0001683168-18-003159.txt : 20181026 0001683168-18-003159.hdr.sgml : 20181026 20181026164405 ACCESSION NUMBER: 0001683168-18-003159 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 55 CONFORMED PERIOD OF REPORT: 20180930 FILED AS OF DATE: 20181026 DATE AS OF CHANGE: 20181026 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LANTRONIX INC CENTRAL INDEX KEY: 0001114925 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576] IRS NUMBER: 330362767 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-16027 FILM NUMBER: 181142083 BUSINESS ADDRESS: STREET 1: 7535 IRVINE CENTER DR., SUITE 100 CITY: IRVINE STATE: CA ZIP: 92618 BUSINESS PHONE: 9494533990 MAIL ADDRESS: STREET 1: 7535 IRVINE CENTER DR., SUITE 100 CITY: IRVINE STATE: CA ZIP: 92618 10-Q 1 lantronix_10q-093018.htm QUARTERLY REPORT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2018

o 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)

Delaware	33-0362767
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

7535 Irvine Center Drive, Suite 100, Irvine, California

(Address of principal executive offices)

92618

(Zip Code)

(949) 453-3990

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes o No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer o		Accelerated filer o
Non-accelerated filer o		Smaller reporting company x
Emerging Growth Company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act). Yes o No x

As of October 19, 2018, there were 21,997,843 shares of the registrant’s common stock outstanding.

LANTRONIX, INC.

FORM 10-Q

FOR THE QUARTERLY PERIOD ENDED

SEPTEMBER 30, 2018

INDEX

		Page

	CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS	3

PART I.	FINANCIAL INFORMATION	4

Item 1.	Financial Statements	4

	Unaudited Condensed Consolidated Balance Sheets at September 30, 2018 and June 30, 2018	4

	Unaudited Condensed Consolidated Statements of Operations for the Three Months Ended September 30, 2018 and 2017	5

	Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2018 and 2017	6

	Notes to Unaudited Condensed Consolidated Financial Statements	7

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	18

Item 3.	Quantitative and Qualitative Disclosures about Market Risk	24

Item 4.	Controls and Procedures	24

PART II.	OTHER INFORMATION	26

Item 1.	Legal Proceedings	26

Item 1A	Risk Factors	26

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	26

Item 3.	Defaults Upon Senior Securities	26

Item 4.	Mine Safety Disclosures	26

Item 5.	Other Information	26

Item 6.	Exhibits	28

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q for the three months ended September 30, 2018, or this Report, contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this Report, or incorporated by reference into this Report, are forward-looking statements. Throughout this Report, we have attempted to identify forward-looking statements by using 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. These forward-looking statements relate to, among other things:

predictions about our earnings, revenues, margins, expenses or other financial matters;

forecasts of our financial condition, results of operations, liquidity position, or working capital requirements;

	·	the impact of changes to our share-based awards and any related changes to our share-based compensation expenses;
	·	the impact of future offerings and sales of our debt or equity securities;

the impact of changes in our relationship with our customers;

plans or expectations with respect to our product development activities, business strategies or restructuring and expansion activities;

demand and growth of the market for our products or for the products of our competitors;

the impact of pending litigation, including outcomes of such litigation;

	·	the impact of our response to and implementation of recent accounting pronouncements and changes in tax laws on our consolidated financial statements and the related disclosures;
	·	unexpected changes in regulatory requirements, taxes, trade laws and tariffs;
	·	sufficiency of our internal controls and procedures;
	·	our ability to comply with certain financial obligations in our loan agreement;
	·	the success of our plans to realign and reallocate our resources; and

assumptions or estimates underlying any of the foregoing.

We have based our forward-looking statements on management’s current expectations and projections about trends affecting our business and industry and other future events. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this Report. Some of the risks and uncertainties that may cause actual results to differ from those expressed or implied in the forward-looking statements are described in “Risk Factors” included in Part II, Item 1A of this Report, in “Risk Factors” included in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended June 30, 2018, filed with the Securities and Exchange Commission, or the SEC, on August 23, 2018, or the Form 10-K, as well as in our other public filings with the SEC. In addition, actual results may differ as a result of additional risks and uncertainties of which we are currently unaware or which we do not currently view as material to our business.

You should read this Report in its entirety, together with the documents that we file as exhibits to this Report and the documents that we incorporate by reference into this Report, with the understanding that our future results may be materially different from what we currently expect. 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 Capital Market. If we do update or correct any forward-looking statements, investors should not conclude that we will make additional updates or corrections.

We qualify all of our forward-looking statements by these cautionary statements.

PART I. FINANCIAL INFORMATION

Item 1.

Financial Statements

LANTRONIX, INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

	September 30,			June 30,
	2018			2018
Assets
Current assets:
Cash and cash equivalents	$	18,925		$	9,568
Accounts receivable, net		5,917			4,244
Inventories, net		8,032			8,439
Contract manufacturers' receivable		554			649
Prepaid expenses and other current assets		794			370
Total current assets		34,222			23,270
Property and equipment, net		1,031			1,036
Goodwill		9,488			9,488
Other assets		57			61
Total assets	$	44,798		$	33,855

Liabilities and stockholders' equity
Current liabilities:
Accounts payable	$	3,986		$	3,942
Accrued payroll and related expenses		1,972			2,808
Warranty reserve		92			99
Other current liabilities		3,765			2,877
Total current liabilities		9,815			9,726
Other non-current liabilities		283			316
Total liabilities		10,098			10,042

Commitments and contingencies (Note 8)

Stockholders' equity:
Common stock		2			2
Additional paid-in capital		223,383			212,995
Accumulated deficit		(189,056	)		(189,555	)
Accumulated other comprehensive income		371			371
Total stockholders' equity		34,700			23,813
Total liabilities and stockholders' equity	$	44,798		$	33,855

See accompanying notes.

LANTRONIX, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

	Three Months Ended
	September 30,
	2018			2017
Net revenue	$	12,279		$	10,606
Cost of revenue		5,538			5,012
Gross profit		6,741			5,594
Operating expenses:
Selling, general and administrative		4,472			3,986
Research and development		2,298			2,221
Total operating expenses		6,770			6,207
Loss from operations		(29	)		(613	)
Interest expense, net		(4	)		(4	)
Other income (expense), net		(10	)		1
Loss before income taxes		(43	)		(616	)
Provision for income taxes		40			25
Net loss	$	(83	)	$	(641	)

Net loss per share - basic and diluted	$	(0.00	)	$	(0.04	)

Weighted-average common shares - basic and diluted		19,323			17,867

See accompanying notes.

LANTRONIX, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

	Three Months Ended
	September 30,
	2018			2017
Operating activities
Net loss	$	(83	)	$	(641	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Share-based compensation		478			272
Depreciation and amortization		105			117
Changes in operating assets and liabilities:
Accounts receivable		(496	)		745
Contract manufacturers' receivable		(55	)		(299	)
Inventories		95			132
Prepaid expenses and other current assets		(331	)		120
Other assets		1			(1	)
Accounts payable		11			783
Accrued payroll and related expenses		(836	)		(1,269	)
Warranty reserve		(7	)		4
Other liabilities		644			148
Net cash provided by (used in) operating activities		(474	)		111
Investing activities
Purchases of property and equipment		(64	)		(50	)
Net cash used in investing activities		(64	)		(50	)
Financing activities
Net proceeds from issuances of common stock		10,023			151
Tax withholding paid on behalf of employees for restricted shares		(113	)		(48	)
Payment of capital lease obligations		(15	)		(14	)
Net cash provided by financing activities		9,895			89
Increase in cash and cash equivalents		9,357			150
Cash and cash equivalents at beginning of period		9,568			8,073
Cash and cash equivalents at end of period	$	18,925		$	8,223

See accompanying notes.

LANTRONIX, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2018

1.	Summary of Significant Accounting Policies

The Company

Lantronix, Inc., which we refer to herein as the Company, Lantronix, we, our, or us, is a global provider of secure data access and management solutions for Internet of Things (“IoT”) assets. Our mission is to be the leading supplier of IoT and related Information Technology (“IT”) management solutions that enable companies to dramatically simplify the creation, deployment, and management of IoT projects while providing secure access to data for applications and people.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of Lantronix have been prepared in accordance with United States generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Securities and Exchange Commission (“SEC”) Regulation S-X. Accordingly, they should be read in conjunction with the audited consolidated financial statements and notes thereto for the fiscal year ended June 30, 2018, included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2018, which was filed with the SEC on August 23, 2018. The unaudited condensed consolidated financial statements contain all normal recurring accruals and adjustments that in the opinion of management, are necessary to present fairly the consolidated financial position of Lantronix at September 30, 2018, and the consolidated results of our operations and cash flows for the three months ended September 30, 2018. All intercompany accounts and transactions have been eliminated. Accounting measurements at interim dates inherently involve greater reliance on estimates than at year-end. The results of operations for the three months ended September 30, 2018 are not necessarily indicative of the results to be expected for the full year or any future interim periods.

Reclassifications

Certain reclassifications have been made to the prior fiscal year financial information to conform with the current fiscal year presentation.

Recent Accounting Pronouncements

Shared-Based Compensation

In June 2018, the Financial Accounting Standards Board (“FASB”) issued an accounting standard that expands the scope of existing share-based compensation guidance for employees. The new standard will include share-based payment transactions for acquiring goods and services from nonemployees, whereby share-based payments to nonemployees will be measured and recorded at the fair value of the equity instruments that an entity is obligated to issue on the grant date. Entities are required to adopt the standard using a modified retrospective approach with a cumulative adjustment to opening retained earnings in the year of adoption for the remeasurement of liability-classified awards that have not been settled by the date of adoption and equity-classified awards for which a measurement date has not been established. The standard will be effective for Lantronix in the fiscal year beginning July 1, 2019, with early adoption permitted. We are currently evaluating this guidance and currently do not anticipate that adoption will have a material impact on our consolidated financial statements.

Leases

In February 2016, FASB issued an accounting standard that revises lease accounting guidance. Most prominent among the changes in the standard is the recognition of right-of-use (“ROU”) assets and lease liabilities by lessees for those leases classified as operating leases under the existing guidance. The standard requires entities to recognize and measure leases existing at, or entered into after, the beginning of the earliest comparative period presented using a modified retrospective approach, with certain practical expedients available. In July 2018, FASB issued a practical expedient that would allow entities the option to apply the provisions of the new lease guidance at the effective date of adoption without adjusting the comparative periods presented.

