Q4 2024 Lantronix Inc Earnings Call Transcript
Key Points
- Record revenue of $49.1 million for Q4 2024, a 41% year-over-year increase.
- Non-GAAP EPS grew 150% compared to the same period last year.
- Strong performance in the out-of-band management solutions business, with a 70% year-over-year growth.
- Significant progress in the automotive vertical with new engagements, including a design services purchase order with a large German OEM.
- Improved balance sheet and liquidity, with cash up 95% from the prior year and a 44% reduction in inventories.
- GAAP gross margin declined to 38.1% for Q4 2024 from 40.1% in the prior quarter.
- Sequential decline in embedded IoT solutions by 9%.
- Software and services revenue down from the year-ago period.
- GAAP SG&A expenses increased to $11 million from $8 million in the year-ago quarter.
- Expected sequential decline in revenue for Q1 2025 due to the steep ramp of the smart grid customer in Q4 2024.
Good day, and welcome to the Lantronix fourth-quarter 2024 results conference call. (Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to Jeremy Whitaker, Chief Financial Officer. Please go ahead.
Good afternoon, everyone, and thank you for joining our quarterly earnings call. Joining me on the call today as our President and Chief Executive Officer, Saleel Awsare. A live and archived webcast of today's call will be available on the company's website. In addition, you can find the call-in details for the phone replay in today's earnings release.
During this call, management may make forward-looking statements which involve risks and uncertainties that could cause our results to differ materially from management's current expectations. We encourage you to review the cautionary statements and risk factors contained in the earnings release, which was furnished to the SEC today and is available on our web website and the company's
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