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Digi International Inc (DGII) SEC Filing 10-K Annual Report for the fiscal year ending Friday, September 30, 2022

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DGII Annual Reports

Digi International Inc

CIK: 854775 Ticker: DGII
Exhibit 99.1
digilogoregistereda05.jpg

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, MN, November 10, 2022)
- Digi 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.

Fourth Fiscal Quarter 2022 Results Compared to Fourth Fiscal Quarter 2021 Results1

Revenue was $106 million, an increase of 34%.

Gross profit margin was 55.8% versus 53.9%. Gross profit margin excluding amortization was 57.0% compared to 55.4%.

Net income per diluted share was $0.31 from $0.13, an increase of 138%.

Adjusted EPS was $0.45 per diluted share, an increase of 80%.

Adjusted EBITDA was $22 million, an increase of 82%.

Annualized Recurring Revenue (ARR) was over $94 million at quarter end, an increase of 149%.

Full Year Fiscal 2022 Results Compared to Full Year Fiscal 2021 Results1

Revenue was $388 million, an increase of 26%.

Gross profit margin was 55.7% versus 54.0%. Gross profit margin excluding amortization was 57.1% compared to 55.5%.

Net income per diluted share was $0.54 from $0.31, an increase of 74%.

Adjusted EPS was $1.66 per diluted share, an increase of 54%.

Adjusted EBITDA was $79 million , an increase of 65%.

1 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.

Reconciliations of GAAP and non-GAAP financial measures appear at the end of this release.

“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.”



The following information was filed by Digi International Inc (DGII) on Thursday, November 10, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Digi International Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
(Financial Assets And Liabilities) (Details)
Acquisitions
Acquisitions (Assets Acquired And Liabilities Assumed) (Details)
Acquisitions (Tables)
Acquisitions Details (Details)
Commitments And Contingencies
Contingencies Contingencies (Details)
Debt
Debt (Tables)
Debt - Narrative (Details)
Debt - Schedule Of Long-Term Debt (Details)
Debt Schedule Of Maturities Of Long-Term Debt (Details)
Employee Benefit Plans
Employee Benefit Plans (Details)
Equity
Equity (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Reconciliation Of Liability) (Details)
Fair Value Measurements (Tables)
Goodwill And Other Identifiable Intangible Assets (Amortization Expense) (Details)
Goodwill And Other Identifiable Intangible Assets (Details)
Goodwill And Other Identifiable Intangible Assets (Goodwill) (Details)
Goodwill And Other Identifiable Intangible Assets (Tables)
Income Taxes
Income Taxes (Deferred Tax Assets) (Details)
Income Taxes (Details)
Income Taxes (Effective Income Tax Rate Reconciliation) (Details)
Income Taxes (Income Tax Provision) (Details)
Income Taxes (Income Taxes) (Details)
Income Taxes (Tables)
Income Taxes (Unrecognized Tax Benefits) (Details)
Income Taxes (Unrecognized Tax Benefits, Additional Information) (Details)
Leases
Leases (Tables)
Leases - Lease Cost (Details)
Leases - Maturity Of Operating Lease Liability (Details)
Leases - Other Information (Details)
Leases - Supplemental Balance Sheet (Details)
Product Warranty Obligation
Product Warranty Obligation (Details)
Product Warranty Obligation (Tables)
Restructuring
Restructuring (Details)
Restructuring (Tables)
Revenue
Revenue (Tables)
Revenue - Additional Information (Details)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Performance Obligations (Details)
Revenue - Unearned Revenue (Details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Segment Information And Major Customers
Segment Information And Major Customers (Tables)
Segment Information And Major Customers Expended For Property, Plant And Equipment By Segment (Details)
Segment Information And Major Customers Geographic Revenue (Details)
Segment Information And Major Customers Net Property, Equipment And Improvements By Geographic Area (Details)
Segment Information And Major Customers Summary Of Operating Results By Segment (Details)
Segment Information And Major Customers Total Assets By Segment (Details)
Selected Balance Sheet Data
Selected Balance Sheet Data (Details)
Selected Balance Sheet Data (Tables)
Stock-Based Compensation
Stock-Based Compensation (Details)
Stock-Based Compensation (Exercise Price Range) (Details)
Stock-Based Compensation (Fair Value Assumptions) (Details)
Stock-Based Compensation (Non-Vested Options) (Details)
Stock-Based Compensation (Options And Common Shares Reserved For Grant) (Details)
Stock-Based Compensation (Stock-Based Compensation Expense) (Details)
Stock-Based Compensation (Tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Allowance For Credit Losses) (Details)
Summary Of Significant Accounting Policies (Foreign Currency Translation) (Details)
Summary Of Significant Accounting Policies (Goodwill) (Details)
Summary Of Significant Accounting Policies (Identifiable Intangible Assets) (Details)
Summary Of Significant Accounting Policies (Net Income Per Common Share) (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Property, Equipment And Improvements, Net) (Details)
Summary Of Significant Accounting Policies (Revenue Recognition) (Details)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies (Warranty) (Details)
Ticker: DGII
CIK: 854775
Form Type: 10-K Annual Report
Accession Number: 0000854775-22-000028
Submitted to the SEC: Wed Nov 23 2022 12:02:16 PM EST
Accepted by the SEC: Wed Nov 23 2022
Period: Friday, September 30, 2022
Industry: Computer Communications Equipment

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