The standard will be effective for Lantronix in the fiscal year beginning July 1, 2019, with early adoption permitted. While we are continuing to assess the potential impacts of this standard, we currently expect the most significant impact on our financial statements will be the recognition of ROU assets and lease liabilities for our operating leases. We have not yet determined which practical expedients we intend to utilize in connection with adopting the new standard, nor have we determined any quantitative impacts on our financial statements.

Revenue from Contracts with Customers

Refer to Note 2 below regarding our adoption of the new revenue standard under FASB’s Accounting Standards Codification 606: Revenue from Contract with Customers (“ASC 606”).

2.	Revenue Recognition

Nature of Net Revenue

Most of our net revenue is currently derived from sales of hardware products. We also derive a small portion of our net revenue from professional engineering services and extended warranty services. Extended warranty services generally extend the warranty period on our hardware products for an additional one to three years, depending upon the product.

In addition to the products and services described directly above, during the past year we have introduced a number of ready-to-use applications as well as software-as-a-service (“SaaS”) offerings for our IoT and IT Management product lines, including Lantronix Gateway Central, MACH10^® Global Device Manager, and ConsoleFlow^TM. These software offerings are in the early stages of evaluation and have not yet generated net revenue.

Net Revenue by Product Line and Geographic Region

We organize our products and solutions into three product lines: IoT, IT Management and Other. Our IoT products typically connect to one or more existing machines or are built into new industrial devices to provide network connectivity. Our IT Management product line includes console management, power management, and keyboard-video-mouse (commonly referred to as KVM) products that provide remote access to IT and networking infrastructure deployed in test labs, data centers, branch offices and server rooms. We categorize products that are non-focus or end-of-life as Other.

We conduct our business globally and manage our sales teams by three geographic regions: the Americas; Europe, Middle East, and Africa (“EMEA”); and Asia Pacific Japan.

The following tables present our net revenue by product line and by geographic region. Net revenues by geographic region are based on the “bill-to” location of our customers:

	Three Months Ended September 30,
	2018		2017
	(In thousands)
IoT	$	8,967	$	8,458
IT Management		3,101		1,789
Other		211		359
	$	12,279	$	10,606

	Three Months Ended September 30,
	2018		2017
	(In thousands)
Americas	$	6,914	$	5,697
EMEA		3,520		3,164
Asia Pacific Japan		1,845		1,745
	$	12,279	$	10,606

Revenue Recognition Policy and Significant Judgments

Revenue is recognized upon the transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. In accordance with ASC 606, we apply the following five-step approach in determining the amount and timing of revenue to be recognized: (i) identifying the contract with a customer, (ii) identifying the performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the performance obligations in the contract and (v) recognizing revenue when the performance obligation is satisfied.

On occasion, we enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of (i) any taxes collected from customers, which are subsequently remitted to governmental authorities and (ii) shipping and handling costs collected from customers.

Product Shipments

Most of our product revenue is recognized as a distinct single performance obligation when products are tendered to a carrier for delivery, which represents the point in time that our customer obtains control of the promised products. A smaller portion of our product revenue is recognized when our customer receives delivery of the promised products.

A significant portion of our products are sold to distributors under agreements which contain (i) limited rights to return unsold products and (ii) price adjustment provisions, both of which are accounted for as variable consideration when estimating the amount of revenue to recognize. We base our estimates for returns and price adjustments primarily on historical experience; however, we also consider contractual allowances, approved pricing adjustments and other known or anticipated returns and price adjustments in a given period. Such estimates are generally made at the time of shipment to the customer and updated at the end of each reporting period as additional information becomes available and only to the extent that it is probable that a significant reversal of any incremental revenue will not occur. Our estimates of accrued variable consideration are included in other current liabilities in the accompanying condensed consolidated balance sheet at September 30, 2018.

Services and Multiple Performance Obligations

Revenues from our extended warranty and services are generally recognized ratably over the applicable service period. Revenues from professional engineering services are generally recognized as services are performed. We expect revenues from future sales of our SaaS products to be recognized ratably over the applicable service period.

Contract Balances

In certain instances, the timing of revenue recognition may differ from the timing of invoicing to our customers. We record a contract asset receivable when revenue is recognized prior to invoicing, and a contract or deferred revenue liability when revenue is recognized subsequent to invoicing. With respect to product shipments, we expect to fulfill contract obligations within one year and so we have elected not to separately disclose the amount nor the timing of recognition of these remaining performance obligations. For contract balances related to contracts that include services and multiple performance obligations, refer to the deferred revenue discussion below. There were no unbilled contract asset receivable balances as of the transition date, July 1, 2018.

Payment terms and conditions vary by customer, but generally include a requirement of payment within 30 to 60 days from the invoice date. We do not consider this a significant period of time and have elected not to determine whether contracts with customers contain significant financing components. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services, not to provide financing to them.

Deferred Revenue

Deferred revenue is currently comprised primarily of unearned revenue related to our extended warranty services. These services are generally invoiced at the beginning of the contract period and revenue is recognized ratably over the service period. Current and non-current deferred revenue balances represent revenue allocated to the remaining unsatisfied performance obligations at the end of a reporting period and are respectively included in other current liabilities and other non-current liabilities in the accompanying condensed consolidated balance sheets.

The following table presents the changes in our deferred revenue balance for the three months ended September 30, 2018 (in thousands):

Balance, July 1, 2018	$	480
New performance obligations		37
Recognition of revenue as a result of satisfying performance obligations		(90	)
Balance, September 30, 2018	$	427
Less: non-current portion of deferred revenue		(166	)
Current portion, September 30, 2018	$	261

We expect to recognize substantially all of the non-current portion of deferred revenue over the next two to three years.

Costs to Obtain or Fulfill a Contract with a Customer

In accordance with applicable accounting guidance, we recognize an asset for the incremental costs of obtaining or fulfilling a contract with a customer if we expect the benefit of those costs to be longer than one year. We apply a practical expedient to expense costs as incurred for costs to obtain a contract when the amortization period would have been one year or less. These costs primarily relate to commissions earned and paid to our internal sales team and to certain external sale representatives, and are recorded in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations. As of September 30, 2018, we do not have any assets recorded pertaining to incremental costs to obtain or fulfill a contract with a customer.

Adoption of New Revenue Standard and Change in Accounting Policy

On July 1, 2018, we adopted ASC 606 using the modified retrospective method and applied it to contracts that were not completed as of that date. Upon adoption, we recorded a non-cash cumulative effect adjustment of $582,000 to our accumulated deficit as of July 1, 2018. The prior year comparative financial information has not been restated and continues to be presented under the accounting standards in effect for the respective periods.

The primary impact to Lantronix of adopting ASC 606 relates to a shift in the timing of when revenue is recognized for sales made to distributors under agreements which contain limited rights to return unsold products and price adjustment provisions. Under the revenue standards that we followed prior to adopting ASC 606, we concluded that the prices to these distributors were not fixed and determinable at the time we deliver products to them and accordingly, revenues from sales to these distributors, and the related inventory costs, were not recognized until the distributors resold the products. By contrast, upon adopting ASC 606, we now recognize revenue, including estimates for variable consideration, when we transfer control of the products to the distributor rather than deferring recognition until the distributor resells the products.

The following table summarizes the significant changes to our accompanying unaudited condensed consolidated balance sheet in connection with adopting ASC 606:

	Balance at			ASC 606 Adoption			Balance at
	June 30, 2018			Adjustments			July 1, 2018
	(In thousands)
Assets:
Accounts receivable, net	$	4,244		$	1,177		$	5,421
Inventories, net		8,439			(462	)		7,977
Prepaid expenses and other current assets		370			93			463

Liabilities and Shareholders' Equity
Other current liabilities	$	2,877		$	226		$	3,103
Accumulated deficit		(189,555	)		582			(188,973	)

The following tables summarize the significant impacts of adopting ASC 606 on our financial statements as of September 30, 2018 and for the three months ended September 30, 2018:

Condensed Consolidated Balance Sheet

	September 30, 2018
	As Reported			Impact of Adoption			Balances Without Adoption of ASC 606
	(In thousands)
Assets:
Accounts receivable, net	$	5,917		$	(2,818	)	$	3,099
Inventories, net		8,032			1,281			9,313
Prepaid expenses and other current assets		794			(191	)		603

Liabilities and Shareholders' Equity
Other current liabilities	$	3,765			(241	)		3,524
Accumulated deficit		(189,056	)		(1,488	)	$	(190,544	)

Accounts receivable, net and inventories, net, as reported at September 30, 2018, differ from the balances that would have been recorded without the adoption of ASC 606 since we no longer record deferred revenue and inventory balances for products held at certain distributor customers awaiting sell-through. Additionally, under ASC 606 we record contract assets and contract liabilities as estimates for variable consideration, which are recorded to prepaid expenses and other current assets and other current liabilities, respectively. The accumulated deficit balance, as reported, differs from the balance without the adoption of ASC 606 as a result of the adjustments discussed above.

Condensed Consolidated Statement of Operations

	Three months ended September 30, 2018
	As Reported			Impact of Adoption			Amounts Without Adoption of ASC 606
	(In thousands, except per share amounts)
Net revenue	$	12,279		$	(1,628	)	$	10,651
Cost of revenue		5,538			(721	)		4,817
Selling, general and administrative		4,472			(2	)		4,470
Net loss		(83	)		(906	)		(989	)
Net loss per share - basic and diluted	$	(0.00	)	$	(0.05	)	$	(0.05	)

Net revenue, as reported, for the three months ended September 30, 2018 differs from the recalculated net revenue without the adoption of ASC 606 due to the difference in timing of when we recognize revenue for sales to certain distributor customers, as further described above. More specifically, as of the prior quarter ended June 30, 2018, inventories held by our distributor customers were at historically low levels. During the quarter ended September 30, 2018, our distributor customers increased their purchases and brought their inventories up to levels that were more consistent with what they have held historically. This had the impact of lower sell-through net revenues as recalculated without the effect of adopting ASC 606. Likewise, the differences in cost of revenue, net loss and net loss per share in the table directly above are primarily attributable to the difference in net revenue.

