Digi International 公布第四财季和 2021 财年全年业绩

Record Annual Revenue of $309M, ARR grows over 30% to nearly $38M

Full Year EPS of $0.31, Adjusted EPS of $1.08

(Minneapolis, MN, November 10, 2021) - Digi International® Inc. (Nasdaq: DGII), a leading global provider of business and mission critical Internet of Things ("IoT") products, services and solutions, today announced its financial results for its fourth fiscal quarter ended September 30, 2021.

Fourth Fiscal Quarter 2021 Results Compared to Fourth Fiscal Quarter 2020 Results

  • Revenue increased to $79.1 million, or an increase of 8.1%.
  • Gross margin was 53.9% versus 51.3%. Gross margin excluding amortization was 55.4% compared to 52.9%.
  • Net income per diluted share decreased to $0.13, or a decrease of 13.3%.
  • Adjusted EPS decreased to $0.25 per diluted share, or a decrease of 21.9%.
  • Adjusted EBITDA decreased to $12.0 million, or a decrease of 0.4%.

Full Year Fiscal 2021 Results Compared to Full Year Fiscal 2020 Results

  • Revenue increased to $308.6 million, or an increase of 10.5%.
  • Gross margin was 54.0% versus 51.6%. Gross margin excluding amortization was 55.5% compared to 53.2%.
  • Net income per diluted share increased to $0.31, or an increase of 10.7%.
  • Adjusted EPS increased to $1.08 per diluted share, or an increase of 10.2%.
  • Adjusted EBITDA increased to $48.3 million, or an increase of 20.1%.

本新闻稿末尾载有 GAAP 和非 GAAP 财务指标的调节表。

“Digi grew revenues over 10% despite unprecedented supply chain challenges,” said Ron Konezny, President and Chief Executive Officer. “Annualized Recurring Revenues growth of 30% demonstrates our relentless dedication to adding more value to our customers’ digital transformations. The addition of Ventus to the Digi family further accelerates our transformation to software, services, and subscription offerings. Digi now provides subscription based services to over 250,000 sites.”

分部业绩

IoT 产品与服务

The segment's fourth fiscal quarter 2021 revenues of $69.9 million increased 8.4% from the same period in the prior fiscal year. This increase is attributable primarily to revenue from our console server products. ARR grew 20% from prior year to $13.7 million. Gross profit margin increased 201 basis points to 53.7% of revenues for the fourth fiscal quarter of 2021, due to product and customer mix.

Full fiscal 2021 revenues of $264.2 million were a record for this segment, increasing 5.9% from the prior fiscal year. This increase is attributable primarily to revenue from our console server, embedded and RF products. Gross profit margin increased 285 basis points to 54.7% of revenues for full fiscal 2021, due to product and customer mix.

IoT 解决方案

The segment's fourth fiscal quarter 2021 revenues of $9.2 million increased 6.3% from the same period in the prior fiscal year. This increase from the prior year fiscal quarter was driven by increased subscription revenue, partially offset by a decrease in one-time revenue. Annualized Recurring Revenue, or ARR, grew 38% from prior year to approximately $24.3 million. Sites that Digi serves grew to 81,000 sites as of September 30, 2021, compared to 70,000 sites as of September 30, 2020. Gross profit margin increased 713 basis points to 55.6%, due to a large concentration of recurring revenue in the fourth quarter. This also demonstrates the value of our high margin recurring revenue business model.

Full fiscal 2021 revenues of $44.5 million increased 49.5% from the prior fiscal year. This increase was due to growth in both one-time and subscription revenues. Gross profit margin increased 73 basis points to 49.9% as a result of a greater mix of recurring revenue compared to the prior fiscal year.

