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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.
On April 19, 2021, Lantronix (NASDAQ: LTRX) announced the release of its fiscal 2021 third quarter financial results, scheduled for April 29, 2021, after market close. An investor conference call will be held on the same day at 2:00 PM PT, accessible via phone and webcast. Lantronix specializes in Software as a Service (SaaS), connectivity services, and IoT solutions, simplifying the deployment and management of IoT projects for various industries. The company's products serve sectors such as energy, agriculture, and security, highlighting its diverse market engagement.
Lantronix (NASDAQ: LTRX) announced its Engineering Services team supported eSight Corp. in developing a cutting-edge device for individuals with visual impairments. eSight was awarded 'Best Wearable/Healthcare Hardware/Software Consumer Technology of 2021' at the Tech Ascension Awards. The collaboration enabled the creation of a device that enhances vision for users, potentially improving visual acuity from 20/60 to 20/20. The project involved integrating high-definition cameras and screens, ensuring affordability, and enhancing user experience through advanced technology.
Lantronix Inc. (NASDAQ: LTRX), a leader in IoT services, is driving advancements in Smart Cities, banking security, and retail technologies. The company highlights a report predicting the Global Industrial IoT Market to grow by $421.28 billion from 2021 to 2025 at a CAGR of 33%. Lantronix's solutions, such as the Open-Q 624A SOM for automated license plate readers, and the E210 Series Routers for bank ATMs, demonstrate significant contributions to safety and efficiency. The rollout of these applications aims to enhance community safety and streamline retail processes, showcasing Lantronix's pivotal role in the commercial IoT landscape.
Lantronix Inc. (NASDAQ: LTRX) will showcase its latest embedded solutions and IoT technologies at Convergence India 2021 from March 24-26, 2021, at Pragati Maidan, New Delhi. Featured products include embedded solutions, edge computing devices, and tracking devices, designed to enhance connectivity and efficiency in smart applications. Highlighted technologies include the dual-band xPico 270 wireless module and the BOLERO40 Series trackers for vehicle monitoring. The event will position Lantronix as a leader in connectivity and smart IoT solutions.
Lantronix Inc. (NASDAQ: LTRX) has launched the EMG7500, a secure edge management gateway designed for remote and unmanned sites. Integrated with the ConsoleFlow management platform, this cost-effective solution enhances business continuity for operations in various locations like branch offices and ATMs. Key features include automatic fail-over mechanisms, network performance monitoring, and mobile access. The EMG7500 strengthens Lantronix's Remote Environment Management solutions, expanding its capabilities within the EMG product family.
Lantronix Inc. (NASDAQ: LTRX) has announced the launch of its Mobile Hardware Development Kit (HDK) powered by the Qualcomm® Snapdragon™ 888 5G Mobile Platform. This innovative kit enhances the development and testing of Android mobile applications across various domains like AI, gaming, and photography. Notable features include 12GB RAM, 256GB UFS storage, and extensive I/O options. The HDK aims to facilitate OEMs and developers with platform evaluation and proof-of-concept testing. Orders for the HDK and its components are currently available through the Lantronix eStore.
Lantronix Inc. (NASDAQ: LTRX) announced the launch of its EDS3000 family of serial-to-Ethernet device servers, enhancing its IoT offerings for industrial and medical applications. The series includes the EDS3000PR and EDS3000PS, designed for efficient remote device management. Key features include a centralized device management platform, a comprehensive security framework, and easy configuration options. This launch reflects Lantronix's commitment to advancing industrial automation and providing secure solutions amidst growing demand for connected technologies.
Lantronix, Inc. (NASDAQ: LTRX) reported a 25% increase in net revenue for Q2 FY 2021, totaling $16.6 million, compared to the prior year. GAAP EPS improved to (0.05), an improvement from (0.06) a year ago, while non-GAAP EPS remained at $0.03. Despite some revenue impact from component delays, demand strengthened, resulting in a record backlog entering Q3. For the full fiscal year 2021, Lantronix projects a revenue growth of 15-25% and non-GAAP EPS growth of 75-125%. A conference call to discuss the results was held on February 11, 2021.
Lantronix Inc. (NASDAQ: LTRX) has appointed SAPPLY as its new distributor for Australasia, enhancing its market reach in the IoT and Out-of-Band Management sectors. SAPPLY will provide Lantronix's complete portfolio of software, hardware, and services, including IoT gateways, modems, and SaaS solutions. This partnership aims to support Lantronix's growing customer base in the Australasia region, leveraging SAPPLY's expertise in data center networking and IoT connectivity.
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