Digi International Sees Q1 EPS $0.41-$0.45 Vs $0.53 Est.; Revenue $103M-$108M Vs $114.18M Est.
Portfolio Pulse from Benzinga Newsdesk
Digi International has lowered its Q1 EPS forecast to $0.41-$0.45, down from $0.53, and revenue to $103M-$108M, down from $114.18M. The company cites global macroeconomic headwinds and delays in deployment of previously shipped solutions by strategic customers. Despite strong demand, the time to close deals has extended. The company's outlook for fiscal 2024 projects ARR and Adjusted EBITDA to grow 5%, with flat revenue year over year.
November 09, 2023 | 1:07 pm
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Digi International has lowered its Q1 EPS and revenue forecasts, which could negatively impact its stock price in the short term.
The company has lowered its Q1 EPS and revenue forecasts due to global macroeconomic headwinds and delays in deployment of previously shipped solutions. This could lead to a negative sentiment among investors, potentially driving the stock price down in the short term.
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