2022 财年指导

The ongoing supply and freight constraints that have arisen from the global pandemic have made short term predictability challenging. Supply chain issues are impacting our ability to meet customer demand in the near term for certain of our products and are expected to impact our results in at least the first two quarters of fiscal 2022. At present, Digi believes supply chain challenges will ease in the second half of our fiscal 2022. These supply chain issues are not indicative of customer demand. In this context, we provide guidance for our first fiscal quarter of 2022, which includes two months of contributions from Ventus. Revenues are estimated to be $81 million to $85 million, or 11% to 16% growth year over year. We provide earnings guidance on a non-GAAP basis as it is difficult to predict with reasonable certainty items including but not limited to the impact of foreign exchange translation, restructuring, interest and certain tax related events. Given the uncertainty, any of these items could have a significant impact on U.S. GAAP results. Adjusted EBITDA is estimated to be $14.0 million to $15.5 million. Adjusted EPS is anticipated to be $0.30 to $0.34 per diluted share.

The acquisition of Ventus, which has a strong subscription revenue base, is anticipated to have a significant impact on Digi’s financial model. While not providing specific guidance for the fiscal year of 2022, we can provide information on how the Digi financial model is projected to perform during fiscal 2022. We believe revenues will grow between 16% and 23%. We expect our Adjusted EBITDA to grow at a faster rate of between 35% to 55% . We expect to see the gains made in our Gross Margins to hold through fiscal 2022, and our ARR to be at least $90 million at the end of fiscal 2022.

Fourth Fiscal Quarter 2021 Conference Call Details

As announced on October 12, 2021, Digi will discuss its fourth fiscal quarter 2021 results on a conference call on Wednesday, November 10, 2021 after market close at 5:00 p.m. ET (4:00 p.m. CT). The call will be hosted by Ron Konezny, President and Chief Executive Officer and Jamie Loch, Chief Financial Officer.

Digi invites all those interested in hearing management's discussion of its quarter to access a live webcast of the conference call through the investor relations section of Digi's website at www.digi.com. Participants may also join the call directly by dialing (855) 638-5675 and entering conference ID 8825628. International participants may access the call by dialing (262) 912-4765 and entering conference ID 8825628. A replay will be available for one week, within approximately three hours after the completion of the call. You may access the replay via webcast through the investor relations section of Digi's website. Or, you may access the replay via phone by dialing (855) 859-2056 for domestic participants or (404) 537-3406 for international participants and entering access code 8825628 when prompted.

您可以通过 Digi 网站 www.digi.com 的 "投资者关系 "部分的 "财务新闻稿 "页面查阅本财报。

有关我们的更多新闻和信息,请访问www.digi.com/aboutus/investorrelations。

关于 Digi International

Digi International(纳斯达克股票代码:DGII)是全球领先的IoT 连接产品、服务和解决方案提供商。我们帮助客户创造下一代连接产品,在高要求环境中部署和管理关键通信基础设施,并提供高水平的安全性和可靠性。公司成立于 1985 年,目前已帮助客户连接了 1 亿多个设备,并且还在不断增长。欲了解更多信息,请访问 Digi 网站 www.digi.com,或致电 877-912-3444(美国)或 952-912-3444(国际)。

前瞻性陈述

This press release contains forward-looking statements that are based on management’s current expectations and assumptions. These statements often can be identified by the use of forward-looking terminology such as "assume," "believe," "anticipate," "intend," "estimate," "target," "may," "will," "expect," "plan," "potential," "project," "should," or "continue," or the negative thereof or other variations thereon or similar terminology. Among other items, these statements relate to expectations of the business environment in which Digi operates, projections of future performance, perceived marketplace opportunities and statements regarding our mission and vision. Such statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions. Among others, these include risks related to the ongoing COVID-19 pandemic and efforts to mitigate the same, risks related to global economic volatility and the ability of companies like us to operate a global business in such conditions, the current supply chain and shipping market pressures that are negatively impacting both manufacturing and distribution timelines as well as operating costs for a wide range of companies globally, the highly competitive market in which our company operates, rapid changes in technologies that may displace products sold by us, declining prices of networking products, our reliance on distributors and other third parties to sell our products, the potential for significant purchase orders to be canceled or changed, delays in product development efforts, uncertainty in user acceptance of our products, the ability to integrate our products and services with those of other parties in a commercially accepted manner, potential liabilities that can arise if any of our products have design or manufacturing defects, our ability to defend or settle satisfactorily any litigation, uncertainty in global economic conditions and economic conditions within particular regions of the world which could negatively affect product demand and the financial solvency of customers and suppliers, the impact of natural disasters and other events beyond our control that could negatively impact our supply chain and customers, potential unintended consequences associated with restructuring, reorganizations or other similar business initiatives that may impact our ability to retain important employees or otherwise impact our operations in unintended and adverse ways, the ability to achieve the anticipated benefits and synergies associated with acquisitions or divestitures and changes in our level of revenue or profitability which can fluctuate for many reasons beyond our control. These and other risks, uncertainties and assumptions identified from time to time in our filings with the United States Securities and Exchange Commission, including without limitation, our Annual Report on Form 10-K for the year ended September 30, 2020 and other filings, could cause our actual results to differ materially from those expressed in any forward-looking statements made by us or on our behalf. Many of such factors are beyond our ability to control or predict. These forward-looking statements speak only as of the date for which they are made. We disclaim any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

