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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 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.
Lantronix Inc. (NASDAQ: LTRX) announced that it will release its financial results for the fiscal 2022 second quarter, ending December 31, 2021, on February 10, 2022, after market close. An investor conference call will be held at 2:00 p.m. PT (5:00 p.m. ET) on the same day. Investors can access the call via phone or through a live webcast on the company's website. A replay will be available after the call. Lantronix is a provider of secure IoT and Remote Environment Management solutions, enhancing operational efficiency for various sectors.
Lantronix Inc. (NASDAQ: LTRX) will showcase its IoT and connectivity solutions for smart cities, intelligent buildings, and government at the BICSI Winter 2022 Conference from Jan. 30 to Feb. 3, 2022. The company's end-to-end IoT solutions aim to capture the growing market, projected to reach over $615 million by 2030, with a 20% CAGR in the PoE sector, according to Guidehouse Insights. Lantronix will exhibit key products, including advanced managed Ethernet switches and IoT gateways, at booth 1033.
Lantronix Inc. (NASDAQ: LTRX) announced the approval of its Smart Managed Industrial Hardened Switch for use in Florida's transportation projects. This switch, part of the Florida Department of Transportation's (FDOT) Approved Products List (APL), enhances network connectivity for Intelligent Transportation Systems and smart city initiatives. This marks the fourth switch from Lantronix on the APL. The switch meets stringent security and reliability requirements, including 99.999% operational accuracy and compliance with NEMA TS2 standards.
Lantronix (Nasdaq: LTRX) announces that CEO Paul Pickle and CFO Jeremy Whitaker will present at the 24th Annual Needham Virtual Growth Conference on Jan. 12, 2022, at 12:30 p.m. PT (3:30 p.m. ET). A webcast of the event will be available. Additionally, the management will hold virtual one-on-one meetings on Jan. 11 and 12, 2022, with all slots currently filled. Lantronix specializes in secure IoT solutions, offering a range of services including Software as a Service (SaaS) and intelligent hardware.
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