Lantronix Named Eighth Fastest-Growing Midsize Public Company by Orange County Business Journal
Lantronix achieved 116.5% percent growth, driven by its advancements in IoT, intelligent IT, artificial intelligence, robotics, communications and mobility
IRVINE, Calif., Nov. 8, 2022 — Lantronix Inc. (NASDAQ: LTRX), a global provider of secure turnkey solutions for the Industrial Internet of Things (IoT) and the Intelligent IT market, today announced that it was named the 8th fastest-growing midsize* public company by the Orange County Business Journal (OCBJ). With 116.5% percent growth in revenues over two years, Lantronix is the top-ranked software, hardware and engineering services company on the list.
“We are proud to be named among the fastest-growing public companies in Orange County based on our growth in revenues over the past two years,” said Paul Pickle, president and CEO of Lantronix. “We attribute our fast-paced growth to our advancements in IoT, intelligent IT, artificial intelligence, robotics, communications and mobility, which empower our clients to develop world-changing innovations in industries ranging from healthcare to smart cities.”
Contributing to Lantronix’s fast growth over the past year has been its assertive and targeted acquisition strategy. Under Pickle’s leadership, over the past three years, Lantronix has acquired Uplogix, a leading provider of Out-of-Band (OOB) management solutions; Communications Systems’ Transition Networks and Net2Edge businesses, leading providers of IoT and edge connectivity solutions; Intrinsyc Technologies Corporation, an IoT pioneer and Qualcomm® partner; and Maestro and FALCOM Holdings Limited, a leader in wireless IoT and Connectivity solutions.
*OCBJ defines “midsize” as companies with annual revenues between $100 and $500 million.
Lantronix Inc. is a global provider of secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM), offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware.
Lantronix enables its customers to accelerate time to market and increase operational up-time and efficiency by providing reliable, secure and connected Intelligent Edge IoT and Remote Management Gateway solutions.
Lantronix’s products and services dramatically simplify the creation, development, deployment and management of IoT and IT projects across Robotics, Automotive, Wearables, Video Conferencing, Industrial, Medical, Logistics, Smart Cities, Security, Retail, Branch Office, Server Room, and Datacenter applications. For more information, visit the Lantronix website.
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“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in this news release that are not entirely historical and factual in nature, including without limitation statements related to our solutions, technologies and products. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; the impact of the COVID-19 outbreak on our employees, supply and distribution chains, and the global economy; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2022, filed with the Securities and Exchange Commission (the “SEC”) on August 29, 2022, including in the section entitled “Risk Factors” in Item 1A of Part I of such report, as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. The forward-looking statements included in this release speak only as of the date hereof, and we do not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.
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