STOCK TITAN

Lantronix Inc - LTRX STOCK NEWS

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.

Rhea-AI Summary

Lantronix Inc. (NASDAQ: LTRX) announced the resignation of CFO Jeremy Whitaker, who departed on September 13, 2024, to join a private company. The company has appointed Brent Stringham, its current Controller, as Interim CFO while conducting a search for a permanent replacement. Stringham, with Lantronix since 2012, brings extensive financial expertise to the role.

To support the transition, Lantronix has engaged David McLennan, former CFO of Sierra Wireless Inc., as a consultant. CEO Saleel Awsare expressed confidence in the company's financial future with this leadership team. Whitaker, who served for 18 years, stated that he balanced completing year-end results at Lantronix with the needs of his new position.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.6%
Tags
none
-
Rhea-AI Summary

Lantronix Inc. (NASDAQ: LTRX) reported record revenue for Q4 and full fiscal 2024. Q4 net revenue reached $49.1 million, up 19% sequentially and 41% year-over-year. Q4 GAAP EPS improved to $0.01 from ($0.05) in the prior year, while non-GAAP EPS rose 150% to $0.15. Annual net revenue grew 22% to $160.3 million, with annual non-GAAP EPS up 74% to $0.40. The company's cash balance increased 95% to $26.2 million. For Q1 fiscal 2025, Lantronix expects revenue between $34-$38 million and non-GAAP EPS of $0.07-$0.11.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
11.11%
Tags
-
Rhea-AI Summary

Lantronix Inc. (NASDAQ: LTRX) has announced the winners of its 2024 SmartEdge™ Partner Program Awards, recognizing top channel partners globally. The awards highlight partners in North America, Asia Pacific, and Europe, Middle East and Africa who have contributed to Lantronix's position as a global compute and connect leader.

Key winners include:

  • North America: TD Synnex (Partner of the Year), WWT (Innovation Partner), Charter (Software & Services Partner)
  • Asia Pacific: Nexty (Partner of the Year), Shanghai Scopecon Technology Co., (Innovation Partner), Sheeltron Digital Pvt. (Software & Services Partner)
  • EMEA: Atlantik Elektronik GmbH (Partner of the Year), Linkwave (Innovation Partner), SOL (Software & Services Partner)

The SmartEdge Partner Program aims to help Value-Added Resellers and Systems Integrators drive revenues by offering Lantronix's innovative IoT, Out-of-Band Management, and Mobility/Connectivity solutions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.58%
Tags
none
Rhea-AI Summary

Lantronix Inc. (NASDAQ: LTRX), a global leader in IoT solutions, has announced its fiscal 2024 fourth quarter financial results release on September 5, 2024, after market close. The company will host an investor conference call and webcast at 2:00 p.m. Pacific Time on the same day. Investors can join the call by dialing 1-844-802-2442 (US) or 1-412-317-5135 (international). A webcast will be available on the company's investor relations website. A replay of the call will be accessible from approximately 7:00 p.m. Pacific Time on September 5, and a telephonic replay will be available until September 12, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.34%
Tags
conferences earnings
-
Rhea-AI Summary

Lantronix Inc. (NASDAQ: LTRX), a global leader in compute and connectivity IoT solutions, has entered into a cooperation agreement with stockholder 180 Degree Capital Corp. As part of this agreement, Narbeh Derhacobian and Kevin Palatnik will be nominated for election to the Lantronix Board of Directors at the company's 2024 Annual Meeting of Stockholders.

CEO Saleel Awsare emphasized the company's commitment to creating shareholder value and working collaboratively with shareholders. Daniel B. Wolfe, President of 180 Degree Capital, expressed appreciation for the constructive process and anticipation of the nominees' contributions to building value at Lantronix. The agreement includes customary standstill and voting commitments from 180 Degree Capital.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary

Lantronix Inc. (NASDAQ: LTRX) has been awarded the 2024 IoT Evolution Product of the Year Award for its Percepxion™ Cloud IoT Edge Solutions platform. This prestigious recognition from IoT Evolution World highlights Lantronix's commitment to advancing business efficiency and innovation in the IoT sector.

Launched in February 2024, Percepxion has set new standards for IoT operations management, serving a diverse clientele from Fortune 100 enterprises to startups. The platform offers comprehensive device lifecycle management, zero-touch automated provisioning, and remote management capabilities. It's pre-configured into Lantronix's IoT gateways, routers, trackers, and switches, making it ideal for critical infrastructure management, fleet management, and smart cities applications.

With the Enterprise IoT market reaching $269 billion in 2023 and growing at 15% year-over-year, Lantronix is well-positioned to capitalize on this expanding market with its innovative solutions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.81%
Tags
none
Rhea-AI Summary

Lantronix Inc. (NASDAQ: LTRX), a global leader in compute and connectivity IoT solutions, has announced its participation in the 44th Annual Growth Conference hosted by Canaccord Genuity. The event will take place at the InterContinental Hotel in Boston on August 14, 2024.

