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. 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. (LTRX) announced the successful integration of its Fox3 Series telematics gateway into an intelligent farming solution by German company LACOS. This partnership allows for the remote monitoring and tracking of farm equipment, enhancing efficiency and reducing reliance on paper logbooks. The Fox3 gateway supports secure multi-protocol connectivity, helping LACOS streamline operations and improve data management through cloud solutions. The implementation aims to foster innovation in agriculture, aligning with sustainability and operational efficiency goals.
Lantronix Inc. (NASDAQ: LTRX) announced the successful use of its Open-Q 820 µSOM in developing the Whisper Hearing System, a cutting-edge AI-driven hearing aid that enhances sound processing over time. Whisper's founders aim to address hearing loss with advanced technology that improves speech intelligibility and background noise separation. The collaboration promises reduced development costs and faster time-to-market. This achievement positions Lantronix as a key player in innovative IoT solutions for personal health.
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Lantronix, Inc. (NASDAQ: LTRX) reported second quarter net revenue of $17.1 million, a 4% increase year-over-year and a 3% sequential rise. GAAP gross margins improved to 45.1%, up 290 basis points sequentially, due to a better product mix. GAAP EPS improved to (0.04), up from (0.19) last year, while non-GAAP EPS rose 150% year-over-year to $0.05. A record backlog was established entering Q4, and the company forecasts 15-25% revenue growth and 100-175% non-GAAP EPS growth for fiscal 2021.
Lantronix (NASDAQ: LTRX) has entered into a definitive agreement to acquire Transition Networks and Net2Edge from Communications Systems Inc. for a base price of $25 million, with potential earn-out payments of up to $7 million. This acquisition is expected to enhance Lantronix's annual revenue to over $100 million and will provide complementary IoT products, including switching and media conversion technologies. The company anticipates $7 million in annualized expense synergies within 24 months and expects immediate earnings accretion upon closing.
Lantronix Inc. (NASDAQ: LTRX) announced that its xDirect Server supports Medical Informatics Corp.’s (MIC) Sickbay solution, a FDA-cleared virtual care platform. The xDirect Server enables secure, remote monitoring of non-networked medical devices, allowing for flexible virtual ICUs and data-driven patient care. Sickbay enhances clinical decision-making by transforming bedside data into actionable insights, significantly improving healthcare delivery. Key features include real-time monitoring, scalability for hospitals, and extensive patient data integration, addressing challenges posed by traditional monitoring methods.
On April 19, 2021, Lantronix (NASDAQ: LTRX) announced the release of its fiscal 2021 third quarter financial results, scheduled for April 29, 2021, after market close. An investor conference call will be held on the same day at 2:00 PM PT, accessible via phone and webcast. Lantronix specializes in Software as a Service (SaaS), connectivity services, and IoT solutions, simplifying the deployment and management of IoT projects for various industries. The company's products serve sectors such as energy, agriculture, and security, highlighting its diverse market engagement.
Lantronix (NASDAQ: LTRX) announced its Engineering Services team supported eSight Corp. in developing a cutting-edge device for individuals with visual impairments. eSight was awarded 'Best Wearable/Healthcare Hardware/Software Consumer Technology of 2021' at the Tech Ascension Awards. The collaboration enabled the creation of a device that enhances vision for users, potentially improving visual acuity from 20/60 to 20/20. The project involved integrating high-definition cameras and screens, ensuring affordability, and enhancing user experience through advanced technology.