Lantronix (LTRX)
Market Price (5/30/2026): $7.48 | Market Cap: $297.2 MilSector: Information Technology | Industry: Technology Hardware, Storage & Peripherals
Lantronix (LTRX)
Market Price (5/30/2026): $7.48Market Cap: $297.2 MilSector: Information TechnologyIndustry: Technology Hardware, Storage & Peripherals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Artificial Intelligence, Automation & Robotics, and 5G & Advanced Connectivity. Themes include Edge AI, Show more. | Weak multi-year price returns3Y Excs Rtn is -18% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -5.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -4.6% Stock price has recently run up significantly12M Rtn12 month market price return is 243% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -17%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.9% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.4% Key risksLTRX key risks include [1] significant customer concentration, Show more. |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, Automation & Robotics, and 5G & Advanced Connectivity. Themes include Edge AI, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -18% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -5.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -4.6% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 243% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -17%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.9% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.4% |
| Key risksLTRX key risks include [1] significant customer concentration, Show more. |
Qualitative Assessment
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Updated on 5/28/2026
Lantronix (LTRX) stock has gained about 15% since 1/31/2026 because of the following key factors:
1. Sustained Financial Performance and Upgraded Outlook in Key Segments.
Lantronix demonstrated solid financial execution, reporting non-GAAP earnings per share (EPS) of $0.04 for both fiscal Q2 2026 (reported February 4, 2026) and fiscal Q3 2026 (reported May 6, 2026). The Q2 non-GAAP EPS exceeded analyst estimates of $0.03, and the Q3 non-GAAP EPS surpassed analyst estimates by 10.0%, with net revenue growing 5.9% year-over-year to $30.2 million. Furthermore, the company twice increased its fiscal year 2026 drone revenue expectation, initially to a range of $8 million-$12 million in February and then further to $10 million-$14 million in May, reflecting strong momentum and growth in this high-margin sector.
2. Strategic Advancements in Edge AI and Industrial IoT Solutions.
Lantronix strengthened its market position by expanding its portfolio of Edge AI and Industrial IoT solutions. This included the launch of the xPico 600, a Wi-Fi 6 embedded module for Industrial IoT, announced on May 12, 2026. The company also forged new collaborations, such as the partnership with Safe Pro on May 20, 2026, aimed at advancing AI-driven edge intelligence for defense and commercial autonomous systems, which highlights its commitment to critical, high-growth sectors.
Show more
Lantronix (LTRX) stock has gained about 15% since 1/31/2026 because of the following key factors:
1. Sustained Financial Performance and Upgraded Outlook in Key Segments.
Lantronix demonstrated solid financial execution, reporting non-GAAP earnings per share (EPS) of $0.04 for both fiscal Q2 2026 (reported February 4, 2026) and fiscal Q3 2026 (reported May 6, 2026). The Q2 non-GAAP EPS exceeded analyst estimates of $0.03, and the Q3 non-GAAP EPS surpassed analyst estimates by 10.0%, with net revenue growing 5.9% year-over-year to $30.2 million. Furthermore, the company twice increased its fiscal year 2026 drone revenue expectation, initially to a range of $8 million-$12 million in February and then further to $10 million-$14 million in May, reflecting strong momentum and growth in this high-margin sector.
2. Strategic Advancements in Edge AI and Industrial IoT Solutions.
Lantronix strengthened its market position by expanding its portfolio of Edge AI and Industrial IoT solutions. This included the launch of the xPico 600, a Wi-Fi 6 embedded module for Industrial IoT, announced on May 12, 2026. The company also forged new collaborations, such as the partnership with Safe Pro on May 20, 2026, aimed at advancing AI-driven edge intelligence for defense and commercial autonomous systems, which highlights its commitment to critical, high-growth sectors.
