Lantronix Announces Impressive Q4 Financial Performance
Lantronix Reports Strong Financial Results for Q4 2024
Lantronix Inc. (NASDAQ: LTRX), known for its innovative IoT solutions, recently revealed its financial performance for the fourth quarter of fiscal 2024, demonstrating substantial growth in both revenue and earning capacity.
Quarterly Highlights
In the fourth quarter, Lantronix achieved net revenue of $49.1 million, marking a remarkable increase of 19% sequentially and a significant 41% year-over-year growth.
Earnings Performance
The company's GAAP earnings per share (EPS) improved to $0.01 compared to a loss of ($0.05) in the same quarter last year, reflecting a positive trend in profitability. Moreover, its non-GAAP EPS surged to $0.15, a 150% increase from $0.06 in the previous year.
Annual Revenue Performance
Across the fiscal year, Lantronix recorded total net revenue of $160.3 million, up 22% from the previous year. This growth was coupled with a notable rise in non-GAAP EPS to $0.40 from $0.23.
Cash Position
The company maintains a robust cash balance of $26.2 million, signifying a 95% surge year-over-year, which enhances its liquidity and operational flexibility.
Future Outlook
Looking ahead, for the first fiscal quarter of 2025, Lantronix projected a revenue range of $34 million to $38 million, paired with a non-GAAP EPS anticipated between $0.07 to $0.11 per share. This forward guidance suggests continuity in its growth trajectory.
Company Overview
Lantronix Inc. stands out as a leader in compute and connectivity IoT solutions, serving fast-evolving sectors such as Smart Cities, Automotive, and Enterprises. With its broad spectrum of products aimed at these high-growth markets, the company is well-positioned to capitalize on the booming IoT industry.
Innovative Solutions
The company’s offerings include Intelligent Substation infrastructure, Infotainment systems, and Video Surveillance technologies, as well as sophisticated Out-of-Band Management (OOB) solutions for Cloud and Edge Computing.
Investor Conference and Contact
Management plans to hold an investor conference call accompanied by an audio webcast to delve deeper into the company’s fourth-quarter results. Questions can be directed to the company's Investor Relations through Jeremy Whitaker, the Chief Financial Officer, at investors@lantronix.com.
Frequently Asked Questions
What were the net revenues for Lantronix in Q4 2024?
Lantronix reported net revenues of $49.1 million for the fourth quarter of 2024.
How did the earnings per share change year-over-year?
The GAAP EPS improved from a loss of $0.05 to a gain of $0.01 from the previous year.
What is Lantronix's outlook for Q1 of 2025?
Lantronix anticipates revenues between $34 million to $38 million and a non-GAAP EPS between $0.07 and $0.11 in Q1 of 2025.
What are the main markets Lantronix serves?
Lantronix focuses on high-growth markets such as Smart Cities, Automotive, and Enterprise sectors.
Who can investors contact for more information?
Investors can contact Jeremy Whitaker, the Chief Financial Officer of Lantronix, at investors@lantronix.com.
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