Day: April 16, 2024

DALI Alliance Launches DALI +

LONDON, April 16, 2024 (GLOBE NEWSWIRE) — The DALI Alliance, recognized as the international authority in lighting technology standardization, has unveiled much-anticipated certification details for its wireless specification: DALI+ over Thread.

As lighting specifications increasingly seek smarter, sustainable, and interoperable solutions, DALI+ emerges as a crucial enabler of standardized wireless or IP-based lighting systems. The alliance’s collaboration with partners such as Thread Group has resulted in the integration of enhanced security and encryption solutions, ensuring the integrity and confidentiality of data transmission within DALI+ networks.

Key features of DALI+ with Thread include:

• Wireless Mesh Network: Thread creates an Internet Protocol version 6 (IPv6) based wireless mesh network. Off-the-shelf Thread border routers can also be used to connect multiple Thread networks through IP technologies, such as Ethernet or Wi-Fi, allowing a highly scalable lighting control system.
• Extended Addressing: In addition to the standard 64 control gear and 64 control device addresses, DALI+ with Thread IPv6 routing allows almost unlimited addressing capability. The usual DALI broadcast, group and short-addressing methods are included together with IP unicast and multicast capability.
• Interoperability: DALI+ certification includes all the benefits of the existing DALI-2 and D4i certification programs with extensive testing, independent verification, and listing of every certified product in a publicly searchable product database to ensure a high level of product interoperability. Furthermore, DALI+ bridge devices will allow DALI-2 wired devices or systems to connect with and operate with the products in a DALI+ wireless system.
• Device Support: DALI+ supports a wide array of control devices, including occupancy sensors, light sensors, switches, sliders, rotaries, and pushbuttons. Control gear support currently includes LED drivers with the three optional data parts: luminaire data, power and energy, and diagnostics data.

Paul Drosihn, General Manager of the DALI Alliance, expressed enthusiasm about the launch, stating, “This represents a significant advancement in DALI-enabled technology. Our members and users will experience the benefits of enhanced wireless interoperability and strengthened sustainability credentials.” Drosihn continues, “Moreover, this milestone underscores our steadfast commitment to driving innovation and nurturing eco-conscious solutions within the industry. By leveraging the potential of DALI technology, we are not only revolutionizing lighting controls but also laying the groundwork for a more sustainable future for generations to come.”

Commenting on the collaboration, Klaus Waechter, VP Commercial Buildings at Thread, said, “We are proud to collaborate with the DALI Alliance in utilizing Thread technology in the DALI+ specification. This partnership underscores our commitment to advancing wireless connectivity and interoperability for commercial grade markets and the lighting industry in general.”

For more information, please contact press@parrotprandmarketing.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cab88b27-8652-41d6-a8b9-23f872dd416c

GlobeNewswire Distribution ID 1000934974

Dr. Khan, formerly the Chief Data Science Officer and Global Head of Strategy and Portfolio, Innovative Medicine R&D at Johnson & Johnson (J&J), will also join Recursion’s Board of Directors

“Najat brings a unique blend of leadership in biological, chemical, and medical sciences, data science, and business,” said Chris Gibson, Co-Founder and CEO of Recursion. “More importantly, she has a vision and passion for transforming drug discovery and development that complements ours and she has a strong sense of urgency to accelerate the industry’s future. We are excited to welcome her as a Recursionaut to drive our portfolio pipeline, as well as create commercial strategies as we continue to industrialize the creation of high impact medicines.”

Dr. Khan has deep expertise in the pharmaceutical and healthcare industry, spanning biological, chemical, and medical science, computational and data science, and general business leadership, with a focus on driving substantial patient and business value. As the Chief Data Science Officer and Global Head of Strategy and Portfolio Organization, for Innovative Medicine R&D at Johnson & Johnson, Najat played an integral role with the senior leadership team in building an industry-leading pipeline that delivered multiple transformational medicines. She has been a pioneer in driving the impact of data science/AI at scale while establishing a top-tier diverse data science team, underpinning her commitment to innovation and excellence at the intersection of healthcare and technology. Dr. Khan co-chaired Johnson & Johnson’s Data Science Council, where she has played a key leadership role in driving the adoption of data science across the company to achieve business impact and deploy best practices for data use, AI, ethics, as well talent recruitment and development.