Show more
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Stock Movement Drivers
Fundamental Drivers
The 13.7% change in LTRX stock from 1/31/2026 to 5/29/2026 was primarily driven by a 15.0% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.64 | 7.55 | 13.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 118 | 119 | 0.2% |
| P/S Multiple | 2.2 | 2.5 | 15.0% |
| Shares Outstanding (Mil) | 39 | 40 | -1.4% |
| Cumulative Contribution | 13.7% |
Market Drivers
1/31/2026 to 5/29/2026| Return | Correlation | |
|---|---|---|
| LTRX | 13.7% | |
| Market (SPY) | 9.6% | 47.4% |
| Sector (XLK) | 32.9% | 50.2% |
Fundamental Drivers
The 53.1% change in LTRX stock from 10/31/2025 to 5/29/2026 was primarily driven by a 61.8% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.93 | 7.55 | 53.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 123 | 119 | -3.5% |
| P/S Multiple | 1.6 | 2.5 | 61.8% |
| Shares Outstanding (Mil) | 39 | 40 | -1.9% |
| Cumulative Contribution | 53.1% |
Market Drivers
10/31/2025 to 5/29/2026| Return | Correlation | |
|---|---|---|
| LTRX | 53.1% | |
| Market (SPY) | 11.5% | 44.9% |
| Sector (XLK) | 27.4% | 46.4% |
Fundamental Drivers
The 254.5% change in LTRX stock from 4/30/2025 to 5/29/2026 was primarily driven by a 379.1% change in the company's P/S Multiple.| (LTM values as of) | 4302025 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.13 | 7.55 | 254.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 156 | 119 | -23.9% |
| P/S Multiple | 0.5 | 2.5 | 379.1% |
| Shares Outstanding (Mil) | 39 | 40 | -2.8% |
| Cumulative Contribution | 254.5% |
Market Drivers
4/30/2025 to 5/29/2026| Return | Correlation | |
|---|---|---|
| LTRX | 254.5% | |
| Market (SPY) | 38.0% | 35.5% |
| Sector (XLK) | 83.0% | 40.0% |
Fundamental Drivers
The 105.2% change in LTRX stock from 4/30/2023 to 5/29/2026 was primarily driven by a 148.8% change in the company's P/S Multiple.| (LTM values as of) | 4302023 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.68 | 7.55 | 105.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 132 | 119 | -9.9% |
| P/S Multiple | 1.0 | 2.5 | 148.8% |
| Shares Outstanding (Mil) | 36 | 40 | -8.5% |
| Cumulative Contribution | 105.2% |
Market Drivers
4/30/2023 to 5/29/2026| Return | Correlation | |
|---|---|---|
| LTRX | 105.2% | |
| Market (SPY) | 89.0% | 28.8% |
| Sector (XLK) | 158.6% | 30.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LTRX Return | 76% | -45% | 36% | -30% | 42% | 44% | 90% |
| Peers Return | 39% | -5% | -5% | 59% | 23% | 58% | 284% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| LTRX Win Rate | 67% | 33% | 67% | 50% | 58% | 60% | |
| Peers Win Rate | 65% | 45% | 57% | 57% | 63% | 64% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| LTRX Max Drawdown | -33% | -55% | -37% | -63% | -56% | -30% | |
| Peers Max Drawdown | -23% | -38% | -36% | -24% | -40% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: DGII, SMTC, BDC, CSCO, HPE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/29/2026 (YTD)
How Low Can It Go
| Event | LTRX | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -35.5% | -18.8% |
| % Gain to Breakeven | 55.1% | 23.1% |
| Time to Breakeven | 90 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -10.7% | -7.8% |
| % Gain to Breakeven | 11.9% | 8.5% |
| Time to Breakeven | 26 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -17.6% | -9.5% |
| % Gain to Breakeven | 21.3% | 10.5% |
| Time to Breakeven | 14 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -36.6% | -6.7% |
| % Gain to Breakeven | 57.6% | 7.1% |
| Time to Breakeven | 218 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -54.0% | -33.7% |
| % Gain to Breakeven | 117.4% | 50.9% |
| Time to Breakeven | 62 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -34.8% | -19.2% |
| % Gain to Breakeven | 53.5% | 23.8% |
| Time to Breakeven | 119 days | 105 days |
In The Past
Lantronix's stock fell -35.5% during the 2025 US Tariff Shock. Such a loss loss requires a 55.1% gain to breakeven.
