Lantronix Financials
This page shows Lantronix (LTRX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Lantronix’s FY2025 story is a volume-driven profit squeeze partly masked by working-capital cash release and light reinvestment.
FY2025 free cash flow remained positive at$6.8M even as the net loss widened to-$11.4M , because lower receivables and inventory converted a sales slowdown into cash instead of trapping it on the balance sheet. Since FY2024 also showed positive FCF at$17.1M , the repeated cash/profit gap suggests recent cash generation owes more to a working-capital unwind and very light capex than to a business that has reached operating breakeven.
The sharper issue in FY2025 was cost absorption, not product economics: gross margin improved to
Liquidity still looks comfortable, with
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Lantronix's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Lantronix scores 1.54, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($249.4M) relative to total liabilities ($49.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Lantronix passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Lantronix generates $-0.64 in operating cash flow ($7.3M OCF vs -$11.4M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Lantronix earns $-21.5 in operating income for every $1 of interest expense (-$11.0M vs $511K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Lantronix generated $122.9M in revenue in fiscal year 2025. This represents a decrease of 23.3% from the prior year.
Lantronix's EBITDA was -$8.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1175.7% from the prior year.
Lantronix reported -$11.4M in net income in fiscal year 2025. This represents a decrease of 151.8% from the prior year.
Lantronix earned $-0.29 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 141.7% from the prior year.
Cash & Balance Sheet
Lantronix generated $6.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 60.5% from the prior year.
Lantronix held $20.1M in cash against $8.7M in long-term debt as of fiscal year 2025.
Lantronix had 39M shares outstanding in fiscal year 2025. This represents an increase of 3.2% from the prior year.
Margins & Returns
Lantronix's gross margin was 42.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.9 percentage points from the prior year.
Lantronix's operating margin was -8.9% in fiscal year 2025, reflecting core business profitability. This is down 7.2 percentage points from the prior year.
Lantronix's net profit margin was -9.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 6.4 percentage points from the prior year.
Lantronix's ROE was -15.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 9.7 percentage points from the prior year.
Capital Allocation
Lantronix invested $18.6M in research and development in fiscal year 2025. This represents a decrease of 8.3% from the prior year.
Lantronix invested $505K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 65.9% from the prior year.
LTRX Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $30.2M+1.4% | $29.8M-0.1% | $29.8M+3.3% | $28.8M+1.2% | $28.5M-8.5% | $31.2M-9.5% | $34.4M-29.9% | $49.1M |
| Cost of Revenue | $17.2M+2.2% | $16.8M+2.2% | $16.4M-4.9% | $17.3M+7.5% | $16.1M-10.0% | $17.9M-10.4% | $19.9M-34.3% | $30.4M |
| Gross Profit | $13.0M+0.3% | $13.0M-2.8% | $13.3M+15.7% | $11.5M-7.0% | $12.4M-6.6% | $13.3M-8.2% | $14.5M-22.7% | $18.7M |
