Welcome to our dedicated page for Lantronix news (Ticker: LTRX), a resource for investors and traders seeking the latest updates and insights on Lantronix stock.
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 Inc. (NASDAQ: LTRX) announced that Anita Kumar, VP of Business Operations, has been recognized in the 2022 Women in Security Power 100 by the Security Industry Association (SIA). This program honors 100 women in the security industry for their contributions to diversity and leadership. Kumar has a 20-year career in security technology, previously serving as CEO of Communication Systems Inc. and GM of Transition Networks. The recognition ceremony took place at ISC West 2022 on March 25, 2022.
Lantronix has announced that its xPico 200 Series gateways have received WPA3 Certification from the Wi-Fi Alliance for both WPA3-Enterprise and WPA3-Personal. This certification enhances Wi-Fi security, offers robust authentication, and provides increased cryptographic strength for sensitive data. The xPico gateways facilitate seamless Ethernet, Wi-Fi, and Bluetooth® connectivity, aiding OEMs in building and deploying smart connected products while minimizing risks. The gateways are designed for industrial-grade operations and feature automatic network connection management.
Lantronix Inc. (NASDAQ: LTRX) announced the launch of its ConsoleFlow centralized device management platform, enhancing operational efficiency for IoT applications. The integration with Ethernet PoE switches and IoT cellular gateways provides a 'single pane of glass' management system, facilitating True Zero-Touch automation. This solution aims to address the expanding video surveillance market, expected to hit $14.3 billion by 2024. The company will showcase its innovations at the ISC West conference on March 22–25, 2022, including a new Mini Power over Ethernet Media Converter.
Lantronix Inc. (LTRX) announced that its smart managed industrial hardened gigabit Ethernet switches have been approved by the Georgia Department of Transportation (GDOT) for sale and installation in state transportation projects. This approval enhances Lantronix's presence in the smart transportation sector, joining similar approvals in New York and Florida. The certified products include four Ethernet switches that meet stringent safety and performance standards. These switches are designed for use in challenging environments and offer various capabilities, including PoE functionality and advanced network management features.
Lantronix Inc. (Nasdaq: LTRX) has announced that CEO Paul Pickle and CFO Jeremy Whitaker will engage in one-on-one investor meetings at the 34th Annual Roth Conference from March 13-15, 2022, held at the Ritz Carlton Laguna Niguel in Dana Point, California. Interested parties can request meetings via email or through their Roth sales representative. Lantronix specializes in secure turnkey solutions for the Industrial Internet of Things (IoT) and Intelligent IT markets, enhancing operational efficiency and market readiness for clients across various sectors.
Lantronix Inc. (NASDAQ: LTRX) announced an enhanced software build for its Open-Q™ 8250CS System on Module. This new software optimizes the module's performance, supporting intelligent video applications across IoT sectors, including smart cities and video collaboration.
The platform enables multiple video encode/decode sessions and low-latency functionalities, expediting product development and market launch. The module features a Qualcomm® QCS8250 processor, providing advanced video capabilities, crucial for edge computing.
Lantronix Inc. (NASDAQ: LTRX) showcased its G520 Series Smart Cellular IoT Devices at the Mobile World Congress, collaborating with Taoglas and Thales to enhance industrial IoT connectivity across various sectors, including Industrial 4.0, Security, and Transport. This partnership focuses on delivering robust, integrated solutions featuring Taoglas antennas and Thales' 5G connectivity. The G520 series benefits users by enabling connections of legacy equipment, ensuring reliable data access, and facilitating the digital transformation of connectivity-dependent industries.
Lantronix (NASDAQ: LTRX) announced its FOX3 Series telematics gateway has been integrated into the SATLOG Fleet Management System to optimize fleet operations. SATLOG processes over 5.4 million stops and approximately 600,000 events monthly, enhancing efficiency and cost savings for users. The European fleet management market is projected to grow at a 14.4% CAGR from 11.5 million units in 2020 to 22.5 million units by 2025. The FOX3 gateway enables smart tracking and data logging to empower users with actionable insights.
Lantronix, Inc. reported a record second-quarter net revenue of $33.7 million, marking a significant 103% year-over-year growth and 22% sequential growth. The company's GAAP EPS was ($0.08), slightly worse than ($0.05) in the prior year. Non-GAAP EPS improved to $0.10 versus $0.03 a year ago. Lantronix raised its fiscal 2022 revenue guidance to $112.5 million to $127.5 million, reflecting a 57% to 78% year-over-year increase. The company also provided a non-GAAP EPS outlook of $0.32 to $0.40.
Lantronix Inc. (NASDAQ: LTRX) has launched new application-specific industrial IoT solutions targeting Industry 4.0, Security, and Transport markets. These include the G520 Industrial router and G520 Security router, designed to enhance operational efficiency and reduce cybersecurity threats. The products integrate with ConsoleFlow for streamlined remote asset management. According to Berg Insight, cellular IoT device shipments are predicted to grow at a CAGR of 15.8% to 629.6 million units by 2025. A G520 Transport solution is set to launch later in 2022.
FAQ
What is the current stock price of Lantronix (LTRX)?
What is the market cap of Lantronix (LTRX)?
What does Lantronix Inc. specialize in?
Which industries does Lantronix serve?
What are the key product lines of Lantronix?
How has Lantronix performed financially in recent quarters?
What is the Percepxion platform?
How does Lantronix ensure secure data management?
What are the latest IoT innovations by Lantronix?
What regions contribute the most revenue for Lantronix?
What is Lantronix’s approach to financial reporting?
What is the SNAP 8 Gen 3 Mobile Platform?