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| Event | LTRX | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -35.5% | -18.8% |
| % Gain to Breakeven | 55.1% | 23.1% |
| Time to Breakeven | 90 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -36.6% | -6.7% |
| % Gain to Breakeven | 57.6% | 7.1% |
| Time to Breakeven | 218 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -54.0% | -33.7% |
| % Gain to Breakeven | 117.4% | 50.9% |
| Time to Breakeven | 62 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -34.8% | -19.2% |
| % Gain to Breakeven | 53.5% | 23.8% |
| Time to Breakeven | 119 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -36.6% | -12.2% |
| % Gain to Breakeven | 57.8% | 13.9% |
| Time to Breakeven | 74 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -49.7% | -6.8% |
| % Gain to Breakeven | 98.9% | 7.3% |
| Time to Breakeven | 351 days | 15 days |
| 2013 Taper Tantrum | ||
| % Loss | -39.9% | -0.2% |
| % Gain to Breakeven | 66.3% | 0.2% |
| Time to Breakeven | 75 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -43.3% | -17.9% |
| % Gain to Breakeven | 76.3% | 21.8% |
| Time to Breakeven | 47 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -60.0% | -53.4% |
| % Gain to Breakeven | 150.1% | 114.4% |
| Time to Breakeven | 3590 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -27.3% | -8.6% |
| % Gain to Breakeven | 37.6% | 9.5% |
| Time to Breakeven | 5159 days | 47 days |
In The Past
Lantronix's stock fell -35.5% during the 2025 US Tariff Shock. Such a loss loss requires a 55.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Lantronix (LTRX)
Lantronix, Inc. provides software as a service (SaaS), engineering services, and hardware for edge computing, the Internet of Things (IoT), and remote environment management (REM) in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT Connectivity, which provide wired and wireless connections that enhance the value and utility of modern electronic systems and equipment through secure network connectivity, power for IoT end devices through Power over Ethernet, application hosting, protocol conversion, media conversion, secure access for distributed IoT deployments, and various other functions; IoT Compute, such as application processing delivering compute to meet customer needs for data transformation, computer vision, machine learning, augmented/virtual reality, audio/video aggregation and distribution, and custom applications; and IoT Telematics, which provides power efficient products designed to support communications across interfaces and industrial protocols for vehicle, fleet, and asset tracking and management. It also offers network switches, media converters, power over ethernet, NICS and optical SFPs, system on modules, single board computers, and development kits; and services for mechanical, hardware, and software engineering for camera, audio, and artificial intelligence/machine learning development, as well as xPrintServer. In addition, the company's REM products include out-of-band management, console management, power management, and IP connected keyboard-video-mouse products that offers remote access to IT and networking infrastructure deployed in test labs, data centers, branch offices, remote sites, and server rooms. Further, its SaaS platform enables customers to deploy, monitor, manage, and automate across their global deployments through a single platform login. Lantronix, Inc. was founded in 1989 and is headquartered in Irvine, California.
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Here are 1-3 brief analogies to describe Lantronix:
- Like a Cisco for industrial IoT and remote IT.
- Similar to an NVIDIA for industrial edge AI and computing.
- The 'Intel Inside' for the Internet of Things and remote IT.
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```html- IoT Connectivity Solutions: Hardware providing secure wired and wireless network connections, Power over Ethernet, and various conversion/hosting functions for electronic systems.
- IoT Compute Solutions: Application processing hardware and software for data transformation, computer vision, machine learning, and augmented/virtual reality needs.
- IoT Telematics Products: Power-efficient devices designed for vehicle, fleet, and asset tracking and management across various industrial protocols.
- Remote Environment Management (REM) Products: Hardware and software enabling remote access and control of IT and networking infrastructure, including out-of-band and console management.
- SaaS Platform: A cloud-based software service that allows customers to deploy, monitor, manage, and automate their global IoT and edge computing deployments.
- Engineering Services: Provides specialized mechanical, hardware, and software development, particularly for camera, audio, and artificial intelligence/machine learning technologies.
- Embedded and Networking Hardware: Offers a range of components such as network switches, media converters, system on modules, single board computers, and development kits.
