Digi International Inc.
Digi International is a leading IoT company that excels at allowing machines to communicate primarily through a cellular network. Historically a hardware and products business, the company recently pivoted by adding software and services to bring more value to Digi customers. Digi is at an inflection point with expectations to end fiscal 2022 with at least $90mm in annual recurring revenue.
IR Website: https://digi.gcs-web.com/
Headquarters: Hopkins, MN
Content provided by Digi International Inc. on 2-10-22.
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Since 1985, Digi International Inc. (Digi) has been a pioneer in wireless communication, forging the future for connected devices and responding to the needs of the people and enterprises that use them.
Before the Internet of Things was a thing, we built M2M and IoT devices, adapted to evolving network standards, and optimized data communications around the most advanced protocols and emerging technologies. From radio frequency modems to gateways, cellular routers, networking devices, embedded system-on-modules (SOM) and single-board computers (SBCs), Digi's solutions have continually grown to serve the full breadth of applications across the IoT landscape.
Today, our IoT offering includes sensor-based solutions, a sophisticated platform for remotely monitoring device deployments of any size, anywhere, as well as professional design, implementation and certification teams to help you carry out your vision, no matter how large or small.
November 2021 acquisition of Ventus materially changed the business, bringing a complete solution to customers with unmanned kiosks such as ATMs and lottery machines. Unlike the competition, Ventus is known for 24/7 service with the goal of 100% uptime – connectivity as a service. Digi currently has 271,000 subscription sites with a monthly ARPU around $25.00.
As supply chains normalize, gross margins should approach 60%, allowing the company to invest materially in future growth while remaining profitable.
Strong history of generating cash from operations and disciplined capital allocation, providing a significant margin of safety vs. peers.
Experienced management team with a track record of outperformance.
Complete, Rapid Roll-out Solutions for Traffic Management from AT&T and Digi Now Available via NASPO
Feb 8, 2022
Digi International Announces Digi IX20 Cellular Router for 450 MHz, Joins 450 MHz Alliance
Jan 31, 2022
President and CEO
Ron Konezny joined our company December, 2014, as President and Chief Executive Officer. Prior to joining us he was Vice President, Global Transportation and Logistics division of Trimble Navigation Limited, a global provider of navigation and range-finding equipment and related solutions. He had served in that role since September 2013. Prior to this position, he served from August 2011 to September 2013 as the General Manager of this division and as the Chief Executive Officer of PeopleNet, Inc., after PeopleNet was acquired by Trimble in 2011. Ron was a founder of PeopleNet where he held a variety of executive positions since 1996, including Chief Technology Officer, Chief Financial Officer, Chief Operating Officer and, from September 2007 through PeopleNet’s acquisition by Trimble, Chief Executive Officer. PeopleNet is a leading provider of telematics solutions for the transportation industry. Ron also presently serves on the board of directors of Atlas Financial Holdings (NASDAQ: AFH).
Ron has extensive experience in the wireless M2M industry working with solutions comprised of hardware and cloud-based applications. He brings extensive leadership experience in corporate strategy, manufacturing, operation, technology, finance and business development to the Board. Ron was the 2009 winner of the Ernst & Young Entrepreneur of the Year® award in the Technology category.
Executive Vice President, Chief Financial Officer, and Treasurer
Jamie Loch is Executive Vice President, Chief Financial Officer (CFO) and Treasurer. He joined Digi in May 2019 with a history of helping businesses drive growth while building strong efficient teams focused on growth and customer value. Prior to Digi, Jamie was CFO for Nilfisk, Inc., a provider of industrial cleaning solutions, where he helped develop strategy and improve profitability while overseeing all finance activities and reporting. Previously, Jamie held a series of executive positions for more than 12 years with Honeywell, including vice president of sales and CFO for Honeywell Building Solutions America’s division. Jamie is a CPA (inactive) and a graduate of Carleton College, with a Bachelor of Arts in economics.