“My mission and focus has been to harness the power of science, data, and AI to revolutionize the way we discover, develop, and deliver transformative medicines for patients”, said Dr. Khan, “This seamlessly aligns with Recursion’s goal to pioneer the burgeoning TechBio sector and decode biology and chemistry to radically improve lives. I believe their approach represents the future of our industry, and sets Recursion to be at the forefront to deliver on this vision. I’m thrilled to be part of Recursion’s board and leadership team, embarking on this vital mission together.”

Dr. Khan serves as a board member for Alliance for Artificial Intelligence in Healthcare and is a Steering Committee member of the White House’s Moonshot CancerX program to enhance outcomes for cancer patients. Najat is the founder and co-chair of the Data Science in Industry Roundtable (DISRUPT) – a cross industry forum dedicated to driving impact through Data Science. She is an alumna of University of Pennsylvania with a doctorate in Organic Chemistry leveraging experimental and computational approaches, has an undergraduate degree in Computational Chemistry and a minor in Business / Economics from Colgate University, and is published in various high-impact journals.

“We are pleased to welcome Najat to the board to guide the strategic vision of Recursion,” said Dean Li, Co-Founder and Board Member of Recursion and President, Merck Research Laboratories, “Najat shares our outlook on how the industry needs to evolve, and I believe her insight will be highly valuable as we enter the era of AI enabled drug discovery and development.”

About Recursion
Recursion is a clinical stage TechBio company leading the space by decoding biology to industrialize drug discovery. Enabling its mission is the Recursion OS, a platform built across diverse technologies that continuously expands one of the world’s largest proprietary biological, chemical and patient-centric datasets. Recursion leverages sophisticated machine-learning algorithms to distill from its dataset a collection of trillions of searchable relationships across biology and chemistry unconstrained by human bias. By commanding massive experimental scale — up to millions of wet lab experiments weekly — and massive computational scale — owning and operating one of the most powerful supercomputers in the world, Recursion is uniting technology, biology, chemistry and patient-centric data to advance the future of medicine.

Recursion is headquartered in Salt Lake City, where it is a founding member of BioHive, the Utah life sciences industry collective. Recursion also has offices in Toronto, Montreal and the San Francisco Bay Area. Learn more at www.Recursion.com, or connect on X (formerly Twitter) and LinkedIn.

Media Contact
Media@Recursion.com

Investor Contact
Investor@Recursion.com

Forward-Looking Statements
This document contains information that includes or is based upon “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995, including, without limitation, all statements that are not historical facts. Forward-looking statements may or may not include identifying words such as “plan,” “will,” “expect,” “anticipate,” “intend,” “believe,” “potential,” “continue,” and similar terms. These statements are subject to known or unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements, including but not limited to: challenges inherent in pharmaceutical research and development, including the timing and results of preclinical and clinical programs, where the risk of failure is high and failure can occur at any stage prior to or after regulatory approval due to lack of sufficient efficacy, safety considerations, or other factors; our ability to leverage and enhance our drug discovery platform; our ability to obtain financing for development activities and other corporate purposes; the success of our collaboration activities; our ability to obtain regulatory approval of, and ultimately commercialize, drug candidates; our ability to obtain, maintain, and enforce intellectual property protections; cyberattacks or other disruptions to our technology systems; our ability to attract, motivate, and retain key employees and manage our growth; inflation and other macroeconomic issues; and other risks and uncertainties such as those described under the heading “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K. All forward-looking statements are based on management’s current estimates, projections, and assumptions, and Recursion undertakes no obligation to correct or update any such statements, whether as a result of new information, future developments, or otherwise, except to the extent required by applicable law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/21f011ab-bada-4c3e-a55f-d8eabecf35ad