3.	Supplemental Financial Information

Inventories

Inventories are stated at the lower of cost (first-in, first-out) or net realizable value and consist of the following:

	September 30,		June 30,
	2018		2018
	(In thousands)
Finished goods	$	4,494	$	5,892
Raw materials		3,538		2,547
Inventories, net	$	8,032	$	8,439

Other Liabilities

The following table presents details of our other liabilities:

	September 30,		June 30,
	2018		2018
	(In thousands)
Current
Accrued variable consideration	$	1,167	$	–
Customer deposits and refunds		310		916
Accrued raw materials purchases		618		460
Deferred revenue		261		305
Capital lease obligations		42		55
Taxes payable		305		296
Accrued operating expenses		1,062		845
Total other current liabilities	$	3,765	$	2,877

Non-current
Deferred rent	$	115	$	137
Deferred revenue		166		175
Capital lease obligations		2		4
Total other non-current liabilities	$	283	$	316

Computation of Net Loss per Share

Basic and diluted net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the applicable period.

The following table presents the computation of net loss per share:

	Three Months Ended
	September 30,
	2018			2017
	(In thousands, except per share data)
Numerator:
Net loss	$	(83	)	$	(641	)
Denominator:
Weighted-average common shares outstanding - basic and diluted		19,323			17,867

Net loss per share - basic and diluted	$	(0.00	)	$	(0.04	)

The following table presents the common stock equivalents excluded from the diluted net loss per share calculation, because they were anti-dilutive for the periods presented. These excluded common stock equivalents could be dilutive in the future.

	Three Months Ended
	September 30,
	2018		2017
	(In thousands)
Common stock equivalents		1,828		1,700

Severance and Related Charges

Current Fiscal Year

During the three months ended September 30, 2018, we initiated a plan to realign certain personnel resources to better fit our current business needs. These activities were substantially completed by September 30, 2018 and resulted in a total charge of approximately $460,000, which included $323,000 in severance-related costs and $137,000 in share-based compensation expense. These costs are included in the applicable functional line items within the accompanying unaudited condensed consolidated statements of operations for the three months ended September 30, 2018.

The following table presents details of the liability we recorded related to these activities:

	Three Months Ended
	September 30,
	2018
	(In thousands)
Beginning balance	$	–
Charges		323
Payments		(113	)
Ending balance	$	210

The ending balance is recorded in accrued payroll and related expenses on the accompanying unaudited condensed consolidated balance sheet at September 30, 2018.

Prior Fiscal Year

During the three months ended September 30, 2017, we realigned certain personnel resources throughout our organization, primarily to optimize our operations and engineering efforts. These activities resulted in total charges of approximately $527,000 and consisted primarily of severance costs, and to a lesser extent, termination costs related to our facility lease in Hong Kong. These charges are included in the applicable functional line items within the accompanying unaudited condensed consolidated statement of operations for the three months ended September 30, 2017.

Supplemental Cash Flow Information

The following table presents non-cash investing transactions excluded from the accompanying unaudited condensed consolidated statements of cash flows:

	Three Months Ended
	September 30,
	2018		2017
	(In thousands)
Accrued property and equipment paid for in the subsequent period	$	33	$	–

4.	Warranty Reserve

The standard warranty periods we provide for our products typically range from one to five years. We establish reserves for estimated product warranty costs at the time revenue is recognized based upon our historical warranty experience, and for any known or anticipated product warranty issues.

The following table presents details of our warranty reserve:

	Three Months Ended			Year Ended
	September 30,			June 30,
	2018			2018
	(In thousands)
Beginning balance	$	99		$	125
Charged to cost of revenue		4			168
Usage		(11	)		(194	)
Ending balance	$	92		$	99

5.	Bank Line of Credit

In October 2018, we entered into a new Loan and Security Agreement (the “Loan Agreement”) with Silicon Valley Bank (“SVB”), as our previous agreement expired at the end of September 2018. The Loan Agreement provides us with a $4.0 million revolving line of credit based on qualified accounts receivable and has a maturity date of September 30, 2020. There were no outstanding borrowings as of September 30, 2018 or June 30, 2018.

The Loan Agreement provides for an interest rate per annum equal to the greater of (i) the prime rate plus 0.50% or (ii) 5.00%, provided that we maintain a monthly quick ratio of 1.0 to 1.0 or greater. The quick ratio measures our ability to use our cash and cash equivalents maintained at SVB to extinguish or retire our current liabilities immediately. If this ratio is not met, the interest rate will become the greater of (i) the prime rate plus 1.00% or (ii) 5.00%. At September 30, 2018, we met the quick ratio requirement.

The Loan Agreement also includes a covenant requiring us to maintain a certain Minimum Tangible Net Worth (“Minimum TNW”), currently required to be $7,000,000. The Minimum TNW is subject to adjustment upward to the extent we raise additional equity or debt financing or achieve net income in future periods. Our Actual Tangible Net Worth (“Actual TNW”) is calculated as total stockholders’ equity, less goodwill. At September 30, 2018, our Actual TNW was $25,212,000.

6.	Stockholders’ Equity

Public Offering

On September 18, 2018, we entered into an underwriting agreement with Needham & Company, LLC and Lake Street Capital Markets, LLC (the “Underwriters”) relating to the offer and sale of 2,500,000 shares of our common stock, par value $0.0001 per share, to the public at a price of $4.00 per share. We also granted the Underwriters a 30-day option to purchase up to 375,000 additional shares of our common stock to cover over-allotments, if any. Pursuant to the underwriting agreement, through September 30, 2018 we had sold an aggregate of 2,600,000 shares to the Underwriters and received proceeds net of underwriting discounts and expenses of approximately $9,438,000.

On October 19, 2018, we sold an additional 100,000 shares to the public at a price of $4.00 per share and received proceeds net of underwriting discounts and expenses of approximately $366,000.

Stock Incentive Plans

Our stock incentive plans permit the granting of stock options (both incentive and nonqualified stock options), restricted stock units (“RSUs”), stock appreciation rights, non-vested stock, and performance shares to certain employees, directors and consultants. As of September 30, 2018, no stock appreciation rights, non-vested stock, or performance shares were outstanding.

Stock Options

The following table presents a summary of activity during the three months ended September 30, 2018 with respect to our stock options:

				Weighted-
				Average
	Number of			Exercise Price
	Shares			per Share
	(In thousands)
Balance of options outstanding at June 30, 2018		3,931		$	1.73
Granted		20			3.60
Forfeited		(79	)		1.85
Expired		(3	)		1.63
Exercised		(393	)		1.79
Balance of options outstanding at September 30, 2018		3,476		$	1.73

Restricted Stock Units

The following table presents a summary of activity during the three months ended September 30, 2018 with respect to our RSUs:

				Weighted-
				Average
				Grant Date
	Number of			Fair Value
	Shares			per Share
		(In thousands)
Balance of RSUs outstanding at June 30, 2018		140		$	1.51
Granted		598			5.25
Vested		(44	)		1.23
Forfeited		(11	)		1.37
Balance of RSUs outstanding at September 30, 2018		683		$	4.80

Employee Stock Purchase Plan

Our 2013 Employee Stock Purchase Plan (“ESPP”) is intended to provide employees with an opportunity to purchase our common stock through accumulated payroll deductions at the end of a specified purchase period. Each of our employees (including officers) is eligible to participate in our ESPP, subject to certain limitations as set forth in our ESPP.

The following table presents a summary of activity under our ESPP during the three months ended September 30, 2018:

	Number of
	Shares
	(In thousands)
Shares available for issuance at June 30, 2018		148
Shares issued		–
Shares available for issuance at September 30, 2018		148

Share-Based Compensation Expense

The following table presents a summary of share-based compensation expense included in each functional line item on our accompanying unaudited condensed consolidated statements of operations:

	Three Months Ended
	September 30,
	2018		2017
	(In thousands)
Cost of revenue	$	17	$	13
Selling, general and administrative		400		212
Research and development		61		47
Total share-based compensation expense	$	478	$	272

The following table presents the remaining unrecognized share-based compensation expense related to our outstanding share-based awards as of September 30, 2018:

	Remaining		Remaining
	Unrecognized		Weighted-
	Compensation		Average Years
	Expense		To Recognize
	(In thousands)
Stock options	$	1,337		2.3
RSUs		3,157		3.6
Stock purchase rights under ESPP		190		1.3
	$	4,684

If there are any modifications or cancellations of the underlying unvested share-based awards, we may be required to accelerate, increase or cancel remaining unearned share-based compensation expense. Future share-based compensation expense and unearned share-based compensation will increase to the extent that we grant additional share-based awards.

7.	Income Taxes

We utilize the liability method of accounting for income taxes. The following table presents our effective tax rates based upon our provision for income taxes for the periods shown:

	Three Months Ended
	September 30,
	2018		2017
Effective tax rate		93%		4%

The difference between our effective tax rates in the periods presented above and the federal statutory rate is primarily due to a tax benefit from our domestic losses being recorded with a full valuation allowance, as well as the effect of foreign earnings taxed at rates differing from the federal statutory rate.

We record net deferred tax assets to the extent we believe it is more likely than not that these assets will be realized. Due to our cumulative losses and uncertainty of generating future taxable income, we have provided a full valuation allowance against our net deferred tax assets as of September 30, 2018 and June 30, 2018.

8.	Commitments and Contingencies

From time to time, we are involved in various legal proceedings and claims arising in the ordinary course of our business. Although the results of legal proceedings and claims cannot be predicted with certainty, we currently believe that the final outcome of these ordinary course matters will not, individually or in the aggregate, have a material adverse effect on our business, operating results, financial condition or cash flows. However, regardless of the outcome, litigation can have an adverse impact on us because of legal costs, diversion of management time and resources, and other factors.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read together with our unaudited condensed consolidated financial statements and the related notes included in Part I, Item 1 of this Quarterly Report on Form 10-Q for the three months ended September 30, 2018, or this Report. This discussion and analysis contains forward-looking statements that are based on our current expectations and reflect our plans, estimates and anticipated future financial performance. See the section of this Report entitled “Cautionary Note Regarding Forward-Looking Statements” for additional information. These statements involve numerous risks and uncertainties. Our actual results may differ materially from those expressed or implied by these forward-looking statements as a result of many factors, including those set forth in “Risk Factors” in Part II, Item 1A of this Report.

Overview

Lantronix, Inc., which we refer to herein as the Company, Lantronix, we, our, or us, is a global provider of secure data access and management solutions for Internet of Things, or IoT, assets. Our mission is to be the leading supplier of IoT and related Information Technology, or IT, management solutions that enable companies to simplify the creation, deployment, and management of IoT projects while providing secure access to data for applications and people.

We conduct our business globally and manage our sales teams by three geographic regions: the Americas; Europe, Middle East, and Africa, or EMEA; and Asia Pacific Japan, or APJ.

Products and Solutions Overview

We organize our products and solutions into three product lines: IoT, IT Management and Other.

