IRVINE, Calif., March 28, 2023 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global provider of secure turnkey solutions for the Industrial Internet of Things (IoT) and the Intelligent IT market, today announced its new X300 Compact Gateway IoT Solution. Ideal for secure mission-critical applications, the new X300 Cellular Compact IoT Gateway Solution combines Lantronix’s IoT gateway hardware with a premium services subscription, including centralized device management, integrated cellular data, enhanced device security and expert technical support in an all-in-one package.

“At Lantronix, we are committed to providing our customers with turnkey IoT solutions that efficiently solve their connectivity and remote device management challenges while offering expert technical support to ensure a successful deployment,” said Paul Pickle, CEO of Lantronix. “With the new X300 Compact Gateway IoT Solution, our customers can rest assured that they have a reliable, easy-to-manage solution, achieving maximum uptime and data security for mission-critical applications.”

According to Berg insights, more than 4.5 million cellular IoT gateways were shipped globally during 2021, a 23 percent increase, at a total market value of approximately $1.15 billion as annual sales grew at a rate of 14 percent as demand recovered following the COVID-19 pandemic. Annual revenues from the sales of cellular IoT gateways is forecasted to grow at a compound annual growth rate (CAGR) of 14 percent to reach $2.18 billion by 2026.

The X300 Compact Gateway IoT Solution includes:

• X300 Gateway, a compact (79mm X 79mm) IoT industrial gateway with suitable hardware interfaces, including a Multi-mode Serial port, an Ethernet LAN port, Wi-Fi® 5, Bluetooth/BLE and Worldwide cellular options, enabling the connection of any type of industrial machine and sensor with any type of network.
• Services included in the first-year subscription:
  • Free upgrade to ConsoleFlow™ premium cloud-based device management with analytics
  • Connectivity Services global, convenient and scalable cellular data plans
  • Free upgrade to LEVEL 2 Services prompt expert technical support and warranty with advanced hardware replacement
  • Lantronix InfiniShield™ built-in security, including a Secure Element (SE) chip to enable secure boot, secure equipment access and secure communications and to prevent unauthorized access of confidential information

The new X300 Gateway IoT Solution will be displayed at ISC West in Las Vegas from March 28–31, 2023, in the Lantronix booth, Number 2097. For more information on this all-in-one package, visit https://www.lantronix.com/products/x300-series/

About Lantronix

Lantronix Inc. is a global provider of secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM), offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware.

Lantronix enables its customers to accelerate time to market and increase operational up-time and efficiency by providing reliable, secure and connected Intelligent Edge IoT and Remote Management Gateway solutions.

Lantronix’s products and services dramatically simplify the creation, development, deployment and management of IoT and IT projects across Robotics, Automotive, Wearables, Video Conferencing, Industrial, Medical, Logistics, Smart Cities, Security, Retail, Branch Office, Server Room and Datacenter applications. For more information, visit the Lantronix website.

Learn more at the Lantronix blog, which features industry discussion and updates. Follow Lantronix on Twitter, view our YouTube video library or connect with us on LinkedIn.

“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, technologies and products. 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, 2022, filed with the Securities and Exchange Commission (the “SEC”) on Aug. 29, 2022, 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.

© 2023 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

Lantronix Media Contact:        
Gail Kathryn Miller
Corporate Marketing &
Communications Manager
media@lantronix.com
949-212-0960

Lantronix Analyst and Investor Contact:        
Jeremy Whitaker
Chief Financial Officer
investors@lantronix.com
949-450-7241

Lantronix Sales:
sales@lantronix.com
Americas +1 (800) 422-7055 (US and Canada) or +1 949-453-3990
Europe, Middle East and Africa +31 (0)76 52 36 744
Asia Pacific + 852 3428-2338
China + 86 21-6237-8868
Japan +81 (0) 50-1354-6201
India +91 994-551-2488

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/891ce64a-0d25-4f9e-add8-2538d7b31006