Senior Vice President, General Manager, Cellular Routers
Justin Schmid is Senior Vice President and General Manager of the Cellular division at Digi, joining Digi in August 2021. Justin has more than 30 years of experience in high tech, including 20-plus years in commercial wireless M2M/IoT and data communications. Through a series of leadership positions at start-ups, late-stage private firms, and established public corporations, Justin was instrumental in significant market and business growth and deeply involved in key corporate transformations. He has built and led teams focused on sales, marketing, business development, product management, corporate development, and strategy as well as product development, program management, systems engineering and operations.
Before joining Digi, Justin was the senior vice president and general manager for CalAmp’s LoJack Global business unit, an approximate $100 million business focused on the connected-car market. Earlier, Justin was senior vice president and general manager of CalAmp’s Telematics Systems business unit, an over $300 million business comprising roughly 85% of CalAmp’s total revenue. Earlier, Justin held executive leadership positions at Xirgo Technologies and Sierra Wireless focused on the AirLink business.
Justin holds has a Bachelor of Science degree in electrical engineering from the University of California – Santa Barbara.
Senior Vice President, General Manager, SmartSense by Digi
Guy Yehiav is Senior Vice President and General Manager of SmartSense by Digi. A highly respected industry thought leader and keynote speaker who over his 25-year career has built world-class technology companies like Demantra and Profitect, he leads the company’s overall strategy, direction, development and implementation of its enterprise software solutions. Yehiav’s expertise spans mergers and acquisitions, strategic product portfolio planning, B2B enterprise software solutions, SaaS metrics, conflict management, profit and loss and AI and IoT solutions across retail, supply chain, CPG and complex manufacturing.
Prior to SmartSense by Digi, he served as General Manager and Vice President of Zebra Technologies’ Zebra Analytics, where he set the organic and non-organic growth, M&A, leadership strategy and customer success for the Zebra Analytics business unit. Prior to Zebra Analytics, he served as CEO of Profitect before it was acquired by Zebra Technologies in 2019. He also held multiple senior leadership positions at Oracle and was a founder and executive board member of Demantra, which was acquired by Oracle in 2006. Yehiav holds a bachelor’s degree in computer science and industrial management from Shenkar College of Israel and an MBA in entrepreneurship from Babson College. He is fluent in English, French and Hebrew, which enables him to work with a diverse range of clients from Israel, Europe, APAC and the United States while taking the needs of different cultures into account.
Senior Vice President, General Manager, Ventus
Steve Glaser joins Digi as Senior Vice President and General Manager of the newly acquired Ventus, where he has been serving in dual leadership roles as CFO and COO since 2010. Prior to that, he spent over a decade in private CPA practice focused on accelerating strategic growth, enhancing profits, optimizing controls, and creating customized infrastructure for companies across a wide variety of business sectors. Earlier in his career, he held tenures at global corporations Touche Ross and PepsiCo, as well as consulting and leadership roles at private startups and midsized companies. Steve is a certified CPA and holds an MBA from the University of Connecticut, and a BBA from the University of Massachusetts at Amherst. He is an avid skier, a passionate vegetable gardener, and a lifelong DIYer.
Senior Vice President, General Manager, Opengear
Gary Marks is Senior Vice President and General Manager, Opengear. Gary has led Opengear since 2014 in the role of CEO until the its acquisition by Digi International in December 2019. Prior to joining Opengear, Gary was the SVP Global Sales and Marketing for Raritan, a power and infrastructure management provider for data centers and remote sites. . In addition, Gary has held senior leadership positions with Dialogic (acquired by Intel), Conner Peripherals (acquired by Seagate), Western Digital and AT&T. Gary is a 30-year veteran of the technology, storage and telecommunications industries, with a track record of successfully guiding major expansion efforts, turnarounds and strategic partnerships. Gary holds a Bachelor of Business Administration from the University of Miami and an MBA in Finance from Fairleigh Dickinson University.
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Digi International Inc. (the “Company”) and its counsel have reviewed the content of this page as well as the accompanying presentation (“Company Presentation”) displayed on this page. To the best of its knowledge, the Company does not believe this content to be misleading or inaccurate in any material respect, nor does it believe there are any material omissions with respect to such content. The Company does not believe the contents of the page or the Company Presentation to contain any non-public material information.
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