Lantronix(US:LTRX)2024-04-29 20:30Financial Performance - Net revenue for Q3 FY 2024 reached $41.2 million, representing an 11% increase sequentially and a 25% increase year-over-year[2] - GAAP EPS for Q3 FY 2024 was ($0.01), an improvement from ($0.08) in the prior year and ($0.07) in the prior quarter[3] - Non-GAAP EPS for Q3 FY 2024 was $0.11, compared to $0.06 in the prior year and $0.08 in the prior quarter[4] - Net revenue for Q3 2024 reached $41.183 million, a 11.6% increase from $37.038 million in Q3 2023[21] - Gross profit for Q3 2024 was $16.504 million, compared to $15.031 million in Q3 2023, reflecting a gross margin of 40.0%[21] - The net loss for Q3 2024 was $423 thousand, significantly improved from a net loss of $2.593 million in Q3 2023[21] - Non-GAAP net income for Q3 2024 was $4.230 million, up from $2.962 million in Q3 2023, with a non-GAAP net income per share of $0.11[23] - Non-GAAP gross profit for Q3 2024 was $16.905 million, with a non-GAAP gross margin of 41.0%[23] Future Projections - For Q4 FY 2024, the company expects revenue between $46.5 million and $51.5 million, with non-GAAP EPS projected to be between $0.12 and $0.18 per share[5] Assets and Liabilities - Total current assets as of March 31, 2024, were $97.884 million, slightly up from $96.551 million as of June 30, 2023[20] - Cash and cash equivalents increased to $24.642 million from $13.452 million year-over-year[20] - Total liabilities decreased to $69.307 million from $74.068 million year-over-year[20] - The company reported an accumulated deficit of $223.407 million as of March 31, 2024, compared to $218.505 million as of June 30, 2023[20] - Inventories decreased to $40.552 million from $49.736 million year-over-year[20] Operational Focus - Lantronix continues to focus on high-growth industries, including Smart Cities, Automotive, and Enterprise, enhancing its IoT solutions[8] - Embedded IoT Solutions generated $12.452 million in revenue for Q3 2024, while IoT System Solutions contributed $26.789 million[25] - The Americas region accounted for $17.543 million of total revenue in Q3 2024, while EMEA contributed $18.354 million[25] Expenses - Operating expenses totaled $16.599 million in Q3 2024, slightly down from $16.789 million in Q3 2023[21] - Research and development expenses were $5.186 million in Q3 2024, compared to $4.725 million in Q3 2023, indicating a focus on innovation[21] - The company reported a total of 37,509 weighted-average common shares for basic and diluted net loss per share calculations[21]