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Lantronix Inc. reports developments in Edge AI and Industrial IoT solutions for mission-critical applications, including intelligent computing, secure connectivity and remote management. Company news commonly covers fiscal results, investor conference participation, embedded compute expansion and product launches for autonomous systems, critical infrastructure, enterprise IT and smart-city networks.
Recurring product and market updates include Open-Q system-on-module platforms, the Drone Reference Platform, SmartSwitch.ai, SmartEdge gateways, and Power over Ethernet switches and media converters, including products from Transition Networks. Lantronix also announces collaborations involving NDAA-compliant drone components and edge-AI compute architectures for commercial and defense unmanned systems.
Lantronix, Inc. (NASDAQ: LTRX) has initiated a proposed underwritten public offering of shares of its common stock, subject to market conditions. TL Investment GmbH plans to grant underwriters a 30-day option to purchase additional shares. Net proceeds will be utilized for working capital, possibly including repaying existing debt. The offering follows two effective shelf registration statements from the SEC. Canaccord Genuity and Craig-Hallum are the joint book-running managers. The final terms will be disclosed in a prospectus supplement.
Lantronix Inc. (LTRX) has announced its all-in-one connectivity solution designed to enhance the management and monitoring of distributed retail sites. This innovation aims to improve operational efficiency and increase uptime, ultimately helping stores grow their revenues. The solution enables remote control of IT and IoT devices, facilitating troubleshooting without on-site technical staff. Current market trends indicate a growing need for such connectivity solutions due to the increasing complexity of network management in retail environments.
Communications Systems, Inc. (NASDAQ: JCS) reported a net income of $8.6 million for Q3 2021, significantly up from $262,000 in Q3 2020, primarily due to a $13.5 million gain from the sale of its Electronics & Software segment to Lantronix (NASDAQ: LTRX). Revenues from continuing operations fell 45.5% to $1.8 million, impacted by the loss of a major educational customer. Recurring revenues increased by 74% to $1.5 million, reflecting successful acquisitions. The company paid a $3.50 special dividend totaling $34 million on October 15, 2021, from proceeds of the divestiture.
Lantronix reported a record first quarter net revenue of $27.7 million, reflecting a substantial 62% YoY increase and a 34% sequential rise. The company reported a GAAP EPS of ($0.08) compared to ($0.01) in the previous year, while the non-GAAP EPS improved to $0.08 from $0.05. Demand for Lantronix solutions has strengthened, resulting in a record backlog entering Q2. The cash balance increased to $10.3 million. Despite supply chain challenges, the company anticipates fiscal year revenue growth between 54–75% with non-GAAP EPS growth expected at 95–135%.
Lantronix (NASDAQ: LTRX) announced preliminary revenue results for fiscal Q1 2022, reporting expected revenues exceeding $27 million, driven by strong demand and effective supply chain management. The results reflect a record backlog, with final figures to be released on November 11, 2021. The company is set to host an investor conference call on the same date to discuss the results further. However, these preliminary results are subject to change and should not replace standard GAAP financial statements.
Lantronix (NASDAQ: LTRX) has announced a partnership with Green Hills Software to develop secure computing platforms for automotive electronic systems. This collaboration integrates Lantronix's Qualcomm Snapdragon SA8155P hardware with Green Hills' INTEGRITY real-time operating systems. The joint solution aims to reduce development complexity, enabling quicker production for OEMs. Key benefits include rapid platform evaluation, proof-of-concept trials, and enhanced software tools that address safety and security requirements. The platform is available immediately, targeting automotive manufacturers and their suppliers.
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Lantronix Inc. (NASDAQ: LTRX) has announced the opening of its new Design Center in Ilmenau, Germany, aimed at enhancing engineering support for EMEA customers. This facility will host a team focused on design engineering, system architecture, and quality assurance for innovative IoT solutions. The grand opening is set for October 15, 2021, showcasing Lantronix's commitment to local engineering resources and facilitating faster product development. CEO Paul Pickle emphasized this expansion as crucial for the company's growth strategy.
Lantronix has announced new features in its eStore, enabling easy self-serve ordering of SIM cards, data plans, and site-to-site VPN security for customers across 600 networks in 185 countries. This expansion allows users to quickly deploy cellular data connectivity for IoT solutions and manage them efficiently through an IoT platform. The introduction of secure site-to-site VPN enhances data integrity with IPsec tunnels. The global cellular IoT market is projected to grow, reaching 3.74 billion connected devices by 2025, positioning Lantronix as a market leader.
Lantronix, Inc. (NASDAQ: LTRX) announced the formation of an Advisory Board to enhance strategic development and leverage industry expertise. Bernhard Bruscha, the company's Chair, will retire in November 2021 but will continue as the Advisory Board's Chair. Bruscha has been instrumental in shaping the company since its founding in 1989. Additionally, Dr. Heidi Nguyen is nominated for election at the upcoming Annual Meeting, representing TL Investment, GmbH, a major stockholder. These changes aim to strengthen Lantronix's capabilities in providing IoT solutions and support its growth trajectory.