year-over-year growth in revenue for its IoT solutions segment, emphasizing its commitment to being a leader in the connectivity space.
Stock Performance
As of October 2023, the stock price of Digi International Inc. (DGII) is approximately $19.50 per share, reflecting a market capitalization of about $550 million.
Sustainability Efforts
Digi International has made strides in sustainability, committing to reducing its carbon footprint by 20% by the year 2025.
Global Presence
The company has a global footprint, with operations in North America, Europe, and Asia, catering to various industries including:
- Transportation
- Healthcare
- Energy
- Manufacturing
Conclusion of Historical Growth
Digi International continues to innovate, adapt, and grow in the evolving technology landscape, driven by its focus on connectivity and IoT solutions.
A Who Owns Digi International Inc. (DGII)
Current Ownership Structure
Current Ownership Structure
Digi International Inc. (DGII) has a diverse ownership structure with various institutional and individual investors holding significant stakes in the company. The following table outlines the latest share ownership as of September 2023:
| Owner Type | Owner Name | Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| Institutional Investor | The Vanguard Group, Inc. | 1,600,000 | 9.50% |
| Institutional Investor | BlackRock, Inc. | 1,500,000 | 8.80% |
| Institutional Investor | Dimensional Fund Advisors LP | 1,200,000 | 7.10% |
| Institutional Investor | State Street Corporation | 1,100,000 | 6.50% |
| Individual Investor | Kevin C. K. McCarthy (CEO) | 300,000 | 1.80% |
| Total Institutional Ownership | N/A | 5,400,000 | 32.8% |
| Total Shares Outstanding | N/A | 16,420,000 | 100% |
Major Shareholder Information
As of the latest financial reports, the top institutional investors have been actively managing their holdings in Digi International Inc. The following list outlines the top five shareholders and their respective ownership details:
- The Vanguard Group, Inc. - 9.50% ownership
- BlackRock, Inc. - 8.80% ownership
- Dimensional Fund Advisors LP - 7.10% ownership
- State Street Corporation - 6.50% ownership
- Kevin C. K. McCarthy (CEO) - 1.80% ownership
Recent Share Performance
The stock performance of Digi International Inc. has shown fluctuations that reflect market trends and investor sentiments. The following table demonstrates the stock's performance metrics for the fiscal year 2023:
| Metric | Value |
|---|---|
| Current Share Price (as of September 2023) | $21.50 |
| 52-Week High | $25.00 |
| 52-Week Low | $15.30 |
| Market Capitalization | $353.70 million |
| PE Ratio (TTM) | 22.60 |
| Dividend Yield | 1.50% |
Recent Financial Performance
Digi International Inc. has experienced varying financial performance metrics. The latest financial results for the fiscal year ending June 2023 are summarized in the following table:
| Financial Metric | Value |
|---|---|
| Total Revenue | $175 million |
| Net Income | $15 million |
| Gross Profit Margin | 40% |
| Operating Income | $25 million |
| EBITDA | $30 million |
Investor Relations
Investors interested in Digi International Inc. can access detailed reports through the company’s investor relations page. Recent activity indicates strong interest from both institutional and retail investors, as highlighted in the following list:
- Last Annual Meeting Date: May 2023
- Next Quarterly Earnings Report: November 2023
- Investor Contact Email: investors@digintl.com
Digi International Inc. (DGII) Mission Statement
Overview of the Mission Statement
Digi International Inc. (DGII) aims to deliver best-in-class solutions that drive innovation in the Internet of Things (IoT) and connectivity markets. Their mission statement emphasizes commitment to customer success, continuous improvement, and delivering high-quality products and services.
Core Values
- Integrity: Establishing trust through transparency and ethical practices.
- Innovation: Fostering creativity to deliver cutting-edge solutions.
- Customer Centricity: Prioritizing customer needs and feedback.
- Collaboration: Working together across teams and disciplines.
Financial Highlights
As of the fiscal year 2022, Digi International reported key financial metrics that underpin its mission to deliver value to stakeholders:
| Financial Metric | Amount ($ millions) |
|---|---|
| Revenue | 440.0 |
| Net Income | 24.5 |
| Operating Income | 30.0 |
| Gross Profit Margin | 38.6% |
| R&D Investment | 34.0 |
Strategic Goals
Digi International's mission is supported by strategic goals that include:
- Expand market presence in the IoT sector.
- Enhance product offerings through ongoing innovation.
- Increase customer satisfaction and retention rates.
- Drive operational efficiency to improve profitability.
Recent Developments
In the latest quarter, Digi International reported a year-over-year revenue increase of 15%. They also launched a new product line targeting smart city solutions, which aligns with their mission to innovate and meet evolving customer needs.
