Digi International Files 2024 10-K
Ticker: DGII · Form: 10-K · Filed: Nov 22, 2024 · CIK: 854775
| Field | Detail |
|---|---|
| Company | Digi International INC (DGII) |
| Form Type | 10-K |
| Filed Date | Nov 22, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $31.93, $24 million, $92 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
DGII 2024 10-K is IN. Full year financials out, check it.
AI Summary
Digi International Inc. filed its 10-K for the fiscal year ending September 30, 2024, reporting on its financial performance and business operations. The company, headquartered in Hopkins, MN, is involved in computer communications equipment. Key financial data and business segments are detailed within the filing, providing a comprehensive overview for investors and stakeholders.
Why It Matters
This filing provides a detailed look at Digi International's financial health and strategic direction for the past fiscal year, crucial for investors assessing the company's performance and future prospects.
Risk Assessment
Risk Level: medium — As a public company filing its annual report, there are inherent risks associated with financial performance, market conditions, and competitive pressures detailed within the 10-K.
Key Numbers
- 36,582,896 — Shares Outstanding (Indicates the total number of shares available for trading as of the filing date.)
- USD — Currency (Specifies the currency used for financial reporting.)
Key Players & Entities
- DIGI INTERNATIONAL INC (company) — Filer
- 0000854775 (company) — Central Index Key
- 3576 (company) — Standard Industrial Classification Code
- Hopkins, MN (location) — Business Address City and State
- 9350 Excelsior Blvd. (location) — Business Address Street
- 0930 (date) — Fiscal Year End
- 2024-09-30 (date) — Reported Fiscal Year End
- 2024-11-22 (date) — Filing Date
FAQ
What were Digi International's total net sales for the fiscal year ending September 30, 2024?
The filing indicates 'us-gaap:SalesRevenueNetMember' for the period 2023-10-01 to 2024-09-30, but the specific dollar amount is not provided in this snippet.
What is the company's Standard Industrial Classification (SIC) code?
The SIC code for Digi International Inc. is 3576, categorized under COMPUTER COMMUNICATIONS EQUIPMENT.
Where is Digi International Inc. headquartered?
Digi International Inc. is headquartered in Hopkins, MN, with its business address at 9350 Excelsior Blvd., Suite 700.
When did Digi International Inc. file its 10-K report?
The 10-K report was filed on November 22, 2024.
What is the fiscal year end for Digi International Inc.?
The fiscal year end for Digi International Inc. is September 30.
Filing Stats: 4,393 words · 18 min read · ~15 pages · Grade level 14.5 · Accepted 2024-11-22 13:12:37
Key Financial Figures
- $31.93 — .13 billion based on a closing price of $31.93 per common share as reported on the Nas
- $24 million — ing Revenue ("ARR") of this segment was $24 million. Please see "Key Business Metrics" sect
- $92 million — er 30, 2024 the ARR of this segment was $92 million. We have long-term high organic growth
Filing Documents
- dgii-20240930.htm (10-K) — 1815KB
- dgii-ex10l_2024930x10xk.htm (EX-10.L) — 14KB
- dgii-ex19insidertradingpol.htm (EX-19) — 57KB
- dgii-ex21_2024930x10xk.htm (EX-21) — 9KB
- dgii-ex23a_2024930x10xk.htm (EX-23.A) — 2KB
- dgii-ex23b_2024930x10xk.htm (EX-23.B) — 2KB
- dgii-ex24_2024930x10xk.htm (EX-24) — 20KB
- dgii-ex31a_2024930x10k.htm (EX-31.A) — 10KB
- dgii-ex31b_2024930x10k.htm (EX-31.B) — 9KB
- dgii-ex32_2024930x10k.htm (EX-32) — 9KB
- dgii-ex97_2024930x10xk.htm (EX-97) — 32KB
- dgii-20240930_g1.jpg (GRAPHIC) — 8KB
- dgii-20240930_g2.jpg (GRAPHIC) — 89KB
- image_0.jpg (GRAPHIC) — 6KB
- 0000854775-24-000033.txt ( ) — 10301KB
- dgii-20240930.xsd (EX-101.SCH) — 57KB
- dgii-20240930_cal.xml (EX-101.CAL) — 95KB
- dgii-20240930_def.xml (EX-101.DEF) — 381KB
- dgii-20240930_lab.xml (EX-101.LAB) — 851KB
- dgii-20240930_pre.xml (EX-101.PRE) — 632KB
- dgii-20240930_htm.xml (XML) — 1480KB
Risk Factors
ITEM 1A. Risk Factors 6
Unresolved Staff Comments
ITEM 1B. Unresolved Staff Comments 18
Cybersecurity
ITEM 1C. Cybersecurity 18
Properties
ITEM 2. Properties 19
Legal Proceedings
ITEM 3. Legal Proceedings 19
Mine Safety Disclosures
ITEM 4. Mine Safety Disclosures 19 PART II.
