- Digi International press release ( NASDAQ: DGII ): Q1 Non-GAAP EPS of $0.48 beats by $0.06 .
- Revenue of $109.31M (+29.7% Y/Y) beats by $6.24M .
- Gross profit margin was 56.3% versus 56.8%. Gross profit margin excluding amortization was 57.3% compared to 58.5%.
- Adjusted EBITDA was $23M, an increase of 38%.
- Annualized Recurring Revenue was $96M at quarter end, an increase of 8%.
- Second Fiscal Quarter 2023 and Full-Year 2023 Guidance : We expect to see Q2 revenues of $105 million to $109 million vs. consensus of $104.53M, with Adjusted EBITDA between $21.0 million and $22.5 million. Using a diluted share count of 37.0 million shares outstanding, we project our Adjusted EPS to be $0.42 to 0.46 per diluted share vs. consensus of $0.45.
- "Based on our first fiscal quarter performance and second fiscal quarter guidance, we have stronger confidence in our annual projections for FY23. We now expect to grow revenues in excess of 10% as the supply chain continues to ease and demand remains strong. We expect ARR and A-EBITDA to grow faster than our revenue growth."
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Digi International reports Q1 earnings beat; initiates Q2 and FY23 guidance