| R&D Expenses | $4.1M-10.2% | $4.6M+0.5% | $4.6M+9.6% | $4.2M-6.0% | $4.5M-10.5% | $5.0M+0.6% | $5.0M-5.9% | $5.3M |
| SG&A Expenses | $9.4M+7.9% | $8.7M-8.4% | $9.5M+6.3% | $9.0M+0.2% | $9.0M+1.7% | $8.8M-7.2% | $9.5M-14.1% | $11.1M |
| Operating Income | -$1.1M-5.0% | -$1.1M+29.7% | -$1.5M+51.3% | -$3.1M+12.4% | -$3.6M-65.7% | -$2.2M-1.5% | -$2.1M-476.6% | $565K |
| Interest Expense | -$2K+77.8% | -$9K+40.0% | -$15K+86.0% | -$107K+32.7% | -$159K-26.2% | -$126K-5.9% | -$119K+32.0% | -$175K |
| Income Tax | $34K-86.0% | $243K+478.6% | $42K+106.3% | -$662K-696.4% | $111K+18.1% | $94K-56.9% | $218K+1576.9% | $13K |
| Net Income | -$1.2M+11.2% | -$1.3M+5.1% | -$1.4M+46.8% | -$2.6M+32.0% | -$3.9M-63.1% | -$2.4M+5.2% | -$2.5M-748.2% | $386K |
| EPS (Diluted) | $-0.030.0% | $-0.03+25.0% | $-0.04 | N/A | $-0.10-66.7% | $-0.06+14.3% | $-0.07 | N/A |
LTRX Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $120.0M-1.4% | $121.7M+1.8% | $119.6M-3.4% | $123.7M-0.4% | $124.2M-7.5% | $134.2M-2.6% | $137.9M+1.2% | $136.2M |
| Current Assets | $77.0M-1.2% | $77.9M+4.7% | $74.4M-3.8% | $77.4M+1.2% | $76.5M-10.6% | $85.6M-7.6% | $92.6M+4.1% | $89.0M |
| Cash & Equivalents | $23.5M+2.4% | $23.0M+3.5% | $22.2M+10.4% | $20.1M+0.5% | $20.0M+4.1% | $19.2M-27.2% | $26.4M+0.6% | $26.2M |
| Inventory | $26.4M-2.4% | $27.1M+1.2% | $26.8M+1.5% | $26.4M-6.3% | $28.2M-3.2% | $29.1M-1.6% | $29.5M+6.6% | $27.7M |
| Accounts Receivable | $23.5M+1.1% | $23.3M+6.1% | $21.9M-12.6% | $25.1M+6.1% | $23.6M-22.4% | $30.5M-1.1% | $30.8M-1.5% | $31.3M |
| Goodwill | $31.1M0.0% | $31.1M0.0% | $31.1M0.0% | $31.1M0.0% | $31.1M+2.0% | $30.5M+9.6% | $27.8M0.0% | $27.8M |
| Total Liabilities | $45.5M-3.7% | $47.3M+4.9% | $45.1M-8.6% | $49.3M+1.3% | $48.7M-13.5% | $56.3M-4.4% | $58.9M+7.4% | $54.9M |
| Current Liabilities | $28.1M-1.0% | $28.4M+14.7% | $24.7M-18.7% | $30.4M+6.5% | $28.6M-14.6% | $33.4M-5.8% | $35.5M+17.7% | $30.2M |
| Long-Term Debt | $8.7M-10.2% | $9.7M-9.2% | $10.7M+22.8% | $8.7M-8.2% | $9.5M-18.7% | $11.6M-6.3% | $12.4M-6.1% | $13.2M |
| Total Equity | $74.5M+0.1% | $74.4M0.0% | $74.5M+0.1% | $74.4M-1.4% | $75.5M-3.1% | $77.9M-1.3% | $78.9M-3.0% | $81.4M |
| Retained Earnings | -$238.3M-0.5% | -$237.1M-0.6% | -$235.8M-0.6% | -$234.4M-1.1% | -$231.8M-1.7% | -$227.9M-1.1% | -$225.5M-1.1% | -$223.0M |
LTRX Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.2M-0.5% | $2.2M-39.6% | $3.6M+242.7% | $1.1M-67.4% | $3.2M+850.0% | $340K-87.2% | $2.7M+17.1% | $2.3M |
| Capital Expenditures | $237K+157.6% | $92K+24.3% | $74K-48.3% | $143K+18.2% | $121K+44.0% | $84K-46.5% | $157K+1.9% | $154K |
| Free Cash Flow | $1.9M-7.5% | $2.1M-40.9% | $3.5M+288.4% | $909K-70.8% | $3.1M+1114.5% | $256K-89.8% | $2.5M+18.2% | $2.1M |
| Investing Cash Flow | -$237K-157.6% | -$92K-24.3% | -$74K+48.3% | -$143K-18.2% | -$121K+98.2% | -$6.5M-4066.9% | -$157K-1.9% | -$154K |
| Financing Cash Flow | -$1.4M-5.0% | -$1.3M+8.7% | -$1.4M-77.5% | -$810K+65.1% | -$2.3M-136.0% | -$983K+58.1% | -$2.3M-346.4% | -$526K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
LTRX Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 43.1%-0.5pp | 43.5%-1.2pp | 44.8%+4.8pp | 40.0%-3.5pp | 43.5%+0.9pp | 42.6%+0.6pp | 42.0%+3.9pp | 38.1% |
| Operating Margin | -3.7%-0.1pp | -3.6%+1.5pp | -5.1%+5.7pp | -10.9%+1.7pp | -12.6%-5.6pp | -6.9%-0.8pp | -6.2%-7.3pp | 1.1% |
| Net Margin | -3.9%+0.6pp | -4.5%+0.2pp | -4.7%+4.4pp | -9.1%+4.4pp | -13.6%-6.0pp | -7.6%-0.3pp | -7.3%-8.1pp | 0.8% |