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 20
[Reserved]
ITEM 6. [Reserved] 21
Management's Discussion and Analysis of Financial Condition and Results of Operations
ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 22
Quantitative and Qualitative Disclosures About Market Risk
ITEM 7A. Quantitative and Qualitative Disclosures About Market Risk 33
Financial Statements and Supplementary Data
ITEM 8. Financial Statements and Supplementary Data 34
Changes in and Disagreements with Accountants On Accounting and Financial Disclosure
ITEM 9. Changes in and Disagreements with Accountants On Accounting and Financial Disclosure 64
Controls and Procedures
ITEM 9A. Controls and Procedures 65
Other Information
ITEM 9B. Other Information 67 PART III.
Directors, Executive Officers and Corporate Governance
ITEM 10. Directors, Executive Officers and Corporate Governance 67
Executive Compensation
ITEM 11. Executive Compensation 68
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
ITEM 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 68
Certain Relationships and Related Transactions, and Director Independence
ITEM 13. Certain Relationships and Related Transactions, and Director Independence 68
Principal Accounting Fees and Services
ITEM 14. Principal Accounting Fees and Services 68 PART IV.
Exhibits and Financial Statement Schedules
ITEM 15. Exhibits and Financial Statement Schedules 69
Form 10-K Summary
ITEM 16. Form 10-K Summary 72 i Table of Contents PART I.
BUSINESS
ITEM 1. BUSINESS General Background and Product Offerings Digi International Inc. ("Digi ," "we," "our," or "us") was incorporated in 1985 as a Minnesota corporation. We reorganized as a Delaware corporation in 1989 in conjunction with our initial public offering. Our common stock trades on the Nasdaq Global Select Market tier of the Nasdaq Stock Market LLC (the "Nasdaq") under the symbol DGII. Our World Headquarters is located at 9350 Excelsior Blvd., Suite 700, Hopkins, Minnesota 55343. The telephone number at our World Headquarters is (952) 912-3444. We are a leading global provider of business and mission-critical Internet of Things ("IoT") connectivity products, services and solutions. We help our customers deploy, monitor and manage critical communications infrastructures that deliver important information in demanding environments with high levels of security and reliability. We have two reportable segments under applicable accounting standards: (i) IoT Products & Services; and (ii) IoT Solutions. Our IoT Products & Services segment offers products and services that help original equipment manufacturers ("OEMs") as well as enterprise and government customers create and deploy secure IoT connectivity solutions. These include embedded and wireless modules, console servers, enterprise and industrial routers as well as other infrastructure management equipment to meet our customers' IoT communication requirements. In addition, this segment provides our customers with device management platform services, as well as other professional services to enable customers to capture and manage data from devices connected to networks. Our IoT Solutions segment consists of our SmartSense by Digi business and our Managed Network–as–a-Service ("MNaaS") business acquired via our November 2021 acquisition of Ventus Wireless, LLC and affiliated entities ("Ventus"). SmartSense by Digi offers wireless temperature and other condition-based monitoring services as well as employee