创力 2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedSeptember 30, 2025 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________. Commission file number:1-16027 LANTRONIX, INC.(Exact name of registrant as specified in its charter) Delaware33-0362767(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 48 Discovery,Suite 250,Irvine,California(Address of principal executive offices) (949)453-3990(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Trading Symbol(s)LTRX Title of each className of each exchange on which registeredCommon Stock, $0.0001 par valueTheNasdaqStock Market LLC Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch reports), and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorterperiod that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☒Smaller reporting company☒ Large accelerated filer☐Non-accelerated filer☐Emerging Growth Company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act). Yes☐No☒ As of November 1, 2025, there were39,358,610shares of the registrant’s common stock outstanding. LANTRONIX, INC. FORM 10-QFOR THE QUARTERLY PERIOD ENDEDSEPTEMBER 30, 2025 INDEX CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS3PART I.FINANCIAL INFORMATION4Item 1.Financial Statements4Unaudited Condensed Consolidated Balance Sheets at September 30, 2025 and June 30, 20254Unaudited Condensed Consolidated Statements of Operations for the Three Months Ended September 30, 2025 and20245Unaudited Condensed Consolidated Statements of Stockholders’ Equity for the Three Months Ended September 30,2025 and 20246Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2025 and20247Notes to Unaudited Condensed Consolidated Financial Statements8Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations21Item 3.Quantitative and Qualitative Disclosures about Market Risk28Item 4.Controls and Procedures28PART II.OTHER INFORMATION29Item 1.Legal Proceedings29Item 1A.Risk Factors29Item 2.Unregistered Sales of Equity Securities and Use of Proceeds45Item 3.Defaults Upon Senior Securities45Item 4.Mine Safety Disclosures45Item 5.Other Information46Item 6.Exhibits46 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q for the three months ended September 30, 2025 (the “Report”) contains forward-lookingstatements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. Theseforward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities LitigationReform Act of 1995. All statements other than statements of historical fact included in this Report, or incorporated by reference intothis Report, are forward-looking statements. Throughout this Report, we have attempted to identify forward-looking statements byusing words such as “may,” “believe,” “will,” “could,” “project,” “anticipate,” “expect,” “estimate,” “should,” “continue,” “potential,”“plan,” “forecasts,” “goal,” “seek,” “intend,” other forms of these words or similar words or expressions or the negative thereof.Additionally, statements concerning future matters such as our expected earnings, revenues, expenses and financial condition, ourexpectations with respect to the development of new products, gross margin and other statements regarding matters that are nothistorical are forward-looking statements. We have based our forward-looking statements on management’s current expectations and projections about trends