Digi International Inc. (DGII) stock plummeted 10.88% in pre-market trading on Thursday, extending its losses after the company reported disappointing fiscal first-quarter results and provided a weaker-than-expected outlook for the current quarter.
For the first quarter ended December 2024, Digi met analysts' expectations for adjusted earnings per share of $0.50. However, the company's revenue of $103.87 million fell short of the consensus estimate of $104.08 million, representing a 2.1% year-over-year decline.
Looking ahead to the fiscal second quarter, Digi forecast revenue in the range of $102 million to $106 million, slightly below the consensus estimate of $105.32 million. The company's guidance for adjusted EBITDA of $24 million to $25.5 million was also disappointing, though no analyst estimates were available for comparison.
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