GlobeNewswire Distribution ID 9090097

Dr. Khan, formerly the Chief Data Science Officer and Global Head of Strategy and Portfolio, Innovative Medicine R&D at Johnson & Johnson (J&J), will also join Recursion’s Board of Directors

“Najat brings a unique blend of leadership in biological, chemical, and medical sciences, data science, and business,” said Chris Gibson, Co-Founder and CEO of Recursion. “More importantly, she has a vision and passion for transforming drug discovery and development that complements ours and she has a strong sense of urgency to accelerate the industry’s future. We are excited to welcome her as a Recursionaut to drive our portfolio pipeline, as well as create commercial strategies as we continue to industrialize the creation of high impact medicines.”

Dr. Khan has deep expertise in the pharmaceutical and healthcare industry, spanning biological, chemical, and medical science, computational and data science, and general business leadership, with a focus on driving substantial patient and business value. As the Chief Data Science Officer and Global Head of Strategy and Portfolio Organization, for Innovative Medicine R&D at Johnson & Johnson, Najat played an integral role with the senior leadership team in building an industry-leading pipeline that delivered multiple transformational medicines. She has been a pioneer in driving the impact of data science/AI at scale while establishing a top-tier diverse data science team, underpinning her commitment to innovation and excellence at the intersection of healthcare and technology. Dr. Khan co-chaired Johnson & Johnson’s Data Science Council, where she has played a key leadership role in driving the adoption of data science across the company to achieve business impact and deploy best practices for data use, AI, ethics, as well talent recruitment and development.

“My mission and focus has been to harness the power of science, data, and AI to revolutionize the way we discover, develop, and deliver transformative medicines for patients”, said Dr. Khan, “This seamlessly aligns with Recursion’s goal to pioneer the burgeoning TechBio sector and decode biology and chemistry to radically improve lives. I believe their approach represents the future of our industry, and sets Recursion to be at the forefront to deliver on this vision. I’m thrilled to be part of Recursion’s board and leadership team, embarking on this vital mission together.”

Dr. Khan serves as a board member for Alliance for Artificial Intelligence in Healthcare and is a Steering Committee member of the White House’s Moonshot CancerX program to enhance outcomes for cancer patients. Najat is the founder and co-chair of the Data Science in Industry Roundtable (DISRUPT) – a cross industry forum dedicated to driving impact through Data Science. She is an alumna of University of Pennsylvania with a doctorate in Organic Chemistry leveraging experimental and computational approaches, has an undergraduate degree in Computational Chemistry and a minor in Business / Economics from Colgate University, and is published in various high-impact journals.

“We are pleased to welcome Najat to the board to guide the strategic vision of Recursion,” said Dean Li, Co-Founder and Board Member of Recursion and President, Merck Research Laboratories, “Najat shares our outlook on how the industry needs to evolve, and I believe her insight will be highly valuable as we enter the era of AI enabled drug discovery and development.”

About Recursion
Recursion is a clinical stage TechBio company leading the space by decoding biology to industrialize drug discovery. Enabling its mission is the Recursion OS, a platform built across diverse technologies that continuously expands one of the world’s largest proprietary biological, chemical and patient-centric datasets. Recursion leverages sophisticated machine-learning algorithms to distill from its dataset a collection of trillions of searchable relationships across biology and chemistry unconstrained by human bias. By commanding massive experimental scale — up to millions of wet lab experiments weekly — and massive computational scale — owning and operating one of the most powerful supercomputers in the world, Recursion is uniting technology, biology, chemistry and patient-centric data to advance the future of medicine.

Recursion is headquartered in Salt Lake City, where it is a founding member of BioHive, the Utah life sciences industry collective. Recursion also has offices in Toronto, Montreal and the San Francisco Bay Area. Learn more at www.Recursion.com, or connect on X (formerly Twitter) and LinkedIn.