IoT

Our IoT products typically connect to one or more existing machines, or are built into new industrial devices to provide network connectivity. Our products are designed to enhance the value and utility of machines by making the data from the machines available to users, systems and processes or by controlling their properties and features over the network.

Our IoT products currently consist of IoT Gateways and IoT Building Blocks. IoT Gateways are designed to provide secure connectivity and the ability to add integrated device management and advanced data access features. IoT Building Blocks provide basic secure machine connectivity and unmanaged data access.

Our IoT products may be embedded into new designs or attached to existing machines. Our IoT products include wired and wireless connections that enhance the value and utility of modern electronic systems and equipment by providing secure network connectivity, application hosting, protocol conversion, secure access for distributed IoT deployments and many other functions. Many of the products are offered with software tools intended to further accelerate our customer’s time-to-market and increase their value add.

Most of our IoT products are pre-certified in a number of countries thereby significantly reducing our original equipment manufacturer customers’ regulatory certification costs and accelerating their time to market.

The following product families are included in our IoT product line: EDS, EDS-MD, PremierWave^® EN, PremierWave^® XC, SGX^™, UDS, WiPort^®, xDirect^®, xPico^®, xPico^®Wi-Fi, xPress^™, XPort^®, XPort^® Pro, MACH10^® Global Device Manager and Lantronix Gateway Central.

IT Management

Today, organizations are managing an ever-increasing number of devices and data on enterprise networks where 24/7 reliability is mission critical. Out-of-band management is a technique that uses a dedicated management network to access critical network devices to ensure management connectivity (including the ability to determine the status of any network component) independent of the status of other in-band network components. Remote out-of-band access allows organizations to effectively manage their enterprise IT resources and at the same time, optimize their IT support resources. Our vSLM™, a virtualized central management software solution, simplifies secure administration of our IT management products and the equipment attached to them through a standard web browser.

Our IT Management product line includes console management, power management, and keyboard-video-mouse (commonly referred to as KVM) products that provide remote access to IT and networking infrastructure deployed in test labs, data centers, branch offices and server rooms.

The following product families are included in our IT Management product line: SLB^™, SLC^™ 8000, Spider^™, ConsoleFlow and vSLM™.

Other

We categorize products that are non-focus or end-of-life as Other. Our Other product line includes non-focus products such as the xPrintServer^®. In addition, this product line includes end-of-life versions of our MatchPort^®, SLC^™, SLP^™, xPress Pro, xSenso^®, PremierWave^®XN, and WiBox product families.

Recent Accounting Pronouncements

Refer to Note 1 of Notes to Unaudited Condensed Consolidated Financial Statements, included in Part I, Item 1 of this Report, which is incorporated herein by reference, for a discussion of recent accounting pronouncements.

Critical Accounting Policies and Estimates

The accounting policies that have the greatest impact on our financial condition and results of operations and that require the most judgment are those relating to revenue recognition, allowance for doubtful accounts, inventory valuation, warranty reserves, valuation of deferred income taxes, and goodwill. These policies are described in further detail in the Form 10-K. The following discussion of our critical accounting policy over revenue recognition has been updated as a result of our adoption of the new revenue standard effective July 1, 2018 (refer to Note 2 in Part I, Item 1 of this Report for further discussion). The prior year comparative financial information has not been restated and continues to be presented under the accounting standards in effect for the respective periods. There have been no other significant changes in our critical accounting policies and estimates during the three months ended September 30, 2018 as compared to what was previously disclosed in the Form 10-K.

Revenue Recognition

Revenue is recognized upon the transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We apply the following five-step approach in determining the amount and timing of revenue to be recognized: (i) identifying the contract with a customer, (ii) identifying the performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the performance obligations in the contract and (v) recognizing revenue when the performance obligation is satisfied.

A significant portion of our products are sold to distributors under agreements which contain (i) limited rights to return unsold products and (ii) price adjustment provisions, both of which are accounted for as variable consideration when estimating the amount of revenue to recognize. Establishing accruals for product returns and pricing adjustments requires the use of judgment and estimates that impact the amount and timing of revenue recognition. When product revenue is recognized, we establish an estimated allowance for future product returns based primarily on historical returns experience and other known or anticipated returns. We also record reductions of revenue for pricing adjustments, such as competitive pricing programs and rebates, in the same period that the related revenue is recognized, based primarily on approved pricing adjustments and our historical experience. Actual product returns or pricing adjustments that differ from our estimates could result in increases or decreases to our net revenue.

From time to time, we may enter into contracts with customers that include promises to transfer multiple deliverables that may include sales of products, professional engineering services and other product qualification or certification services. Determining whether the deliverables in such arrangements are considered distinct performance obligations that should be accounted for separately versus together often requires judgment. We consider performance obligations to be distinct when the customer can benefit from the promised good or service on its own or by combining it with other resources readily available and when the promised good or service is separately identifiable from other promised goods or services in the contract. In such arrangements, we allocate revenue on a relative standalone selling price basis by maximizing the use of observable inputs to determine the standalone selling price for each performance obligation. Additionally, estimating standalone selling prices for separate performance obligations within a contract may require significant judgment and consideration of various factors including market conditions, items contemplated during negotiation of customer arrangements and internally-developed pricing models. Changes to performance obligations that we identify, or the estimated selling prices pertaining to a contract, could materially impact the amounts of earned and unearned revenue that we record.

Results of Operations – Three Months Ended September 30, 2018 Compared to the Three Months Ended September 30, 2017

Summary

In the three months ended September 30, 2018 our net revenue increased by $1,673,000, or 15.8%, compared to the three months ended September 30, 2017. The increase in net revenue was driven by a 73.3% increase in net revenue in our IT Management product line and a 6.0% increase in net revenue in our IoT product line, which were partially offset by a decline in our Other product line. We had a net loss of $83,000 for the three months ended September 30, 2018 compared to a net loss of $641,000 for the three months ended September 30, 2017. The decrease in net loss was driven by a 20.5% increase in gross profit offset by a 9.1% increase in operating expenses.

Net Revenue

The following tables present our fiscal quarter net revenue by product line and by geographic region:

	Three Months Ended September 30,
			% of Net				% of Net		Change
	2018		Revenue		2017		Revenue		$			%
	(In thousands, except percentages)
IoT	$	8,967		73.0%	$	8,458		79.7%	$	509			6.0%
IT Management		3,101		25.3%		1,789		16.9%		1,312			73.3%
Other		211		1.7%		359		3.4%		(148	)		(41.2%	)
	$	12,279		100.0%	$	10,606		100.0%	$	1,673			15.8%

	Three Months Ended September 30,
			% of Net				% of Net		Change
	2018		Revenue		2017		Revenue		$		%
	(In thousands, except percentages)
Americas	$	6,914		56.3%	$	5,697		53.7%	$	1,217		21.4%
EMEA		3,520		28.7%	$	3,164		29.8%		356		11.3%
Asia Pacific Japan		1,845		15.0%	$	1,745		16.5%		100		5.7%
	$	12,279		100.0%	$	10,606		100.0%	$	1,673		15.8%

IoT

Net revenue from our IoT product line for the three months ended September 30, 2018 increased compared to the three months ended September 30, 2017 due to increases in unit sales in a variety of our product families including (i) our large scale integration chips in our EMEA region, (ii) XPort Pro and xDirect in our Americas region and (iii) our wired MatchPort products, in both the Americas and EMEA regions. The overall increase was partially offset by decreases in unit sales of our UDS and EDS product families, largely in the Americas region, and to a lesser extent, the EMEA region. We also experienced lower sales of our EDS-MD product family in the EMEA region.

IT Management

Net revenue from our IT Management product line for the three months ended September 30, 2018 increased compared to the three months ended September 30, 2017 due to increased unit sales of (i) our SLC 8000 product family across all three of our regions and (ii) our SLB product family, mostly in the Americas region. In the prior year quarter, we saw weaker demand for both of these product families partially driven by the timing of anticipated orders from certain large customers.

Other

Net revenue from our Other products, which are comprised of non-focus and end-of-life product families, continues to decline as expected.

Gross Profit

Gross profit represents net revenue less cost of revenue. Cost of revenue consists primarily of the cost of raw material components, subcontract labor assembly from contract manufacturers, manufacturing overhead, inventory reserves for excess and obsolete products or raw materials, warranty costs, royalties and share-based compensation.

The following table presents our fiscal quarter gross profit:

	Three Months Ended September 30,
			% of Net				% of Net		Change
	2018		Revenue		2017		Revenue		$		%
	(In thousands, except percentages)
Gross profit	$	6,741		54.9%	$	5,594		52.7%	$	1,147		20.5%

Gross profit as a percent of revenue (referred to as “gross margin”) for the three months ended September 30, 2018 improved compared to the three months ended September 30, 2017 due primarily to lower charges for scrap and excess and obsolete inventories during the current quarter. During September 2018, the U.S. government expanded the list of products with tariffs imposed on Chinese goods imported into the U.S., which effectively covers the type of products that we sell. While we have a plan to substantially mitigate our financial exposure to the tariffs, we expect to incur increased tariff costs of approximately $100,000 to $200,000 in the fiscal quarter ending December 31, 2018.

Cost of revenue for the three months ended September 30, 2018 and 2017, includes $39,000 and $58,000, respectively, of severance and related charges.

Selling, General and Administrative

Selling, general and administrative expenses consist of personnel-related expenses, including salaries and commissions, share-based compensation, facility expenses, information technology, trade show expenses, advertising, and legal and accounting fees.

The following table presents our fiscal quarter selling, general and administrative expenses:

	Three Months Ended September 30,
			% of Net				% of Net		Change
	2018		Revenue		2017		Revenue		$			%
	(In thousands, except percentages)
Personnel-related expenses	$	2,934			$	2,736			$	198			7.2%
Severance and related charges		201				155				46			29.7%
Professional fees and outside services		371				318				53			16.7%
Advertising and marketing		145				178				(33	)		(18.5%	)
Facilities and insurance		256				265				(9	)		(3.4%	)
Share-based compensation		400				212				188			88.7%
Depreciation		46				45				1			2.2%
Other		119				77				42			54.5%
Selling, general and administrative	$	4,472		36.4%	$	3,986		37.6%	$	486			12.2%

Selling, general and administrative expenses increased primarily due to (i) higher headcount-related expenses, as we have added personnel to our sales and marketing teams over the past year and (ii) higher share-based compensation expenses resulting from the current quarter’s severance actions, along with stock awards in the current quarter granted with a higher estimated fair value than historical stock awards.

