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. reports developments in Edge AI and Industrial IoT solutions for mission-critical applications, including intelligent computing, secure connectivity and remote management. Company news commonly covers fiscal results, investor conference participation, embedded compute expansion and product launches for autonomous systems, critical infrastructure, enterprise IT and smart-city networks.
Recurring product and market updates include Open-Q system-on-module platforms, the Drone Reference Platform, SmartSwitch.ai, SmartEdge gateways, and Power over Ethernet switches and media converters, including products from Transition Networks. Lantronix also announces collaborations involving NDAA-compliant drone components and edge-AI compute architectures for commercial and defense unmanned systems.
Lantronix (Nasdaq: LTRX) announces that CEO Paul Pickle and CFO Jeremy Whitaker will present at the 24th Annual Needham Virtual Growth Conference on Jan. 12, 2022, at 12:30 p.m. PT (3:30 p.m. ET). A webcast of the event will be available. Additionally, the management will hold virtual one-on-one meetings on Jan. 11 and 12, 2022, with all slots currently filled. Lantronix specializes in secure IoT solutions, offering a range of services including Software as a Service (SaaS) and intelligent hardware.
Lantronix (NASDAQ: LTRX) has joined the exclusive Qualcomm Authorized Design Center Program focused on automotive innovation. This participation will enhance Lantronix's capabilities to provide engineering and design expertise centered around Qualcomm's 3rd Generation Snapdragon Automotive Cockpit Platform. The program aims to accelerate product commercialization in the automotive sector, leveraging advanced AI and multimedia features to meet stringent industry standards. Lantronix's experience with Qualcomm underscores its commitment to delivering cutting-edge solutions in IoT and automotive applications.
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Communications Systems (JCS) announced a purchase agreement on November 18, 2021, with Buhl Investors LLC to sell its headquarters in Minnetonka, MN, for $6.8 million. The transaction is contingent upon the Buyer completing due diligence within 90 days and obtaining regulatory approval for a multi-tenant office use. Furthermore, CSI plans to distribute sale proceeds in the form of dividends or Contingent Value Rights (CVR) to shareholders, pending the closing of this sale and its merger with Pineapple Energy, aimed at expanding its solar and energy service operations.
Lantronix (NASDAQ: LTRX) announced a public offering of 4,700,000 shares at $7.50 each, expecting gross proceeds of approximately $35.3 million. The offering will close around November 22, 2021, pending customary conditions. TL Investment GmbH has granted underwriters a 30-day option for an additional 705,000 shares. Proceeds will fund working capital and may repay existing debt. Canaccord Genuity and Craig-Hallum are managing the offering. The company will not receive any proceeds from shares sold by TL Investment GmbH.
Lantronix, Inc. (NASDAQ: LTRX) has initiated a proposed underwritten public offering of shares of its common stock, subject to market conditions. TL Investment GmbH plans to grant underwriters a 30-day option to purchase additional shares. Net proceeds will be utilized for working capital, possibly including repaying existing debt. The offering follows two effective shelf registration statements from the SEC. Canaccord Genuity and Craig-Hallum are the joint book-running managers. The final terms will be disclosed in a prospectus supplement.
Lantronix Inc. (LTRX) has announced its all-in-one connectivity solution designed to enhance the management and monitoring of distributed retail sites. This innovation aims to improve operational efficiency and increase uptime, ultimately helping stores grow their revenues. The solution enables remote control of IT and IoT devices, facilitating troubleshooting without on-site technical staff. Current market trends indicate a growing need for such connectivity solutions due to the increasing complexity of network management in retail environments.
Communications Systems, Inc. (NASDAQ: JCS) reported a net income of $8.6 million for Q3 2021, significantly up from $262,000 in Q3 2020, primarily due to a $13.5 million gain from the sale of its Electronics & Software segment to Lantronix (NASDAQ: LTRX). Revenues from continuing operations fell 45.5% to $1.8 million, impacted by the loss of a major educational customer. Recurring revenues increased by 74% to $1.5 million, reflecting successful acquisitions. The company paid a $3.50 special dividend totaling $34 million on October 15, 2021, from proceeds of the divestiture.
Lantronix reported a record first quarter net revenue of $27.7 million, reflecting a substantial 62% YoY increase and a 34% sequential rise. The company reported a GAAP EPS of ($0.08) compared to ($0.01) in the previous year, while the non-GAAP EPS improved to $0.08 from $0.05. Demand for Lantronix solutions has strengthened, resulting in a record backlog entering Q2. The cash balance increased to $10.3 million. Despite supply chain challenges, the company anticipates fiscal year revenue growth between 54–75% with non-GAAP EPS growth expected at 95–135%.
Lantronix (NASDAQ: LTRX) announced preliminary revenue results for fiscal Q1 2022, reporting expected revenues exceeding $27 million, driven by strong demand and effective supply chain management. The results reflect a record backlog, with final figures to be released on November 11, 2021. The company is set to host an investor conference call on the same date to discuss the results further. However, these preliminary results are subject to change and should not replace standard GAAP financial statements.