$LTRX

LANTRONIX INC

CIK:0001114925|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net revenue	$ 120,899	$ 122,923
Cost of revenue	67,976	71,224
Gross profit	52,923	51,699
Operating expenses:
Selling, general and administrative	37,048	36,246
Research and development	17,554	18,597
Restructuring, severance and related charges	566	3,535
Acquisition-related costs	315	371
Amortization of intangible assets	1,561	3,951
Total operating expenses	57,044	62,700
Loss from operations	(4,121)	(11,001)
Interest income (expense), net	133	(511)
Other income (expense), net	86	(100)
Loss before income taxes	(3,902)	(11,612)
Provision for (benefit from) income taxes	279	(239)
Net loss and comprehensive loss	$ (4,181)	$ (11,373)
Net loss per share - basic	$ (0.10)	$ (0.29)
Net loss per share - diluted	$ (0.10)	$ (0.29)
Weighted-average common shares - basic	40,145	38,613
Weighted-average common shares - diluted	40,145	38,613

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net loss	$ (4,181)	$ (11,373)
Adjustments to reconcile net loss to net cash provided by operating activities:
Share-based compensation	6,270	6,132
Amortization of intangible assets	1,561	3,951
Depreciation and amortization	1,602	2,084
Amortization of manufacturing profit in acquired inventory associated with acquisitions	18	88
Loss on disposal of property and equipment	54	6
Amortization of deferred debt issuance costs	57	45
Gain on reversal of foreign currency translation	(27)	0
Changes in operating assets and liabilities, net of assets and liabilities acquired:
Accounts receivable, net	(225)	6,187
Inventories, net	549	2,036
Contract manufacturers’ receivable	(429)	(1,670)
Prepaid expenses and other current assets	414	(426)
Lease right-of-use assets	1,622	2,172
Other assets	(8)	(24)
Accounts payable	3,350	2,886
Accrued payroll and related expenses	1,349	(2,406)
Other liabilities	(2,099)	(2,403)
Net cash provided by operating activities	9,877	7,285
Investing activities
Purchases of property and equipment	(612)	(505)
Cash payment for acquisition	0	(6,458)
Net cash used in investing activities	(612)	(6,963)
Financing activities
Net proceeds from issuances of common stock	44,850	357
Tax withholding paid on behalf of employees for restricted shares	(1,693)	(2,093)
Borrowings on debt	8,800	0
Payments on debt	(20,734)	(4,512)
Payment of lease liabilities	(120)	(213)
Net cash provided by (used in) financing activities	31,103	(6,461)
Increase (decrease) in cash and cash equivalents	40,368	(6,139)
Cash and cash equivalents at beginning of year	20,098	26,237
Cash and cash equivalents at end of year	60,466	20,098
Supplemental disclosure of cash flow information
Interest paid	616	1,325
Income taxes paid	$ 259	$ 636

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Current Assets:
Cash and cash equivalents	$ 60,466	$ 20,098
Accounts receivable, net	25,317	25,092
Inventories, net	25,804	26,371
Contract manufacturers’ receivable	3,500	3,071
Prepaid expenses and other current assets	2,347	2,761
Total current assets	117,434	77,393
Property and equipment, net	1,453	2,456
Goodwill	31,089	31,089
Intangible assets, net	2,177	3,738
Lease right-of-use assets	7,428	8,422
Other assets	755	624
Total assets	160,336	123,722
Current Liabilities:
Accounts payable	16,971	13,259
Accrued payroll and related expenses	4,820	3,471
Current portion of long-term debt, net	0	3,070
Other current liabilities	10,284	10,622
Total current liabilities	32,075	30,422
Long-term debt, net	0	8,684
Other non-current liabilities	8,985	10,238
Total liabilities	41,060	49,344
Commitments and contingencies (Note 9)
Stockholders’ equity:
Preferred stock, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding	0	0
Common stock, $0.0001 par value; 100,000,000 shares authorized; 46,594,283 and 39,102,563 shares issued and outstanding at June 30, 2026 and 2025, respectively	5	4
Additional paid-in capital	357,502	308,397
Accumulated deficit	(238,575)	(234,394)
Accumulated other comprehensive income	344	371
Total stockholders’ equity	119,276	74,378
Total liabilities and stockholders’ equity	$ 160,336	$ 123,722