Lantronix announces record $40M Gridspertise contract, updates FY2023 guidance

LANTRONIX INC

2023-Q2 EPS reported -$0.12 revenue$63,301,000

Record $40M contract with Gridspertise for Quantum Edge units; largest in Lantronix history.
Preliminary Q2 FY2023 revenue expected between $31M and $32M.
FY2023 revenue guidance revised to $135-145M (4-12% YoY growth); contract revenue now expected in FY2024.
Customer-requested design change increased dollar content but delayed pilot production; shipments start Q1 FY2024.
Backlog near record levels; management expects return to growth in H2 FY2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LANTRONIX INC reported second quarter of fiscal 2023 ended December 31, 2022 results: revenue between $31 million and $32 million.

Period: second quarter of fiscal 2023 ended December 31, 2022
Revenue: between $31 million and $32 million
Result: preliminary results

Exact text from the filing

The company currently expects to report second quarter 2023 revenue between $31 million and $32 million.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LANTRONIX INC reported fiscal year 2023 results: revenue $135 million to $145 million.

Period: fiscal year 2023
Revenue: $135 million to $145 million
Result: guidance update

Exact text from the filing

For fiscal year 2023, the company now expects revenue of $135 million to $145 million, up approximately 4 percent to 12 percent year over year.

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Source: SEC EDGAR

accession 0001683168-23-000419

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