Lantronix Inc. has reported its financial results for the fiscal year ending June 30, 2025. The company experienced a significant decline in net revenue, which decreased by $37.4 million, or 23.3%, compared to the previous fiscal year. This decline was driven by a 34.2% decrease in net revenue from its IoT System Solutions product line, along with a 1.2% decrease in the Embedded IoT Solutions product line and a 12.5% decrease in the Software and Services product line. The company reported a net loss of $11.4 million for fiscal 2025, compared to a net loss of $4.5 million for fiscal 2024. This increase in net loss was primarily attributed to the decreased revenues, which were partially offset by a reduction in operating expenses by $4.5 million compared to the previous year. In terms of regional performance, Lantronix noted a decrease in unit sales of network switches in the Americas and a decline in Out-of-Band (OOB) products across all regions, with revenues from these products being project-dependent. However, these decreases were slightly mitigated by increased sales of gateways, routers, and modems, largely driven by contributions from the Netcomm acquisition, and higher sales of telematic gateways in the Americas region. Additionally, the Software & Services segment saw a revenue decline due to lower engineering services revenue in the EMEA region as two large design services projects progressed from the design phase to full production in the prior year. There was also a moderate decrease in extended warranty services in the Americas, linked to lower service volumes in OOB products. The company did not provide specific guidance or outlook in the released report.