IRVINE, Calif. - Lantronix Inc. (NASDAQ: NASDAQ:LTRX), a global provider of Internet of Things (IoT) solutions, announced the launch of two new telematic gateway products, the FOX4 and Bolero 43 Edge Compute Trackers.
These devices are designed for asset and fleet management and are integrated with the company's Percepxion IoT edge software platform for device provisioning and management.
The new products were recently showcased at two major industry events: Embedded World 2024 in Nuremberg, Germany, and ISC West 2024 in Las Vegas. Quantum (NASDAQ:QMCO) Aviation, a client of Lantronix, praised the FOX Series Telematic Gateways for their ability to deliver reliable, real-time data to cloud-based software, enhancing visibility and analytics for aviation customers.
The FOX4 Edge Compute Tracker features cellular and GNSS technologies, with added BLE and Wi-Fi connectivity, and advanced security features. It supports a range of programming languages and APIs, making it adaptable to various telematics platforms. The Bolero 43, sharing the same ecosystem as FOX4, is designed for harsh environments with an IP68 rating and rugged design.
Both models offer customization through the Workbench tool and come with Lantronix's Connectivity Services SIM card, which allows for a selection of network providers. The Percepxion service, part of the package, aims to streamline IoT edge deployments and contribute to Lantronix's Annual Recurring Revenue growth.
Lantronix focuses on high-growth industries such as Smart Cities, Automotive, and Enterprise, offering solutions across the IoT Stack, including Intelligent Substations, Infotainment systems, and Video Surveillance.
The global telematics market is expected to grow significantly, with Berg Insight forecasting a compound annual growth rate of 10.5 percent, leading to 77.6 million units shipped by 2027, valued at approximately $3.7 billion.
The information provided in this article is based on a press release statement from Lantronix Inc.
InvestingPro Insights
Lantronix Inc. (NASDAQ: LTRX) has been navigating a challenging market environment, as reflected in the company's recent performance metrics. With a market capitalization of $118.43 million, Lantronix's valuation indicates a strong free cash flow yield, according to InvestingPro data. This could be an attractive point for investors looking for companies with the potential to generate cash efficiently. However, the P/E ratio stands at -12.69, suggesting that the market has concerns about the company's near-term earnings potential.
Despite the volatility in stock price movements, with a significant drop of 52.67% over the last three months, Lantronix maintains a healthy liquidity position. The company's liquid assets exceed short-term obligations, which is reassuring for stakeholders monitoring the company's financial resilience. Moreover, analysts predict that Lantronix will be profitable this year, aligning with the company's expectations of growth in the IoT and telematics markets.
For those considering an investment in Lantronix, two InvestingPro Tips stand out. Firstly, the company does not pay a dividend to shareholders, which is important for income-focused investors to consider. Secondly, the stock is trading near its 52-week low, which might indicate a potential entry point for value investors, especially if they believe in the company's growth prospects in the expanding telematics market.
Interested readers can find additional insights and metrics on Lantronix by visiting InvestingPro. For those looking to delve deeper, InvestingPro offers a total of 13 tips on Lantronix, and new subscribers can use the promo code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.