Digi International announced its financial results for the fourth fiscal quarter ended September 30, 2024, reporting total revenue of $105.05 million, a 6.2% decrease year-over-year. Despite the revenue decline, the company's adjusted earnings per share reached $0.52, surpassing the consensus estimate of $0.50.
For the full fiscal year 2024, total revenue was $424 million, a 4.7% decrease from the prior fiscal year. The company achieved a record end-of-quarter Annualized Recurring Revenue (ARR) of $116 million, marking a 9% increase year-over-year and representing approximately 27% of total revenues. Full-year cash flow from operations was $83 million.
Consolidated gross profit margin for Q4 2024 expanded by 400 basis points year-over-year to 61.1%, driven by a favorable mix in one-time sales. Adjusted EBITDA for the quarter increased by 5% year-over-year to $26 million, reflecting improved profitability and disciplined cost management.
Looking ahead, Digi International provided guidance for fiscal year 2025, projecting ARR to grow approximately 10%, while revenue and Adjusted EBITDA are expected to be flat year-over-year. For the first fiscal quarter of 2025, revenues are estimated to be between $102 million and $106 million, with adjusted net income per share anticipated between $0.46 and $0.50.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.