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Lantronix Inc. (NASDAQ: LTRX) is a global provider of secure data access and management solutions, focusing on the Internet of Things (IoT) and intelligent information technology assets. With over two decades of expertise in developing robust machine-to-machine (M2M) technologies, Lantronix has positioned itself as a pioneer in enabling companies to deploy and manage IoT projects efficiently, while ensuring secure data access for applications and individuals.
Lantronix organizes its products and solutions into three primary categories: IoT Solutions, IoT System Solutions, and Software & Services. The company's embedded IoT solutions segment is the key revenue driver, catering to diverse industries such as healthcare, industrial, security, energy, transportation, and governmental sectors. Lantronix's geographical markets include the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan region, with the Americas contributing the majority of its total revenue.
Recently, Lantronix reported its first quarter of fiscal 2024 results, highlighting net revenue of $33.0 million, a 4% increase year-over-year. The company projects revenue for fiscal year 2024 to range between $175 million to $185 million, with expected non-GAAP EPS between $0.50 and $0.60 per share. Lantronix's strategic initiatives include the Percepxion platform, which accelerates IoT edge device deployments with features such as zero-touch automated provisioning and comprehensive device lifecycle management.
Lantronix’s financial condition remains stable, with a focus on non-GAAP financial measures to provide clearer insights into its operational trends. Non-GAAP net income excludes several elements like share-based compensation and restructuring charges. The SNAP 8 Gen 3 Mobile Platform exemplifies Lantronix’s commitment to innovation, delivering nearly double the AI performance of its predecessor and enabling sophisticated AI solutions in robotics and edge AI.
The company's recent launch of the FOX4 and Bolero 43 Edge Compute Trackers, alongside the Tracx browser-based fleet management hub, underscores its adaptive approach to meet the evolving needs of the telematics market. Lantronix’s ongoing projects and partnerships, such as those with Qualcomm, reinforce its market position as a leader in IoT connectivity and edge computing solutions.
As Lantronix continues to innovate and expand its product offerings, it remains a key player in enabling the next wave of IoT advancements, driving secure, scalable, and intelligent solutions across a multitude of industries.
Lantronix (NASDAQ: LTRX) announced that its president and CEO Saleel Awsare has been appointed to the Forbes Technology Council, an invitation-only community for business and technology leaders. The selection was based on Awsare's industry achievements and thought leadership. Awsare expressed his intention to share insights on AI and IoT transformations affecting enterprise business practices.
Prior to joining Lantronix in 2023, Awsare served as senior vice president at Synaptics Inc., where he managed the Enterprise and Mobile Division and played a key role in the company's successful transition from Mobile to IoT and enterprise markets. His previous experience includes serving as president of Conexant Systems from 2012 to 2017, where he established the company as a leader in audio and voice technologies, leading to its acquisition by Synaptics. From 2008 to 2012, he served as president of Nuvoton Technology America.
Lantronix (NASDAQ: LTRX) has appointed Daniel Quant as head of Industrial IoT Products and Business Line, reporting to Chief Strategy Officer Mathi Gurusamy. Quant will focus on integrating Artificial Intelligence into Industrial IoT devices to meet growing Edge Intelligence demands.
With over 20 years of experience in Industrial IoT and wireless communications, Quant previously served as VP and GM at Multi-Tech Systems, where he led development of IoT technologies including LoRaWAN gateways, Private LTE devices, and 5G NR RedCap solutions. His achievements include launching the first LoRa-based edge-compute Network Gateway and pioneering LTE Cat.M1 devices for AT&T's network.
Quant holds a bachelor's in Electronic System Engineering and completed advanced Machine Learning studies at MIT. He has contributed to industry standards through organizations like the LoRa Alliance, 3GPP, and CTIA.
Lantronix (NASDAQ: LTRX) has appointed Brent Stringham as its permanent Chief Financial Officer (CFO). Stringham, who previously served as the company's interim CFO and Chief Accounting Officer, has been with Lantronix since 2012. Prior to Lantronix, he held financial positions at Iteris Inc., Netlist Inc., and Ernst & Young.
CEO Saleel Awsare highlighted Stringham's deep institutional knowledge and extensive financial expertise gained through his 13-year tenure with the company. The appointment aligns with Lantronix's commitment to delivering shareholder value and advancing its strategic focus on Edge Intelligence in the IoT industry.
