Lantronix Stock Price, News & Analysis

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.

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.