Key Points
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Q1 revenue rose more than 8% year over year to $32.4 million, while non-GAAP net income increased to $2.2 million. Lantronix forecast Q2 revenue of $32.5 million to $34.5 million and reiterated its expectation for double-digit revenue growth in fiscal 2027.
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Embedded IoT revenue grew 37%, led by demand for computing products used in unmanned systems. The company said it has orders from 29 customers for fiscal 2027 and expects unmanned systems to contribute about 15% to 20% of full-year revenue.
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Gross margins improved sequentially to 45.3% on a non-GAAP basis, and the company expects margins to remain in the mid-40% range despite industry memory-cost pressures. Lantronix also reported approximately $51.5 million in cash and short-term investments at quarter-end.
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