Lantronix, Inc. (LTRX) has unveiled a case study featuring GWACS Defense Inc., a military defense contractor based in Tulsa, OK. GWACS Defense utilized Lantronix’s Open-Q 8250CS System on Module (SOM), powered by the Qualcomm QCS8250 System-on-Chip (SoC) and Lantronix’s Engineering Services to develop its military-grade gunshot and noise detection system for commercial purposes. The newly developed Acoustic Event of Interest (AEI) platform provides real-time detection of critical sounds, such as gunshots, i ...

IRVINE, Calif., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ:LTRX), a global leader of compute and connectivity IoT solutions, today announced that its CEO Saleel Awsare has received the "IoT Company CEO of the Year" award in the 9th annual IoT Breakthrough Awards program conducted by IoT Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies and products in the global Internet-of-Things (IoT) market today. "Lantronix CEO Saleel Awsare deserves ‘ ...

Prestigious Annual IoT Breakthrough Awards Program Recognizes Standout Internet-of-Things Companies, Products and PeopleIRVINE, Calif., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global leader of compute and connectivity IoT solutions, today announced that its CEO Saleel Awsare has received the “IoT Company CEO of the Year” award in the 9th annual IoT Breakthrough Awards program conducted by IoT Breakthrough, a leading market intelligence organization that recognizes the top companie ...

Case Study: Lantronix’s Open-Q SOM, powered by Qualcomm SoC, utilized to integrate advanced acoustic technology into an innovative public safety solutionIRVINE, Calif., Jan. 07, 2025 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global leader in IoT compute and connectivity IoT solutions, today announced its new case study featuring GWACS Defense Inc., a Tulsa, Okla.-based military defense contractor. Delivering intelligence at the Edge, GWACS utilized Lantronix’s Open-Q™ 8250CS System on Module (SOM ...

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Core Insights - Lantronix, Inc. has completed the acquisition of NetComm Wireless Pty Ltd for $6.5 million, which includes all enterprise IoT business assets and certain liabilities [2] - The acquisition aligns with Lantronix's strategic focus on the Enterprise and Smart City sectors, enhancing its 5G capabilities and expanding its IoT offerings [7] - Lantronix expects the NetComm portfolio to contribute $6-$7 million in revenues during 2024, solidifying its position in the IoT market [8] Company Developments - Lantronix has launched SmartLV, an AI-powered IoT Edge Compute Cellular Gateway, aimed at low-voltage substations and distribution automation [3] - The company has also introduced five new System-in-Package (SiP) solutions, designed to enhance industrial and enterprise IoT applications [4] - Management emphasized that the acquisition will accelerate Lantronix's leadership in enterprise and industrial IoT solutions, providing customers with an expanded portfolio of gateways, routers, and modems [12] Market Performance - Lantronix currently holds a Zacks Rank of 5 (Strong Sell), with shares declining by 29.6% over the past year, contrasting with the industry's growth of 18% [5] - In comparison, other technology stocks like Intrusion Inc., Extreme Networks, and RADCOM Ltd. have better rankings and performance metrics [6]

Accelerates Lantronix’s Enterprise IoT LeadershipExpands Its IoT Wireless Connect Portfolio With Cutting-Edge 5G TechnologyStrengthens Its Competitive Offering, Adds New Blue-Chip Customers IRVINE, Calif., Dec. 26, 2024 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global leader in IoT compute and connectivity IoT solutions, today announced that it has finalized its acquisition of NetComm Wireless Pty Ltd (“NetComm”), a subsidiary of DZS Inc., for all of its enterprise Internet of Things (IoT) busine ...

Accelerates Lantronix's Enterprise IoT LeadershipExpands Its IoT Wireless Connect Portfolio With Cutting-Edge 5G TechnologyStrengthens Its Competitive Offering, Adds New Blue-Chip Customers IRVINE, Calif., Dec. 26, 2024 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ:LTRX), a global leader in IoT compute and connectivity IoT solutions, today announced that it has finalized its acquisition of NetComm Wireless Pty Ltd ("NetComm"), a subsidiary of DZS Inc., for all of its enterprise Internet of Things (IoT) busines ...

