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Digi International Inc. provides business and mission-critical Internet of Things (IoT) connectivity products, services, and solutions in the United States, Europe, the Middle East, Africa, and internationally. It operates through IoT Products & Services, and IoT Solutions segments. The company offers cellular routers for mission-critical wireless connectivity; cellular modules to embed cellular communications abilities into the products to deploy and manage intelligent and secure cellular connected products; console servers to provide secure and remote access to network equipment in data centers and at edge locations; and radio frequency products, including embedded wireless modules, off-the-shelf gateways, modems, and adapters under the Digi XBee brand. It also provides embedded system products under the Digi Connect, and ConnectCore brands; and infrastructure management products comprising serial servers, which offers serial port-to-Ethernet integration of devices into wired Ethernet networks; and universal serial bus solutions. In addition, it provides Digi Remote Manager and Lighthouse, a recurring revenue cloud-based service that offers a secure environment for customers to manage connected device deployment and network devices; SmartSense by Digi for monitoring wirelessly the temperature of food and other perishable or sensitive goods, monitoring facilities or pharmacies by tracking the completion of operating tasks by employees, and quality control and incident management in food service, healthcare, and transportation/logistics industries; and Ventus for MNaaS solutions. Further, the company provides professional services, such as site planning, implementation management, application development, and customer training; data plan subscriptions; and enhanced technical support services, as well as Digi Wireless Design Services. Digi International Inc. was incorporated in 1985 and is headquartered in Hopkins, Minnesota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $430M | $90M | $41M | $105M | 6.4% | 1.5% | 81.3% |
| 2024 | $424M | $72M | $23M | $81M | 3.9% | -4.7% | -9.1% |
| 2023 | $445M | $84M | $25M | $32M | 4.6% | 14.6% | 27.8% |
| 2022 | $388M | $76M | $19M | $36M | 3.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 388.22 | 444.85 | 424.05 | 430.22 |
| Operating Revenue | - | 388.22 | 444.85 | 424.05 | 430.22 |
| Cost Of Revenue | - | 171.94 | 192.65 | 174.14 | 159.54 |
| Gross Profit | - | 216.29 | 252.20 | 249.91 | 270.68 |
| Operating Expense | - | 184.27 | 202.11 | 201.82 | 214.39 |
| Research And Development | - | 55.10 | 58.65 | 60.29 | 63.66 |
| Selling General And Administration | - | 129.17 | 143.46 | 141.53 | 150.73 |
| Total Expenses | - | 356.20 | 394.75 | 375.96 | 373.93 |
| Operating Income | - | 32.02 | 50.10 | 48.09 | 56.29 |
| Total Operating Income As Reported | - | 38.22 | 50.10 | 48.09 | 56.29 |
| EBITDA | - | 75.89 | 84.11 | 71.89 | 90.48 |
| Normalized EBITDA | - | 69.69 | 84.11 | 81.61 | 90.48 |
| EBIT | - | 38.32 | 50.15 | 38.27 | 56.24 |
| Interest Income | 0.01 | 0.01 | - | - | - |
| Interest Expense | - | 19.69 | 25.24 | 15.42 | 6.32 |
| Net Interest Income | - | -19.69 | -25.24 | -15.42 | -6.32 |
| Other Non Operating Income Expenses | - | 0.10 | 0.06 | -0.09 | -0.05 |
| Other Income Expense | - | 6.30 | 0.06 | -9.82 | -0.05 |
| Interest Income Non Operating | 0.01 | 0.01 | - | - | - |
| Interest Expense Non Operating | - | 19.69 | 25.24 | 15.42 | 6.32 |
| Net Non Operating Interest Income Expense | - | -19.69 | -25.24 | -15.42 | -6.32 |
| Pretax Income | - | 18.63 | 24.92 | 22.86 | 49.92 |
| Tax Provision | - | -0.76 | 0.15 | 0.35 | 9.11 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 1.30 | 0 | -0.15 | 0 |
| Net Income Continuous Operations | - | 19.38 | 24.77 | 22.50 | 40.80 |
| Net Income From Continuing And Discontinued Operation | - | 19.38 | 24.77 | 22.50 | 40.80 |
| Net Income From Continuing Operation Net Minority Interest | - | 19.38 | 24.77 | 22.50 | 40.80 |
| Net Income | - | 19.38 | 24.77 | 22.50 | 40.80 |
| Net Income Common Stockholders | - | 19.38 | 24.77 | 22.50 | 40.80 |
| Net Income Including Noncontrolling Interests | - | 19.38 | 24.77 | 22.50 | 40.80 |
| Normalized Income | - | 14.48 | 24.77 | 32.08 | 40.80 |
| Diluted NI Availto Com Stockholders | - | 19.38 | 24.77 | 22.50 | 40.80 |
| Basic Average Shares | - | 35.03 | 35.82 | 36.32 | 36.96 |
| Diluted Average Shares | - | 35.99 | 36.87 | 36.98 | 37.74 |
| Reconciled Depreciation | - | 37.57 | 33.96 | 33.62 | 34.24 |
| Reconciled Cost Of Revenue | - | 171.94 | 192.65 | 174.14 | 159.54 |
| Total Unusual Items | - | 6.20 | 0 | -9.72 | 0 |
| Total Unusual Items Excluding Goodwill | - | 6.20 | 0 | -9.72 | 0 |
| Special Income Charges | - | 6.20 | 0 | -9.72 | 0 |
| Other Special Charges | - | - | - | 9.72 | - |
| Restructuring And Mergern Acquisition | 5.77 | -6.20 | 0 | 0 | - |
| General And Administrative Expense | - | 58.80 | 61.78 | 58.25 | 58.89 |
| Other Gand A | - | 58.80 | 61.78 | 58.25 | 58.89 |
| Selling And Marketing Expense | - | 70.37 | 81.68 | 83.28 | 91.83 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Digi International Inc.this co. | DGII | $2.6B | 63.99↑ premium | 4.10 | 6.4% | 30.51 |
| Diebold Nixdorf, Incorporated | DBD | $2.8B | 30.12 | 2.59 | 8.6% | 10.11 |
| Q2 Holdings, Inc. | QTWO | $2.8B | 53.98 | 4.24 | 7.9% | 24.54 |
| Cohu, Inc. | COHU | $2.6B | -35.49 | 3.36 | -9.5% | -283.09 |
| Rogers Corporation | ROG | $2.6B | -42.10 |
| - |
| - |
| - |
| - |
| - |
| 2.18 |
| -5.2% |
| 233.34 |
| Ichor Holdings, Ltd. | ICHR | $2.5B | - | 3.73 | -8.0% | - |
| Calix, Inc. | CALX | $2.4B | 136.74 | 2.85 | 2.1% | 59.89 |
| CSG Systems International, Inc. | CSGS | $2.3B | 41.17 | 8.11 | 19.7% | 13.98 |
| Alarm.com Holdings, Inc. | ALRM | $2.2B | 16.79 | 2.62 | 15.6% | 10.13 |
| Peer Median | - | 30.12 | 3.10 | 5.0% | 13.98 | |