On this page of StockholderLetter.com we present the latest annual shareholder letter from LANTRONIX INC — ticker symbol LTRX. Reading current and past LTRX letters to shareholders can bring important insights into the investment thesis.
Annual Report 2025
Our Target Markets: Lantronix, Inc. is a global leader in Edge AI and Industrial IoT solutions, delivering intelligent computing, secure connectivity and remote management for mission-critical applications. Our Mission Defense & Commercial Drones is to serve high-growth markets, including smart cities, enterprise IT and commercial and defense unmanned systems (Drones), enabling our customers to optimize operations and accelerate digital transformation. Our Solutions Smart Cities/Critical Infrastructure consist of a comprehensive portfolio of hardware, software and services that power applications from secure video surveillance and intelligent utility infrastructure to resilient out-of-band network management. Our Commitment is to bring intelligence to the network edge, helping our customers achieve efficiency, security and a competitive edge in today s AI-driven world. Enterprise IT
September 24, 2025 Dear Fellow Shareholders, We are living in a time when the edge is no longer a frontier but the center of innovation where artificial intelligence, secure connectivity, and mission-critical operations converge. At Lantronix, we are proud to play a leading role in this transformation, helping customers harness the power of Edge AI and Industrial IoT to modernize infrastructure, improve resilience, and accelerate digital transformation. A Year of Transformation Fiscal 2025 was a pivotal year for Lantronix one of disciplined execution and meaningful change. We streamlined our operations, strengthened our balance sheet, and sharpened our focus on the highestgrowth opportunities. Most importantly, we began the shift from being viewed primarily as a hardware supplier to being recognized as a solutions provider at the intelligent edge. We believe these steps created a durable platform from which to scale profitably and sustainably in the years ahead. Positioned for Growth Today Today, Lantronix is a global leader in Edge AI and Industrial IoT solutions, serving customers across smart cities, enterprise IT, robotics, and unmanned systems. These markets are being reshaped by powerful secular trends: the adoption of AI at the edge, the modernization of mission-critical infrastructure, and the demand for secure, U.S.-made solutions. Among these opportunities, the military and commercial drone markets have emerged as one of our most compelling growth drivers. The Military, Governments, and enterprises are rapidly expanding investment in unmanned systems for surveillance, security, and industrial applications. With differentiated edge compute and secure connectivity solutions, Lantronix is well-positioned to power this next wave of innovation. Building the Future Looking ahead, our vision is bold. In the next three to five years, we believe Lantronix will be a scaled business and a recognized global leader at the intelligent edge. We aspire to be the go-to partner for organizations seeking to modernize mission-critical operations from safer cities and more resilient networks to advanced robotics and the rapidly expanding drone ecosystem. The opportunity before us is both large and lasting. The edge is where the digital and physical worlds meet, and it is where the next wave of innovation will take place. By delivering solutions that combine intelligence, security, and connectivity, Lantronix is helping shape that future while creating enduring value for our customers, employees, and shareholders. In Closing I am deeply grateful to our employees for their commitment and creativity, and to our shareholders and partners for their continued trust and support. Together, we are building the future of intelligent connectivity and we are only just getting started. Sincerely, Saleel Awsare
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 • shareholder letter icon 9/24/2025 Letter Continued (Full PDF)
 • stockholder letter icon 10/2/2023 LTRX Stockholder Letter
 • stockholder letter icon 9/30/2024 LTRX Stockholder Letter
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 • Benford's Law Stocks icon LTRX Benford's Law Stock Score = 81


LTRX Shareholder/Stockholder Letter Transcript:

Annual Report
2025

Our Target Markets:
Lantronix, Inc.
is a global leader in Edge AI and Industrial
IoT solutions, delivering intelligent
computing, secure connectivity and
remote management for mission-critical
applications.
Our Mission
Defense & Commercial Drones
is to serve high-growth markets, including
smart cities, enterprise IT and commercial
and defense unmanned systems
(Drones), enabling our customers to
optimize operations and accelerate digital
transformation.
Our Solutions
Smart Cities/Critical Infrastructure
consist of a comprehensive portfolio of
hardware, software and services that power
applications from secure video surveillance
and intelligent utility infrastructure to
resilient out-of-band network management.
Our Commitment
is to bring intelligence to the network edge,
helping our customers achieve efficiency,
security and a competitive edge in today   s
AI-driven world.
Enterprise IT

September 24, 2025
Dear Fellow Shareholders,
We are living in a time when the edge is no longer a frontier but the center of innovation     where
artificial intelligence, secure connectivity, and mission-critical operations converge. At Lantronix,
we are proud to play a leading role in this transformation, helping customers harness the power
of Edge AI and Industrial IoT to modernize infrastructure, improve resilience, and accelerate digital
transformation.
A Year of Transformation
Fiscal 2025 was a pivotal year for Lantronix     one of disciplined execution and meaningful change. We
streamlined our operations, strengthened our balance sheet, and sharpened our focus on the highestgrowth opportunities. Most importantly, we began the shift from being viewed primarily as a hardware
supplier to being recognized as a solutions provider at the intelligent edge. We believe these steps
created a durable platform from which to scale profitably and sustainably in the years ahead.
Positioned for Growth Today
Today, Lantronix is a global leader in Edge AI and Industrial IoT solutions, serving customers across
smart cities, enterprise IT, robotics, and unmanned systems. These markets are being reshaped
by powerful secular trends: the adoption of AI at the edge, the modernization of mission-critical
infrastructure, and the demand for secure, U.S.-made solutions.
Among these opportunities, the military and commercial drone markets have emerged as one of our
most compelling growth drivers. The Military, Governments, and enterprises are rapidly expanding
investment in unmanned systems for surveillance, security, and industrial applications. With
differentiated edge compute and secure connectivity solutions, Lantronix is well-positioned to power
this next wave of innovation.
Building the Future
Looking ahead, our vision is bold. In the next three to five years, we believe Lantronix will be a scaled
business and a recognized global leader at the intelligent edge. We aspire to be the go-to partner for
organizations seeking to modernize mission-critical operations     from safer cities and more resilient
networks to advanced robotics and the rapidly expanding drone ecosystem.
The opportunity before us is both large and lasting. The edge is where the digital and physical worlds
meet, and it is where the next wave of innovation will take place. By delivering solutions that combine
intelligence, security, and connectivity, Lantronix is helping shape that future while creating enduring
value for our customers, employees, and shareholders.
In Closing
I am deeply grateful to our employees for their commitment and creativity, and to our shareholders
and partners for their continued trust and support. Together, we are building the future of intelligent
connectivity     and we are only just getting started.
Sincerely,
Saleel Awsare

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shareholder letter icon 9/24/2025 Letter Continued (Full PDF)
 

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