Company’s Q2 results disappoint and guidance revised downwards

  • Lantronix shares sink 30% after slashing FY24 outlook
  • Second-quarter results miss estimates
  • Revenue guidance lowered to $155 million to $165 million
  • Adjusted earnings guidance lowered to 35 cents to 45 cents per share
  • Q2 loss of $2.59 million, compared to $2.61 million loss in the previous year
  • Q2 revenue of $37 million, falling short of analysts’ forecast

Shares of Lantronix plunged 30% after the company announced a significant cut to its full-year guidance and reported second-quarter results that missed estimates. The Irvine-based Internet-of-Things solutions provider now expects revenue of $155 million to $165 million in fiscal 2024, down from its previous guidance of $175 million to $185 million. Adjusted earnings guidance was also lowered to 35 cents to 45 cents per share, compared to the previous forecast of 50 cents to 60 cents. In the second quarter, Lantronix posted a loss of $2.59 million, or 7 cents per share, compared to a loss of $2.61 million, or 7 cents per share, in the same period last year. Revenue for the quarter rose 18% to $37 million, falling short of analysts’ expectations.

Public Companies: Lantronix (N/A)
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Factuality Level: 8
Justification: The article provides specific information about Lantronix’s lowered guidance and missed estimates, including the percentage decrease in stock price and the revised revenue and earnings guidance. It also includes the actual financial results for the second quarter and compares them to analysts’ expectations. The information provided is factual and supported by data.

Noise Level: 7
Justification: The article provides relevant information about Lantronix’s financial performance, including the company’s lowered guidance and missed estimates. It includes details about the stock price decline and the reasons behind it. However, the article lacks in-depth analysis, scientific rigor, and actionable insights. It mainly focuses on reporting the facts without exploring the consequences or providing solutions.

Financial Relevance: Yes
Financial Markets Impacted: Shares of Lantronix

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of Lantronix, a company providing Internet-of-Things solutions. The company’s stock fell after it lowered its full-year guidance and reported second-quarter results that missed estimates. This information is relevant to financial markets and investors.

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