Media Contact
Media@Recursion.com

Investor Contact
Investor@Recursion.com

Forward-Looking Statements
This document contains information that includes or is based upon “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995, including, without limitation, all statements that are not historical facts. Forward-looking statements may or may not include identifying words such as “plan,” “will,” “expect,” “anticipate,” “intend,” “believe,” “potential,” “continue,” and similar terms. These statements are subject to known or unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements, including but not limited to: challenges inherent in pharmaceutical research and development, including the timing and results of preclinical and clinical programs, where the risk of failure is high and failure can occur at any stage prior to or after regulatory approval due to lack of sufficient efficacy, safety considerations, or other factors; our ability to leverage and enhance our drug discovery platform; our ability to obtain financing for development activities and other corporate purposes; the success of our collaboration activities; our ability to obtain regulatory approval of, and ultimately commercialize, drug candidates; our ability to obtain, maintain, and enforce intellectual property protections; cyberattacks or other disruptions to our technology systems; our ability to attract, motivate, and retain key employees and manage our growth; inflation and other macroeconomic issues; and other risks and uncertainties such as those described under the heading “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K. All forward-looking statements are based on management’s current estimates, projections, and assumptions, and Recursion undertakes no obligation to correct or update any such statements, whether as a result of new information, future developments, or otherwise, except to the extent required by applicable law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/21f011ab-bada-4c3e-a55f-d8eabecf35ad

GlobeNewswire Distribution ID 9090097

Dr. Khan, formerly the Chief Data Science Officer and Global Head of Strategy and Portfolio, Innovative Medicine R&D at Johnson & Johnson (J&J), will also join Recursion’s Board of Directors

“Najat brings a unique blend of leadership in biological, chemical, and medical sciences, data science, and business,” said Chris Gibson, Co-Founder and CEO of Recursion. “More importantly, she has a vision and passion for transforming drug discovery and development that complements ours and she has a strong sense of urgency to accelerate the industry’s future. We are excited to welcome her as a Recursionaut to drive our portfolio pipeline, as well as create commercial strategies as we continue to industrialize the creation of high impact medicines.”

Dr. Khan has deep expertise in the pharmaceutical and healthcare industry, spanning biological, chemical, and medical science, computational and data science, and general business leadership, with a focus on driving substantial patient and business value. As the Chief Data Science Officer and Global Head of Strategy and Portfolio Organization, for Innovative Medicine R&D at Johnson & Johnson, Najat played an integral role with the senior leadership team in building an industry-leading pipeline that delivered multiple transformational medicines. She has been a pioneer in driving the impact of data science/AI at scale while establishing a top-tier diverse data science team, underpinning her commitment to innovation and excellence at the intersection of healthcare and technology. Dr. Khan co-chaired Johnson & Johnson’s Data Science Council, where she has played a key leadership role in driving the adoption of data science across the company to achieve business impact and deploy best practices for data use, AI, ethics, as well talent recruitment and development.

“My mission and focus has been to harness the power of science, data, and AI to revolutionize the way we discover, develop, and deliver transformative medicines for patients”, said Dr. Khan, “This seamlessly aligns with Recursion’s goal to pioneer the burgeoning TechBio sector and decode biology and chemistry to radically improve lives. I believe their approach represents the future of our industry, and sets Recursion to be at the forefront to deliver on this vision. I’m thrilled to be part of Recursion’s board and leadership team, embarking on this vital mission together.”

Dr. Khan serves as a board member for Alliance for Artificial Intelligence in Healthcare and is a Steering Committee member of the White House’s Moonshot CancerX program to enhance outcomes for cancer patients. Najat is the founder and co-chair of the Data Science in Industry Roundtable (DISRUPT) – a cross industry forum dedicated to driving impact through Data Science. She is an alumna of University of Pennsylvania with a doctorate in Organic Chemistry leveraging experimental and computational approaches, has an undergraduate degree in Computational Chemistry and a minor in Business / Economics from Colgate University, and is published in various high-impact journals.

