Every material Form 8-K Digi International filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Digi International director Sally Smith, who joined the board in 2018, will retire effective after the 2025 annual meeting, which is scheduled for February 3, 2025. The company also nominated Valerie Heusinkveld and Allison West Hughes for election to the board at that meeting, and the filing states Ms. Smith's retirement was not due to any dispute with the company.
Sally Smith served on the Audit Committee and chaired the Nominating and Governance Committee; she informed the company of her decision on December 11, 2024.
Valerie Heusinkveld is a former CFO of Cradlepoint, Inc. (2012 to 2021) and Purcell Systems (2007 to 2012).
Allison West Hughes is a Corporate Vice President at Microsoft Corporation, in the role since July 2022.
Nominees will be voted on by stockholders at the annual meeting scheduled for February 3, 2025.
Digi International reported fiscal fourth-quarter revenue of $105 million, down 6% from a year earlier, and full-year fiscal 2024 revenue of $424 million, down 5%. GAAP net income rose in the quarter to $12 million but fell for the full year to $23 million, while adjusted EPS was flat at $0.52 for the quarter and $1.99 for the year. The company guided fiscal 2025 revenue and adjusted EBITDA to be flat year over year, with ARR projected to grow about 10%.
Q4 revenue $105 million, down 6%; Q4 diluted EPS $0.32 vs. $0.17; full-year diluted EPS $0.61 vs. $0.67
Q4 gross profit margin 61.1%, up 400 basis points; ARR at quarter end $116 million, up 9%
Fiscal 2025 outlook: revenue and adjusted EBITDA flat; ARR projected to grow approximately 10%
First quarter fiscal 2025 guidance: revenue $102 million to $106 million; adjusted EPS $0.46 to $0.50
Digi International reported fiscal third-quarter 2024 results for the period ended June 30, 2024, with revenue down 6% to $105 million while net income rose to $10 million from $7 million. Management said it expects fiscal 2024 revenue to fall about 5% and Adjusted EBITDA to rise about 1%, in line with prior guidance, and that Annualized Recurring Revenue (ARR) growth for the year now exceeds 5%.
Q3 revenue was $105 million, down 6%; diluted EPS was $0.26 versus $0.18 a year earlier
Adjusted net income per diluted share was $0.50, flat year over year
ARR reached $113 million at quarter end, up 9%; Q4 revenue is estimated at $102 million to $106 million
Net debt was $152 million at quarter end after revolver payments; interest expense fell to $3.2 million from $6.6 million
Digi International reported second fiscal quarter 2024 revenue of $108 million, down 3% from a year earlier, and net income of $4 million, down from $6 million. The company lowered its fiscal 2024 Adjusted EBITDA range and now projects revenue down 5% year over year, citing customers who are more cautious on second half demand and longer sales cycles.
Q2 revenue was $108 million, down 3%; diluted EPS was $0.11 versus $0.16, and adjusted diluted EPS was $0.49, flat year over year
Company accrued an approximate $6 million liability for pending litigation in the quarter
Fiscal 2024 revenue is projected to be down 5% year over year; Adjusted EBITDA range lowered slightly
Third quarter revenue guidance is $103 million to $107 million, with adjusted diluted EPS of $0.47 to $0.51
Digi International reported first fiscal quarter 2024 revenue of $106 million, down 3% from a year earlier, and a GAAP net loss of $0.08 per diluted share, compared with net income of $0.16 per share in the prior-year quarter. The loss reflects a one-time $10 million debt issuance cost write-off, while adjusted net income per diluted share was flat at $0.48 and the company left its fiscal 2024 outlook unchanged.
Revenue was $106 million, down 3%; gross profit margin rose 130 basis points to 57.6%.
Net loss per diluted share was $0.08, including a $0.26 impact from a term loan debt issuance cost write-off, versus net income of $0.16 a year earlier.
Adjusted net income per diluted share was $0.48, flat year over year; Adjusted EBITDA was $23 million, flat.
For the second fiscal quarter, revenue is estimated at $105 million to $109 million; fiscal 2024 outlook is unchanged.
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Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Digi International filing is on SEC EDGAR ↗. 8-K briefs of other companies →