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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) announced it will release financial results for its fiscal 2023 second quarter, ending December 31, 2022, after market close on February 9, 2023. The management will conduct an investor conference call at 2:00 PM PT (5:00 PM ET) on the same day. Investors can participate by calling 1-844-802-2442 (US) or 1-412-317-5135 (international). A replay of the call will be available at around 7:00 PM PT, and a telephonic replay will be accessible until February 16, 2023. Lantronix is a provider of secure IoT solutions, offering various services including Software as a Service (SaaS) and connectivity services.
Lantronix Inc. (NASDAQ: LTRX) has expanded its Open-Q chipset family with new Open-Q 2290CS and Open-Q 4290CS System-in-Package (SIP) modules, designed for industrial IoT applications. These modules utilize Qualcomm's advanced heterogenous compute architecture, promising enhanced performance and connectivity. The SIP modules are footprint compatible, aiding hardware flexibility. Additionally, the System on Module (SoM) market is projected to grow from over $1 billion in 2022 to $5 billion by 2032, with a 15% CAGR. CEO Paul Pickle emphasized the importance of Qualcomm technology in supporting rapid IoT product development.
Lantronix Inc. (NASDAQ: LTRX) appointed Eric Bass as vice president of Engineering, effective Jan. 30, 2023, bringing over 25 years of design and engineering experience. Previously, Bass held senior roles at CEVA and Microsemi Corporation, where he led significant technology initiatives. As part of his induction, he will receive 59,267 restricted share units (RSUs) and 100,000 stock options. The RSUs will vest over four years, with the first batch vesting on March 1, 2024. The options will also vest over three years based on a designated exercise price.
Lantronix Inc. (NASDAQ: LTRX) announced a significant production contract with Gridspertise for Quantum Edge units, marking the largest order in the company's history.
The contract's increased value results from customer-driven design changes, enhancing Lantronix's revenue prospects. However, this has postponed pilot production, leading to a revised revenue forecast of $135 million to $145 million for fiscal 2023, reflecting a 4% to 12% year-over-year growth. The company anticipates reporting preliminary revenue of $31 million to $32 million for Q2 2023. Significant revenue from this contract is now expected in fiscal 2024, impacting current revenue recognition timelines.
Lantronix (NASDAQ: LTRX) announced that its CFO, Jeremy Whitaker, will present at the 25th Annual Needham Virtual Growth Conference on Jan. 11, 2023, at 2:15 p.m. EST. A live webcast will be available, with a replay accessible for 30 days post-event. In-person meetings are also scheduled for Jan. 10 and 11. Lantronix provides secure turnkey solutions for the Industrial Internet of Things (IoT) and Intelligent IT markets, enhancing operational efficiency and time to market.
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.
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