非美国通用会计准则财务指标的列报

本新闻稿包括调整后净收入、调整后摊薄后每股净收入和调整后息税折旧摊销前利润(EBITDA),其中每项均为非美国通用会计准则(Non-GAAP)指标。

我们知道,非美国通用会计准则的使用存在重大限制。在分析财务业绩时,非美国通用会计准则(Non-GAAP)指标不能替代净收入等美国通用会计准则(GAAP)指标。这些指标的披露并不反映 Digi 实际确认的所有费用和收益。这些非美国通用会计准则(Non-GAAP)衡量标准不符合公认会计原则,也不能替代按照公认会计原则编制的衡量标准,可能与其他公司使用的非美国通用会计准则(Non-GAAP)衡量标准或我们在以前的报告中提出的衡量标准不同。此外,这些非美国通用会计准则衡量标准并非基于任何一套全面的会计规则或原则。我们认为,非美国通用会计准则衡量标准有其局限性,因为它们不能反映按照美国通用会计准则确定的与我们的运营结果相关的所有金额。我们认为,这些指标只能与相应的公认会计准则指标一起用于评估我们的运营结果。此外,调整后 EBITDA 并不反映我们的现金支出、更换折旧资产和摊销资产的现金需求,也不反映我们营运资金需求的变化或现金需求。

我们相信,在提供历史净利润和调整后净利润以及调整后摊薄后每股净利润时,如果不包括税收准备金转回、离散税收优惠、重组费用及转回、无形资产摊销、股票薪酬、其他营业外收入/支出、或有对价公允价值变动、收购相关费用以及与收购相关的利息支出等项目,投资者就可以将业绩与不包括这些项目的前期进行比较。管理层使用上述非美国通用会计准则衡量标准来监控和评估持续经营业绩和趋势,并了解我们的比较经营业绩。此外,我们的某些股东表示希望看到不包含这些事项影响的财务业绩指标,这些事项虽然重要,但对我们的核心业务运营并不重要。管理层认为,调整后息税折旧摊销前利润(定义为息税折旧摊销前利润,根据股票薪酬费用、收购相关费用、重组费用和转回以及或有对价公允价值变动进行调整)有助于投资者评估我们的核心经营业绩和财务表现,因为它排除了简明合并运营报表中反映的重大非现金或非经常性项目。我们认为,将调整后 EBITDA 按收入百分比列报非常有用,因为它提供了一种可靠、一致的方法来衡量我们每年的业绩,并将我们的业绩与其他公司的业绩进行对比评估。我们相信这一信息有助于比较经营业绩和公司业绩,其中不包括我们的资本结构和资产收购方法的影响。

投资者联系方式:

James J. Loch
高级副总裁、首席财务官兼司库
Digi International
952-912-3737
电子邮件:jamie.loch@digi.com

欲了解更多信息,请访问 Digi 网站 www.digi.com,或致电 877-912-3444(美国)或 952-912-3444(国际)。

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