Lantronix (LTRX) Turns A Drone Bet Into A Real Growth Engine
Lantronix (LTRX) transformed from a niche embedded-connectivity supplier into a growth engine driven by drones, edge AI compute, and recurring software revenue. In fiscal 2026, the company reported $31.2 million in revenue, an 8% increase from the previous year, and non-GAAP earnings per share climbed 300% to $0.04. The company now boasts 30+ unmanned systems engagements, a $12.6 million unmanned systems revenue, and recurring software revenue growth of 34%.
CEO Saleel Awsare credits a US Army short-range reconnaissance program win and Blue UAS approval for its aerospace success. The company is also expanding partnerships, such as AVT Australia and Swarmer collaborations, to boost onboard processing power. With a $44 million capital raise and $60.5 million in cash, the company is well-positioned for growth.
Despite a GAAP net loss of $269,000, the company's debt-free balance sheet and aggressive growth targets signal potential for investors. However, the stock remains priced for continued earnings growth and faces challenges from tight memory availability and rising prices.
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