Digi International

Communications Technology cloud platforms communication equipment developer tools internet of things wireless

Digi International is a global provider of business and mission-critical machine-to-machine (M2M) and Internet of Things (IoT) connectivity products and services. The Company helps its customers create next-generation connected products and deploy and manage critical communications infrastructures in demanding environments with high levels of security and reliability. Digi creates secure, easy to implement embedded solutions and services to help customers build IoT connectivity. The Company also deploys ready to use, complete box solutions to connect remote machinery. In addition, it manages cloud services, offers professional services and complete IoT solutions, offers automated wireless temperature monitoring as well as employee task management services to restaurants, convenience stores, warehouses and other businesses that have perishable or temperature sensitive goods.

Revenue(FY, 2017)

$181.6 M

Market capitalization(2018-06-22)

$374.7 M

Customers(Jun, 2017)

$25 K

Type

Public

Minnetonka, US

Founded

1985

Size (employees)

514 (est)

Website

digi.com

Digi International was founded in 1985 and is headquartered in Minnetonka, US

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Key People/Management at Digi International

Ron Konezny

President and CEO

Gokul Hemmady

SVP, CFO and Treasurer

Kevin Riley

SVP, Chief Operating Officer

Scott Nelson

VP of Product

Jon Nyland

VP of Manufacturing Operations

Tracy Roberts

VP of Technology Services, CIO

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Digi International Office Locations

Digi International has an office in Minnetonka

Minnetonka, US (HQ)

11001 Bren Rd E

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Digi International Financials and Metrics

Digi International Financials

Digi International's revenue was reported to be $181.63 m in FY, 2017

Summary

USD
Revenue (Q2, 2018)	100 m
Gross profit (Q2, 2018)	48.6 m
Gross profit margin (Q2, 2018), %	48.6%
Net income (Q2, 2018)	(4.9 m)
EBIT (Q2, 2018)	(1.6 m)
Market capitalization (22-Jun-2018)	374.7 m
Closing share price (22-Jun-2018)	13.8
Cash (31-Mar-2018)	52.4 m

Digi International's current market capitalization is $374.7 m.

Source: SEC Filings

Income Statement

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Revenue	195.4 m	192.7 m	212.9 m	203 m	181.6 m
Revenue growth, %		(1%)	10%	(5%)
Cost of goods sold	95.3 m	102.2 m	114.8 m	103.3 m	94.5 m
Gross profit	100.1 m	90.5 m	98 m	99.7 m	87.2 m

Quarterly

USD	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018	Q2, 2018
Revenue	47.3 m	45.9 m	47.9 m	48.7 m	53.2 m	54.5 m	50.3 m	50.2 m	52.1 m	45.2 m	45.6 m	45.7 m	45.2 m	100 m
Cost of goods sold	24.4 m	24.1 m	25.7 m	26.8 m	29.1 m	29.2 m	25.9 m	25.4 m	26.2 m	23.7 m	23.7 m	23.3 m	23.3 m	51.4 m
Gross profit	22.9 m	21.8 m	22.1 m	21.9 m	24.1 m	25.3 m	24.4 m	24.7 m	26 m	21.5 m	21.9 m	22.5 m	21.9 m	48.6 m
Gross profit Margin, %	48%	47%	46%	45%	45%	46%	48%	49%	50%	47%	48%	49%	49%	49%

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Source: SEC Filings

Balance Sheet

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Cash	41.3 m	47.5 m	45 m	75.7 m	78.2 m
Accounts Receivable	26.8 m	28.6 m	29.2 m	28.7 m	28.9 m
Inventories	26.1 m	31.2 m	31.9 m	26.3 m	30.2 m
Current Assets	149.3 m	147.7 m	160.2 m	195.6 m	174.4 m

Quarterly

USD	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018	Q2, 2018
Cash	50.5 m	43.6 m	55.9 m	45 m	45.7 m	53.8 m	52.2 m	67.3 m	61.1 m	81.1 m	71.9 m	92.1 m	45.6 m	52.4 m
Accounts Receivable	23.8 m	25.9 m	24.7 m	23.3 m	28.6 m	24.4 m	24.9 m	28.6 m	28.5 m	28 m	28.7 m	28.6 m	30.3 m	39.8 m
Inventories	30.5 m	30.6 m	30.5 m	33.4 m	33.9 m	34.7 m	30.1 m	25.7 m	26 m	24.3 m	30.5 m	33 m	31.1 m	39.7 m
Current Assets	160.7 m	153.8 m	151.9 m	142.9 m	155.6 m	156.4 m	165.1 m	176.9 m	186 m	192 m	173.6 m	176.5 m	140 m	140.3 m

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Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Net Income	5.8 m	1.8 m	6.6 m	16.7 m	9.4 m
Inventories	(3 m)	(6 m)	(1.9 m)	4 m	(4.5 m)
Accounts Payable	1.4 m	970 k	(3.8 m)	1.6 m	(3.5 m)
Cash From Operating Activities	11.7 m	1.8 m	14.1 m	27.1 m	2.5 m

Quarterly

USD	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q1, 2018	Q2, 2018
Net Income	688 k	738 k	(101 k)	(339 k)	1.4 m	2.5 m	6.5 m	2.1 m	4.3 m	2.4 m	1.3 m	(4.6 m)	(4.9 m)
Inventories						34.7 m	30.1 m	25.7 m	26 m	24.3 m	30.5 m
Accounts Payable						7 m	6.9 m	7.3 m	8.7 m	7.9 m	10.8 m
Cash From Operating Activities												(1.3 m)	(5 m)

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Ratios

USD	Y, 2018
Financial Leverage	1.1 x

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Digi International Operating Metrics

Digi International's Backlog was reported to be $25.3m in FY, 2016. Digi International's Customers was reported to be 25 k in Jun, 2017.

	FY, 2014	FY, 2015	FY, 2016	Jun, 2017
Backlog	$26.20 m	$27.20 m	$25.30 m
Customers				25 k
Partners				250
Patents and Patent Applications				111

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Digi International Acquisitions / Subsidiaries

Acquired Company	Date	Deal Size
Accelerated Concepts (32)	January 22, 2018	$17 m

Digi International Revenue Breakdown

Business Segment

Embed Graph

Digi International revenue breakdown by business segment: 24.7% from Cellular routers and gateways, 29.2% from Network, 28.8% from Embedded and 17.3% from Radio Frequency (RF)

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