IRVINE, Calif., Dec. 03, 2020 (GLOBE NEWSWIRE) -- Lantronix Inc. (LTRX) - Get Report, a global provider of Software as a Service (SaaS), engineering services and intelligent hardware for the Internet of Things (IoT) and Remote Environment Management (REM), today announced that it was named the fifth fastest-growing small* public company by the Orange County Business Journal. With 31.4 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 small public companies in Orange County," said Paul Pickle, president and CEO of Lantronix. "We attribute our fast-paced growth to our advancements in IoT, artificial intelligence, robotics, communications and mobility. Our hardware, software and engineering services deliver a holistic solution that empowers our customers to innovate breakthrough products and services that have the potential to change the world."
Lantronix's advanced artificial intelligence, robotics and IoT products and engineering services contributed to the development of two of T IME 's Best Inventions of 2020: Moxie Children's Robot from Embodied Inc. and the HC1 Communicator smart hardhat from Guardhat. With Lantronix's support, both companies were able to affordably jumpstart their designs and quickly get products to market.
Contributing to Lantronix's fast growth over the past year has been its assertive and targeted acquisition strategy. Under Pickle's leadership, Lantronix acquired IoT pioneer and Qualcomm® partner Intrinsyc Technologies Corporation in January 2020. It also acquired Maestro and FALCOM Holdings Limited, a leader in wireless IoT and connectivity technologies, in July 2019.
*OCBJ defines "small" as companies with less than $100 million in revenue.
Lantronix Inc. is a global provider of software as a service (SaaS), engineering services and hardware for Edge Computing, the Internet of Things (IoT) and Remote Environment Management (REM). Lantronix enables its customers to provide reliable and secure solutions while accelerating their time to market. Lantronix's products and services dramatically simplify operations through the creation, development, deployment and management of customer projects at scale while providing quality, reliability and security.
Lantronix's portfolio of services and products address each layer of the IoT Stack, including Collect, Connect, Compute, Control and Comprehend, enabling its customers to deploy successful IoT and REM solutions. Lantronix's services and products deliver a holistic approach, addressing its customers' needs by integrating a SaaS management platform with custom application development layered on top of external and embedded hardware, enabling intelligent edge computing, secure communications (wired, Wi-Fi and cellular), location and positional tracking and environmental sensing and reporting.
With three decades of proven experience in creating robust industry and customer-specific solutions, Lantronix is an innovator in enabling its customers to build new business models, leverage greater efficiencies and realize the possibilities of IoT and REM. Lantronix's solutions are deployed inside millions of machines at data centers, offices and remote sites serving a wide range of industries, including energy, agriculture, medical, security, manufacturing, distribution, transportation, retail, financial, environmental, infrastructure and government.
For more information, visit www.lantronix.com. Learn more at the Lantronix blog, www.lantronix.com/blog, featuring industry discussion and updates. To follow Lantronix on Twitter, please visit www.twitter.com/Lantronix. View our video library on YouTube at www.youtube.com/user/LantronixInc or connect with us on LinkedIn at www.linkedin.com/company/lantronix.
"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 and technologies and the support of the development of wearable electronics and IoT devices utilizing Lantronix's Lantronix Open-Q™ 626 μSOM (micro System on Module), and engineering expertise are forward-looking statements. 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, 2020, filed with the Securities and Exchange Commission (the "SEC") on September 11, 2020, 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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