Lantronix, Inc.
Rank #194StartupLTRX · Nasdaq · Technology
Lantronix, Inc. (LTRX) — Rank #194 by gross profitability (GP/assets 0.33) · ROE -3.5% · Piotroski F-Score 6 / 9.
As-of 2026-09-15 · CIK 0001114925 · all metrics point-in-time as of the filing date.
About
Lantronix, Inc. develops, markets, and sells industrial and enterprise internet of things (IoT) products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan.
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The company's embedded IoT solutions provides embedded products, including compute system-on-module and system-in-package solutions; and application processing solutions for data transformation, computer vision, machine learning, augmented/virtual reality, audio/video aggregation and distribution, and custom applications. It also provides IoT systems solutions, which includes routing, switching or gateway functionalities, telematics, and media conversion; wired and wireless connections which enhances modern electronic systems and equipment by providing secure network connectivity, power for IoT end devices through power over ethernet, application hosting, protocol conversion, media conversion, secure access for distributed IoT deployments, and other functions; and pre-certified products. In addition, the company offers single-pane-of-glass management for out-of-band (OOB) and industrial IoT deployments that enables customers to deploy, monitor, manage, and automate deployments; GPS-based vehicle and asset tracking capabilities for fleet, municipal, and industrial asset tracking customers; engineering services comprising turnkey product development or team augmentation; extended warranty, support, and maintenance services related to OOB and certain other product families. Further, it provides intelligent computing, secure connectivity, and remote management for mission-critical applications, enabling customers to optimize operations, enhance security and accelerate digital transformation; and hardware, software, services, and powers applications from mission-critical autonomous platforms and edge analytics for critical infrastructure to intelligent surveillance and secure network management. Lantronix, Inc.
was incorporated in 1989 and is headquartered in Irvine, California.
- Industry
- Communication Equipment
- Sector
- Technology
- State
- DE
- Filer Category
- Accelerated filerSmaller reporting company
- Fiscal Year End
- June 30
- Website
- lantronix.com
Price History
Company Snapshot
P/S is the primary valuation lens for pre-profit companies.
Market Cap
$242.87M
P/E (annual)
—
P/S (annual)
2.0
P/B
2.0
P/OCF (annual)
24.6
Shareholder Yield
-4.0%
Employees
327
Industry
Communication Equipment
Exchange
Nasdaq
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
0/2 passTerry Smith quality gate
Passes 0/5 Terry Smith thresholds2 of 5 thresholds not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
9.3%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Dilution drag: 4.0% — per-share value needs a total required return of 13.3% once share-count change is priced in.
vs. own 6-year median revenue growth: 0.6%
priced above its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
4.9%
r = 10% (base)
9.3%
r = 12%
13.1%
Net debt / market cap: -29.0%
Note: current FCF margin is 1.7σ above its historical mean — implied growth may understate valuation risk if the margin reverts.
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Earnings bubble check
Current margins may be above sustainable levels — a P/E based on peak earnings can overstate cheapness.
Burn rate (cash flow) is the primary read at this stage — TAM and product-market fit aren't metrics this dashboard tracks.
Profitability
Gross profitability (GP / assets)
0.33
Primary signal (Novy-Marx).
4th of 5 SIC 3576 peers
Return on equity
-3.5%
Gross margin
43.8%
5th of 5 SIC 3576 peers
Revenue growth (YoY)
-1.6%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.34
1st of 5 SIC 3576 peers (best = lowest)
Current ratio
3.66×
1st of 5 SIC 3576 peers
Quick ratio
2.67×
Net cash
$60.47M
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$9.27M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
3.22
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
5.2%
Stock-based comp intensity.
Piotroski F-Score
F-Score
6 / 9
Fundamental-strength score (0-9).
Lifecycle Phase History
Lynch sell alert: Turnaround stalled
Classified startup for 2 consecutive fiscal years (2025-06-30, 2026-06-30) with no recovery to a healthier phase -- Lynch's turnaround rule: if it hasn't turned around by now, assume it isn't going to.