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Dec 31, 2021
Digi Q1 2022 Earnings Report
Reported record quarterly revenues and profits, aided by the Ventus acquisition.
Key Takeaways
Digi International reported record revenue of $84.3 million for the first fiscal quarter of 2022, a 15% increase year-over-year. Adjusted EPS increased to $0.36 per diluted share, and Adjusted EBITDA increased to $17.0 million. The acquisition of Ventus contributed to the strong performance, with annualized recurring revenue (ARR) increasing to over $88 million.
Revenue increased to $84.3 million, a 15% increase year-over-year.
Adjusted EPS increased to $0.36 per diluted share, a 13% increase year-over-year.
Adjusted EBITDA increased to $17.0 million, a 31% increase year-over-year.
Annualized Recurring Revenue (ARR) increased to over $88 million, a 170% increase year-over-year.
Digi
Digi
Digi Revenue by Segment
Revenue by Segment
IoT Product & Services Revenue
CapyFin.comIoT Solutions Revenue
CapyFin.com Forward Guidance
For the second fiscal quarter of 2022, revenues are estimated to be $87 million to $91 million, representing 13% to 18% growth year-over-year. Adjusted EBITDA is estimated to be $16.3 million to $17.8 million, and Adjusted EPS is anticipated to be $0.33 to $0.37 per diluted share.
Positive Outlook
- Revenues are estimated to be $87 million to $91 million, or 13% to 18% growth year over year.
- Adjusted EBITDA is estimated to be $16.3 million to $17.8 million.
- Adjusted EPS is anticipated to be $0.33 to $0.37 per diluted share.
- Revenue growth between 16.5% and 23% is expected for fiscal year 2022.
- Adjusted EBITDA is expected to grow between 35% to 55% for fiscal year 2022.
Challenges Ahead
- Ongoing supply and freight challenges from the global pandemic impact the ability to meet all customer demand on time.
- Supply chain conditions are expected to improve in the second half of fiscal 2022.
- Uncertainty in predicting the impact of foreign exchange translation.
- Uncertainty in predicting the impact of restructuring.
- Uncertainty in predicting the impact of interest and certain tax related events.
Revenue & Expenses
Visualization of income flow from segment revenue to net income