“We are pleased to welcome Najat to the board to guide the strategic vision of Recursion,” said Dean Li, Co-Founder and Board Member of Recursion and President, Merck Research Laboratories, “Najat shares our outlook on how the industry needs to evolve, and I believe her insight will be highly valuable as we enter the era of AI enabled drug discovery and development.”

About Recursion
Recursion is a clinical stage TechBio company leading the space by decoding biology to industrialize drug discovery. Enabling its mission is the Recursion OS, a platform built across diverse technologies that continuously expands one of the world’s largest proprietary biological, chemical and patient-centric datasets. Recursion leverages sophisticated machine-learning algorithms to distill from its dataset a collection of trillions of searchable relationships across biology and chemistry unconstrained by human bias. By commanding massive experimental scale — up to millions of wet lab experiments weekly — and massive computational scale — owning and operating one of the most powerful supercomputers in the world, Recursion is uniting technology, biology, chemistry and patient-centric data to advance the future of medicine.

Recursion is headquartered in Salt Lake City, where it is a founding member of BioHive, the Utah life sciences industry collective. Recursion also has offices in Toronto, Montreal and the San Francisco Bay Area. Learn more at www.Recursion.com, or connect on X (formerly Twitter) and LinkedIn.

Media Contact
Media@Recursion.com

Investor Contact
Investor@Recursion.com

Forward-Looking Statements
This document contains information that includes or is based upon “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995, including, without limitation, all statements that are not historical facts. Forward-looking statements may or may not include identifying words such as “plan,” “will,” “expect,” “anticipate,” “intend,” “believe,” “potential,” “continue,” and similar terms. These statements are subject to known or unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements, including but not limited to: challenges inherent in pharmaceutical research and development, including the timing and results of preclinical and clinical programs, where the risk of failure is high and failure can occur at any stage prior to or after regulatory approval due to lack of sufficient efficacy, safety considerations, or other factors; our ability to leverage and enhance our drug discovery platform; our ability to obtain financing for development activities and other corporate purposes; the success of our collaboration activities; our ability to obtain regulatory approval of, and ultimately commercialize, drug candidates; our ability to obtain, maintain, and enforce intellectual property protections; cyberattacks or other disruptions to our technology systems; our ability to attract, motivate, and retain key employees and manage our growth; inflation and other macroeconomic issues; and other risks and uncertainties such as those described under the heading “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K. All forward-looking statements are based on management’s current estimates, projections, and assumptions, and Recursion undertakes no obligation to correct or update any such statements, whether as a result of new information, future developments, or otherwise, except to the extent required by applicable law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/21f011ab-bada-4c3e-a55f-d8eabecf35ad

GlobeNewswire Distribution ID 9090097

New Lantronix solutions target the high-growth telematics market estimated to reach $3.7 Billion by 2027

IRVINE, Calif., April 16, 2024 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global provider of compute and connectivity IoT solutions, today launched its new FOX4 and Bolero 43 edge compute tracker telematic gateways. Designed for assets and fleet management, both products come pre-configured with Lantronix’s Percepxion IoT edge software platform, which provides secure, comprehensive IoT device provisioning and management. The two new products were showcased in the Lantronix booths at Embedded World 2024 (Hall 3, booth 356) held April 9–11, 2024, in Nuremberg, Germany, and ISC West 2024 (booth 7117) held April 10–12, 2024, in Las Vegas.

Ursula Hess, CEO of Quantum Aviation, a customer of Lantronix telematic products, said, “Utilizing Lantronix’s FOX Series Telematic Gateways, we are able to feed reliable, real-time data to our cloud-based software solution, which gives our aviation customers access to critical information for real-time visibility and actions as well as long-term analytics.”

According to Berg Insight, the global shipments of aftermarket telematic devices will grow at a CAGR of 10.5 percent in the next five years to reach 77.6 million units in 2027 for a total market value estimated to reach $3.7 billion by 2027. Lantronix’s innovative hardware and software effectively target this market, supporting these growth trends.

