Digi International reports Q1 adjusted EPS 48c, consensus 44c

Reports Q1 revenue $106.1M, consensus $105.61M. “Double digit ARR growth propelled Digi to reach a milestone of ARR exceeding quarterly revenue for the first time,” said Ron Konezny, President and Chief Executive Officer. “Lowered inventory levels combined with a reduction in debt significantly improved our balance sheet. We are committed to achieving $200M of ARR and $200M of adjusted EBITDA within the next five years.”