Digi Int'l (NASDAQ: DGII) reported Q1 EPS of $0.32, $0.26 better than the analyst estimate of $0.06. Revenue for the quarter came in at $73.1 million versus the consensus estimate of $70.16 million.

First Fiscal Quarter 2021 Results Compared to First Fiscal Quarter 2020 Results

• Revenue increased to $73.1 million compared to $62.3 million, an increase of $10.8 million, or 17.4%.
• Net loss per diluted share decreased to ($0.01) compared to net income per diluted share of $0.01. Net loss for the first quarter of fiscal 2021 includes an earn-out adjustment of $5.8 million, or $0.19 per fully diluted common share.
• Adjusted EPS increased to $0.32 per diluted share compared to $0.15 per diluted share, or 113.3%.
• Adjusted EBITDA increased to $13.0 million compared to $6.7 million, an increase of $6.3 million, or 94.8%.

Reconciliations of GAAP and non-GAAP financial measures appear at the end of this release.

"Our fiscal 2021 is off to a strong start, highlighting our model of recurring revenue, growth and profitability," said Ron Konezny, President and Chief Executive Officer. "Our recent organizational change has driven alignment, focus, and sharpened our dedication to our customers. We are excited to see our IoT Solutions business help ensure the safe distribution of leading vaccines. Digi’s core value proposition of enabling secure, automated, and zero touch applications has never been more relevant."

For earnings history and earnings-related data on Digi Int'l (DGII) click here.