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Lantronix (LTRX) primarily sells its products and services to other companies (business-to-business or B2B). Its offerings, including SaaS, engineering services, and hardware for edge computing, IoT, and remote environment management, are designed for enterprise-level applications such as enhancing electronic systems, managing IT and networking infrastructure, vehicle and fleet tracking, and data processing for various industries.
However, the provided company description does not list the names of its specific major customer companies.
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null
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Saleel Awsare, Chief Executive OfficerAwsare joined Lantronix as President and CEO in November 2023. He previously served as Senior Vice President and General Manager of the Enterprise and Mobile Division at Synaptics Inc., where he was integral in the company's pivot to IoT and enterprise markets, which contributed to a multi-fold increase in market valuation. Prior to Synaptics, Awsare was President of Conexant Systems, LLC, where he successfully positioned the company as a market leader in audio and voice technologies, leading to its acquisition by Synaptics in 2017. He also served as President of Nuvoton Technology Corporation America from 2008 to 2012.
Brent Stringham, Chief Financial Officer
Stringham was appointed CFO in January 2025, having served as interim CFO and Chief Accounting Officer previously. He has been with Lantronix since 2012. Before joining Lantronix, Stringham held financial leadership positions at Iteris Inc., Netlist Inc., and Ernst & Young. He is a licensed Certified Public Accountant and holds a bachelor's degree in Business Administration and Accounting from California State University in Fullerton.
Mathi Gurusamy, Chief Product & Strategy Officer
Gurusamy is responsible for Lantronix's product roadmap and long-term strategic planning.
Kurt Hoff, Chief Revenue Officer
Hoff oversees all revenue-generating activities and sales strategy for Lantronix.
Dennis Gallagher, Vice President/General Counsel and Corporate Secretary
Gallagher brings over 20 years of legal expertise within technology companies. His experience includes a role at Haynes & Boone LLP and serving as General Counsel at Conexant Systems Inc., a semiconductor company, where he managed all legal functions including M&A, intellectual property management, litigation, SEC compliance, and corporate governance.
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1. Rapid Technological Change and Product Obsolescence
Lantronix operates in highly dynamic and evolving markets, including the Internet of Things (IoT), edge computing, and artificial intelligence/machine learning (AI/ML). The rapid pace of technological advancements in these sectors presents a significant risk that its current hardware, software-as-a-service (SaaS) platforms, and engineering services could become obsolete or less competitive if the company does not continuously innovate and quickly adapt to emerging standards, protocols, and customer demands. This risk is particularly relevant for its IoT Compute and IoT Connectivity offerings, which rely on cutting-edge technology.
2. Intense Market Competition
Lantronix faces substantial competition across all its business segments, including IoT hardware and software solutions, remote environment management (REM) products, and its SaaS platform. The presence of numerous established players and agile startups in these markets can lead to intense pricing pressures, potentially eroding profit margins, hindering market share expansion, and necessitating continuous, significant investments in research and development to maintain a competitive advantage and differentiate its offerings.
3. Supply Chain Disruptions and Component Shortages
As a key provider of various hardware components, such as network switches, media converters, system on modules (SOMs), single board computers (SBCs), and integrated IoT solutions, Lantronix is heavily reliant on a complex global supply chain for electronic components, raw materials, and manufacturing services. Disruptions stemming from geopolitical events, natural disasters, trade restrictions, or widespread increases in demand for specific components could lead to significant shortages, increased procurement costs, production delays, and an inability to meet customer orders. Such disruptions could negatively impact the company's revenue, profitability, and customer relationships.
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Lantronix, Inc. (LTRX) operates in several significant addressable markets related to edge computing, the Internet of Things (IoT), and remote environment management (REM).
Internet of Things (IoT)
- The global Internet of Things (IoT) market size was valued at approximately USD 1.18 trillion in 2023 and is projected to reach USD 2.65 trillion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 11.4% from 2024 to 2030. Another report estimates the global IoT market size at USD 1.35 trillion in 2025, expected to reach USD 2.72 trillion by 2030, at a CAGR of 15.04% during the forecast period.
