DGII - Digi International beats Q3 top and bottom line estimates; initiates Q4 outlook

2023-08-03 08:14:14 ET

• Digi International press release ( NASDAQ: DGII ): Q3 Non-GAAP EPS of $0.50 beats by $0.03 .
• Revenue of $112M (+7.7% Y/Y) beats by $2.45M .
• Adjusted EBITDA was $24 million, an increase of 16%.
• Annualized Recurring Revenue was $104 million at quarter end, an increase of 13%.
• Outlook: For the fourth fiscal quarter of 2023, we expect revenue of $108 million to $112 million, or growth of 2% to 6% year-over-year vs. consensus of $111.54M. Adjusted EBITDA is expected to be between $23.0 million and $24.0 million. Adjusted EPS is expected to be $0.46 to $0.49 per diluted share vs. consensus of $0.49, assuming a weighted average share count of 37.3 million shares.

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