Lantronix (NASDAQ: LTRX) CEO Saleel Awsare has been named 'IoT Company CEO of the Year' in the 9th annual IoT Breakthrough Awards program. Awsare, who joined as president and CEO in November 2023, has led the company to revenue growth while focusing on advanced technologies, including IoT Edge Intelligence AI development and machine learning at the edge.
The company specializes in compute and connectivity IoT solutions, building an IoT/AI Edge ecosystem of developer tools, AI framework, and Edge AI platform. Through its partnership with Qualcomm Technologies, Lantronix delivers integrated solutions for various applications including robotics, automotive, and medical equipment.
Lantronix's product portfolio includes Device Management OOB, Network Switches, Telematic Gateways, and Embedded IoT Solutions such as Compute SOM & Dev Kits. Their solutions serve leading Enterprise, Automotive, and Smart Cities organizations globally.
Lantronix (NASDAQ: LTRX) announced a case study featuring GWACS Defense Inc.'s implementation of Lantronix's Open-Q™ 8250CS System on Module (SOM) to develop a commercial-grade gunshot detection system. The system, based on Qualcomm® QCS8250 System-on-Chip, adapts military-grade acoustic technology for public safety applications in schools, hospitals, and entertainment venues.
The collaboration resulted in an Acoustic Event of Interest (AEI) platform that delivers real-time detection through AI and DSP algorithms, featuring 5G connectivity for low-latency communications and secure cloud integration. The solution provides unmatched precision, connectivity, and affordability while maintaining military-grade reliability. Key benefits include accelerated time to market, platform scalability, and cost-effective on-device processing.
Lantronix (NASDAQ: LTRX) has completed the acquisition of NetComm Wireless Pty 's enterprise IoT business assets from DZS Inc. for $6.5 million in cash. The strategic acquisition enhances Lantronix's Enterprise and Smart City market presence, expanding its 5G capabilities and IoT connectivity solutions in critical infrastructure, asset monitoring, and telecommunications.
The acquired portfolio includes Gateway, Routers, and Modems solutions that provide Ethernet-to-Cellular and Wi-Fi connectivity for demanding environments. The acquisition opens opportunities in new geographic markets, particularly Australia and New Zealand, while adding blue-chip Enterprise customers. Lantronix projects the acquired NetComm enterprise portfolio to generate $6-7 million in revenue during calendar year 2024.
Lantronix (NASDAQ: LTRX), a leading IoT compute and connectivity solutions provider, has announced its participation in the 27th Annual Needham Growth Conference. CEO Saleel Awsare and Interim CFO Brent Stringham will deliver in-person presentations on January 14-15, 2025 at the Lotte New York Palace Hotel.
Investors can access live audio webcasts and replays of the presentations through Lantronix's investor relations website section, with replays available for 90 days following the event. Interested investors seeking one-on-one meetings should contact investors@lantronix.com.
Lantronix (NASDAQ: LTRX) announced it will host briefings at CES 2025 (Jan. 7-10) to showcase its Edge AI solutions roadmap. The company will demonstrate Qualcomm Technologies-partnered embedded solutions and preview new enterprise IoT business solutions linked to its pending NetComm Wireless acquisition.
The company will showcase its new SmartLV, an AI-enabled IoT Edge Compute Cellular Gateway powered by Qualcomm® IQ-615 processor, designed for low-voltage substations and smart grid applications. The NetComm acquisition, expected to close in Q2 fiscal 2025, aims to expand Lantronix's 5G capabilities and enhance connectivity solutions in critical infrastructure, asset monitoring, and telecommunications.
Lantronix (NASDAQ: LTRX), a global leader in IoT compute and connectivity solutions, announced its participation in the 13th Annual NYC Summit investor conference. The event, co-hosted by 17 other companies, will take place on December 17, 2024, at Mastro's Steakhouse New York. Saleel Awsare, President & CEO of Lantronix, will present at the conference. The presentation materials will be available on the company's website in the events section.
Lantronix (LTRX) reported Q1 fiscal 2025 results with net revenue of $34.4 million, showing a 4% year-over-year increase but a sequential decline. The company posted GAAP EPS of ($0.07), down from ($0.05) in the prior year, and non-GAAP EPS of $0.06, compared to $0.07 last year. For Q2 fiscal 2025, Lantronix projects revenue between $29.0 million to $33.0 million and non-GAAP EPS of $0.01 to $0.05 per share, excluding potential contributions from the pending NetComm IoT product line acquisition.
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