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 its participation in Cisco Live from June 12-16, 2022, showcasing its Out-of-Band Management (OOBM) solutions designed for data centers and remote sites. These solutions enhance business continuity and operational efficiency, featuring the ConsoleFlow™ cloud platform and various advanced gateways. CEO Paul Pickle emphasized their role in maximizing uptime for global customers. Their offerings also include secure connectivity services across 600 networks worldwide, aimed at simplifying IoT and IT management.
Lantronix Inc. (NASDAQ: LTRX) announced successful utilization of its Open-Q Micro SOM and engineering services by EchoNous for developing Kosmos, the first AI-assisted handheld ultrasound device.
Niko Pagoulatos, EchoNous CTO, praised the performance of the Open-Q μSOM and noted that Lantronix's engineering support significantly reduced costs and development time. The Kosmos device enhances diagnostic capabilities for clinicians in various assessments and incorporates AI-driven deep learning technology for improved healthcare solutions.
Lantronix (NASDAQ: LTRX) will showcase its Open-Q SOMs and µSoMs at Hannover Messe, demonstrating the Youbiquo Leonardo Smart Glasses from May 30 to June 2, 2022. This collaboration with Qualcomm highlights advancements in industrial IoT solutions. The showcased technology aims to enhance operational efficiency and safety in industrial settings. Key features include rapid prototyping, cost reduction, and customization for various user types, with a focus on supporting developers in bringing innovative IoT solutions to market.
Lantronix Inc. (NASDAQ: LTRX) reported third-quarter fiscal 2022 net revenue of $32.3 million, up 89% year-over-year but down 4% sequentially. The GAAP EPS was (0.09), compared to (0.04) in the prior year, while non-GAAP EPS improved to $0.08 from $0.05. The company raised its full-year revenue guidance to $125 million to $129 million, indicating about 75% to 80% year-over-year growth. Despite ongoing supply chain challenges, Lantronix anticipates continued growth in Q4.
Lantronix (LTRX) announced its fiscal 2022 third quarter earnings release on May 4, 2022, following the market's closure. The investor conference call is scheduled for the same day at 2:00 p.m. PT. The Company specializes in secure solutions for the Internet of Things (IoT) and Remote Environment Management (REM), offering a variety of services including Software as a Service (SaaS) and intelligent hardware. Investors will be able to access a replay of the conference call through various channels starting at 7:00 p.m. PT on the same day.
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.
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