During the three months ended September 30, 2018, we realigned certain personnel resources to better fit our current business needs. These activities resulted in total charges of approximately (i) $323,000 in severance-related costs and (ii) $137,000 in share-based compensation expense. Of the total charges of $460,000, approximately, $201,000 of severance-related costs and $137,000 of share-based compensation were classified within selling, general and administrative expenses.

During the three months ended September 30, 2017, we realigned certain personnel resources throughout our organization, primarily to optimize our operations and engineering efforts. These activities resulted in total net charges of approximately $527,000, which consisted primarily of severance costs, and to a lesser extent, termination costs related to our facility lease in Hong Kong. Of the total charges, approximately $155,000 was classified within selling, general and administrative expenses.

Research and Development

Research and development expenses consist of personnel-related expenses, including share-based compensation, as well as expenditures to third-party vendors for research and development activities and product certification costs. Our quarterly costs related to outside services and product certifications vary from period to period depending on our level of development activities.

The following table presents our fiscal quarter research and development expenses:

	Three Months Ended September 30,
			% of Net				% of Net		Change
	2018		Revenue		2017		Revenue		$			%
	(In thousands, except percentages)
Personnel-related expenses	$	1,666			$	1,449			$	217			15.0%
Severance and related charges		83				314				(231	)		(73.6%	)
Facilities		219				202				17			8.4%
Outside services		142				65				77			118.5%
Product certifications		54				108				(54	)		(50.0%	)
Share-based compensation		61				47				14			29.8%
Other		73				36				37			102.8%
Research and development	$	2,298		18.7%	$	2,221		20.9%	$	77			3.5%

Research and development expenses increased primarily due to higher (i) headcount-related expenses, as we have added engineering personnel over the past year and (ii) outside service costs related to new product development projects. The overall increase was partially offset by the decrease in severance and related charges, which are further described above.

Provision for Income Taxes

Refer to Note 7 of Notes to Unaudited Condensed Consolidated Financial Statements, included in Part I, Item 1 of this Report, which is incorporated herein by reference, for a discussion regarding our provision for income taxes.

Liquidity and Capital Resources

Liquidity

The following table presents details of our working capital and cash and cash equivalents:

	September 30,		June 30,
	2018		2018		Change
	(In thousands)
Working capital	$	24,407	$	13,544	$	10,863
Cash and cash equivalents	$	18,925	$	9,568	$	9,357

In September 2018, we sold 2,600,000 shares of our common stock in a public offering. We received net cash proceeds from the offering of approximately $9,438,000. In October 2018, we sold an additional 100,000 shares and received net cash proceeds of approximately $366,000.

Our principal sources of cash and liquidity include our existing cash and cash equivalents, borrowings and amounts available under our revolving line of credit and cash generated from operations. We believe that these sources will be sufficient to fund our current requirements for working capital, capital expenditures and other financial commitments for at least the next 12 months. We anticipate that the primary factors affecting our cash and liquidity are net revenue, working capital requirements and capital expenditures.

Management defines cash and cash equivalents as highly liquid deposits with original maturities of 90 days or less when purchased. We maintain cash and cash equivalents balances at certain financial institutions in excess of amounts insured by federal agencies. Management does not believe this concentration subjects us to any unusual financial risk beyond the normal risk associated with commercial banking relationships. We frequently monitor the third-party depository institutions that hold our cash and cash equivalents. Our emphasis is primarily on safety of principal and secondarily on maximizing yield on those funds.

Our future working capital requirements will depend on many factors, including the following: timing and amount of our net revenue; our product mix and the resulting gross margins; research and development expenses; selling, general and administrative expenses; and expenses associated with any strategic partnerships, acquisitions or infrastructure investments.

From time to time, we may seek additional capital from public or private offerings of our capital stock, borrowings under our existing or future credit lines or other sources in order to (i) develop or enhance our products, (ii) take advantage of strategic opportunities, (iii) respond to competition or (iv) continue to operate our business. We currently have a Form S-3 shelf registration statement on file with the SEC. If we issue equity securities to raise additional funds, our existing stockholders may experience dilution, and the new equity securities may have rights, preferences and privileges senior to those of our existing stockholders. If we issue debt securities to raise additional funds, we may incur debt service obligations, become subject to additional restrictions that limit or restrict our ability to operate our business, or be required to further encumber our assets. There can be no assurance that we will be able to raise any such capital on terms acceptable to us, if at all.

Bank Line of Credit

Refer to Note 5 of Notes to Unaudited Condensed Consolidated Financial Statements, included in Part I, Item 1 of this Report, which is incorporated herein by reference, for a discussion of our loan agreement.

Cash Flows

The following table presents the major components of the unaudited condensed consolidated statements of cash flows:

	Three Months Ended
	September 30,
	2018			2017			Change
	(In thousands)
Net cash provided by (used in) operating activities	$	(474	)	$	111		$	(585	)
Net cash used in investing activities		(64	)		(50	)		(14	)
Net cash provided by financing activities		9,895			89			9,806

Operating Activities

We used net cash from operating activities during the three months ended September 30, 2018 as compared to the prior year period. This was largely due to an increase in accounts receivable compared to June 30, 2018, as a result of an increase in net revenue during the quarter as well as the timing of collections from customers. The impact of this increase in accounts receivable was partially offset by the decrease in our net loss in the current quarter compared to the prior quarter.

Investing Activities

Net cash used in investing activities was related to capital expenditures for the purchase of property and equipment, primarily related to tooling and test equipment.

Financing Activities

Net cash provided by financing activities during the three months ended September 30, 2018 resulted primarily from the public offering of common stock described above. Additionally, for the periods ended September 30, 2018 and 2017 financing activities provided cash from stock option exercises by employees. This was partially offset by payments for (i) withholding taxes related to the vesting of restricted stock units and (ii) capital leases.

Off-Balance Sheet Arrangements

As of September 30, 2018, we did not have any relationships with unconsolidated organizations or financial partnerships, including structured finance or special purpose entities, that have been established to facilitate off-balance sheet arrangements or for other purposes.

Item 3.

Quantitative and Qualitative Disclosures about Market Risk

As a smaller reporting company, we are not required to provide the information required by this Item 3.

Item 4.

Controls and Procedures

(a) Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) that are designed to ensure that information required to be disclosed by us in reports that we file or submit under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in SEC rules and forms and (ii) is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

We carried out an evaluation, under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this Report. Based upon that evaluation, our principal executive officer and principal financial officer concluded that our disclosure controls and procedures were effective as of September 30, 2018 at the reasonable assurance level.

(b) Changes in Internal Controls over Financial Reporting

Effective July 1, 2018, we adopted the new revenue standard under Accounting Standards Codification 606: Revenue from Contracts with Customers. We have implemented additional business processes and control activities, primarily related to variable consideration estimates, and presentation and disclosure, in order to monitor and maintain appropriate controls over financial reporting. There were no other changes in our internal control over financial reporting identified in connection with the evaluation required by Rule 13a-15(f) and 15d-15(f) of the Exchange Act that occurred during the quarter ended September 30, 2018, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

(c) Inherent Limitation on Effectiveness of Controls

A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of a simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the controls. The design of any system of controls is also based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions; over time, controls may become inadequate because of changes in conditions, or the degree of compliance with policies or procedures may deteriorate. Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.

PART II. OTHER INFORMATION

Item 1.

Legal Proceedings

Item 1A.

Risk Factors

An investment in our common stock involves risks. Before making an investment decision, you should carefully consider all of the information in this Report, including in the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part I, Item 2 of this Report, and the unaudited condensed consolidated financial statements and related notes thereto in Part I, Item 1 of this Report. In addition, you should carefully consider the risks and uncertainties described in the section entitled “Risk Factors” in the Form 10-K, as well as in our other public filings with the SEC. If any of the identified risks are realized, our business, financial condition, operating results and prospects could be materially and adversely affected. In that case, the trading price of our common stock may decline, and you could lose all or part of your investment. In addition, other risks of which we are currently unaware, or which we do not currently view as material, could have a material adverse effect on our business, financial condition, operating results and prospects.

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3.

Defaults Upon Senior Securities

None.

Item 4.

Mine Safety Disclosures

Not applicable.

Item 5.

Other Information

None.

Item 6.

Exhibits

See the “Exhibit Index” immediately following the signature page of this Report, which is incorporated herein by reference.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	LANTRONIX, INC.


Date: October 26, 2018	By:	/s/ JEFFREY BENCK
		Jeffrey Benck
		President and Chief Executive Officer
		(Principal Executive Officer)


Date: October 26, 2018	By:	/s/ JEREMY WHITAKER
		Jeremy Whitaker Chief Financial Officer
		(Principal Financial and Accounting Officer)

EXHIBIT INDEX

			Incorporated by Reference
Exhibit Number	Description	Provided Herewith	Form	Exhibit	Filing Date

10.1	Amended and Restated Loan and Security Agreement dated October 15, 2018 between Lantronix, Inc. and Silicon Valley Bank		8-K	99.1	10/16/2018

31.1	Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002	X

31.2	Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002	X

32.1*	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002	X

101.INS	XBRL Instance Document	X
101.SCH	XBRL Taxonomy Extension Schema Document	X
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document	X
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document	X
101.LAB	XBRL Taxonomy Extension Label Linkbase Document	X
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document	X

_________________

*	Furnished, not filed.

EX-31.1 2 lantronix_10q-ex3101.htm CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

Exhibit 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Jeffrey Benck, certify that:

	1.	I have reviewed this quarterly report on Form 10-Q of Lantronix, Inc.;

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in the Securities Exchange Act of 1934, as amended, Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in the Securities Exchange Act of 1934, as amended, Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)

Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)

Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: October 26, 2018

/s/ JEFFREY BENCK

Jeffrey Benck

President and Chief Executive Officer

(Principal Executive Officer)

EX-31.2 3 lantronix_10q-ex3102.htm CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

Exhibit 31.2

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Jeremy Whitaker, certify that:

	1.	I have reviewed this quarterly report on Form 10-Q of Lantronix, Inc.;

(a)

(b)

(c)

(d)

(a)

(b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: October 26, 2018

/s/ JEREMY WHITAKER

Jeremy Whitaker

Chief Financial Officer

(Principal Financial and Accounting Officer)

EX-32.1 4 lantronix_10q-ex3201.htm CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

Exhibit 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The following certifications are being furnished solely to accompany the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2018 (the “Report”) pursuant to U.S.C. Section 1350, and pursuant to SEC Release No. 33-8238 are being “furnished” to the Securities and Exchange Commission rather than “filed” either as part of the Report or as a separate disclosure statement, and are not to be incorporated by reference into the Report or any other filing of Lantronix, Inc. (the “Company”), whether made before or after the date hereof, regardless of any general incorporation language in such filing. The following certifications shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability under that section.

