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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 Inc. (LTRX) reported a first quarter net revenue of $31.8 million, achieving a 15% year-over-year increase. The GAAP EPS stood at (0.05), an improvement from (0.08) a year prior. However, the non-GAAP EPS decreased to $0.07 from $0.08 year over year. The company raised its full year fiscal 2023 revenue guidance to a projected range of $155 million to $165 million, reflecting a 20% to 27% increase year-over-year. Non-GAAP EPS guidance was also increased to $0.41 to $0.46 per share, indicating a up to 39% growth.
Lantronix Inc. (NASDAQ: LTRX) plans to release its financial results for the first quarter of fiscal 2023, which ended on September 30, 2022, on November 9, 2022, after market close. The Company will host a conference call at 2:00 PM Pacific Time that day, accessible via phone or webcast. Investors can also replay the call after it concludes. Lantronix provides secure IoT and Remote Environment Management solutions, helping customers enhance efficiency through its services and products across various industries.
Lantronix Inc. (NASDAQ: LTRX) has launched new PNT Series GNSS Receiver Modules, enabling advanced positioning, tracking, and navigation features in consumer and commercial applications. The modules serve various sectors, including asset tracking, agriculture, and fleet management. With a projected growth of the GNSS market to USD $486 billion by 2031, demand for these capabilities is set to skyrocket. The PNT-SG3FS model is available now, while the PNT-SG4FM will be released soon, both designed to enhance the functionality of IoT products.
Lantronix Inc. (NASDAQ: LTRX) announced the launch of its new Managed Layer 2 Hardened Gigabit Ethernet PoE++ Switch, the LSS2200-8P, designed for IoT and IP devices in smart buildings and rugged environments. The switch features cloud-based management via ConsoleFlow, allowing real-time monitoring and management. It supports a total power budget of 720W with 90W PoE per port, catering to high-powered devices. The global market for smart buildings is expected to grow at a CAGR of 14.9%, reaching 34.4 million connected systems by 2024, enhancing prospects for Lantronix's IoT solutions.
Lantronix (LTRX) has announced the successful implementation of its 24-Port Managed Gigabit Ethernet PoE++ Switch in an Intelligent IoT Lighting solution for a large Texas school district. This project, executed by Bryte Light, powered over 4,700 lighting devices and achieved a remarkable 41.4% reduction in energy usage, equating to annual savings of $33,665. The switch enhances operational efficiency by integrating with HVAC and security systems while reducing the carbon footprint significantly. The lighting's lifespan is doubled, lowering maintenance needs.
Lantronix Inc. (NASDAQ: LTRX) announced its acquisition of Out-of-Band management solutions provider Uplogix Inc. for approximately $8 million in cash, plus an additional contingent payment of up to $4 million based on revenue targets. This acquisition is expected to enhance Lantronix's scale in remote management solutions, increase high-margin revenue, and drive engineering synergies. The company anticipates the deal will be accretive to GAAP gross margins and non-GAAP earnings within the first six months. Uplogix reported revenues of around $9 million over the last twelve months.
Lantronix Inc. (LTRX) announced the launch of its new Managed Gigabit Power-over-Ethernet ++ (PoE++) Switch, designed for intelligent LED lighting and smart building IoT applications. This switch provides 90 watts per port, increasing efficiency and enabling a greater number of applications. With a 52 Gbps switching capacity and support for 24 PoE++ ports, it complies with IEEE standards. The global market for building automation is projected to grow from $31.8 billion in 2021 to $48.4 billion by 2024, indicating strong industry demand.
Lantronix reported record fourth quarter revenues of $35.9 million, a 74% increase year-over-year and an 11% rise sequentially. The company posted a GAAP EPS of $0.07 versus a loss of ($0.04) in the same quarter last year, and a non-GAAP EPS of $0.08 compared to $0.06 previously. For full year fiscal 2023, revenue guidance is set between $149 million and $162 million, indicating growth of 15% to 25% year-over-year. Non-GAAP EPS guidance is projected at $0.39 to $0.44, a year-over-year increase of 18% to 33%.
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