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 frequently in the news for developments in Edge AI, Industrial IoT and unmanned systems. The company’s press releases highlight new product launches, collaborations and financial updates that illustrate how its intelligent computing, secure connectivity and remote management solutions are applied in mission‑critical environments.
Recent news has focused on Lantronix’s Edge AI platforms for surveillance and video analytics, such as its SmartEdge.ai Edge AI gateway and SmartSwitch.ai aggregation switch, which form an integrated edge surveillance and connectivity ecosystem designed for real‑time video analytics and AI‑driven insights. Other announcements describe a Drone Reference Platform intended to accelerate unmanned aerial vehicle development and support applications including intelligence, surveillance and reconnaissance, security monitoring and industrial inspection.
Lantronix also issues news on strategic collaborations in the drone and defense markets, where its Edge AI technology is used in gimbaled imaging systems and AI‑driven video processors for uncrewed aircraft systems. Financial news items include quarterly earnings results, non‑GAAP performance metrics and commentary on business momentum in areas such as drone OEM engagements and Edge AI platforms.
Investors and observers following LTRX news can expect updates on earnings announcements, Edge AI product introductions, partnerships in smart cities and unmanned systems, and participation in investor conferences. This mix of product, market and financial disclosures provides insight into how Lantronix is positioning its Edge AI and Industrial IoT solutions across high‑growth applications.
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.
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.
Summary not available.
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.
Summary not available.
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.