Customer Impact
According to recent customer feedback surveys, over 87% of Digi's customers expressed satisfaction with the company's products and services. This high satisfaction rate supports their mission of prioritizing customer success.
Market Position
Digi International has a strong foothold in the IoT sector, achieving a market share of approximately 12%. This positions the company favorably against competitors and showcases the effectiveness of their mission-driven approach.
How Digi International Inc. (DGII) Works
Company Overview
Company Overview
Digi International Inc. (DGII) is a leading provider of Internet of Things (IoT) connectivity products and services. The company specializes in developing hardware and software solutions that connect devices and networks, aiming to optimize operations across various industries.
Business Model
Digi operates on a subscription-based model as well as traditional product sales. Their revenue streams include:
- Hardware sales: comprising routers, gateways, and modems
- Software services: IoT management platforms and analytics
- Connectivity services: cellular and satellite communication options
- Maintenance and support services
Financial Performance
As of the fiscal year 2023, Digi International reported the following financial metrics:
| Metric | Amount (in millions USD) |
|---|---|
| Total Revenue | 236.9 |
| Gross Profit | 97.5 |
| Operating Income | 27.6 |
| Net Income | 21.0 |
| Adjusted EBITDA | 38.5 |
Market Segments
Digi targets several key industries, including:
- Transportation
- Utilities
- Healthcare
- Smart cities
- Industrial automation
Product Offerings
Digi's product line includes:
- Digi XBee: A family of wireless communication modules
- Digi Connect: Cellular routers and gateways
- Digi Remote Manager: Device management platform
- Digi Asset Tracking: Solutions for real-time location tracking
Research and Development
The company invests heavily in R&D. In 2022, Digi International allocated approximately 10% of its revenue towards research and development efforts.
Strategic Partnerships
Digi has established partnerships with various tech companies to enhance its IoT solutions. Recent collaborations include:
- Allied Electronics for distribution
- AWS for cloud integration
- Microsoft for IoT solutions
Stock Performance
As of October 2023, Digi International's stock performance metrics are as follows:
| Metric | Value |
|---|---|
| Stock Price | USD 30.15 |
| Market Capitalization | USD 1.1 billion |
| Price-to-Earnings Ratio | 32.5 |
| Dividend Yield | 0.8% |
| 52-Week High | USD 35.50 |
| 52-Week Low | USD 24.60 |
Global Presence
Digi International operates globally, with significant market presence in:
- North America
- Europe
- Asia-Pacific
Customer Base
Digi's customers include:
- Large enterprises
- Small and medium-sized businesses (SMBs)
- Government agencies
- Developers and system integrators
Future Outlook
Looking forward, Digi International aims to expand its market share in the IoT sector. Analysts project a compound annual growth rate (CAGR) of 15% for the IoT sector through 2027.
How Digi International Inc. (DGII) Makes Money
Revenue Streams
Digi International Inc. generates revenue through several key streams, primarily characterized by its focus on the Internet of Things (IoT) solutions. As of fiscal year 2023, the company reported total revenue of $446 million.
- Product Revenue: $306 million
- Recurring Revenue: $140 million
Product Revenue Breakdown
The product revenue encompasses various segments of Digi's offerings:
| Product Category | Revenue (in millions) |
|---|---|
| Cellular Routers and Gateways | $120 |
| RF Modules and Development Kits | $90 |
| Connectivity Solutions | $50 |
| Other Products | $46 |
Recurring Revenue Sources
Digi's recurring revenue primarily involves subscription-based services:
- Managed Services
- Data Plans
- Software Subscriptions
Geographic Revenue Distribution
The geographical breakdown of revenue highlights the company's market presence:
| Region | Revenue (in millions) |
|---|---|
| North America | $350 |
| Europe | $70 |
| Asia-Pacific | $26 |
| Other Regions | $0 |
Market Segment Contributions
Digi operates in several market segments, contributing differently to total revenue:
| Market Segment | Percentage of Total Revenue |
|---|---|
| Industrial Automation | 35% |
| Transportation | 25% |
| Healthcare | 15% |
| Smart Cities | 10% |
| Other | 15% |
Investment in R&D
Digi has consistently invested in research and development to enhance its product offerings, with R&D expenses amounting to $35 million in fiscal year 2023.
Stock Performance
Digi’s stock price has seen fluctuations over the years, with a closing price of $22.04 as of October 2023.
- Market Capitalization: Approximately $813 million
- 52-Week Range: $17.71 - $25.33
Financial Highlights
The financial health of Digi International includes the following key metrics:
| Financial Metric | Value |
|---|---|
| Gross Margin | 54% |
| Net Income | $25 million |
| Total Assets | $450 million |
| Total Liabilities | $150 million |
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