IRVINE, Calif., Dec. 19, 2024 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ:LTRX), a global leader in IoT compute and connectivity IoT solutions, today announced that Saleel Awsare, CEO and Brent Stringham, Interim CFO, will deliver in-person presentations on Tuesday, Jan. 14, and Wednesday, Jan. 15, 2025, at the 27th Annual Needham Growth Conference at the Lotte New York Palace Hotel in New York City. The live audio webcast and replay of the presentations will be available approximately two hours following th ...

Financial Data and Key Metrics Changes - The company reported revenue of $34.4 million for Q1 2025, up 4% year-over-year, but at the lower end of guidance due to a sequential decline from record revenues in the previous quarter [5][22] - Non-GAAP EPS for Q1 2025 was $0.06, compared to $0.07 in the same quarter last year [5][28] - GAAP gross margin was 42.1%, an improvement from 38.1% in the prior quarter but slightly down from 42.7% year-over-year [25] - GAAP net loss was $2.5 million or $0.07 per share, compared to a loss of $1.9 million or $0.05 per share in the year-ago quarter [27] Business Line Data and Key Metrics Changes - Embedded IoT Solutions revenue increased by 18% sequentially and year-over-year, driven by growth from a large enterprise video conferencing customer [23] - IoT System Solutions revenue decreased by 47% sequentially and 1% year-over-year, primarily due to a reduction in shipments to a large smart grid customer and a federal government agency order that did not materialize as expected [24] - Software and services revenue was up 8% sequentially but down 13% year-over-year as products moved into production [24] Market Data and Key Metrics Changes - The acquisition of NetComm's IoT product line is expected to generate approximately $6 million to $7 million in revenue in calendar year 2024, with a projected growth of 20% into calendar year 2025 [8][42] - The company is focusing on expanding its presence in underserved geographic markets such as Australia and New Zealand through the NetComm acquisition [8] Company Strategy and Development Direction - The company is strategically focused on investing in areas where it can differentiate and demonstrate IoT leadership while emphasizing operational efficiency and cost savings [6] - Initiatives are underway to streamline the product portfolio and consolidate operations from 7 sites to 4 centers of excellence, aiming to reduce operating expenses by approximately $4.5 million in fiscal year 2025 [16][18] - The company is positioning itself to lead in the Edge AI ecosystem through collaborations with Qualcomm, focusing on scalable AI solutions and expanding offerings in the Smart City vertical [10][15] Management's Comments on Operating Environment and Future Outlook - Management noted a slowdown in consumer spending and enterprise vertical markets, particularly affecting the largest automotive customer in Turkey [32] - The company expects improvements sequentially as the fiscal year progresses, with a revenue outlook for Q2 2025 in the range of $29 million to $33 million [30] - Management remains optimistic about long-term growth opportunities in the smart grid and Edge AI sectors, with ongoing deployments and product readiness [34][46] Other Important Information - The acquisition of NetComm is expected to be immediately accretive to EPS and is anticipated to close in November 2024 [9][19] - The company is not planning future investments in non-core products such as WiFi and GNSS modules, focusing instead on core growth areas [16] Q&A Session Summary Question: What type of growth or recovery can be expected in the second half of the fiscal year? - Management indicated a slowdown in the automotive sector but expects sequential improvements as the fiscal year progresses [32] Question: Any updates on smart grid opportunities? - Management confirmed ongoing deployments in Europe and new opportunities in North America and Latin America [34] Question: Are there any monetary connections to the development agreements with Qualcomm? - Management did not disclose specific dollar amounts but confirmed collaborative efforts to enhance Qualcomm's AI hub [36] Question: What are the synergies expected from the NetComm acquisition? - The acquisition adds 5G IoT gateways and routers, enhancing the product portfolio and providing cross-selling opportunities with existing enterprise customers [40] Question: Will existing channels be used for the NetComm products? - Management confirmed that NetComm brings its own channel relationships, which will be integrated with existing channels [43] Question: What applications are being targeted in the Edge AI development? - Management highlighted enterprise video conferencing, smart grid applications, and industrial automation as key areas of focus [46]