- Specifically for IoT Connectivity, the global market was valued at USD 663.38 billion in 2024 and is projected to reach USD 2295.57 billion by 2032, exhibiting a CAGR of 19.10%. North America held the largest share of this market in 2024, at 39.5%.
- The global IoT devices market size was estimated at USD 70.3 billion in 2024 and is projected to reach USD 181.17 billion by 2030, growing at a CAGR of 16.8% from 2025 to 2030. North America dominated the IoT devices market with over 34% share in 2024.
- The Industrial Internet of Things (IIoT) market, a key segment for Lantronix's IoT Compute and Connectivity offerings, was estimated at USD 483.16 billion in 2024 and is projected to reach USD 1,693.44 billion by 2030, growing at a CAGR of 23.3% from 2025 to 2030. Another source indicates the global industrial IoT market size is valued at USD 514.39 billion in 2025 and is anticipated to reach around USD 2430.21 billion by 2035, expanding at a CAGR of 16.8% from 2026 to 2035. North America accounted for over 31% of the IIoT market share in 2024.
- The global Internet of Things fleet management market (IoT Telematics) was estimated at USD 7.03 billion in 2023 and is projected to reach USD 20.61 billion by 2030, growing at a CAGR of 17.0% from 2024 to 2030. North America was the largest revenue-generating market in 2023. Another report projects the global automotive telematics market at approximately USD 49.6 billion in 2025, rising to nearly USD 80 billion by 2034. The broader telematics systems market was valued at USD 52.8 billion in 2025 and is expected to grow to USD 154.3 billion in 2035, at a CAGR of 11.5%.
Remote Environment Management (REM)
- The global remote monitoring and control market size was estimated at USD 23.87 billion in 2024 and is projected to reach USD 32.83 billion by 2030, growing at a CAGR of 5.6% from 2025 to 2030. Another estimate places the global remote monitoring and control system market size at USD 3.55 billion in 2024, predicted to increase to approximately USD 7.69 billion by 2034, expanding at a CAGR of 8.04% from 2025 to 2034. North America led this market in 2024 with over 38% market share.
- The global Remote Monitoring and Management (RMM) market size reached USD 6.42 billion in 2024, with a projected CAGR of 12.7% to attain a value of USD 18.97 billion by 2033. North America dominates the global RMM market, accounting for USD 2.56 billion in 2024.
- The global Out-of-Band (OOB) Authentication market was valued at USD 1.6 billion in 2024 and is projected to reach USD 3.7 billion by 2030, growing at a CAGR of 15.4% from 2024 to 2030. Another source projects this market to grow from USD 1.7 billion in 2025 to USD 6.0 billion by 2035, at a CAGR of 13.2%. North America is the largest market for Out-of-Band Authentication solutions, holding approximately 45% of the global share.
Software as a Service (SaaS) Platform
- The global IoT platform market size was estimated at USD 11.10 billion in 2023 and is projected to reach USD 27.15 billion by 2030, growing at a CAGR of 12.7% from 2024 to 2030. North America accounted for the largest revenue share of 36% in this market in 2023. Another report indicates the global IoT (internet of things) platforms market size accounted for USD 16.11 billion in 2025 and is predicted to increase to approximately USD 49.17 billion by 2034, expanding at a CAGR of 13.20% from 2025 to 2034.
- The global IoT cloud platform market size was valued at USD 22.04 billion in 2025 and is projected to reach USD 132.98 billion by 2034, exhibiting a CAGR of 21.90%. North America dominated this market with a share of 35.81% in 2025.
Engineering Services (AI/ML Development)
- The global artificial intelligence (AI) engineering services market was valued at USD 11.3 billion in 2024 and is projected to reach USD 83.4 billion by 2033, expanding at a robust CAGR of 23.9% from 2025 to 2033. North America is the largest market for Artificial Intelligence Engineering, holding approximately 45% of the global share. Europe demonstrates accelerating growth at a 28% CAGR.
- The global Machine Learning (ML) market size was valued at USD 47.99 billion in 2025 and is expected to grow to USD 432.63 billion by 2034, exhibiting a CAGR of 26.7%. North America dominated the ML market with a 32.5% share in 2025.
