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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 the opening of its new Design Center in Ilmenau, Germany, aimed at enhancing engineering support for EMEA customers. This facility will host a team focused on design engineering, system architecture, and quality assurance for innovative IoT solutions. The grand opening is set for October 15, 2021, showcasing Lantronix's commitment to local engineering resources and facilitating faster product development. CEO Paul Pickle emphasized this expansion as crucial for the company's growth strategy.
Lantronix has announced new features in its eStore, enabling easy self-serve ordering of SIM cards, data plans, and site-to-site VPN security for customers across 600 networks in 185 countries. This expansion allows users to quickly deploy cellular data connectivity for IoT solutions and manage them efficiently through an IoT platform. The introduction of secure site-to-site VPN enhances data integrity with IPsec tunnels. The global cellular IoT market is projected to grow, reaching 3.74 billion connected devices by 2025, positioning Lantronix as a market leader.
Lantronix, Inc. (NASDAQ: LTRX) announced the formation of an Advisory Board to enhance strategic development and leverage industry expertise. Bernhard Bruscha, the company's Chair, will retire in November 2021 but will continue as the Advisory Board's Chair. Bruscha has been instrumental in shaping the company since its founding in 1989. Additionally, Dr. Heidi Nguyen is nominated for election at the upcoming Annual Meeting, representing TL Investment, GmbH, a major stockholder. These changes aim to strengthen Lantronix's capabilities in providing IoT solutions and support its growth trajectory.
Lantronix Inc. (NASDAQ: LTRX), a provider of secure IoT solutions, announced its participation in the 5th Annual Lake Street Capital Markets Big5 Best Ideas Growth Conference. CEO Paul Pickle and CFO Jeremy Whitaker will host virtual one-on-one meetings on September 15, 2021. Investors interested in meetings are encouraged to contact their Lake Street Capital Markets representative. The company also released preliminary estimated results for its fiscal fourth quarter ended June 30, 2021, noting these results may change pending year-end closing procedures.
Lantronix Inc. (NASDAQ: LTRX) is enhancing IoT technology for point-of-care (POC) medical diagnostic devices, responding to the rising demand driven by diseases, including COVID-19. The global POC diagnostics market is projected to grow from $43.49 billion in 2021 to $81.37 billion by 2028, with a CAGR of 9.4%. Lantronix's xPico 250 IoT gateway supports secure connectivity for rapid diagnostic testing, facilitating faster prototypes and reduced development costs for medical device developers. Their solutions aim to improve patient care and operational efficiency in health settings.
Lantronix, a leader in IoT solutions, reported a record fourth-quarter net revenue of $20.6 million, reflecting a 19% increase year-over-year. For the fiscal year, net revenue reached $71.5 million, also up 19% year-over-year. GAAP gross margins improved to 48.8%, a significant increase from 37.7% a year ago. The company reported a GAAP EPS of ($0.04), an improvement from ($0.06) in the previous year, with non-GAAP EPS rising to $0.06. Looking ahead, Lantronix anticipates revenue growth of 45-75% and non-GAAP EPS growth of 85-135% in fiscal 2022.
Lantronix (NASDAQ: LTRX), formerly known as Transition Networks, is set to showcase its innovative Secure Remote Access Series (SRA) at the upcoming BICSI 2021 Fall Conference in Las Vegas from August 22-26, 2021. The SRA technology allows secure deployment and management of network devices, enhancing operational efficiency. This event marks a significant step in Lantronix's strategy to expand its offerings in smart city solutions. The company aims to provide comprehensive smart lighting and security solutions, furthering its commitment to connected infrastructure.
Lantronix Inc. (NASDAQ: LTRX) has introduced the Open-Q™ 5165RB System on Module (SOM), designed for high-performance applications in robotics and AI. This ultra-compact module leverages the Qualcomm® QRB5165 processor, providing advanced AI processing capabilities and multi-core performance. With features such as 8GB RAM, 128GB Flash, and support for Wi-Fi 6, it targets development in sectors including defense and industrial robotics. The accompanying Open-Q 865 SOM Development Kit is now available to streamline product development.
Lantronix Inc. (NASDAQ: LTRX) announced preliminary revenue expectations for its fiscal Q4 2021, projecting over $20 million, excluding revenue from the recent Transition Networks acquisition. The company is set to present at the Oppenheimer 24th Annual Technology, Internet & Communications Conference on August 10, 2021, at 1:35 p.m. PT. Full results will be released on August 26, 2021. These preliminary results are subject to change as closing procedures are not yet complete, emphasizing the need for cautious engagement with forward-looking statements regarding revenue and earnings.
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