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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 (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.
Lantronix Inc. (NASDAQ: LTRX), a provider of secure IoT solutions, announced its participation in the 5th Annual Lake Street Capital Markets Big5 Best Ideas Growth Conference. CEO Paul Pickle and CFO Jeremy Whitaker will host virtual one-on-one meetings on September 15, 2021. Investors interested in meetings are encouraged to contact their Lake Street Capital Markets representative. The company also released preliminary estimated results for its fiscal fourth quarter ended June 30, 2021, noting these results may change pending year-end closing procedures.
Lantronix Inc. (NASDAQ: LTRX) is enhancing IoT technology for point-of-care (POC) medical diagnostic devices, responding to the rising demand driven by diseases, including COVID-19. The global POC diagnostics market is projected to grow from $43.49 billion in 2021 to $81.37 billion by 2028, with a CAGR of 9.4%. Lantronix's xPico 250 IoT gateway supports secure connectivity for rapid diagnostic testing, facilitating faster prototypes and reduced development costs for medical device developers. Their solutions aim to improve patient care and operational efficiency in health settings.
Lantronix, a leader in IoT solutions, reported a record fourth-quarter net revenue of $20.6 million, reflecting a 19% increase year-over-year. For the fiscal year, net revenue reached $71.5 million, also up 19% year-over-year. GAAP gross margins improved to 48.8%, a significant increase from 37.7% a year ago. The company reported a GAAP EPS of ($0.04), an improvement from ($0.06) in the previous year, with non-GAAP EPS rising to $0.06. Looking ahead, Lantronix anticipates revenue growth of 45-75% and non-GAAP EPS growth of 85-135% in fiscal 2022.
Lantronix (NASDAQ: LTRX), formerly known as Transition Networks, is set to showcase its innovative Secure Remote Access Series (SRA) at the upcoming BICSI 2021 Fall Conference in Las Vegas from August 22-26, 2021. The SRA technology allows secure deployment and management of network devices, enhancing operational efficiency. This event marks a significant step in Lantronix's strategy to expand its offerings in smart city solutions. The company aims to provide comprehensive smart lighting and security solutions, furthering its commitment to connected infrastructure.