| Return on Equity | -1.6%+0.2pp | -1.8%+0.1pp | -1.9%+1.7pp | -3.5%+1.6pp | -5.1%-2.1pp | -3.0%+0.1pp | -3.2%-3.6pp | 0.5% |
| Return on Assets | -1.0%+0.1pp | -1.1%+0.1pp | -1.2%+1.0pp | -2.1%+1.0pp | -3.1%-1.3pp | -1.8%+0.0pp | -1.8%-2.1pp | 0.3% |
| Current Ratio | 2.740.0 | 2.75-0.3 | 3.01+0.5 | 2.54-0.1 | 2.68+0.1 | 2.56-0.0 | 2.61-0.3 | 2.95 |
| Debt-to-Equity | 0.12-0.0 | 0.13-0.0 | 0.14+0.0 | 0.120.0 | 0.13-0.0 | 0.150.0 | 0.160.0 | 0.16 |
| FCF Margin | 6.4%-0.6pp | 7.0%-4.8pp | 11.8%+8.7pp | 3.1%-7.8pp | 10.9%+10.1pp | 0.8%-6.5pp | 7.3%+3.0pp | 4.3% |
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Frequently Asked Questions
What is Lantronix's annual revenue?
Lantronix (LTRX) reported $122.9M in total revenue for fiscal year 2025. This represents a -23.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Lantronix's revenue growing?
Lantronix (LTRX) revenue declined by 23.3% year-over-year, from $160.3M to $122.9M in fiscal year 2025.
Is Lantronix profitable?
No, Lantronix (LTRX) reported a net income of -$11.4M in fiscal year 2025, with a net profit margin of -9.3%.
What is Lantronix's EBITDA?
Lantronix (LTRX) had EBITDA of -$8.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Lantronix have?
As of fiscal year 2025, Lantronix (LTRX) had $20.1M in cash and equivalents against $8.7M in long-term debt.
What is Lantronix's gross margin?
Lantronix (LTRX) had a gross margin of 42.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Lantronix's operating margin?
Lantronix (LTRX) had an operating margin of -8.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Lantronix's net profit margin?
Lantronix (LTRX) had a net profit margin of -9.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Lantronix's return on equity (ROE)?
Lantronix (LTRX) has a return on equity of -15.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Lantronix's free cash flow?
Lantronix (LTRX) generated $6.8M in free cash flow during fiscal year 2025. This represents a -60.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Lantronix's operating cash flow?
Lantronix (LTRX) generated $7.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Lantronix's total assets?
Lantronix (LTRX) had $123.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Lantronix's capital expenditures?
Lantronix (LTRX) invested $505K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Lantronix spend on research and development?
Lantronix (LTRX) invested $18.6M in research and development during fiscal year 2025.
What is Lantronix's current ratio?
Lantronix (LTRX) had a current ratio of 2.54 as of fiscal year 2025, which is generally considered healthy.
What is Lantronix's debt-to-equity ratio?
Lantronix (LTRX) had a debt-to-equity ratio of 0.12 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Lantronix's return on assets (ROA)?
Lantronix (LTRX) had a return on assets of -9.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Lantronix's Altman Z-Score?
Lantronix (LTRX) has an Altman Z-Score of 1.54, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Lantronix's Piotroski F-Score?
Lantronix (LTRX) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Lantronix's earnings high quality?
Lantronix (LTRX) has an earnings quality ratio of -0.64x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Lantronix cover its interest payments?
Lantronix (LTRX) has an interest coverage ratio of -21.5x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Lantronix?
Lantronix (LTRX) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.