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 leader in secure IoT and IT asset management solutions, specializing in connectivity platforms for industries ranging from healthcare to industrial automation. This page serves as the definitive source for verified company news, offering investors and professionals timely updates on operational milestones.
Access official press releases spanning product innovations, financial results, and strategic partnerships. Our curated collection ensures you stay informed about developments in IoT System Solutions, Edge AI applications, and cybersecurity advancements without promotional bias.
Key content categories include quarterly earnings announcements, technology patent filings, executive leadership updates, and enterprise customer deployments. Each entry provides direct access to primary source materials for due diligence and market analysis.
Bookmark this page for streamlined tracking of Lantronix's progress in enabling secure machine-to-machine communication across smart infrastructure projects worldwide. Check regularly for updates that impact IoT connectivity standards and industrial automation trends.
Lantronix has been recognized as one of the “10 Coolest IoT Hardware Companies” in the 2023 CRN Internet of Things 50 list, placing it among industry giants such as Cisco, Dell Technologies, and Nvidia. The firm specializes in secure turnkey solutions for the Industrial Internet of Things (IoT) and Intelligent IT market. CRN highlights Lantronix's innovative hardware and its impact on the rapidly growing IoT sector. The company aims to help organizations enhance efficiency, productivity, and new business opportunities through cutting-edge technology. According to a Bain & Company report, organizations implementing IoT solutions are projected to see a 20% growth in proofs of concept by 2026, with revenue increases of up to 40%.
Lantronix Inc. (NASDAQ: LTRX) announced the launch of its X300 Compact Gateway IoT Solution, designed for secure, mission-critical applications. This all-in-one package combines gateway hardware with a subscription service, including centralized device management, cellular data, enhanced security, and expert support. According to Berg Insights, the market for cellular IoT gateways is expected to grow significantly, with a forecasted value of $2.18 billion by 2026. The X300 Gateway will be showcased at ISC West in Las Vegas from March 28-31, 2023.
Lantronix Inc. (NASDAQ: LTRX) has announced the release of new Open-Q 2210RB and 4210RB System-in-Package (SIP) chipset modules, enhancing its robotics portfolio. The modules, powered by Qualcomm's QRB2210 and QRB4210 SoCs, are designed for industrial IoT applications, promising lower power consumption and better performance. The Open-Q RB1 and RB2 Development Kits support rapid prototyping, catering to developers' needs. With an expected growth of 260 million service robots by 2026, this strategic advancement aims to simplify product design and accelerate time-to-market. Lantronix also offers engineering services to bolster IoT product development.
Lantronix Inc. (NASDAQ: LTRX) announced its second quarter fiscal 2023 results, reporting net revenue of $31.5 million, a 6% decline year-over-year, and a 1% decrease sequentially. The GAAP EPS was ($0.07), improving from ($0.08) in the previous year, while non-GAAP EPS was $0.04, down from $0.10 year-over-year. For the full fiscal year 2023, the company anticipates revenues between $135 million and $145 million, forecasting a growth of 4% to 12% year-over-year. However, non-GAAP EPS guidance is projected at $0.27 to $0.33, reflecting a potential decline of 22% year-over-year.
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.
