Lantronix Inc. reported its first quarter fiscal 2025 results on November 7, 2024, with net revenue totaling $34.4 million, representing a 4 percent increase year-over-year. The GAAP EPS was ($0.07), compared to ($0.05) in the prior year, while non-GAAP EPS was $0.06, compared to $0.07 in the prior year.
The IoT System Solutions segment saw a 47 percent sequential decrease in revenue, primarily due to an expected reduction in shipments to a large smart grid customer and a delayed federal government agency order. Conversely, Embedded IoT Solutions revenue increased by 18 percent sequentially, driven by growth from a large enterprise video conferencing customer.
For the second fiscal quarter of 2025, Lantronix expects revenue in the range of $29.0 million to $33.0 million and non-GAAP EPS of $0.01 to $0.05 per share. This guidance does not include any contribution from the pending acquisition of NetComm’s IoT product line. The company also announced cost reduction initiatives expected to reduce fiscal year 2025 non-GAAP operating expenses by approximately $4.5 million compared to fiscal year 2024.
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