Lantronix, Inc. (NASDAQ:LTRX) Q3 2023 Results Conference Call May 10, 2023 5:00 PM ET

Company Participants

Rob Adams - Head, Corporate Development & IR

Paul Pickle - President, CEO

Jeremy Whitaker - CFO

Conference Call Participants

Mike Walkley - Canaccord Genuity

Jaeson Schmidt - Lake Street

Ryan Koontz - Needham

Scott Searle - Roth Capital

Operator

Good day, and welcome to the Lantronix Third Quarter Results Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Rob Adams. Please go ahead.

Rob Adams

Thank you. Good afternoon, everyone. Thank you for joining for the third quarter fiscal 2023 conference call. Joining us today are Paul Pickle, our President and Chief Executive Officer; and Jeremy Whitaker, our Chief Financial Officer. A live and archived webcast of today’s call will be available on the company’s website. In addition, you can find the call and details for the phone replay in today’s earnings release.

During this call, management may make forward-looking statements, which involve risks and uncertainties that could cause our results to differ materially from management’s current expectations. We encourage you to review the cautionary statements and risk factors contained in the earnings release, which was furnished to the SEC today and is available on our website and in the company’s SEC filings such as its 10-K and its 10-Qs. Lantronix undertakes no obligation to revise or update publicly any forward-looking statements to reflect future events or circumstances.

Please refer to the news release and the financial information in the Investor Relations section of our website for additional details that will supplement management’s commentary.

Furthermore, during the call, the company will discuss some non-GAAP financial measures. Today’s earnings release which is posted in the Investor Relations section of our website, describes the differences between our non-GAAP and GAAP reporting and presents reconciliations for the non-GAAP financial measures that we will use.

With that, I will now turn the call over to Jeremy Whitaker, Lantronix’ Chief Financial Officer.

Jeremy Whitaker

Thank you, Rob, and welcome to everyone joining us for this afternoon's call. I'm going to provide the financial results as well as some of the business highlights for our third quarter of fiscal 2023 before I hand it over to Paul for his commentary.

For the third quarter of fiscal 2023, we reported revenue of 33 million, up 5% sequentially and up 2% from the year ago period. GAAP gross margin improved to 44.4% for the third quarter of fiscal 2023 compared to 43.8% in the prior quarter, and 42.1% in the year ago quarter.