NASDAQ$DGII
Digi Intl Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported record quarterly revenue and growth in ARR.
Digi International reported a record quarterly revenue of $111 million, a 17% increase year-over-year, and an end-of-quarter ARR of $99 million, a 10% increase year-over-year. The company's EPS was $0.16, and adjusted EPS was $0.50.
- Record quarterly revenue of $111 million, up 17% year-over-year.
- ARR reached $99 million at quarter end, a 10% increase year-over-year.
- EPS increased to $0.16, a 100% increase year-over-year.
- Adjusted EPS increased to $0.50, a 22% increase year-over-year.
Headline financials
Revenue & EPS history
Digi · Revenue · Quarterly
$111M
Revenue by segment
Digi · $25M total across 1 segment · Q2 2023
- IoT Solutions$25M+7.3%100.0%
Forward guidance
The company expects revenue of $107 million to $111 million for the third quarter of fiscal year 2023, with Adjusted EBITDA between $23.0 million and $24.0 million. Adjusted EPS is projected to be $0.47 to $0.49 per diluted share, using a diluted share count of 37.3 million shares outstanding. The company expects to grow annual revenues at least 12% as the supply chain continues to ease and demand remains strong. They expect ARR and Adjusted EBITDA to grow faster than our revenue growth.
Tailwinds
- Revenue expected between $107 million and $111 million.
- Adjusted EBITDA expected between $23.0 million and $24.0 million.
- Adjusted EPS projected to be $0.47 to $0.49 per diluted share.
- Annual revenues are expected to grow at least 12%.
- ARR and Adjusted EBITDA are expected to grow faster than revenue growth.
Headwinds
- Guidance considers supply chain challenges.
- Guidance considers challenging macro conditions.
- Difficult to predict the impact of foreign exchange translation.
- Difficult to predict the impact of restructuring.
- Difficult to predict the impact of interest and certain tax related events.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+1.6%
Avg return
Earnings day
+3.1%
Avg return
5 days after
+4.0%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+18.2%
Q1 2019
Best reaction
-23.3%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +5.4% | +4.5% | +12.0% | |
| Q1 2026 | -3.9% | -1.1% | +4.9% | |
| Q4 2025 | +6.8% | +7.1% | +26.5% | |
| Q2 2025 | +14.0% | +21.4% | +21.8% | |
| Q1 2025 | +17.3% | +15.5% | -4.9% | |
| Q4 2024 | -2.9% | -5.0% | +1.7% | |
| Q3 2024 | +17.9% | +16.9% | +16.0% | |
| Q2 2024 | -16.8% | -11.9% | -20.5% | |
| Q1 2024 | +10.0% | +13.3% | +18.6% | |
| Q4 2023 | -7.1% | -1.0% | +1.2% | |
| Q3 2023 | -23.3% | -22.4% | -20.6% | |
| Q2 2023 | +8.8% | +9.0% | +26.3% | |
| Q1 2023 | +0.8% | +2.7% | -2.5% | |
| Q4 2022 | +9.5% | +13.6% | +8.2% | |
| Q3 2022 | +13.4% | +9.1% | +7.8% | |
| Q2 2022 | +4.2% | +3.1% | +34.1% | |
| Q1 2022 | -6.7% | -9.5% | -9.8% | |
| Q4 2021 | +10.2% | +6.6% | +7.7% | |
| Q3 2021 | -2.3% | -0.1% | +5.7% | |
| Q2 2021 | -2.0% | -2.0% | +5.5% | |
| Q1 2021 | +17.3% | +28.3% | -9.3% | |
| Q4 2020 | -5.4% | -0.7% | +6.4% | |
| Q3 2020 | +12.3% | +8.6% | +6.7% | |
| Q2 2020 | +14.5% | +5.9% | +10.7% | |
| Q1 2020 | -3.7% | -15.2% | -19.3% | |
| Q4 2019 | +17.5% | +23.2% | +15.1% | |
| Q3 2019 | +4.8% | +10.2% | +4.4% | |
| Q2 2019 | -1.3% | -3.4% | -15.7% | |
| Q1 2019 | +18.2% | +17.7% | +14.0% | |
| Q4 2018 | +13.5% | +6.1% | +0.4% | |
| Q3 2018 | +0.7% | +0.4% | -1.9% | |
| Q2 2018 | -1.3% | +1.3% | +4.8% | |
| Q1 2018 | +1.0% | +0.5% | +2.4% | |
| Q4 2017 | +1.4% | +0.5% | +0.5% | |
| Q3 2017 | -1.0% | +2.5% | -7.2% | |
| Q2 2017 | -13.0% | -18.9% | -19.5% | |
| Q1 2017 | -1.1% | -4.0% | -5.1% | |
| Q4 2016 | -10.6% | -10.1% | +24.9% | |
| Q3 2016 | -1.7% | -3.0% | +3.7% | |
| Q2 2016 | +13.5% | — | — | |
| Q1 2016 | -15.6% | — | — | |
| Q4 2015 | +8.7% | — | — | |
| Q3 2015 | +3.0% | — | — | |
| Q2 2015 | +6.4% | — | — | |
| Q1 2015 | +8.3% | — | — | |
| Q4 2014 | +4.2% | — | — | |
| Q3 2014 | -6.2% | — | — | |
| Q2 2014 | -11.3% | — | — | |
| Q1 2014 | -16.7% | — | — | |
| Q4 2013 | +1.6% | — | — | |
| Q3 2013 | +4.3% | — | — | |
| Q2 2013 | -0.2% | — | — | |
| Q1 2013 | -0.9% | — | — | |
| Q4 2012 | -1.7% | — | — | |
| Q3 2012 | +1.8% | — | — | |
| Q2 2012 | -16.0% | — | — | |
| Q1 2011 | +3.6% | — | — | |
| Q1 2012 | -3.8% | — | — | |
| Q2 2011 | +4.4% | — | — | |
| Q4 2009 | +4.4% | — | — | |
| Q4 2011 | +4.4% | — | — | |
| Q4 2010 | -2.2% | — | — | |
| Q3 2011 | -2.2% | — | — | |
| Q3 2010 | -2.2% | — | — | |
| Q2 2010 | +1.3% | — | — |
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