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Side-by-side financial comparison of DIGI INTERNATIONAL INC (DGII) and James River Group Holdings, Inc. (JRVR). Click either name above to swap in a different company.

James River Group Holdings, Inc. is the larger business by last-quarter revenue ($167.7M vs $122.5M, roughly 1.4× DIGI INTERNATIONAL INC). James River Group Holdings, Inc. runs the higher net margin — 19.1% vs 9.6%, a 9.6% gap on every dollar of revenue. On growth, James River Group Holdings, Inc. posted the faster year-over-year revenue change (32.4% vs 17.9%). DIGI INTERNATIONAL INC produced more free cash flow last quarter ($35.2M vs $-23.6M). Over the past eight quarters, DIGI INTERNATIONAL INC's revenue compounded faster (6.6% CAGR vs -8.7%).

Digi International, Inc. is an American Industrial Internet of Things (IIoT) technology company based in Hopkins, Minnesota. Founded in 1985, they were best known in the early 1990s as a manufacturer of multi-line serial data serial cards for PC clones, allowing these machines to run multi-line bulletin board systems (BBSes). As this market began to wind down with the rise of the internet in the late 1990s, Digi began to concentrate on network attached devices and industrial monitoring.

James River Corporation was an American pulp and paper company based in Richmond, Virginia, once the largest paper manufacturer in the world.

DGII vs JRVR — Head-to-Head

Bigger by revenue
JRVR
JRVR
1.4× larger
JRVR
$167.7M
$122.5M
DGII
Growing faster (revenue YoY)
JRVR
JRVR
+14.5% gap
JRVR
32.4%
17.9%
DGII
Higher net margin
JRVR
JRVR
9.6% more per $
JRVR
19.1%
9.6%
DGII
More free cash flow
DGII
DGII
$58.8M more FCF
DGII
$35.2M
$-23.6M
JRVR
Faster 2-yr revenue CAGR
DGII
DGII
Annualised
DGII
6.6%
-8.7%
JRVR

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
DGII
DGII
JRVR
JRVR
Revenue
$122.5M
$167.7M
Net Profit
$11.7M
$32.1M
Gross Margin
62.4%
Operating Margin
13.3%
14.6%
Net Margin
9.6%
19.1%
Revenue YoY
17.9%
32.4%
Net Profit YoY
16.1%
149.5%
EPS (diluted)
$0.31
$0.59

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
DGII
DGII
JRVR
JRVR
Q4 25
$122.5M
$167.7M
Q3 25
$114.3M
$172.7M
Q2 25
$107.5M
$174.8M
Q1 25
$104.5M
$172.3M
Q4 24
$103.9M
$126.7M
Q3 24
$105.1M
$191.5M
Q2 24
$105.2M
$188.3M
Q1 24
$107.7M
$201.1M
Net Profit
DGII
DGII
JRVR
JRVR
Q4 25
$11.7M
$32.1M
Q3 25
$10.0M
$1.0M
Q2 25
$10.2M
$4.8M
Q1 25
$10.5M
$9.6M
Q4 24
$10.1M
$-64.8M
Q3 24
$11.9M
$-39.4M
Q2 24
$9.7M
$7.6M
Q1 24
$4.0M
$15.4M
Gross Margin
DGII
DGII
JRVR
JRVR
Q4 25
62.4%
Q3 25
63.9%
Q2 25
63.5%
Q1 25
62.1%
Q4 24
62.0%
Q3 24
61.1%
Q2 24
59.2%
Q1 24
57.9%
Operating Margin
DGII
DGII
JRVR
JRVR
Q4 25
13.3%
14.6%
Q3 25
12.5%
1.5%
Q2 25
13.9%
4.2%
Q1 25
13.1%
9.3%
Q4 24
12.9%
-57.0%
Q3 24
14.2%
-27.1%
Q2 24
12.3%
10.7%
Q1 24
7.6%
16.4%
Net Margin
DGII
DGII
JRVR
JRVR
Q4 25
9.6%
19.1%
Q3 25
8.7%
0.6%
Q2 25
9.5%
2.7%
Q1 25
10.0%
5.6%
Q4 24
9.7%
-51.1%
Q3 24
11.3%
-20.6%
Q2 24
9.2%
4.0%
Q1 24
3.7%
7.7%
EPS (diluted)
DGII
DGII
JRVR
JRVR
Q4 25
$0.31
$0.59
Q3 25
$0.26
$-0.02
Q2 25
$0.27
$0.06
Q1 25
$0.28
$0.16
Q4 24
$0.27
$-2.44
Q3 24
$0.32
$-1.10
Q2 24
$0.26
$0.13
Q1 24
$0.11
$0.35