“Our new telematic devices provide a complete package that merges connectivity and cloud device management with award-winning hardware,” said Jacques Issa, VP of Marketing for Lantronix. “Lantronix is committed to innovation by introducing integrated hardware and software products where ease of use in customizing, on-boarding and provisioning remotely is paramount.”

The FOX4 Edge Compute Tracker

The latest upgrade in Lantronix’s FOX series, the FOX4 Edge Compute Tracker offers seamless integration of cellular and GNSS technologies, now enriched with BLE and Wi-Fi® connectivity, alongside advanced security features. FOX4 is engineered for versatility, and its design is optimal for a wide range of applications, from industrial complexes to urban landscapes. FOX 4 also offers the capability to support both internal and external antennas.

With robust support for PFAL scripting, LUA, MQTT, Azure and REST API, the FOX4 Series Trackers ensure that the user’s product can seamlessly communicate with virtually any telematics platform, reducing development time and accelerating the path to market.

The Bolero 43 Edge Compute Tracker

The Bolero 43 Edge Compute Tracker excels in asset and fleet management and Industrial IoT applications, such as manufacturing and automation. A derivative of the FOX4 series, the Bolero 43 integrates into the same ecosystem and uses the same programming languages. Designed for harsh environments, the Bolero 43 features an IP68 rating and a rugged design for durability. It is now globally available.

Both the FOX4 and Bolero 43 Edge Compute Trackers feature customization capabilities that are facilitated by the intuitive Workbench tool, enabling easy customizations from performance optimization to unique functionality integration.

Uninterrupted Uptime With Lantronix Connectivity Services SIM Card

FOX4 and Bolero 43 Series Telematic Gateways come preinstalled with Lantronix’s Connectivity Services SIM card that empowers users with a wide range of carrier options, allowing them to select the most suitable network provider, including industry leaders such as Verizon, AT&T and T-Mobile in North America as well as multiple carriers in the Europe and Asia Pacific regions.

Percepxion Service for Lantronix IoT Device Lifecycle Management

Delivered as a service, the Percepxion IoT edge software platform provides comprehensive device management through an intuitive single-pane-of-glass dashboard. Percepxion efficiently scales IoT edge deployments, including telematic gateways, from regional to global installations. This service will position Lantronix to target Annual Recurring Revenue (ARR) growth in the coming year.

Learn more about Percepxion and review its 60-day free trial offer here.

About Lantronix

Lantronix Inc. is a global provider of compute and connectivity IoT solutions that target high-growth industries including Smart Cities, Automotive and Enterprise. Lantronix’s products and services empower companies to achieve success in the growing IoT markets by delivering customizable solutions that address each layer of the IoT Stack. Lantronix’s leading-edge solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

For more information, visit the Lantronix website.

“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, as well as the FOX4, Bolero 43 and Percepxion, and expectations regarding our management and our future growth and profitability. 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; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; 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, 2023, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 12, 2023, including in the section entitled “Risk Factors” in Item 1A of Part I of such report; in our Quarterly Report on Form 10-Q for the fiscal quarter ended Dec. 31, 2023, filed with the SEC on Feb. 8, 2024, including in the section entitled “Risk Factors” in Item 1A of Part II 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.

© 2024 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

GlobeNewswire Distribution ID 9090099

New Lantronix solutions target the high-growth telematics market estimated to reach $3.7 Billion by 2027

IRVINE, Calif., April 16, 2024 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global provider of compute and connectivity IoT solutions, today launched its new FOX4 and Bolero 43 edge compute tracker telematic gateways. Designed for assets and fleet management, both products come pre-configured with Lantronix’s Percepxion IoT edge software platform, which provides secure, comprehensive IoT device provisioning and management. The two new products were showcased in the Lantronix booths at Embedded World 2024 (Hall 3, booth 356) held April 9–11, 2024, in Nuremberg, Germany, and ISC West 2024 (booth 7117) held April 10–12, 2024, in Las Vegas.

