IRVINE, Calif., Sept. 22, 2026 (GLOBE NEWSWIRE) -- Lantronix Inc. (Nasdaq: LTRX), a global provider of Edge AI and Industrial IoT solutions that power NDAA-compliant unmanned systems, critical infrastructure and resilient enterprise networks, today announced that its Board of Directors has nominated Jason Lamb, a former U.S. Navy SEAL officer and defense technology executive, for election as an independent director at the company's 2026 Annual Meeting of Stockholders on Nov. 3, 2026.
As part of a planned Board refresh, Chair of the Board Hoshi Printer and Director Jim Auker will not stand for re-election and will conclude their Board service at the Annual Meeting of Stockholders in early November. Printer joined the Board in 2010 and has served as Chair of the Audit Committee since 2010 and as Chair of the Board since 2024. Auker joined the Board in 2025 and has served on the Audit Committee.
"It has been a privilege to serve Lantronix for 16 years and to help guide the company through a period of significant transformation," said Printer. "With a strong balance sheet, a clear strategy and growing opportunities across its key markets, I believe this is the right time for the next phase of Board leadership. I am confident in the Board and management team as they continue to execute the company's strategy."
"On behalf of the Board and our employees, I want to thank Hoshi and Jim for their service," said Saleel Awsare, President and CEO of Lantronix. "Hoshi's financial discipline and steady leadership helped position Lantronix with the balance sheet and focused strategy we have today, and Jim brought valuable M&A and corporate advisory perspective to our Audit Committee. We are grateful to them both."
"Jason's experience at the intersection of national security, autonomous systems and technology commercialization will be a valuable addition to our Board as we continue to scale our unmanned systems business. His background as a Navy SEAL officer, defense technology executive and public company CEO will bring a highly relevant perspective as we deepen our relationships with defense customers and accelerate the commercialization of our Edge AI solutions," Awsare concluded.
Lamb is chief executive officer of The LGL Group Inc. (NYSE American: LGL). He brings more than 20 years of leadership experience across special operations, intelligence, technology development and private equity investing. He serves on the Board of Directors of the Association for Uncrewed Vehicle Systems International (AUVSI), the world's largest organization devoted to advancing the uncrewed systems and robotics industry, and is a director of Alpha G Investment Management Inc. (formerly Teton Advisors Inc.). He previously served as a special advisor to LGL Systems Acquisition Corporation. Lamb also served as chief strategy officer of BlackSea Technologies, a private equity-backed platform focused on maritime defense technologies, following BlackSea's acquisition of Hard Yards, the company he founded. Earlier in his career, he served as an officer in the U.S. Navy SEAL teams.
Lamb holds an M.B.A. from the University of Virginia Darden School of Business, an M.S. in Management of Information Technology from the University of Virginia, an M.A. in National Security and Strategic Studies from the U.S. Naval War College and a B.S. in Political Science from the U.S. Naval Academy.
"Lantronix is well positioned at the intersection of Edge AI, autonomy and defense, with NDAA-compliant platforms already supporting mission-critical unmanned systems," said Lamb. "The company has the technology, customer relationships and growing program base to build a much larger business in this market. I look forward to working with the Board and management team to help accelerate that opportunity."
Lantronix's unmanned systems business generated $12.6 million in revenue in fiscal 2026 and is expected to represent 15% to 20% of total revenue in fiscal 2027. The company has more than 30 active engagements across defense, commercial and public safety applications, spanning drones, autonomy, imaging and other Edge AI applications. Publicly disclosed customers and partners include Teal Drones, a Red Cat Holdings Inc. (Nasdaq: RCAT) company; Sightline Intelligence; Swarmer Inc. (Nasdaq: SWMR); DoD Solution, a Ukrainian drone company; and AVT Australia, a CACI International Inc. (NYSE: CACI) company.
About Lantronix
Lantronix Inc. (Nasdaq: LTRX) is a global leader in Edge AI and Industrial IoT solutions that power NDAA-compliant unmanned systems, critical infrastructure and resilient enterprise networks. It delivers intelligent computing, secure connectivity and remote management for mission-critical applications, enabling customers to optimize operations, enhance security and accelerate digital transformation. Its comprehensive portfolio of hardware, software and services powers applications ranging from mission-critical autonomous platforms and edge analytics for critical infrastructure to intelligent surveillance and secure network management. By bringing intelligence to the network edge, Lantronix helps organizations achieve efficiency, security and a competitive edge in today's AI-driven world. For more information, visit the Lantronix website.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of federal securities laws, including, without limitation, statements concerning the composition of our Board of Directors following the 2026 Annual Meeting of Stockholders, the expected contribution of unmanned systems to our revenue in fiscal 2027, the continuation of existing customer programs, our expectations for revenue growth and Lantronix's positioning to capitalize on opportunities in the aerospace, defense and unmanned systems markets. 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 outcome of the stockholder vote at the 2026 Annual Meeting; 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 changes in U.S. or foreign government trade policies, including recently increased or future tariffs, a pandemic or other outbreaks, wars and recent conflicts in Europe, Asia and the Middle East or other factors; changes in U.S. and foreign government defense spending priorities and procurement; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws and regulations; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2026, filed with the Securities and Exchange Commission (the "SEC") on Aug. 27, 2026, including in the section entitled "Risk Factors" in Item 1A of Part I of that 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. In addition, actual results may differ as a result of additional risks and uncertainties about which we are currently unaware or which we do not currently view as material to our business. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements we make speak only as of the date on which they are made. We expressly disclaim any intent or obligation to update any forward-looking statements after the date hereof to conform such statements to actual results or to changes in our opinions or expectations, except as required by applicable law or the rules of the Nasdaq Stock Market LLC. If we do update or correct any forward-looking statements, investors should not conclude that we will make additional updates or corrections.
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LTRX@gateway-grp.com
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