Certification of the Chief Executive Officer

Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, the undersigned officer of the Company hereby certifies, to such officer’s knowledge, that:

(i) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(ii) the information contained in the Report fairly presents, in all material respects, the financial condition and results operations of the Company as of, and for, the periods presented in such Report.

Date: October 26, 2018

/s/ JEFFREY BENCK

Jeffrey Benck

President and Chief Executive Officer

(Principal Executive Officer)

Certification of the Chief Financial Officer

Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, the undersigned officer of the Company hereby certifies, to such officer’s knowledge, that:

(i) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

Date: October 26, 2018

/s/ JEREMY WHITAKER

Jeremy Whitaker

Chief Financial Officer

(Principal Financial and Accounting Officer)

GRAPHIC 5 image_001.jpg GRAPHIC begin 644 image_001.jpg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ltrx-20180930.xml XBRL INSTANCE FILE 0001114925 2017-07-01 2018-06-30 0001114925 2018-06-30 0001114925 2017-06-30 0001114925 us-gaap:CostOfSalesMember 2018-07-01 2018-09-30 0001114925 us-gaap:CostOfSalesMember 2017-07-01 2017-09-30 0001114925 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2018-07-01 2018-09-30 0001114925 us-gaap:SellingGeneralAndAdministrativeExpensesMember 2017-07-01 2017-09-30 0001114925 us-gaap:ResearchAndDevelopmentExpenseMember 2018-07-01 2018-09-30 0001114925 us-gaap:ResearchAndDevelopmentExpenseMember 2017-07-01 2017-09-30 0001114925 2018-10-19 0001114925 us-gaap:OptionMember 2018-06-30 0001114925 us-gaap:RestrictedStockUnitsRSUMember 2018-06-30 0001114925 us-gaap:EmployeeStockMember 2018-06-30 0001114925 2018-07-01 2018-09-30 0001114925 2017-07-01 2017-09-30 0001114925 2017-09-30 0001114925 2018-09-30 0001114925 us-gaap:OptionMember 2018-07-01 2018-09-30 0001114925 us-gaap:RestrictedStockUnitsRSUMember 2018-07-01 2018-09-30 0001114925 us-gaap:EmployeeStockMember 2018-07-01 2018-09-30 0001114925 us-gaap:OptionMember 2018-09-30 0001114925 us-gaap:RestrictedStockUnitsRSUMember 2018-09-30 0001114925 us-gaap:EmployeeStockMember 2018-09-30 0001114925 LTRX:IotRevenueMember 2018-07-01 2018-09-30 0001114925 LTRX:IotRevenueMember 2017-07-01 2017-09-30 0001114925 LTRX:ItManagementMember 2018-07-01 2018-09-30 0001114925 LTRX:ItManagementMember 2017-07-01 2017-09-30 0001114925 LTRX:OtherRevenueMember 2018-07-01 2018-09-30 0001114925 LTRX:OtherRevenueMember 2017-07-01 2017-09-30 0001114925 srt:AmericasMember 2018-07-01 2018-09-30 0001114925 srt:AmericasMember 2017-07-01 2017-09-30 0001114925 srt:AsiaPacificMember 2018-07-01 2018-09-30 0001114925 srt:AsiaPacificMember 2017-07-01 2017-09-30 0001114925 us-gaap:EMEAMember 2017-07-01 2017-09-30 0001114925 us-gaap:EMEAMember 2018-07-01 2018-09-30 0001114925 us-gaap:NewAccountingPronouncementMember 2018-09-30 0001114925 us-gaap:NewAccountingPronouncementMember 2018-06-30 0001114925 LTRX:WithoutAdoptionMember 2018-09-30 0001114925 us-gaap:NewAccountingPronouncementMember 2018-07-01 2018-09-30 0001114925 LTRX:WithoutAdoptionMember 2018-07-01 2018-09-30 0001114925 LTRX:SeveranceMember 2018-07-01 2018-09-30 0001114925 LTRX:ShareBasedCompensationMember 2018-07-01 2018-09-30 0001114925 LTRX:SeveranceMember 2017-07-01 2017-09-30 0001114925 LTRX:UnderwritersMember 2018-07-01 2018-09-30 0001114925 LTRX:PublicOfferingMember 2018-07-01 2018-10-19 0001114925 LTRX:BalanceWithAdoptionMember 2018-06-30 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure

916000

310000

845000

1062000

296000

305000

55000

42000

305000

261000

175000

166000

137000

115000

460000 618000

99000

125000

92000

2600000

100000

17000

13000

400000

212000

61000

47000

478000

272000

2020-09-30

148000

21997843

5892000

4494000

2547000

3538000

4000000

LANTRONIX INC 0001114925 10-Q 2018-09-30 false --06-30 Yes Non-accelerated Filer Q1 2019

1828000

1700000

7000000

25212000

3931000

3476000

20000

79000

3000

1.73

3.60

1.85

1.63

140000

683000

1.51

4.80

5.25

4684000

1337000

3157000

190000

P2Y3M18D

P3Y7M6D

P1Y3M18D

.93

.04

168000

4000

194000

11000

393000

1.79

598000

44000

1.23

210000

323000

113000

33000

9568000

8073000

8223000

18925000

true false

4244000

5917000

-2818000

1177000

3099000

5421000

8439000

8032000

1281000

-462000

9313000

7977000

649000

554000

23270000

34222000

1036000

1031000

9488000

61000

57000

33855000

44798000

3942000

3986000

2808000

1972000

2877000

3765000

-241000

226000

3524000

3103000

9726000

9815000

316000

283000

10042000

10098000

2000

212995000

223383000

-189555000

-189056000

-1488000

582000

-190544000

-188973000

371000

23813000

34700000

33855000

44798000

12279000

10606000

8967000

8458000

3101000

1789000

211000

359000

6914000

5697000

1845000

1745000

3164000

3520000

-1628000

10651000

5538000

5012000

-721000

4817000

6741000

5594000

4472000

3986000

-2000

4470000

2298000

2221000

6770000

6207000

-29000

-613000

4000

-10000

1000

-43000

-616000

40000

25000

-83000

-641000

-906000

-989000

-0.00

-0.04

-0.05

19323000

17867000

105000

117000

496000

-745000

55000 299000

-95000

-132000

331000

-120000

-1000

1000

11000

783000

-836000

-1269000

-7000

4000

644000

148000

-474000

111000

64000

50000

-64000

-50000

113000

48000

10023000

151000

15000

14000

9895000

89000

9357000

150000

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 68px">1.</td> <td style="text-align: justify">Summary of Significant Accounting Policies</td></tr> </table>   The Company   Lantronix, Inc., which we refer to herein as the Company, Lantronix, we, our, or us, is a global provider of secure data access and management solutions for Internet of Things (“IoT”) assets. Our mission is to be the leading supplier of IoT and related Information Technology (“IT”) management solutions that enable companies to dramatically simplify the creation, deployment, and management of IoT projects while providing secure access to data for applications and people.   Basis of Presentation   The accompanying unaudited condensed consolidated financial statements of Lantronix have been prepared in accordance with United States generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Securities and Exchange Commission (“SEC”) Regulation S-X. Accordingly, they should be read in conjunction with the audited consolidated financial statements and notes thereto for the fiscal year ended June 30, 2018, included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2018, which was filed with the SEC on August 23, 2018. The unaudited condensed consolidated financial statements contain all normal recurring accruals and adjustments that in the opinion of management, are necessary to present fairly the consolidated financial position of Lantronix at September 30, 2018, and the consolidated results of our operations and cash flows for the three months ended September 30, 2018. All intercompany accounts and transactions have been eliminated. Accounting measurements at interim dates inherently involve greater reliance on estimates than at year-end. The results of operations for the three months ended September 30, 2018 are not necessarily indicative of the results to be expected for the full year or any future interim periods.   Reclassifications   Certain reclassifications have been made to the prior fiscal year financial information to conform with the current fiscal year presentation.   Recent Accounting Pronouncements     Shared-Based Compensation   In June 2018, the Financial Accounting Standards Board (“FASB”) issued an accounting standard that expands the scope of existing share-based compensation guidance for employees. The new standard will include share-based payment transactions for acquiring goods and services from nonemployees, whereby share-based payments to nonemployees will be measured and recorded at the fair value of the equity instruments that an entity is obligated to issue on the grant date. Entities are required to adopt the standard using a modified retrospective approach with a cumulative adjustment to opening retained earnings in the year of adoption for the remeasurement of liability-classified awards that have not been settled by the date of adoption and equity-classified awards for which a measurement date has not been established. The standard will be effective for Lantronix in the fiscal year beginning July 1, 2019, with early adoption permitted. We are currently evaluating this guidance and currently do not anticipate that adoption will have a material impact on our consolidated financial statements.   Leases   In February 2016, FASB issued an accounting standard that revises lease accounting guidance. Most prominent among the changes in the standard is the recognition of right-of-use (“ROU”) assets and lease liabilities by lessees for those leases classified as operating leases under the existing guidance. The standard requires entities to recognize and measure leases existing at, or entered into after, the beginning of the earliest comparative period presented using a modified retrospective approach, with certain practical expedients available. In July 2018, FASB issued a practical expedient that would allow entities the option to apply the provisions of the new lease guidance at the effective date of adoption without adjusting the comparative periods presented.    The standard will be effective for Lantronix in the fiscal year beginning July 1, 2019, with early adoption permitted. While we are continuing to assess the potential impacts of this standard, we currently expect the most significant impact on our financial statements will be the recognition of ROU assets and lease liabilities for our operating leases. We have not yet determined which practical expedients we intend to utilize in connection with adopting the new standard, nor have we determined any quantitative impacts on our financial statements.     Revenue from Contracts with Customers   Refer to Note 2 below regarding our adoption of the new revenue standard under FASB’s Accounting Standards Codification 606: Revenue from Contract with Customers (“ASC 606”).

Basis of Presentation   The accompanying unaudited condensed consolidated financial statements of Lantronix have been prepared in accordance with United States generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Securities and Exchange Commission (“SEC”) Regulation S-X. Accordingly, they should be read in conjunction with the audited consolidated financial statements and notes thereto for the fiscal year ended June 30, 2018, included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2018, which was filed with the SEC on August 23, 2018. The unaudited condensed consolidated financial statements contain all normal recurring accruals and adjustments that in the opinion of management, are necessary to present fairly the consolidated financial position of Lantronix at September 30, 2018, and the consolidated results of our operations and cash flows for the three months ended September 30, 2018. All intercompany accounts and transactions have been eliminated. Accounting measurements at interim dates inherently involve greater reliance on estimates than at year-end. The results of operations for the three months ended September 30, 2018 are not necessarily indicative of the results to be expected for the full year or any future interim periods.

