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Exhibit 99.1 LANTRONIX® Lantronix Reports Record Results for First Quarter of Fiscal 2022 Record First Quarter Net Revenue of $ 27.7 Million , up 62 % Year Over Year , 34 % Sequentially • First Quarter GAAP EPS totaled ( $ 0.08 ) per Share vs. ( $ 0.01 ) in the Prior Year . • First Quarter Non - GAAP EPS totaled $ 0.08 per Share vs. $ 0.05 in Prior Year . • Demand Strengthened , Driving Another Record Backlog Entering Q2 Fiscal 2022 Cash Balance Improved to $ 10.3 Million IRVINE , Calif . , Nov. 10 , 2021 - Lantronix , Inc. ( NASDAQ : LTRX ) , a global provider of secure turnkey solutions for Intelligent IT and Internet of Things ( IoT ) , today reported results for the first quarter of fiscal 2022 . Net revenue totaled $ 27.7 million , up 62 percent year - over - year and up 34 percent sequentially . GAAP EPS totaled ( $ 0.08 ) , compared to ( $ 0.01 ) in the prior year and ( $ 0.04 ) in the prior quarter . Non - GAAP EPS totaled $ 0.08 , compared to $ 0.05 in the prior year and $ 0.06 in the prior quarter . " Demand for Lantronix solutions strengthened again in our first quarter , and we entered the second quarter with record backlog in place , ” stated Paul Pickle , president and CEO of Lantronix . " The integration of our most recent acquisition is well underway , and we are growing organically at a double - digit rate . As we focus on execution in a difficult supply chain environment , we expect to deliver strong year - over - year results for our shareholders . " Business Outlook Demand strengthened during the company's fiscal first quarter , and the company currently believes that without supply chain constrains , it could post full - year revenue and non- GAAP EPS results above the high - end of the guidance range . However , taking the current supply chain dynamics into account , the company's more conservative expectations for the full year fiscal 2022 has improved to revenue growth of 54-75 percent with non - GAAP EPS growth of 95-135 percent . Conference Call and Webcast To account for the Securities and Exchange Commission holiday on Nov. 11 , Lantronix is releasing its first quarter of fiscal 2022 results today , Nov. 10 , 2021 . Lantronix will host an investor conference call and audio webcast , as previously planned , on Thursday , Nov. 11 , 2021 , at 2:00 p.m. Pacific Time ( 5:00 p.m. Eastern Time ) to discuss its results for the first quarter of fiscal 2022 that ended Sept. 30 , 2021. To access the live conference call , investors should dial 1-844-802-2442 ( US ) or 1-412-317-5135 ( international ) and indicate that they are participating in the Lantronix Q1 FY 2022 call . The webcast will be available simultaneously via the investor relations section of the Company's website at www.lantronix.com . Investors can access a replay of the conference call starting at approximately 5:00 p.m. Pacific Time on Thursday , Nov. 11 , 2021 , at www.lantronix.com A telephonic replay will also be available through Nov. 18 , 2021 , by dialing 1-877-344-7529 ( US ) or 1-412-317-0088 ( international ) and entering passcode 10161701 . LANTRONIX® About Lantronix Lantronix Inc. is a global provider of secure turnkey solutions for the Internet of Things ( IoT ) and Remote Environment Management ( REM ) , offering Software as a Service ( SaaS ) , connectivity services , engineering services and intelligent hardware . Lantronix enables its customers to accelerate time to market and increase operational up - time and efficiency by providing reliable , secure and connected Intelligent Edge IoT and Remote Management Gateway solutions . Lantronix's products and services dramatically simplify the creation , development , deployment and management of IoT and IT projects across Robotics , Automotive , Wearables , Video Conferencing , Industrial , Medical , Logistics , Smart Cities , Security , Retail , Branch Office , Server Room , and Datacenter applications . For more information , visit the Lantronix website . Learn more at the Lantronix blog , which features industry discussion and updates . Follow Lantronix on Twitter , view our YouTube video library or connect with us on LinkedIn . References in this Report to " fiscal 2021 " refer to the fiscal year ended June 30 , 2021 , and references to " fiscal 2022 ” refer to the fiscal year ending June 30 , 2022 . Discussion of Non - GAAP Financial Measures Lantronix believes that the presentation of non - GAAP financial information , when presented in conjunction with the corresponding GAAP measures , provides important supplemental information to management and investors regarding financial and business trends relating to the company's financial condition and results of operations . Management uses the aforementioned non - GAAP measures to monitor and evaluate ongoing operating results and trends to gain an understanding of our comparative operating performance . The non - GAAP financial measures disclosed by the company should not be considered a substitute for , or superior to , financial measures calculated in accordance with GAAP , and the financial results calculated in accordance with GAAP and reconciliations of the non - GAAP financial measures to the financial measures calculated in accordance with GAAP should be carefully evaluated . The non - GAAP financial measures used by the company may be calculated differently from , and therefore may not be comparable to , similarly titled measures used by other companies . The company has provided reconciliations of the non - GAAP financial measures to the most directly comparable GAAP financial measures . Non - GAAP net income consists of net loss excluding ( i ) share - based compensation and the employer portion of withholding taxes on stock grants , ( ii ) depreciation and