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Lantronix (LTRX) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Accelerated Growth in the Unmanned Aerial Systems (UAS) / Drone Market: Lantronix is experiencing significant momentum in its drone business, marked by an increasing number of OEM engagements and design wins. The company has raised its fiscal 2026 drone revenue outlook, supported by strong defense funding and favorable regulatory environments, positioning drones to become a material contributor to its business.
- Expansion of Edge AI Solutions: A strategic focus on Edge AI is a core growth driver for Lantronix. The company is investing in and launching new Edge AI solutions, such as Kompress.ai and EdgeFabric.ai, and forming partnerships with technology leaders like MediaTek and Qualcomm. This expansion is broadening its total addressable market across high-volume industrial and commercial IoT, including applications in robotics, smart cameras, and intelligent security systems.
- Strategic Wins and Partnerships in Network Infrastructure: Lantronix has secured significant multi-year contracts, including an agreement with a Tier-1 U.S. wireless operator to modernize nationwide backup power systems and wireless cell sites using Lantronix Edge gateways and the Percepxion platform. These wins validate its edge infrastructure strategy and contribute to high-margin recurring revenue, while also demonstrating continued strength in its core network infrastructure products.
- Increased Software-Enabled Recurring Revenue and Platform-Led Approach: The company is actively shifting towards a platform-led strategy that emphasizes increasing software-enabled recurring revenue. This approach, exemplified by its Percepxion platform and new AI platforms like Kompress.ai and EdgeFabric.ai, is designed to enhance margins, improve operating leverage, and build a more resilient business model by providing integrated, AI-enabled edge platforms.
- Diversification into High-Value Markets and Segments: Lantronix is undergoing a strategic transformation, moving away from lower-margin, higher-volume business (such as the Gridspertise contract) to focus on higher-value, high-margin opportunities. This pivot targets high-growth verticals including defense, industrial automation, and smart infrastructure, thereby strengthening its core revenue base and positioning the company for sustainable long-term growth.
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Share Repurchases
- Lantronix did not repurchase any shares of its common stock during fiscal year 2025.
- The company's buyback yield was -3.04% in the last 12 months, indicating more share issuance than repurchases.
Share Issuance
- In November 2021, Lantronix priced an underwritten public offering of 4,700,000 shares of common stock at $7.50 per share, resulting in estimated gross proceeds of approximately $35.3 million. The net proceeds were intended for working capital and general corporate purposes, including the repayment of existing indebtedness.
- The company's outstanding shares increased by 3.04% in the last 12 months.
- In May 2025, shares were issued through the Employee Stock Purchase Plan (ESPP), which has since been suspended.
Inbound Investments
- No significant inbound equity investments by third parties such as strategic partners or private equity firms were identified within the last 3-5 years.
- Lantronix has formed strategic partnerships, such as with Safe Pro Group Inc. to develop AI-powered edge compute solutions, and with Qualcomm, which are collaborations rather than direct equity investments into Lantronix. [cite: 4, 13 (from previous search)]
Outbound Investments
- In December 2024, Lantronix acquired NetComm Wireless Pty Ltd for $6.5 million. [cite: 9 (from previous search)]
- Lantronix acquired Uplogix, Inc. in September 2022 for an undisclosed amount. [cite: 9 (from previous search)]
- In August 2021, Lantronix completed the acquisition of Transition Networks and Net2Edge, which comprised the majority of the Electronics and Software reportable business segment of Communications Systems, Inc., for an undisclosed amount. [cite: 10 (from previous search)] This acquisition was projected to bring in over $100 million in annual revenues for the combined company. [cite: 10 (from previous search)]
Capital Expenditures
- Lantronix's capital expenditures were $505,000 for fiscal year 2025.
- In the second quarter of fiscal year 2026 (ended December 31, 2025), Lantronix invested $166,000 in capital expenditures for long-term assets and infrastructure.
