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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) reported second quarter net revenue of $17.1 million, a 4% increase year-over-year and a 3% sequential rise. GAAP gross margins improved to 45.1%, up 290 basis points sequentially, due to a better product mix. GAAP EPS improved to (0.04), up from (0.19) last year, while non-GAAP EPS rose 150% year-over-year to $0.05. A record backlog was established entering Q4, and the company forecasts 15-25% revenue growth and 100-175% non-GAAP EPS growth for fiscal 2021.
Lantronix (NASDAQ: LTRX) has entered into a definitive agreement to acquire Transition Networks and Net2Edge from Communications Systems Inc. for a base price of $25 million, with potential earn-out payments of up to $7 million. This acquisition is expected to enhance Lantronix's annual revenue to over $100 million and will provide complementary IoT products, including switching and media conversion technologies. The company anticipates $7 million in annualized expense synergies within 24 months and expects immediate earnings accretion upon closing.
Lantronix Inc. (NASDAQ: LTRX) announced that its xDirect Server supports Medical Informatics Corp.’s (MIC) Sickbay solution, a FDA-cleared virtual care platform. The xDirect Server enables secure, remote monitoring of non-networked medical devices, allowing for flexible virtual ICUs and data-driven patient care. Sickbay enhances clinical decision-making by transforming bedside data into actionable insights, significantly improving healthcare delivery. Key features include real-time monitoring, scalability for hospitals, and extensive patient data integration, addressing challenges posed by traditional monitoring methods.
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.
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What is the SNAP 8 Gen 3 Mobile Platform?
