Lantronix sees FY23 revenue $f $135M -$145M, consensus $159.34M

Lantronix is releasing preliminary revenue for its second quarter of fiscal 2023 and updating its fiscal 2023 revenue guidance to account for the delay in the pilot production and the updated production schedule from the contract. The company currently expects to report second quarter 2023 revenue between $31M and $32M. For fiscal year 2023, the company now expects revenue of $135M to $145M, up approximately 4% percent to 12% year over year. The updated guidance implies a return to growth in the second half of fiscal 2023, driven by backlog that remains near record levels and starting backlog that is higher than the prior quarter. Lantronix will release full financial details and discuss results for its second quarter fiscal 2023 as well as its expectations for the remainder of fiscal 2023 and 2024 on its upcoming earnings conference call.