Lantronix to Display New Cloud Software Platform and Telematic Trackers at IoT Solutions World Congress

Rhea-AI Summary

Lantronix has announced the debut of its Percepxion Cloud Software Platform and new FOX4 and Bolero 43 telematic trackers at the IoT Solutions World Congress in Barcelona from May 21–23, 2024. Additionally, Lantronix will preview its Tracx browser-based fleet management hub. The company's comprehensive and secure IoT solutions are designed to address global edge deployments and diverse connectivity needs. Mathi Gurusamy, Lantronix's chief strategy officer, highlighted the company's role in IoT success. The global aftermarket telematic devices market is forecasted to grow at a CAGR of 10.5% over the next five years, reaching 77.6 million units valued at $3.7 billion by 2027, a trend that Lantronix aims to capitalize on with its innovative offerings.

Positive

• Lantronix is debuting new products at a high-profile industry event, enhancing its visibility.
• The Percepxion Cloud Software Platform offers robust, secure management for IoT devices.
• FOX4 and Bolero 43 trackers provide versatile connectivity and durability for various applications.
• The Tracx platform promises a revolutionary approach to fleet and asset management.
• Growing market for telematic devices (CAGR of 10.5%) presents significant growth opportunities.
• Lantronix's products are designed for diverse environments, from urban to industrial settings.
• Company features established products like the M114Cat-1BIS Modem, G520 Series Gateways, and X300 Compact IoT Gateways.

Negative

• The PR lacks specific financial data on the new product launches, making it difficult to assess immediate impact on revenue.
• There's no mention of confirmed partnerships or contracts tied to these new products, only future market potential.
• The competitive landscape for IoT solutions is intense, which may affect Lantronix's market share and profitability.

Lantronix Also to Preview Its New Tracx Browser-Based Fleet Management Hub

IRVINE, Calif., May 16, 2024 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global leader in compute and connectivity IoT solutions, today announced that its innovative Percepxion® Cloud Software Platform and new FOX4 and Bolero 43 edge compute telematic trackers will debut at the upcoming IoT Solutions World Congress from May 21–23, 2024, at Barcelona’s Gran Via Venue. Lantronix will also preview its upcoming Tracx centralized, browser-based hub for comprehensive fleet and asset management. Lantronix will display its products at booth B98.

Mathi Gurusamy, chief strategy officer at Lantronix, shared, “We're excited to present our newest solutions, including the Percepxion Cloud Software Platform and our expanded line of hardware products, at this year’s IoT Solutions World Congress. Lantronix is the go-to source for IoT success, providing a suite of reliable, secure and easy-to-deploy solutions, all supported by its exceptional service team.”

According to Berg Insight, the global shipments of aftermarket telematic devices will grow at a CAGR of 10.5 percent in the next five years, reaching 77.6 million units in 2027 for a total market value estimated to reach $3.7 billion by 2027. Lantronix’s innovative hardware and software effectively target this market, supporting these growth trends.

Introducing Tracx: A Revolutionary Hub for Fleet and Asset Management

The soon-to-launch Tracx platform is a centralized, browser-based hub designed to revolutionize fleet and asset management. This comprehensive tool allows users to effortlessly track, dispatch, monitor and extract valuable insights from their assets through a single, streamlined platform.

New From Lantronix

• Percepxion Cloud Software Platform: Integrated within Lantronix's award-winning IoT gateways, routers and more, this platform offers robust, secure device lifecycle management. It's designed for intuitive use across global edge deployments, making it easier than ever to manage IoT needs efficiently.
  
  
• FOX4 Edge Compute Tracker: Combining cellular and GNSS technology with BLE and Wi-Fi® connectivity, the FOX4 tracker is built for versatility, supporting a wide array of applications from bustling cityscapes to rugged industrial environments.
  
  
• Bolero 43 Edge Compute Tracker: Tailored for asset and fleet management as well as Industrial IoT applications, the Bolero 43 features durable design with an IP68 rating, ensuring performance in the toughest conditions.
  

Reliable Hardware, Trusted Performance

In addition to its latest innovations, Lantronix will also feature well-established and reliable solutions, including:

• M114Cat-1BIS Modem: Now available across EMEA, this serial-to-cellular modem continues to support industries with steadfast connectivity.
  
  
• G520 Series Gateways: These rugged LTE and 5G gateways are crafted for critical Industry 4.0, security and transportation applications.
  
  
• X300 Compact IoT Gateways: Combine essential IoT gateway hardware with premium service subscriptions for central device management and enhanced security.
  

Connectivity Simplified

Lantronix’s Connectivity Services provide seamless, global IoT fleet management using a universal SIM, offering customized carrier and connectivity solutions to meet diverse environmental needs.

About Lantronix

Lantronix Inc. is a global provider of compute and connectivity IoT solutions that target high-growth industries, including Smart Cities, Automotive and Enterprise. Lantronix’s products and services empower companies to achieve success in the growing IoT markets by delivering customizable solutions that address each layer of the IoT Stack. Lantronix’s leading-edge solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

For more information, visit the Lantronix website.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This media alert contains forward-looking statements within the meaning of federal securities laws, including without limitation statements related to the upcoming Tracx centralized, browser-based hub for comprehensive fleet and asset management, Percepxion, hardware product and connectivity services including statements about their reliability, security and flexibility. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 12, 2023, including in the section entitled “Risk Factors” in Item 1A of Part I of such report; in our Quarterly Reports on Form 10-Q for the fiscal quarter ended Dec. 31, 2023, filed with the SEC on Feb. 8, 2024, and for the fiscal quarter ended March 31, 2024, filed with the SEC on May 2, 2024, including in the section entitled “Risk Factors” in Item 1A of Part II of such report; as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. The forward-looking statements included in this release speak only as of the date hereof, and we do not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.

© 2024 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

Lantronix Media Contact:        
Gail Kathryn Miller
Corporate Marketing &
Communications Manager
media@lantronix.com
949-212-0960

Lantronix Analyst and Investor Contact:
Jeremy Whitaker
Chief Financial Officer
investors@lantronix.com
949-450-7241 

FAQ

What new products is Lantronix unveiling at the IoT Solutions World Congress?

Lantronix is unveiling the Percepxion Cloud Software Platform and new FOX4 and Bolero 43 edge compute telematic trackers.

When and where will Lantronix showcase its new IoT solutions?

Lantronix will showcase its new solutions at the IoT Solutions World Congress from May 21–23, 2024, at Barcelona’s Gran Via Venue.

What is the focus of Lantronix's new Tracx platform?

The Tracx platform is a centralized, browser-based hub designed for comprehensive fleet and asset management.

What technologies do the FOX4 and Bolero 43 trackers incorporate?

The FOX4 tracker includes cellular, GNSS, BLE, and Wi-Fi® connectivity, while the Bolero 43 is designed for rugged, industrial environments.

How is the telematic device market expected to grow according to Berg Insight?

The telematic device market is expected to grow at a CAGR of 10.5% over the next five years, reaching 77.6 million units with a market value of $3.7 billion by 2027.