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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 (NASDAQ: LTRX), a provider of IoT solutions, has integrated its wireless connectivity and power management technologies into the Guardhat Communicator smart hardhat. This innovative device enhances worker safety by connecting them to a remote command center via sensors, camera, and microphones. The Guardhat Communicator offers voice and video communication and a single-button emergency call feature. Utilizing Lantronix's Open-Q 626 μSOM and Development Kit, the hardhat provides real-time alerts and decision-making support for industrial workers.
Lantronix (NASDAQ: LTRX) has announced the upcoming launch of its advanced Open-Q 610 μSOM, aimed at enhancing connected visual intelligence applications. This ultra-compact module, featuring the Qualcomm QCS610 System-on-Chip, supports high-resolution camera capabilities and AI processing. Designed for various industries, the Open-Q 610 μSOM facilitates rapid product development and a streamlined manufacturing process. A companion Open-Q 610 Development Kit will also be released, providing comprehensive support for developers looking to innovate in smart camera technology.
Lantronix (Nasdaq: LTRX) plans to release its fiscal 2020 Q4 financial results on September 10, 2020, after market close. The company anticipates net revenues between $17.1 million and $17.6 million, reflecting a 4% to 7% sequential increase and a significant 68% to 73% increase year-over-year. Despite challenges from COVID-19 supply chain disruptions, management expects continued revenue growth. Cash reserves have grown to $7.7 million. An investor call will take place on the same date at 2:00 PM PT.
Lantronix (Nasdaq: LTRX), a leader in secure data access solutions for the IoT, announced its fall 2020 investor conference schedule. The CEO and CFO will participate in multiple virtual conferences, including the Canaccord Genuity Growth Conference from Aug. 11-13, where they will host one-on-one meetings and a presentation on Aug. 13. Additional events include the Oppenheimer and BMO Virtual Summits and the Lake Street Capital Best Ideas Conference. These engagements aim to connect with institutional investors and showcase the company's offerings in IoT solutions.
Lantronix (NASDAQ: LTRX) announced that its IoT solutions are now Wi-Fi Certified™ by the Wi-Fi Alliance, ensuring interoperability and security standards. This certification applies to products such as the xPico 250, xPico 270, PremierWave 2050, and SGX 5150. The rigorous testing confirms the capabilities of these products, designed to offer seamless connectivity for smart connected products with lower implementation risks. Lantronix emphasizes that this certification enhances customer confidence and reduces support costs.
Lantronix (NASDAQ: LTRX) and Cypress have partnered to deliver smart wireless connectivity solutions for industrial weighing scales, aiming to enhance retail automation. This collaboration supports the growing $5 billion industrial weighing scales market, particularly in grocery, which represents 33% of sales. Their solution utilizes the Lantronix xPico 240 IoT Gateway and the Cypress CYW43907 SoC, enabling significant flexibility and efficiency for grocery chains. Key benefits include rapid prototype development and reduced development costs, accelerating market readiness.
Lantronix (NASDAQ: LTRX) has collaborated with Misty Robotics to create Misty II, an open-platform robot designed for education, eldercare, and COVID-19 safety applications. Integrating Qualcomm technologies, Misty II offers advanced features like spatial awareness, high-resolution imaging, and customizable hardware and software capabilities. The project stems from Lantronix’s acquisition of Intrinsyc Technologies, enhancing its edge computing and engineering services. This partnership aims to foster innovation in robotics by enabling developers to create diverse applications, potentially shaping the future of the industry.
Lantronix (NASDAQ: LTRX) announced its ConsoleFlow cloud-based solution has successfully passed rigorous penetration testing and source code review by cybersecurity firm IntelligINTS. This validation confirms ConsoleFlow's security for remote management, particularly for critical hospital equipment. The software enables secure, centralized management for IoT devices, enhancing operational efficiency while ensuring data encryption. Lantronix aims to support secure remote operations amidst increasing demand for medical technology.
Lantronix (NASDAQ: LTRX) reports increased demand for its IoT and Intelligent Edge Solutions due to the surge in video conferencing from remote work during COVID-19. With Zoom's active users skyrocketing from 10 million in January to over 300 million by April, and similar growth across Microsoft Teams and Cisco WebEx, Lantronix aims to support this trend. The company highlights its acquisition of Intrinsyc, enhancing its product offerings. According to Gartner, 74% of CFOs predict a shift towards permanent remote work, indicating a sustained need for video conferencing solutions in the future.
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