Business
Digi International Reports Fourth Fiscal Quarter and Full Fiscal 2021 results Record Annual Revenue of $309M, ARR grows over 30% to nearly $38M Full Year EPS of $0.31, Adjusted EPS of $1.08
MINNEAPOLIS--(BUSINESS WIRE)-- Digi International® Inc. (Nasdaq: DGII), a leading global provider of business and mission critical Internet of Things ("IoT")
About this update from Digi International Inc.
[{"type":"text","content":" MINNEAPOLIS--(BUSINESS WIRE)--\nDigi International® Inc. (Nasdaq: DGII), a leading global provider of business and mission critical Internet of Things (\"IoT\") products, services and solutions, today announced its financial results for its fourth fiscal quarter ended September 30, 2021.\n\nFourth Fiscal Quarter 2021 Results Compared to Fourth Fiscal Quarter 2020 Results\n\n\nRevenue increased to $79.1 million, or an increase of 8.1%.\n\n\n\nGross margin was 53.9% versus 51.3%. Gross margin excluding amortization was 55.4% compared to 52.9%.\n\n\n\nNet income per diluted share decreased to $0.13, or a decrease of 13.3%.\n\n\n\nAdjusted EPS decreased to $0.25 per diluted share, or a decrease of 21.9%.\n\n\n\nAdjusted EBITDA decreased to $12.0 million, or a decrease of 0.4%.\n\n\nFull Year Fiscal 2021 Results Compared to Full Year Fiscal 2020 Results\n\n\nRevenue increased to $308.6 million, or an increase of 10.5%.\n\n\n\nGross margin was 54.0% versus 51.6%. Gross margin excluding amortization was 55.5% compared to 53.2%.\n\n\n\nNet income per diluted share increased to $0.31, or an increase of 10.7%.\n\n\n\nAdjusted EPS increased to $1.08 per diluted share, or an increase of 10.2%.\n\n\n\nAdjusted EBITDA increased to $48.3 million, or an increase of 20.1%.\n\n\nReconciliations of GAAP and non-GAAP financial measures appear at the end of this release.\n\n“Digi grew revenues over 10% despite unprecedented supply chain challenges,” said Ron Konezny, President and Chief Executive Officer. “Annualized Recurring Revenues growth of 30% demonstrates our relentless dedication to adding more value to our customers’ digital transformations. The addition of Ventus to the Digi family further accelerates our transformation to software, services, and subscription offerings. Digi now provides subscription based services to over 250,000 sites.”\n\nSegment Results\n\nIoT Product & Services\n\nThe segment's fourth fiscal quarter 2021 revenues of $69.9 million increased 8.4% from the same period in the prior fiscal year. This increase is attributable primarily to revenue from our console server products. ARR grew 20% from prior year to $13.7 million. Gross profit margin increased 201 basis points to 53.7% of revenues for the fourth fiscal quarter of 2021, due to product and customer mix.\n\nFull fiscal 2021 revenues of $264.2 million were a record...