- For the last 12 months, capital expenditures were reported as -$430,000.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Lantronix Earnings Notes | 12/16/2025 | |
| With Lantronix Stock Sliding, Have You Assessed The Risk? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to LTRX.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | PLTR | Palantir Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 04102026 | ADSK | Autodesk | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 8.5% | 8.5% | 0.0% |
| 04102026 | BSY | Bentley Systems | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.2% | 4.2% | 0.0% |
| 04102026 | ENPH | Enphase Energy | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 5.7% | 5.7% | 0.0% |
| 04102026 | BL | BlackLine | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 3.2% | 3.2% | -3.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 85.94 |
| Mkt Cap | 9.1 |
| Rev LTM | 1,938 |
| Op Inc LTM | 217 |
| FCF LTM | 171 |
| FCF 3Y Avg | 153 |
| CFO LTM | 259 |
| CFO 3Y Avg | 223 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.4% |
| Rev Chg 3Y Avg | 3.6% |
| Rev Chg Q | 13.9% |
| QoQ Delta Rev Chg LTM | 3.3% |
| Op Inc Chg LTM | 13.1% |
| Op Inc Chg 3Y Avg | -2.7% |
| Op Mgn LTM | 10.9% |
| Op Mgn 3Y Avg | 9.2% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 15.0% |
| CFO/Rev 3Y Avg | 14.1% |
| FCF/Rev LTM | 11.0% |
| FCF/Rev 3Y Avg | 8.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 9.1 |
| P/S | 3.9 |
| P/Op Inc | 33.2 |
| P/EBIT | 21.7 |
| P/E | -14.3 |
| P/CFO | 26.4 |
| Total Yield | 1.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 6.3% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 28.3% |
| 3M Rtn | 44.6% |
| 6M Rtn | 58.9% |
| 12M Rtn | 126.5% |
| 3Y Rtn | 122.9% |
| 1M Excs Rtn | 22.1% |
| 3M Excs Rtn | 34.4% |
| 6M Excs Rtn | 47.5% |
| 12M Excs Rtn | 97.5% |
| 3Y Excs Rtn | 47.4% |
Price Behavior
Price Behavior
| Market Price | $7.55 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 08/04/2000 | |
| Distance from 52W High | -10.7% | |
| 50 Days | 200 Days | |
| DMA Price | $6.22 | $5.55 |
| DMA Trend | up | up |
| Distance from DMA | 21.4% | 36.0% |
| 3M | 1YR | |
| Volatility | 80.1% | 77.0% |
| Downside Capture | 361.20 | 208.31 |
| Upside Capture | 317.68 | 292.98 |
| Correlation (SPY) | 48.5% | 37.6% |
LTRX Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.67 | 2.15 | 2.47 | 2.29 | 2.06 | 1.32 |
| Up Beta | 0.48 | 0.45 | 0.79 | 0.74 | 0.44 | 0.88 |
| Down Beta | 5.10 | 4.66 | 3.44 | 3.40 | 3.96 | 1.86 |
| Up Capture | 187% | 265% | 322% | 422% | 571% | 244% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 15 | 25 | 36 | 70 | 127 | 365 |
| Down Capture | -258% | 213% | 267% | 188% | 144% | 107% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 6 | 17 | 27 | 51 | 117 | 364 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LTRX | |
|---|---|---|---|---|
| LTRX | 222.4% | 76.7% | 1.85 | - |
| Sector ETF (XLK) | 66.5% | 20.7% | 2.36 | 41.3% |
| Equity (SPY) | 30.3% | 11.8% | 1.94 | 37.6% |
| Gold (GLD) | 37.5% | 26.7% | 1.17 | 10.5% |
| Commodities (DBC) | 39.6% | 18.8% | 1.63 | -0.4% |
| Real Estate (VNQ) | 12.5% | 13.1% | 0.64 | 5.7% |
| Bitcoin (BTCUSD) | -31.8% | 41.6% | -0.81 | 23.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LTRX | |
|---|---|---|---|---|
| LTRX | 5.3% | 68.6% | 0.37 | - |
| Sector ETF (XLK) | 23.9% | 24.8% | 0.84 | 35.9% |
| Equity (SPY) | 14.3% | 17.0% | 0.66 | 35.8% |
