Bernhard Bruscha, a significant shareholder in Lantronix Inc. (NASDAQ:LTRX), has sold a portion of his holdings in two separate transactions. On October 15 and 16, Bruscha sold a total of 52,500 shares of the company's common stock. The shares were sold at prices ranging from $4.08 to $4.2038, amounting to a total transaction value of $218,223. Following these sales, Bruscha, through TL Investment GmbH, retains 5,166,471 shares in indirect ownership. Additionally, Bruscha holds 156,454 shares directly and 22,993 shares indirectly through his spouse. Bruscha's transactions were executed on behalf of TL Investment GmbH, where he serves as managing director.
In other recent news, Lantronix, Inc. experienced a substantial increase in its fiscal year 2024 fourth-quarter revenue and earnings per share (EPS), with a 41% year-over-year increase in its quarterly revenue reaching $49.1 million, and a 150% growth in non-GAAP EPS. For the full fiscal year, Lantronix achieved a revenue of $160.3 million, a 22% growth year-over-year, and record non-GAAP earnings of $15.4 million, up 83% year-over-year. Additionally, Lantronix announced a change in its financial leadership, with CFO Jeremy Whitaker stepping down and Brent Stringham stepping in as the Interim CFO, supported by consultant David McLennan, former CFO of Sierra Wireless (NASDAQ:SWIR) Inc.
In other developments, Lantronix board member Christa Steele has decided not to stand for re-election, reducing the board to five directors effective at the 2024 annual meeting of stockholders. Moreover, Lantronix continues to grow in key vertical markets such as Smart Cities, Automotive, and Enterprise, with a recent partnership with Qualcomm (NASDAQ:QCOM) on Edge AI computing projects and significant orders in the smart grid sector. Looking ahead, Lantronix expects revenue for the first quarter of fiscal 2025 to be between $34 million and $38 million, with non-GAAP EPS between $0.07 and $0.11 per share.
InvestingPro Insights
To provide context to Bernhard Bruscha's recent stock sales, it's worth examining some key financial metrics and insights from InvestingPro. Lantronix Inc. (NASDAQ:LTRX) has shown strong revenue growth, with a 40.52% increase in quarterly revenue as of Q4 2024. This growth trajectory aligns with an InvestingPro Tip suggesting that net income is expected to grow this year.
Despite the recent insider selling, the stock has demonstrated significant momentum. InvestingPro data shows a 33.12% price total return over the past six months, indicating investor confidence in the company's prospects. This positive trend is further supported by an InvestingPro Tip highlighting a significant return over the last week.
It's important to note that while the company is not currently profitable, analysts predict profitability this year, according to another InvestingPro Tip. This expectation could explain the recent stock price movements and investor interest.
For readers seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Lantronix Inc., providing a deeper understanding of the company's financial health and market position.
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