Source: Investing Published 10/01/2025, 15:18
Irvine, Calif. – Lantronics (NASDAQ: LTRX), a $154.67 million market cap, $161.72 million annual revenue, today announced the promotion of Brent Stringham to Chief Financial Officer (CFO). Stringham, who has been with the company since 2012, previously served as Lantronics’ interim CFO and Chief Accounting Officer.
CEO Salil Osari expressed confidence in Stringham’s extensive financial knowledge and contributions to the company over the past 13 years. According to InvestingPro data, the company maintains a healthy financial position with a strong current ratio of 2.61 and operates with moderate debt levels. Osari stated that Stringham’s leadership will support Lantronix’s commitment to shareholder value and its strategic objectives in the edge intelligence segment of the IoT industry.
Stringham brings a strong background in finance to his new role, with previous positions at Iteris Inc., Netlist Inc., and Ernst & Young. He is a certified public accountant and holds a bachelor’s degree in business administration and accounting from California State University, Fullerton.
Lantronix is known for its innovative solutions that address the needs of high-growth industries such as smart cities, automotive, and enterprise. The company offers products and services designed to address every layer of the IoT ecosystem, including smart substation infrastructure, infotainment systems, video surveillance, and advanced out-of-band management (OOBM) for cloud and edge computing.
The company’s announcement is based on a press release and comes with the usual disclaimer for forward-looking statements, stating that actual results may differ due to a range of risks and uncertainties.
The company advises investors not to place undue reliance on these forward-looking statements, which reflect its expectations as of the date of the statement. Lantronix has stated that it will not update any forward-looking statements unless required by law or Nasdaq rules.
In other recent news, Lantronix made a significant move into the IoT sector with the acquisition of NetComm Wireless Pty Ltd, a subsidiary of DZS Inc. The $6.5 million deal is expected to enhance Lantronix’s 5G-advanced enterprise IoT portfolio and contribute $6 million to $7 million in revenue during calendar year 2024. Additionally, the company reported a modest 4% year-over-year increase in revenue to $34.4 million for the first quarter of fiscal 2025, with non-GAAP EPS of $0.06.
The company’s shares were subject to a revised price target from Canaccord Genuity, which lowered it to $5.00 from $7.50 previously but maintained a Buy rating. The new price target is based on approximately 13x FY26 non-GAAP EPS estimates of $0.38. Canaccord Genuity anticipates potential future acquisitions by Lantronics and is eyeing follow-on orders from Lantronics’ largest customer, Gridspertise, and Turkish automotive manufacturer Togg.
These recent developments, including the acquisition of NetComm and a collaboration with Qualcomm on edge AI, are likely to significantly boost Lantronix’s revenue and market position going forward. However, the company provided a cautious revenue outlook for Q2 FY25, forecasting revenue in the range of $29 million to $33 million and non-GAAP EPS in the range of $0.01 to $0.05. Despite ongoing challenges with a major automotive customer in Turkey and slowdown in federal projects, Lantronics expects 20% growth for 2025 after NetComm merger.
