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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) has joined the exclusive Qualcomm Authorized Design Center Program focused on automotive innovation. This participation will enhance Lantronix's capabilities to provide engineering and design expertise centered around Qualcomm's 3rd Generation Snapdragon Automotive Cockpit Platform. The program aims to accelerate product commercialization in the automotive sector, leveraging advanced AI and multimedia features to meet stringent industry standards. Lantronix's experience with Qualcomm underscores its commitment to delivering cutting-edge solutions in IoT and automotive applications.
Communications Systems (JCS) announced a purchase agreement on November 18, 2021, with Buhl Investors LLC to sell its headquarters in Minnetonka, MN, for $6.8 million. The transaction is contingent upon the Buyer completing due diligence within 90 days and obtaining regulatory approval for a multi-tenant office use. Furthermore, CSI plans to distribute sale proceeds in the form of dividends or Contingent Value Rights (CVR) to shareholders, pending the closing of this sale and its merger with Pineapple Energy, aimed at expanding its solar and energy service operations.
Lantronix (NASDAQ: LTRX) announced a public offering of 4,700,000 shares at $7.50 each, expecting gross proceeds of approximately $35.3 million. The offering will close around November 22, 2021, pending customary conditions. TL Investment GmbH has granted underwriters a 30-day option for an additional 705,000 shares. Proceeds will fund working capital and may repay existing debt. Canaccord Genuity and Craig-Hallum are managing the offering. The company will not receive any proceeds from shares sold by TL Investment GmbH.
Lantronix, Inc. (NASDAQ: LTRX) has initiated a proposed underwritten public offering of shares of its common stock, subject to market conditions. TL Investment GmbH plans to grant underwriters a 30-day option to purchase additional shares. Net proceeds will be utilized for working capital, possibly including repaying existing debt. The offering follows two effective shelf registration statements from the SEC. Canaccord Genuity and Craig-Hallum are the joint book-running managers. The final terms will be disclosed in a prospectus supplement.
Lantronix Inc. (LTRX) has announced its all-in-one connectivity solution designed to enhance the management and monitoring of distributed retail sites. This innovation aims to improve operational efficiency and increase uptime, ultimately helping stores grow their revenues. The solution enables remote control of IT and IoT devices, facilitating troubleshooting without on-site technical staff. Current market trends indicate a growing need for such connectivity solutions due to the increasing complexity of network management in retail environments.
Communications Systems, Inc. (NASDAQ: JCS) reported a net income of $8.6 million for Q3 2021, significantly up from $262,000 in Q3 2020, primarily due to a $13.5 million gain from the sale of its Electronics & Software segment to Lantronix (NASDAQ: LTRX). Revenues from continuing operations fell 45.5% to $1.8 million, impacted by the loss of a major educational customer. Recurring revenues increased by 74% to $1.5 million, reflecting successful acquisitions. The company paid a $3.50 special dividend totaling $34 million on October 15, 2021, from proceeds of the divestiture.
Lantronix reported a record first quarter net revenue of $27.7 million, reflecting a substantial 62% YoY increase and a 34% sequential rise. The company reported a GAAP EPS of ($0.08) compared to ($0.01) in the previous year, while the non-GAAP EPS improved to $0.08 from $0.05. Demand for Lantronix solutions has strengthened, resulting in a record backlog entering Q2. The cash balance increased to $10.3 million. Despite supply chain challenges, the company anticipates fiscal year revenue growth between 54–75% with non-GAAP EPS growth expected at 95–135%.
Lantronix (NASDAQ: LTRX) announced preliminary revenue results for fiscal Q1 2022, reporting expected revenues exceeding $27 million, driven by strong demand and effective supply chain management. The results reflect a record backlog, with final figures to be released on November 11, 2021. The company is set to host an investor conference call on the same date to discuss the results further. However, these preliminary results are subject to change and should not replace standard GAAP financial statements.
Lantronix (NASDAQ: LTRX) has announced a partnership with Green Hills Software to develop secure computing platforms for automotive electronic systems. This collaboration integrates Lantronix's Qualcomm Snapdragon SA8155P hardware with Green Hills' INTEGRITY real-time operating systems. The joint solution aims to reduce development complexity, enabling quicker production for OEMs. Key benefits include rapid platform evaluation, proof-of-concept trials, and enhanced software tools that address safety and security requirements. The platform is available immediately, targeting automotive manufacturers and their suppliers.
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