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Dec 31, 2022
Digi Q1 2023 Earnings Report
Reported record quarterly revenue and increased ARR.
Key Takeaways
Digi International reported a strong start to fiscal year 2023, with record quarterly revenue of $109 million, driven by robust demand and a gradually easing supply chain. The company's adjusted EPS was $0.48, and ARR reached $96 million at the end of the quarter.
Revenue increased by 30% to $109 million.
Net income per diluted share increased by 433% to $0.16.
Adjusted EPS increased by 33% to $0.48 per diluted share.
ARR increased by 8% to $96 million.
Digi
Digi
Digi Revenue by Segment
Revenue by Segment
IoT Solutions Revenue
CapyFin.com Forward Guidance
The company provides guidance for the second quarter of fiscal year 2023, expecting revenues of $105 million to $109 million and Adjusted EBITDA between $21.0 million and $22.5 million. Adjusted EPS is projected to be $0.42 to $0.46 per diluted share, with a diluted share count of 37.0 million shares outstanding. Revenue growth for FY23 is now expected to be in excess of 10%. ARR and A-EBITDA are expected to grow faster than revenue growth.
Positive Outlook
- Revenue between $105 million and $109 million
- Adjusted EBITDA between $21.0 million and $22.5 million
- Adjusted EPS to be $0.42 to $0.46 per diluted share
- Revenue growth in excess of 10%
- ARR and A-EBITDA to grow faster than revenue growth
Challenges Ahead
- Supply chain challenges
- Macroeconomic conditions
- Impact of foreign exchange translation
- Restructuring
- Interest and certain tax related events