Lantronix Inc. (LTRX) shares slid down 11.68% in after-hours on Wednesday, November 17, 2021, and closed the daily trading at $7.94. However, in the regular trading session, LTRX’s stock gained 2.74%. LTRX shares have risen 101.12% over the last 12 months, and they have moved down 7.98% in the past week. Over the past three months, the stock has gained 88.08%, while over the past six months, it has soared 68.04%.
Let’s discuss its recent news and developments.
LTRX public offering of common stock
On November 17, 2021, Lantronix, Inc. (LTRX) commenced a proposed underwritten public offering to issue and sell shares of its common stock. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.
The net proceeds from the offer will be used for working capital and general corporate purposes.
LTRX all-in-one connectivity solution
On November 17, 2021, Lantronix Inc. (LTRX) announced that its all-in-one connectivity solution can deliver real-time management and monitoring of distributed retail sites and pop-up stores, improving operational efficiency and increasing uptime, helping stores grow revenues.
Lantronix all-in-one connectivity solution is based on Lantronix SLB, ConsoleFlow™, and Lantronix Connectivity Services (LCS), and it can deliver a secure solution for global remote environments management of retail stores and pop-up sites, including hardware, software, and cellular connectivity.
LTRX recent financial results
On November 10, 2021, Lantronix, Inc. (LTRX), announced its financial results for the first quarter of fiscal 2022, which ended on September 30, 2021.
Q1 2022 financial highlights
- LTRX revenue was $27.7 million in Q1 2022 compared to $20.6 million in Q1 2021.
- The cost of revenue was $15.24 million in Q1 2022 compared to $10.5 million in the same period last year.
- Total operating expenses were $14.3 million in Q1 2022 compared to $11.03 million in Q1 2021.
- It suffered a net loss of $2.28 million or $0.08 loss per basic and diluted share in Q1 2022 compared to a net loss of $1.09 million or $0.04 loss per basic and diluted share in Q1 2021.
LTRX and Green Hills Software collaboration
On October 26, 2021, Green Hills Software, and Lantronix (LTRX) announced a partnership to create safe and secure computing platforms for customers building critical automotive electronic systems.
The new computing platform combines Qualcomm® Snapdragon™ third-generation automotive hardware development kits from Lantronix with Green Hills Software’s safety-certified INTEGRITY® real-time operating systems. The new platform is simple and can empower OEMs and their suppliers to reach production more quickly.
Conclusion
The public offering of common stock was the reason behind its turnaround in the after-markets on Wednesday. we hope that it will perform well in the coming trading session on Thursday.