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 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%.
Lantronix, Inc. (LTRX) announced a rescheduling of its fourth quarter fiscal 2022 earnings report, now set for August 25, 2022, to allow its accounting firm to finalize audits. The company expects record revenues exceeding $35 million for Q4 and projects full fiscal year 2023 revenues between $149 million to $162 million, indicating a growth of 15% to 25%. Investors can join a conference call at 2:00 PM PT on the same day for detailed insights.
Lantronix Inc. (NASDAQ: LTRX) will release its fiscal 2022 fourth-quarter financial results on August 18, 2022, after market close. An investor conference call will be held at 2:00 p.m. PT (5:00 p.m. ET) on the same day. Investors can join the call by dialing the provided numbers or accessing via the company's website. A replay will be available afterward.
Lantronix specializes in secure turnkey solutions for the IoT and Remote Environment Management, offering various services to enhance operational efficiency and connectivity.
Lantronix Inc. (Nasdaq: LTRX) announced preliminary revenue estimates for Q4 FY2022, projecting record revenues exceeding $35 million due to strong demand for intelligent edge compute products. This announcement precedes their participation in the CG 42nd Annual Growth Conference on August 11, 2022. While the revenue outlook appears positive, the results are preliminary and subject to change following the completion of closing procedures. Investors are cautioned about risks associated with forward-looking statements regarding future business conditions.
Lantronix Inc. (NASDAQ: LTRX) will exhibit its Open-Q 5165RB SOM at Embedded World 2022, showcasing AI-at-the-edge applications. Based on Qualcomm® QRB5165 SoC, this ultra-compact module designed for low-power embedded situations integrates advanced AI Engine and hardware video analytics. The demo includes real-time facial recognition and detection, aimed at accelerating product development. CEO Paul Pickle highlights their collaboration with Qualcomm to enhance IoT solutions.
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