• First Quarter Net Revenue of $31.8 Million, up 15 Percent Year-Over-Year
• First Quarter GAAP EPS of ($0.05) vs. ($0.08) in the Prior Year
• First Quarter Non-GAAP EPS of $0.07 vs. $0.08 in the Prior Year
• Raises Full Year Fiscal 2023 Revenue Guidance to a range of $155 Million to $165 Million

Lantronix Inc. (NASDAQ: LTRX), a global provider of secure turnkey solutions for Intelligent IT and Internet of Things (IoT), today reported results for its first quarter of fiscal 2023.

Net revenue totaled $31.8 million, up 15 percent year-over-year and down 12 percent sequentially.

GAAP EPS of ($0.05), compared to ($0.08) in the prior year and $0.07 in the prior quarter.

Non-GAAP EPS of $0.07, compared to $0.08 in the prior year and $0.08 in the prior quarter.

Business Outlook

The company is raising its full year fiscal 2023 revenue and non-GAAP EPS estimates to reflect its recent acquisition. The company currently expects full year fiscal 2023 revenues in a range of $155 to $165 million, up 20 percent to 27 percent year over year, and non-GAAP EPS in a range of $0.41 to $0.46 per share, up 24 percent to 39 percent year over year.

Conference Call and Webcast

Lantronix will host an investor conference call and audio webcast on Wednesday, November 9, 2022, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time), to discuss its results for the first quarter of fiscal 2023 that ended September 30, 2022. To access the live conference call, investors should dial 1-844-802-2442 (US) or 1-412-317-5135 (international) and indicate that they are participating in the Lantronix Q1 FY 2023 call. The webcast will be available simultaneously via the investor relations section of the Company’s website.

Investors can access a replay of the conference call starting at approximately 7:00 p.m. Pacific Time on Wednesday, November 9, 2022, at the Lantronix website. A telephonic replay will also be available through November 16, 2022, by dialing 1-877-344-7529 (US) or 1-412-317-0088 (international) and entering passcode 7663228.