Business
Digi International Reports Fourth Fiscal Quarter and Full Fiscal 2022 results Record Annual Revenue of $388M, End of Quarter ARR of Over $94M Full Year EPS of $0.54, Adjusted EPS of $1.66
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, 2022.\n\nFourth Fiscal Quarter 2022 Results Compared to Fourth Fiscal Quarter 2021 Results1\n\n\nRevenue was $106 million, an increase of 34%.\n\n\nGross profit margin was 55.8% versus 53.9%. Gross profit margin excluding amortization was 57.0% compared to 55.4%.\n\n\nNet income per diluted share was $0.31 from $0.13, an increase of 138%.\n\n\nAdjusted EPS was $0.45 per diluted share, an increase of 80%.\n\n\nAdjusted EBITDA was $22 million, an increase of 82%.\n\n\nAnnualized Recurring Revenue (ARR) was over $94 million at quarter end, an increase of 149%.\n\n\nFull Year Fiscal 2022 Results Compared to Full Year Fiscal 2021 Results1\n\n\nRevenue was $388 million, an increase of 26%.\n\n\nGross profit margin was 55.7% versus 54.0%. Gross profit margin excluding amortization was 57.1% compared to 55.5%.\n\n\nNet income per diluted share was $0.54 from $0.31, an increase of 74%.\n\n\nAdjusted EPS was $1.66 per diluted share, an increase of 54%.\n\n\nAdjusted EBITDA was $79 million, an increase of 65%.\n\n\n1 Fourth Fiscal Quarter 2022 and Full Year Fiscal 2022 results include the results of Ventus, which was acquired during our first fiscal quarter of 2022.\n\nReconciliations of GAAP and non-GAAP financial measures appear at the end of this release.\n\n\"The Digi team delivered a remarkable fiscal year for the company,\" said Ron Konezny, President and Chief Executive Officer. \"We set new records for revenue, ARR, Adjusted EBITDA and Adjusted EPS throughout the year. We hit the first of our \"100\" goals with consecutive $100 million revenue quarters. We remain committed to our remaining goals of $100 million in ARR and $100 million in annualized Adjusted EBITDA. I’m so proud of our teammates for their resilience, determination and customer focus in the face of dynamically challenging business conditions.\"\n\nSegment Results\n\nIoT Product & Services\n\nThe segment's fourth fiscal quarter 2022 revenues of $81 million increased 15% from the same period in the prior fiscal year. This increase is attributable primarily to revenue growth from our OEM and...