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IRVINE, CA – Lantronix Inc. (NASDAQ:LTRX), a company specializing in computer communications equipment with a market capitalization of $84 million, announced the promotions of two executive officers with associated salary increases, as per the recent SEC filing dated April 1, 2025. The company’s stock is currently trading near its 52-week low, having declined about 37% over the past six months.
Kurt Hoff has been appointed as the new Chief Revenue Officer, and Mathi Gurusamy will take on the role of Chief Product and Strategy Officer, effective from the same date. Accompanying their new positions, both executives will receive an annual base salary of $375,000.
This organizational change comes as part of Lantronix’s strategic adjustments within its leadership team. The amendments to the offer letters, which detail the new compensatory arrangements, were attached to the filing as exhibits, providing transparency about the terms of the promotions. According to InvestingPro data, the company maintains a healthy financial position with liquid assets exceeding short-term obligations and a current ratio of 2.56.
The promotions of Hoff and Gurusamy reflect Lantronix’s commitment to strengthening its executive team and are expected to support the company’s growth objectives in the technology sector. The company, based in Irvine, California, operates under Delaware incorporation with a fiscal year ending on June 30.
Lantronix’s stock is traded on The Nasdaq Stock Market LLC under the symbol LTRX. The company has not disclosed any further details regarding the impact of these executive changes on its operations or strategic plans.
The information for this report is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, Lantronix Inc. reported its financial results for the second quarter of fiscal year 2025, revealing a non-GAAP earnings per share (EPS) of $0.04, which was significantly below analysts’ expectations of $0.10. The company’s revenue for the quarter was $31.2 million, falling short of the anticipated $38.56 million and marking a 16% decrease compared to the same period last year. In light of these results, Lake Street Capital Markets adjusted its price target for Lantronix to $5.00 from $6.00 but maintained a Buy rating, citing a challenging transitional year ahead. The firm remains optimistic about Lantronix’s potential growth in fiscal year 2026, supported by positive initial feedback on the company’s edge AI products.
Additionally, Lantronix announced the appointment of Steve Burrington as Vice President of Global Research and Development to enhance its IoT solutions. Burrington’s extensive experience in engineering and technology leadership is expected to contribute to Lantronix’s strategic technology direction. CEO Saleel Awsare emphasized the importance of this leadership in aligning the company’s technology and product strategies for sustainable growth. The company has also completed substantial cost reduction initiatives, which are expected to benefit future earnings. These developments indicate Lantronix’s strategic focus on expanding its research and development capabilities and maintaining its competitive position in the IoT market.
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