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
DGII
DGII
JRVR
JRVR
Cash + ST InvestmentsLiquidity on hand
$30.9M
$260.9M
Total DebtLower is stronger
$135.0M
Stockholders' EquityBook value
$649.2M
$538.2M
Total Assets
$918.4M
$4.9B
Debt / EquityLower = less leverage
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DGII
DGII
JRVR
JRVR
Q4 25
$30.9M
$260.9M
Q3 25
$21.9M
$238.8M
Q2 25
$20.1M
$220.0M
Q1 25
$26.3M
$279.4M
Q4 24
$25.9M
$362.3M
Q3 24
$27.5M
$359.8M
Q2 24
$28.3M
$672.5M
Q1 24
$23.8M
$305.5M
Total Debt
DGII
DGII
JRVR
JRVR
Q4 25
$135.0M
Q3 25
$159.2M
Q2 25
$40.1M
Q1 25
$70.0M
Q4 24
$95.0M
Q3 24
$123.2M
Q2 24
$151.6M
Q1 24
$171.8M
Stockholders' Equity
DGII
DGII
JRVR
JRVR
Q4 25
$649.2M
$538.2M
Q3 25
$636.1M
$503.6M
Q2 25
$621.5M
$492.6M
Q1 25
$605.2M
$484.5M
Q4 24
$590.7M
$460.9M
Q3 24
$581.0M
$530.3M
Q2 24
$563.1M
$541.8M
Q1 24
$549.6M
$539.5M
Total Assets
DGII
DGII
JRVR
JRVR
Q4 25
$918.4M
$4.9B
Q3 25
$922.6M
$5.0B
Q2 25
$770.3M
$5.0B
Q1 25
$781.0M
$4.9B
Q4 24
$796.1M
$5.0B
Q3 24
$815.1M
$5.0B
Q2 24
$820.4M
$4.7B
Q1 24
$825.3M
$5.3B
Debt / Equity
DGII
DGII
JRVR
JRVR
Q4 25
0.21×
Q3 25
0.25×
Q2 25
0.06×
Q1 25
0.12×
Q4 24
0.16×
Q3 24
0.21×
Q2 24
0.27×
Q1 24
0.31×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
DGII
DGII
JRVR
JRVR
Operating Cash FlowLast quarter
$35.6M
$-18.8M
Free Cash FlowOCF − Capex
$35.2M
$-23.6M
FCF MarginFCF / Revenue
28.7%
-14.1%
Capex IntensityCapex / Revenue
0.4%
2.9%
Cash ConversionOCF / Net Profit
3.04×
-0.59×
TTM Free Cash FlowTrailing 4 quarters
$111.4M
$-17.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DGII
DGII
JRVR
JRVR
Q4 25
$35.6M
$-18.8M
Q3 25
$28.0M
$34.3M
Q2 25
$24.0M
$25.2M
Q1 25
$26.3M
$-51.5M
Q4 24
$29.7M
$-247.1M
Q3 24
$26.4M
$-269.9M
Q2 24
$24.9M
$-8.7M
Q1 24
$13.1M
$24.1M
Free Cash Flow
DGII
DGII
JRVR
JRVR
Q4 25
$35.2M
$-23.6M
Q3 25
$27.5M
$33.7M
Q2 25
$22.9M
$24.7M
Q1 25
$25.7M
$-52.7M
Q4 24
$29.1M
$-252.0M
Q3 24
$25.5M
$-270.8M
Q2 24
$24.5M
$-9.3M
Q1 24
$12.5M
$23.3M
FCF Margin
DGII
DGII
JRVR
JRVR
Q4 25
28.7%
-14.1%
Q3 25
24.1%
19.5%
Q2 25
21.3%
14.1%
Q1 25
24.6%
-30.6%
Q4 24
28.1%
-198.9%
Q3 24
24.3%
-141.4%
Q2 24
23.2%
-4.9%
Q1 24
11.6%
11.6%
Capex Intensity
DGII
DGII
JRVR
JRVR
Q4 25
0.4%
2.9%
Q3 25
0.4%
0.4%
Q2 25
0.9%
0.3%
Q1 25
0.5%
0.7%
Q4 24
0.6%
3.9%
Q3 24
0.9%
0.4%
Q2 24
0.5%
0.3%
Q1 24
0.5%
0.4%
Cash Conversion
DGII
DGII
JRVR
JRVR
Q4 25
3.04×
-0.59×
Q3 25
2.81×
33.61×
Q2 25
2.34×
5.29×
Q1 25
2.50×
-5.38×
Q4 24
2.95×
Q3 24
2.23×
Q2 24
2.57×
-1.14×
Q1 24
3.27×
1.56×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

DGII
DGII

Io T Productsand Services$86.4M71%
Io T Solutions$36.1M29%

JRVR
JRVR

Excess And Surplus Lines$156.7M93%
Specialty Admitted Insurance$10.9M7%

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