Recent Accounting Pronouncements     Shared-Based Compensation   In June 2018, the Financial Accounting Standards Board (“FASB”) issued an accounting standard that expands the scope of existing share-based compensation guidance for employees. The new standard will include share-based payment transactions for acquiring goods and services from nonemployees, whereby share-based payments to nonemployees will be measured and recorded at the fair value of the equity instruments that an entity is obligated to issue on the grant date. Entities are required to adopt the standard using a modified retrospective approach with a cumulative adjustment to opening retained earnings in the year of adoption for the remeasurement of liability-classified awards that have not been settled by the date of adoption and equity-classified awards for which a measurement date has not been established. The standard will be effective for Lantronix in the fiscal year beginning July 1, 2019, with early adoption permitted. We are currently evaluating this guidance and currently do not anticipate that adoption will have a material impact on our consolidated financial statements.   Leases   In February 2016, FASB issued an accounting standard that revises lease accounting guidance. Most prominent among the changes in the standard is the recognition of right-of-use (“ROU”) assets and lease liabilities by lessees for those leases classified as operating leases under the existing guidance. The standard requires entities to recognize and measure leases existing at, or entered into after, the beginning of the earliest comparative period presented using a modified retrospective approach, with certain practical expedients available. In July 2018, FASB issued a practical expedient that would allow entities the option to apply the provisions of the new lease guidance at the effective date of adoption without adjusting the comparative periods presented.    The standard will be effective for Lantronix in the fiscal year beginning July 1, 2019, with early adoption permitted. While we are continuing to assess the potential impacts of this standard, we currently expect the most significant impact on our financial statements will be the recognition of ROU assets and lease liabilities for our operating leases. We have not yet determined which practical expedients we intend to utilize in connection with adopting the new standard, nor have we determined any quantitative impacts on our financial statements.     Revenue from Contracts with Customers   Refer to Note 2 below regarding our adoption of the new revenue standard under FASB’s Accounting Standards Codification 606: Revenue from Contract with Customers (“ASC 606”).

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(In thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 45%">IoT</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">8,967</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">8,458</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">IT Management</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,789</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">211</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">359</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,279</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">10,606</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(In thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 45%">Americas</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">6,914</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">5,697</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>EMEA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,164</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Asia Pacific Japan</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,845</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,745</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,279</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">10,606</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%">Balance, July 1, 2018</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">480</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New performance obligations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Recognition of revenue as a result of satisfying performance obligations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(90</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance, September 30, 2018</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">427</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Less: non-current portion of deferred revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(166</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Current portion, September 30, 2018</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">September 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(In thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 45%; text-align: left">Finished goods</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">4,494</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">5,892</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Raw materials</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,538</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,547</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Inventories, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,032</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,439</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">September 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(In thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold">Current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 55%; text-align: left">Accrued variable consideration</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,167</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">–</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Customer deposits and refunds</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">310</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">916</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued raw materials purchases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">618</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">460</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Deferred revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">261</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">305</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Capital lease obligations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">55</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Taxes payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">305</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">296</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accrued operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,062</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">845</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Total other current liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,765</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,877</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold">Non-current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred rent</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">115</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">137</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Deferred revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">166</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">175</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Capital lease obligations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Total other non-current liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">283</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">316</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">September 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(In thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Beginning balance</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 55%; text-align: left; padding-left: 10pt">Charges</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">323</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Payments</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(113</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 68px">4.</td> <td style="text-align: justify">Warranty Reserve</td></tr> </table>   The standard warranty periods we provide for our products typically range from one to five years. We establish reserves for estimated product warranty costs at the time revenue is recognized based upon our historical warranty experience, and for any known or anticipated product warranty issues.   The following table presents details of our warranty reserve:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Year Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">September 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">(In thousands)</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">99</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">125</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Charged to cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">168</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Usage</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(11</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(194</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">92</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">99</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 68px">5.</td> <td style="text-align: justify">Bank Line of Credit</td></tr> </table>   In October 2018, we entered into a new Loan and Security Agreement (the “Loan Agreement”) with Silicon Valley Bank (“SVB”), as our previous agreement expired at the end of September 2018. The Loan Agreement provides us with a $4.0 million revolving line of credit based on qualified accounts receivable and has a maturity date of September 30, 2020. There were no outstanding borrowings as of September 30, 2018 or June 30, 2018.   The Loan Agreement provides for an interest rate per annum equal to the greater of (i) the prime rate plus 0.50% or (ii) 5.00%, provided that we maintain a monthly quick ratio of 1.0 to 1.0 or greater. The quick ratio measures our ability to use our cash and cash equivalents maintained at SVB to extinguish or retire our current liabilities immediately. If this ratio is not met, the interest rate will become the greater of (i) the prime rate plus 1.00% or (ii) 5.00%. At September 30, 2018, we met the quick ratio requirement.   The Loan Agreement also includes a covenant requiring us to maintain a certain Minimum Tangible Net Worth (“Minimum TNW”), currently required to be $7,000,000. The Minimum TNW is subject to adjustment upward to the extent we raise additional equity or debt financing or achieve net income in future periods. Our Actual Tangible Net Worth (“Actual TNW”) is calculated as total stockholders’ equity, less goodwill. At September 30, 2018, our Actual TNW was $25,212,000.

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(In thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%">Shares available for issuance at June 30, 2018</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">148</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Shares issued</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Shares available for issuance at September 30, 2018</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">148</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

