Welcome to our dedicated page for Lantronix news (Ticker: LTRX), a resource for investors and traders seeking the latest updates and insights on Lantronix stock.
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 reported a remarkable 31.4% revenue growth over two years, recognized as the fifth fastest-growing small public company by the Orange County Business Journal. This growth stems from advancements in IoT, artificial intelligence, robotics, and communications. The company’s targeted acquisition strategy, including IoT pioneer Intrinsyc Technologies and FALCOM Holdings, fueled this trajectory. Notably, Lantronix supported two products recognized in TIME’s Best Inventions of 2020, showcasing its role in accelerating innovation.
Lantronix Inc. (NASDAQ: LTRX) has partnered with Youbiquo, an Italian developer, to enhance the development of Talens Holo augmented reality smart glasses. Utilizing Lantronix's Open-Q 626 µSOM technology, Youbiquo rapidly created a certified product aimed at improving maintenance operations through IoT integration. The smart glasses allow technicians to access critical data hands-free, boosting work efficiency. Key benefits include reduced development costs and faster market entry.
Lantronix, Inc. (NASDAQ: LTRX) reported its first quarter fiscal 2021 results, showing net revenue of $17.1 million, reflecting a 35% year-over-year increase but down 1% sequentially. GAAP gross margin improved significantly by 1,040 basis points to 48.1%, while GAAP EPS improved to (0.01) per share from (0.06). Non-GAAP EPS was $0.05, driven by strong gross margins and expense controls. The company reiterated its revenue growth target of 20%-25% for fiscal 2021, alongside non-GAAP EPS growth of 120%-160%.
Lantronix Inc. (NASDAQ: LTRX) announced its new Connectivity Services, designed to simplify IoT and Remote Environment Management connectivity. The services offer resilient cellular connectivity through over 600 networks in 185 countries using a single SIM card. These cloud-based solutions, part of the ConsoleFlow SaaS platform, aim to enhance operational efficiency and ROI for users managing IoT fleets or large data centers. With Global and Carrier Connectivity options, users can activate and manage devices easily, ensuring reliable service for mission-critical applications.
Lantronix Inc. (Nasdaq: LTRX) announced its participation in upcoming investor conferences. CEO Paul Pickle and CFO Jeremy Whitaker will attend the Roth Technology Conference on November 11-12, followed by one-on-one meetings on November 13. Additionally, they will participate in the 11th Annual Craig-Hallum Alpha Select Conference on November 17. These events aim to enhance investor engagement ahead of the company’s earnings report on November 12.
Lantronix (NASDAQ: LTRX) has partnered with HumanWare to develop the Victor Reader Trek, an innovative GPS and reader device designed for individuals with vision loss. Leveraging Lantronix's Open-Q 410 System on Module (SOM), the collaboration enabled rapid market entry and cost reduction. The Trek features an intuitive user interface, GPS capabilities, and supports multimedia content. The device aims to enhance navigation and information access for users while ensuring longevity through open-source Linux integration.
Lantronix (NASDAQ: LTRX) will report financial results for its fiscal 2021 first quarter on November 12, 2020, after market close. An investor conference call will follow at 2:00 PM PT. Investors can join by dialing 1-844-802-2442 (US) or 1-412-317-5135 (international) and can access the webcast on Lantronix's website. The company specializes in Software as a Service (SaaS), engineering services, and hardware for Edge Computing and the Internet of Things (IoT), aiming to enhance reliability and security in IoT applications.
Lantronix announced its engineering team has partnered with Embodied Inc. to develop a secure operating system for Moxie, a companion robot aimed at enhancing children's emotional and cognitive skills. The collaboration focuses on advanced IoT, privacy, and security features, crucial for a child-friendly product. The robot utilizes AI to engage with children through emotive speech and expressions. Deliverables include secure boot systems and adaptive camera technologies that ensure safety and quality in various environments. This partnership enables a quicker market launch for Moxie, leveraging Lantronix's expertise.
Lantronix has announced the launch of the Open-Q 610 micro System on Module (µSOM), powered by the Qualcomm QCS610 SoC. This ultra-compact device enhances AI performance by up to 50% compared to its predecessor, making it suitable for various applications, including smart cameras and robotics. The Open-Q 610 integrates high-resolution camera capabilities, on-device AI processing, and native Ethernet support, addressing multiple vertical markets. Additionally, the Open-Q 610 Development Kit facilitates rapid product development for developers.
Lantronix (NASDAQ: LTRX) has launched the Open-Q 865XR System on Module (SOM) designed for Internet of Things (IoT) applications. This ultra-compact SOM features advanced capabilities for Augmented Reality/Virtual Reality (AR/VR) applications and is powered by Qualcomm technology, offering significant processing power with up to 15 TOPS from its AI engine. The Open-Q 865XR provides enhanced connectivity options, including Wi-Fi 6 and PCIe. Initial customer interest spans gaming, medical, and logistics sectors, with a development kit available to accelerate product innovation.
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