Ursula Hess, CEO of Quantum Aviation, a customer of Lantronix telematic products, said, “Utilizing Lantronix’s FOX Series Telematic Gateways, we are able to feed reliable, real-time data to our cloud-based software solution, which gives our aviation customers access to critical information for real-time visibility and actions as well as long-term analytics.”

According to Berg Insight, the global shipments of aftermarket telematic devices will grow at a CAGR of 10.5 percent in the next five years to reach 77.6 million units in 2027 for a total market value estimated to reach $3.7 billion by 2027. Lantronix’s innovative hardware and software effectively target this market, supporting these growth trends.

“Our new telematic devices provide a complete package that merges connectivity and cloud device management with award-winning hardware,” said Jacques Issa, VP of Marketing for Lantronix. “Lantronix is committed to innovation by introducing integrated hardware and software products where ease of use in customizing, on-boarding and provisioning remotely is paramount.”

The FOX4 Edge Compute Tracker

The latest upgrade in Lantronix’s FOX series, the FOX4 Edge Compute Tracker offers seamless integration of cellular and GNSS technologies, now enriched with BLE and Wi-Fi® connectivity, alongside advanced security features. FOX4 is engineered for versatility, and its design is optimal for a wide range of applications, from industrial complexes to urban landscapes. FOX 4 also offers the capability to support both internal and external antennas.

With robust support for PFAL scripting, LUA, MQTT, Azure and REST API, the FOX4 Series Trackers ensure that the user’s product can seamlessly communicate with virtually any telematics platform, reducing development time and accelerating the path to market.

The Bolero 43 Edge Compute Tracker

The Bolero 43 Edge Compute Tracker excels in asset and fleet management and Industrial IoT applications, such as manufacturing and automation. A derivative of the FOX4 series, the Bolero 43 integrates into the same ecosystem and uses the same programming languages. Designed for harsh environments, the Bolero 43 features an IP68 rating and a rugged design for durability. It is now globally available.

Both the FOX4 and Bolero 43 Edge Compute Trackers feature customization capabilities that are facilitated by the intuitive Workbench tool, enabling easy customizations from performance optimization to unique functionality integration.

Uninterrupted Uptime With Lantronix Connectivity Services SIM Card

FOX4 and Bolero 43 Series Telematic Gateways come preinstalled with Lantronix’s Connectivity Services SIM card that empowers users with a wide range of carrier options, allowing them to select the most suitable network provider, including industry leaders such as Verizon, AT&T and T-Mobile in North America as well as multiple carriers in the Europe and Asia Pacific regions.

Percepxion Service for Lantronix IoT Device Lifecycle Management

Delivered as a service, the Percepxion IoT edge software platform provides comprehensive device management through an intuitive single-pane-of-glass dashboard. Percepxion efficiently scales IoT edge deployments, including telematic gateways, from regional to global installations. This service will position Lantronix to target Annual Recurring Revenue (ARR) growth in the coming year.

Learn more about Percepxion and review its 60-day free trial offer here.

About Lantronix

Lantronix Inc. is a global provider of compute and connectivity IoT solutions that target high-growth industries including Smart Cities, Automotive and Enterprise. Lantronix’s products and services empower companies to achieve success in the growing IoT markets by delivering customizable solutions that address each layer of the IoT Stack. Lantronix’s leading-edge solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

For more information, visit the Lantronix website.

“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, as well as the FOX4, Bolero 43 and Percepxion, and expectations regarding our management and our future growth and profitability. 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; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; 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, 2023, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 12, 2023, including in the section entitled “Risk Factors” in Item 1A of Part I of such report; in our Quarterly Report on Form 10-Q for the fiscal quarter ended Dec. 31, 2023, filed with the SEC on Feb. 8, 2024, including in the section entitled “Risk Factors” in Item 1A of Part II 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.

© 2024 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

GlobeNewswire Distribution ID 9090099