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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, a leading provider of IoT solutions, announced participation in the 24th Annual Oppenheimer Technology, Internet & Communications Conference on Aug. 10, 2021. CEO Paul Pickle and CFO Jeremy Whitaker will represent the company at 1:35 PM PT. They will also hold virtual one-on-one meetings throughout the event. This conference is a key opportunity for Lantronix to discuss its innovative Software as a Service, connectivity services, and intelligent hardware designed for IoT and Remote Environment Management.
Lantronix, a provider of IoT solutions, has successfully completed its acquisition of Transition Networks and Net2Edge, enhancing its capabilities in IoT connectivity. This transaction is anticipated to generate more than $100 million in annual revenues and offers synergies, including $7 million in annual run rate synergies within 24 months. The acquisition aims to increase Lantronix's market scale and improve non-GAAP earnings upon closing. Silicon Valley Bank supported the financing of this acquisition.
Lantronix has announced enhancements to its ConsoleFlow™ platform, introducing True Zero-Touch automation for provisioning IoT devices. This upgrade simplifies the onboarding process, reducing on-site visits and operational costs for customers. The automation allows devices to connect to ConsoleFlow upon power-up, check for updates, and download firmware securely. Additionally, the platform supports real-time asset management and monitoring, promoting operational efficiency. Lantronix aims to drive customer value by facilitating easier device deployment, aligning with their vision of operational excellence.
Lantronix Inc. (NASDAQ: LTRX) appointed Jacques Issa as the vice president of Marketing, effective July 12, 2021. With over 30 years of experience, Issa aims to support the company's strategic growth in the IoT and Remote Environment Management sectors. Previously at Virtium LLC and Microsemi, he oversaw significant revenue operations. His employment includes inducement awards of 50,458 restricted share units and 100,000 stock options, set to vest over four years. This move is part of Lantronix's ongoing transformation efforts in the tech industry.
Lantronix Inc. (NASDAQ: LTRX) is advancing the Artificial Intelligence of Things (AIoT) within industrial IoT products, exemplified by the Guardhat Communicator smart hardhat and Youbiquo augmented reality glasses. The AI market is projected to grow to $554.3 billion by 2024, with a 17.5% CAGR. Lantronix's engineering services aid developers in reducing costs and accelerating time-to-market by offering globally certified solutions. Both products enhance worker safety and efficiency, connecting users with remote command centers through advanced IoT technologies.
Lantronix Inc. (LTRX) has broadened its partnership with Insight Enterprises, enhancing its offerings in Remote Environment Management and Edge Computing. This collaboration aims to extend Lantronix’s IoT and Remote Access solutions to Insight’s global clientele, enabling improved business continuity for remote sites. The combined portfolio includes OOB remote management, device servers, and SaaS for holistic IoT solutions, solidifying Lantronix’s position in the market and its capability to cater to various industries effectively.
Lantronix Inc. (LTRX) announced the successful integration of its Fox3 Series telematics gateway into an intelligent farming solution by German company LACOS. This partnership allows for the remote monitoring and tracking of farm equipment, enhancing efficiency and reducing reliance on paper logbooks. The Fox3 gateway supports secure multi-protocol connectivity, helping LACOS streamline operations and improve data management through cloud solutions. The implementation aims to foster innovation in agriculture, aligning with sustainability and operational efficiency goals.
Lantronix Inc. (NASDAQ: LTRX) announced the successful use of its Open-Q 820 µSOM in developing the Whisper Hearing System, a cutting-edge AI-driven hearing aid that enhances sound processing over time. Whisper's founders aim to address hearing loss with advanced technology that improves speech intelligibility and background noise separation. The collaboration promises reduced development costs and faster time-to-market. This achievement positions Lantronix as a key player in innovative IoT solutions for personal health.
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