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 (NASDAQ: LTRX), a leading provider of compute and connectivity IoT solutions, announced that its CEO, Saleel Awsare, will participate in the ROTH 10th Annual London Conference on June 26–27, 2024. The event will be held at the Four Seasons London at Park Lane. During the conference, Awsare will engage in one-on-one meetings with investors. Interested parties can request a meeting by emailing oneononerequests@roth.com or contacting their ROTH sales representative. Additional information and registration can be done through the event's official page.
Lantronix (NASDAQ: LTRX) has been awarded the 2024 IoT Evolution Asset Tracking Award for its FOX3 telematic gateways. This accolade, based on a case study with Quantum Aviation Solutions, highlights the innovation in IoT technologies for asset tracking. The FOX3 gateways enable real-time data collection and historic analysis for fleet management, leading to increased efficiency and reduced costs. Market research predicts a 10.5% CAGR in global shipments of aftermarket telematics devices, reaching 77.6 million units and a market value of $3.7 billion by 2027.
Lantronix has announced a new case study on HY-LINE Group's Smart Shelf, a digital retail shelf signage solution. This solution integrates Lantronix’s E210 Series Router (E214) with IoT SIM Connectivity Services and the Percepxion Cloud IoT Edge Solutions platform.
HY-LINE's Smart Shelf engages customers and captures buying behaviors while providing analytics to boost sales. The solution offers secure connectivity via LAN, WLAN, or cellular IoT SIM, scalable cloud management, and live updates for promotions or price changes. The retail industry is projected to see a 10% CAGR in IoT device shipments, reaching 19 million units by 2027.
Lantronix's IoT solutions offer plug & play installation, simple-to-update interactive promotions, and remote management via the Percepxion platform, supporting global deployment and customer engagement in the retail market.
On May 30, 2024, Lantronix announced it will showcase its AI-driven out-of-band management solutions at Cisco Live, held in Las Vegas from June 2-6, 2024. These solutions leverage rules-based AI to automatically recover and mitigate network infrastructure during outages, providing secure remote access to gear. Lantronix's innovations aim to automate routine IT tasks, enhancing network security and reliability. Featured products include the AI-Driven Out-of-Band LM83X, LM80, and Control Center, among others. Lantronix is committed to delivering efficient and secure out-of-band solutions with robust technical support.
Lantronix has announced the debut of its Percepxion Cloud Software Platform and new FOX4 and Bolero 43 telematic trackers at the IoT Solutions World Congress in Barcelona from May 21–23, 2024. Additionally, Lantronix will preview its Tracx browser-based fleet management hub. The company's comprehensive and secure IoT solutions are designed to address global edge deployments and diverse connectivity needs. Mathi Gurusamy, Lantronix's chief strategy officer, highlighted the company's role in IoT success. The global aftermarket telematic devices market is forecasted to grow at a CAGR of 10.5% over the next five years, reaching 77.6 million units valued at $3.7 billion by 2027, a trend that Lantronix aims to capitalize on with its innovative offerings.
Lantronix Inc. appoints Mathi Gurusamy as Chief Strategy Officer to drive strategic growth and build market leadership. Gurusamy will lead strategic planning, manage merger and acquisition activities, and drive go-to-market strategies focusing on key IoT technology trends. The company aims to capitalize on Gurusamy's expertise in IoT and high-tech fields to enhance its competitive position and seize growth opportunities. Lantronix will issue Gurusamy inducement awards comprising 95,691 restricted share units (RSUs) and 66,248 performance-based share units (PSUs) to align his interests with the company's performance.
Lantronix Inc. (NASDAQ: LTRX) will participate in the 19th Annual Needham Technology, Media, & Consumer Investor Conference on May 14, 2024. The CFO will engage in a fireside chat and one-on-one meetings with investors. Live audio webcast and replay will be available. Contact CFO Jeremy Whitaker for meeting availability.
Lantronix Inc. reported record revenue for the third quarter of fiscal 2024, with net revenue reaching $41.2 million, up 11% sequentially and 25% year-over-year. GAAP EPS improved to ($0.01) from ($0.08) in the prior year, while Non-GAAP EPS increased to $0.11 from $0.06 in the prior year. The company provided a business outlook for the fourth quarter, expecting revenue between $46.5 million to $51.5 million and non-GAAP EPS of $0.12 to $0.18 per share.
The positive financial performance suggests growth and profitability for Lantronix, positioning the company well for the future.
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