Key details of Lantronix's participation include:

  • A video webcast presentation scheduled for 9:00 a.m. Eastern Daylight Time
  • CEO Saleel Awsare and CFO Jeremy Whitaker will be conducting one-on-one meetings with investors
  • A webcast of the presentation will be available for viewing

This conference provides Lantronix with an opportunity to showcase its growth and connect with potential investors in the IoT solutions sector.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.86%
Tags
none
-
Rhea-AI Summary

Lantronix (NASDAQ: LTRX) has won the 2024 IoT Business Impact Award from IoT Evolution magazine for its outstanding IoT solutions. The recognition highlights Lantronix's E210 Router and its successful global deployment for HY-LINE Group's Smart Shelf project, an easy-to-deploy digital retail shelf signage solution. This solution delivers customer engagement and purchasing behavior analytics, utilizing Lantronix's E210 Series Router with IoT SIM Connectivity Services and Percepxion™ Cloud IoT Edge Solutions platform for secure and centralized management.

According to Berg Insight, the retail industry is projected to grow with a CAGR of 10% over the next three years, reaching 19 million IoT devices by 2027. Lantronix aims to support this growth through its innovative plug-and-play connectivity services. The award affirms Lantronix's strategy of providing end-to-end IoT solutions that ensure security, integration, and ease of use, driving customer success in the IoT-driven market.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.02%
Tags
none
-
Rhea-AI Summary

Lantronix has launched the EDS5000 series of device servers, designed to support 8, 16, or 32 serial managed devices over Ethernet for remote access and management.

The new servers offer advanced features including IPv6 technology, support for multiple serial protocols (RS232, RS422, RS485), and redundant power inputs (AC and DC). The devices are equipped with Ethernet connections via 10/100/1000 copper RJ45 or 100/1000 SFP, catering to various LAN/WAN options. They also have a wide operating temperature range of -10°C to +60°C and a comprehensive Device Security Framework with SSL/TLS, AES, and SSH.

Lantronix aims to address the growing demand for secure and efficient remote device management solutions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.73%
Tags
none
Rhea-AI Summary

Lantronix (NASDAQ: LTRX) will demonstrate its Percepxion™ Edge AI Solution prototype's integration with the Qualcomm® AI Hub at Qualcomm's AI Analyst and Media Workshop on June 25, 2024.

This integration aims to deliver a robust platform for optimized model performance, supporting rapid development and deployment of edge AI solutions across industries such as smart city, transportation, and connected healthcare.

Percepxion facilitates reduced decision latency, data costs, and provides robust cloud connectivity. It simplifies the integration and optimization of AI models for IoT applications.

The Qualcomm AI Hub aids developers with a straightforward Getting Started page, clear APIs, and a supportive Slack community.

The solution leverages the Qualcomm® QRB5165 processor, aiming to streamline AI development processes and create high-performance AI-driven applications.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.68%
Tags
AI

FAQ

What is the current stock price of Lantronix (LTRX)?

The current stock price of Lantronix (LTRX) is $3.64 as of December 20, 2024.

What is the market cap of Lantronix (LTRX)?

The market cap of Lantronix (LTRX) is approximately 139.7M.

What does Lantronix Inc. specialize in?

Lantronix Inc. specializes in providing secure data access and management solutions for the Internet of Things (IoT) and intelligent IT assets.

Which industries does Lantronix serve?

Lantronix serves a wide range of industries including healthcare, industrial, security, energy, transportation, and government sectors.

What are the key product lines of Lantronix?

Lantronix organizes its products into three main categories: IoT Solutions, IoT System Solutions, and Software & Services.

How has Lantronix performed financially in recent quarters?

In the first quarter of fiscal 2024, Lantronix reported net revenue of $33.0 million, up 4% year-over-year. It expects revenue to range between $175 million to $185 million for the fiscal year 2024.

What is the Percepxion platform?

The Percepxion platform accelerates IoT edge device deployments with features like zero-touch automated provisioning and comprehensive device lifecycle management.

How does Lantronix ensure secure data management?

Lantronix ensures secure data management through innovative technologies and solutions like encrypted access, detailed logging, and monitoring in its Out-of-Band (OOB) management solutions.

What are the latest IoT innovations by Lantronix?

Lantronix recently introduced the FOX4 and Bolero 43 Edge Compute Trackers and the Tracx browser-based fleet management hub, targeting the telematics market.

What regions contribute the most revenue for Lantronix?

The Americas contribute the vast majority of total revenue for Lantronix, followed by Europe, the Middle East, Africa, and the Asia Pacific Japan region.

What is Lantronix’s approach to financial reporting?

Lantronix focuses on non-GAAP financial measures to provide a clearer understanding of its operational trends, excluding elements like share-based compensation and restructuring charges.

What is the SNAP 8 Gen 3 Mobile Platform?

The SNAP 8 Gen 3 Mobile Platform is a cutting-edge solution delivering nearly double the AI performance of its predecessor, enabling advanced AI applications in robotics and edge AI.

Lantronix Inc

Nasdaq:LTRX

LTRX Rankings

LTRX Stock Data

139.67M
31.66M
17.72%
36.3%
0.37%
Communication Equipment
Computer Communications Equipment
Link
United States of America
IRVINE