| Gold (GLD) | 18.8% | 18.0% | 0.85 | 7.3% |
| Commodities (DBC) | 10.2% | 19.4% | 0.41 | 7.5% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 23.6% |
| Bitcoin (BTCUSD) | 14.6% | 54.6% | 0.46 | 16.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LTRX | |
|---|---|---|---|---|
| LTRX | 20.7% | 67.4% | 0.57 | - |
| Sector ETF (XLK) | 26.0% | 24.5% | 0.95 | 29.8% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 30.3% |
| Gold (GLD) | 13.3% | 16.0% | 0.69 | 4.5% |
| Commodities (DBC) | 7.3% | 17.9% | 0.33 | 10.0% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.24 | 24.1% |
| Bitcoin (BTCUSD) | 67.0% | 66.9% | 1.06 | 11.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 5/29/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | -13.9% | -9.5% | |
| 2/4/2026 | -6.6% | -7.7% | -9.3% |
| 11/5/2025 | 9.2% | 11.6% | 24.9% |
| 8/27/2025 | 25.3% | 21.8% | 22.9% |
| 5/8/2025 | -7.5% | 0.0% | 7.5% |
| 2/6/2025 | -24.3% | -27.4% | -37.4% |
| 9/5/2024 | 11.1% | 34.2% | 16.8% |
| 4/29/2024 | 8.7% | 8.1% | 9.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 14 | 14 |
| # Negative | 11 | 9 | 8 |
| Median Positive | 10.6% | 20.2% | 15.0% |
| Median Negative | -13.5% | -12.6% | -22.7% |
| Max Positive | 38.5% | 34.2% | 45.9% |
| Max Negative | -32.5% | -27.4% | -39.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/05/2026 | 10-Q |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/29/2025 | 10-K |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/07/2025 | 10-Q |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 09/09/2024 | 10-K |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/08/2024 | 10-Q |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 09/12/2023 | 10-K |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 02/09/2023 | 10-Q |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/29/2022 | 10-K |
Recent Forward Guidance
Updated 5/28/2026Latest: Q3 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Revenue | 29.00 Mil | 31.00 Mil | 33.00 Mil | 1.6% | Higher New | Guidance: 30.50 Mil for Q3 2026 | |
| Q4 2026 Non-GAAP EPS | 0.03 | 0.04 | 0.05 | -11.1% | Lower New | Guidance: 0.04 for Q3 2026 | |
| 2026 Drone Revenue | 10.00 Mil | 12.00 Mil | 14.00 Mil | 20.0% | Raised | Guidance: 10.00 Mil for 2026 | |
| 2027 Revenue Growth | 10.0% | ||||||
Prior: Q2 2026 Earnings Reported 2/4/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Revenue | 28.50 Mil | 30.50 Mil | 32.50 Mil | 1.7% | Raised | Guidance: 30.00 Mil for Q2 2026 | |
| Q3 2026 Non-GAAP EPS | 0.03 | 0.04 | 0.06 | 50.0% | Raised | Guidance: 0.03 for Q2 2026 | |
| 2026 Drone Revenue | 8.00 Mil | 10.00 Mil | 12.00 Mil | ||||
Insider Activity
Updated 5/5/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Gurusamy, Mathi | Chief Product & Strategy Ofcr | Direct | Sell | 3132026 | 6.21 | 14,467 | 89,840 | 345,083 | Form |
| 2 | Bruscha, Bernhard | spouse | Sell | 9082025 | 4.64 | 12,993 | Form | |||
| 3 | Bruscha, Bernhard | spouse | Sell | 9042025 | 5.03 | 10,000 | 50,300 | 65,355 | Form | |
| 4 | Chittipeddi, Sailesh | Direct | Buy | 5232025 | 2.24 | 10,000 | 22,400 | 22,400 | Form | |
| 5 | Derhacobian, Narbeh | Direct | Buy | 5152025 | 2.33 | 5,000 | 11,650 | 57,782 | Form |
Industry Resources
| Technology Hardware, Storage & Peripherals Resources |
| The Verge |
| TechRadar |
| Tom’s Hardware |
| PCMag |
| CNET |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 5/29/2026