480000

427000

37000

90000

370000

794000

-191000

93000

603000

463000

0 1167000

4000

2000

460000

527000

323000

137000

527000

11000

1.37

9438000

366000

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 68px">2.</td> <td style="text-align: justify">Revenue Recognition</td></tr> </table>   Nature of Net Revenue   Most of our net revenue is currently derived from sales of hardware products. We also derive a small portion of our net revenue from professional engineering services and extended warranty services. Extended warranty services generally extend the warranty period on our hardware products for an additional one to three years, depending upon the product.   In addition to the products and services described directly above, during the past year we have introduced a number of ready-to-use applications as well as software-as-a-service (“SaaS”) offerings for our IoT and IT Management product lines, including Lantronix Gateway Central, MACH10® Global Device Manager, and ConsoleFlowTM. These software offerings are in the early stages of evaluation and have not yet generated net revenue.   Net Revenue by Product Line and Geographic Region   We organize our products and solutions into three product lines: IoT, IT Management and Other. Our IoT products typically connect to one or more existing machines or are built into new industrial devices to provide network connectivity. Our IT Management product line includes console management, power management, and keyboard-video-mouse (commonly referred to as KVM) products that provide remote access to IT and networking infrastructure deployed in test labs, data centers, branch offices and server rooms. We categorize products that are non-focus or end-of-life as Other.   We conduct our business globally and manage our sales teams by three geographic regions: the Americas; Europe, Middle East, and Africa (“EMEA”); and Asia Pacific Japan.   The following tables present our net revenue by product line and by geographic region. Net revenues by geographic region are based on the “bill-to” location of our customers:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(In thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 45%">IoT</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">8,967</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">8,458</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">IT Management</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,101</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,789</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">211</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">359</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,279</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">10,606</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>    <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(In thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 45%">Americas</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">6,914</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">5,697</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>EMEA</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,164</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Asia Pacific Japan</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,845</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,745</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,279</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">10,606</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>   Revenue Recognition Policy and Significant Judgments   Revenue is recognized upon the transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. In accordance with ASC 606, we apply the following five-step approach in determining the amount and timing of revenue to be recognized: (i) identifying the contract with a customer, (ii) identifying the performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the performance obligations in the contract and (v) recognizing revenue when the performance obligation is satisfied.   On occasion, we enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of (i) any taxes collected from customers, which are subsequently remitted to governmental authorities and (ii) shipping and handling costs collected from customers.   Product Shipments   Most of our product revenue is recognized as a distinct single performance obligation when products are tendered to a carrier for delivery, which represents the point in time that our customer obtains control of the promised products. A smaller portion of our product revenue is recognized when our customer receives delivery of the promised products.   A significant portion of our products are sold to distributors under agreements which contain (i) limited rights to return unsold products and (ii) price adjustment provisions, both of which are accounted for as variable consideration when estimating the amount of revenue to recognize. We base our estimates for returns and price adjustments primarily on historical experience; however, we also consider contractual allowances, approved pricing adjustments and other known or anticipated returns and price adjustments in a given period. Such estimates are generally made at the time of shipment to the customer and updated at the end of each reporting period as additional information becomes available and only to the extent that it is probable that a significant reversal of any incremental revenue will not occur. Our estimates of accrued variable consideration are included in other current liabilities in the accompanying condensed consolidated balance sheet at September 30, 2018.   Services and Multiple Performance Obligations   Revenues from our extended warranty and services are generally recognized ratably over the applicable service period. Revenues from professional engineering services are generally recognized as services are performed. We expect revenues from future sales of our SaaS products to be recognized ratably over the applicable service period.   From time to time, we may enter into contracts with customers that include promises to transfer multiple deliverables that may include sales of products, professional engineering services and other product qualification or certification services. Determining whether the deliverables in such arrangements are considered distinct performance obligations that should be accounted for separately versus together often requires judgment. We consider performance obligations to be distinct when the customer can benefit from the promised good or service on its own or by combining it with other resources readily available and when the promised good or service is separately identifiable from other promised goods or services in the contract. In such arrangements, we allocate revenue on a relative standalone selling price basis by maximizing the use of observable inputs to determine the standalone selling price for each performance obligation.    Contract Balances   In certain instances, the timing of revenue recognition may differ from the timing of invoicing to our customers. We record a contract asset receivable when revenue is recognized prior to invoicing, and a contract or deferred revenue liability when revenue is recognized subsequent to invoicing. With respect to product shipments, we expect to fulfill contract obligations within one year and so we have elected not to separately disclose the amount nor the timing of recognition of these remaining performance obligations. For contract balances related to contracts that include services and multiple performance obligations, refer to the deferred revenue discussion below. There were no unbilled contract asset receivable balances as of the transition date, July 1, 2018.   Payment terms and conditions vary by customer, but generally include a requirement of payment within 30 to 60 days from the invoice date. We do not consider this a significant period of time and have elected not to determine whether contracts with customers contain significant financing components. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services, not to provide financing to them.   Deferred Revenue   Deferred revenue is currently comprised primarily of unearned revenue related to our extended warranty services. These services are generally invoiced at the beginning of the contract period and revenue is recognized ratably over the service period. Current and non-current deferred revenue balances represent revenue allocated to the remaining unsatisfied performance obligations at the end of a reporting period and are respectively included in other current liabilities and other non-current liabilities in the accompanying condensed consolidated balance sheets.   The following table presents the changes in our deferred revenue balance for the three months ended September 30, 2018 (in thousands):   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%">Balance, July 1, 2018</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">480</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">New performance obligations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Recognition of revenue as a result of satisfying performance obligations</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(90</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance, September 30, 2018</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">427</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Less: non-current portion of deferred revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(166</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Current portion, September 30, 2018</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">261</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>   We expect to recognize substantially all of the non-current portion of deferred revenue over the next two to three years.   Costs to Obtain or Fulfill a Contract with a Customer   In accordance with applicable accounting guidance, we recognize an asset for the incremental costs of obtaining or fulfilling a contract with a customer if we expect the benefit of those costs to be longer than one year. We apply a practical expedient to expense costs as incurred for costs to obtain a contract when the amortization period would have been one year or less. These costs primarily relate to commissions earned and paid to our internal sales team and to certain external sale representatives, and are recorded in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations. As of September 30, 2018, we do not have any assets recorded pertaining to incremental costs to obtain or fulfill a contract with a customer.   Adoption of New Revenue Standard and Change in Accounting Policy   On July 1, 2018, we adopted ASC 606 using the modified retrospective method and applied it to contracts that were not completed as of that date. Upon adoption, we recorded a non-cash cumulative effect adjustment of $582,000 to our accumulated deficit as of July 1, 2018. The prior year comparative financial information has not been restated and continues to be presented under the accounting standards in effect for the respective periods.   The primary impact to Lantronix of adopting ASC 606 relates to a shift in the timing of when revenue is recognized for sales made to distributors under agreements which contain limited rights to return unsold products and price adjustment provisions. Under the revenue standards that we followed prior to adopting ASC 606, we concluded that the prices to these distributors were not fixed and determinable at the time we deliver products to them and accordingly, revenues from sales to these distributors, and the related inventory costs, were not recognized until the distributors resold the products.  By contrast, upon adopting ASC 606, we now recognize revenue, including estimates for variable consideration, when we transfer control of the products to the distributor rather than deferring recognition until the distributor resells the products.   The following table summarizes the significant changes to our accompanying unaudited condensed consolidated balance sheet in connection with adopting ASC 606:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Balance at</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">ASC 606 Adoption</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Balance at</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">June 30, 2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Adjustments</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">July 1, 2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(In thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold">Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: left; padding-left: 10pt">Accounts receivable, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">4,244</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,177</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">5,421</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-left: 10pt">Inventories, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,439</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(462</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,977</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Prepaid expenses and other current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">370</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">93</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">463</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Liabilities and Shareholders' Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-left: 10pt">Other current liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,877</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">226</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,103</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(189,555</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">582</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(188,973</td><td style="text-align: left">)</td></tr> </table>   The following tables summarize the significant impacts of adopting ASC 606 on our financial statements as of September 30, 2018 and for the three months ended September 30, 2018:   Condensed Consolidated Balance Sheet   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">September 30, 2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Impact of Adoption</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Balances Without Adoption of ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(In thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold">Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: left; padding-left: 10pt">Accounts receivable, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">5,917</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">(2,818</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">3,099</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-left: 10pt">Inventories, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,032</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,281</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,313</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Prepaid expenses and other current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">794</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(191</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">603</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Liabilities and Shareholders' Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-left: 10pt">Other current liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,765</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(241</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,524</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(189,056</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,488</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(190,544</td><td style="text-align: left">)</td></tr> </table>   Accounts receivable, net and inventories, net, as reported at September 30, 2018, differ from the balances that would have been recorded without the adoption of ASC 606 since we no longer record deferred revenue and inventory balances for products held at certain distributor customers awaiting sell-through. Additionally, under ASC 606 we record contract assets and contract liabilities as estimates for variable consideration, which are recorded to prepaid expenses and other current assets and other current liabilities, respectively. The accumulated deficit balance, as reported, differs from the balance without the adoption of ASC 606 as a result of the adjustments discussed above.   Condensed Consolidated Statement of Operations   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three months ended September 30, 2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Impact of Adoption</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amounts Without Adoption of ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(In thousands, except per share amounts)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 45%; text-align: left">Net revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">12,279</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">(1,628</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">10,651</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,538</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(721</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,817</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Selling, general and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,472</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,470</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(83</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(906</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(989</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Net loss per share - basic and diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.00</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.05</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.05</td><td style="text-align: left">)</td></tr> </table>   Net revenue, as reported, for the three months ended September 30, 2018 differs from the recalculated net revenue without the adoption of ASC 606 due to the difference in timing of when we recognize revenue for sales to certain distributor customers, as further described above. More specifically, as of the prior quarter ended June 30, 2018, inventories held by our distributor customers were at historically low levels. During the quarter ended September 30, 2018, our distributor customers increased their purchases and brought their inventories up to levels that were more consistent with what they have held historically. This had the impact of lower sell-through net revenues as recalculated without the effect of adopting ASC 606. Likewise, the differences in cost of revenue, net loss and net loss per share in the table directly above are primarily attributable to the difference in net revenue.

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Balance at</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">ASC 606 Adoption</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Balance at</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">June 30, 2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Adjustments</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">July 1, 2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(In thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold">Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: left; padding-left: 10pt">Accounts receivable, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">4,244</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,177</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">5,421</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-left: 10pt">Inventories, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,439</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(462</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,977</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Prepaid expenses and other current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">370</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">93</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">463</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Liabilities and Shareholders' Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-left: 10pt">Other current liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,877</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">226</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,103</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(189,555</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">582</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(188,973</td><td style="text-align: left">)</td></tr> </table>   The following tables summarize the significant impacts of adopting ASC 606 on our financial statements as of September 30, 2018 and for the three months ended September 30, 2018:   Condensed Consolidated Balance Sheet   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">September 30, 2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Impact of Adoption</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Balances Without Adoption of ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(In thousands)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold">Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: left; padding-left: 10pt">Accounts receivable, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">5,917</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">(2,818</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">3,099</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-left: 10pt">Inventories, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,032</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,281</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,313</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Prepaid expenses and other current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">794</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(191</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">603</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Liabilities and Shareholders' Equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-left: 10pt">Other current liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,765</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(241</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,524</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(189,056</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,488</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(190,544</td><td style="text-align: left">)</td></tr> </table>   Accounts receivable, net and inventories, net, as reported, at September 30, 2018 differ from the balances that would have been recorded without the adoption of ASC 606 since we no longer record deferred revenue and inventory balances for products held at certain distributor customers awaiting sell-through. Additionally, under ASC 606 we record contract assets and contract liabilities as estimates for variable consideration, which are recorded to prepaid expenses and other current assets and other current liabilities, respectively. The accumulated deficit balance, as reported, differs from the balance without the adoption of ASC 606 as a result of the adjustments discussed above.     Condensed Consolidated Statement of Operations   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three months ended September 30, 2018</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As Reported</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Impact of Adoption</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amounts Without Adoption of ASC 606</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(In thousands, except per share amounts)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 45%; text-align: left">Net revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">12,279</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">(1,628</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">10,651</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,538</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(721</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,817</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Selling, general and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,472</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,470</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(83</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(906</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(989</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Net loss per share - basic and diluted</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.00</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.05</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.05</td><td style="text-align: left">)</td></tr> </table>

EX-101.SCH 7 ltrx-20180930.xsd XBRL SCHEMA FILE 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Unaudited Condensed Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Unaudited Condensed Consolidated Statements of Operations link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Unaudited Condensed Consolidated Statements of Cash Flows link:presentationLink link:calculationLink link:definitionLink 00000005 - Disclosure - 1. Summary of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 00000006 - Disclosure - 2. Revenue Recognition link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - 3. Supplemental Financial Information link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - 4. Warranty Reserve link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - 5. Bank Line of Credit link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - 6. Stockholders' Equity link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - 7. Income Taxes link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - 8. Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - 1. Summary of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - 2. Revenue Recognition (Tables) link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - 3. Supplemental Financial Information (Tables) link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - 4. Warranty Reserve (Tables) link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - 6. Stockholders' Equity (Tables) link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - 7. Income Taxes (Tables) link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - 2. Revenue Recognition (Details - Revenue by product) link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - 2. Revenue Recognition (Details - Revenue by geographic region) link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - 2. Revenue Recognition (Details - Deferred Revenue) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - 2. Revenue Recognition (Details - ASC 606 changes to BS) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - 2. Revenue Recognition (Details - ASC 606 changes to IS) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - 3. Supplemental Financial Information (Details - Inventories) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - 3. Supplemental Financial Information (Details - Other liabilities) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - 3. Supplemental Financial Information (Details - Net Loss per Share) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - 3. Supplemental Financial Information (Details - Equivalents) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - 3. Supplemental Financial Information (Details- Severance and related charges) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - 3. Supplemental Financial Information (Details- Supplemental Cash Flow Info) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - 3. Supplemental Financial Information (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - 4. Warranty Reserve (Details - Warranty reserve) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - 5. Bank Line of Credit and Debt (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - 6. Stockholders Equity (Details - Option activity) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - 6. Stockholders Equity (Details - RSU activity) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - 6. Stockholders Equity (Details - ESPP activity) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - 6. Stockholders Equity (Details - Share based compensation) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - 6. Stockholders Equity (Details - Unrecognized expense) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - 6. Stockholders Equity (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000039 - Disclosure - 7. Income Taxes (Details - Effective tax rate) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 8 ltrx-20180930_cal.xml XBRL CALCULATION FILE EX-101.DEF 9 ltrx-20180930_def.xml XBRL DEFINITION FILE EX-101.LAB 10 ltrx-20180930_lab.xml XBRL LABEL FILE Income Statement Location [Axis] Cost of revenue [Member] Selling, general and administrative [Member] Research and development [Member] Award Type [Axis] Stock Options [Member] Restricted Stock Units (RSUs) [Member] ESPP [Member] Product and Service [Axis] IoT Revenue [Member] IT Management [Member] Other Revenue [Member] Geographical [Axis] Americas [Member] Asia Pacific [Member] E M E A [Member] Adjustments for New Accounting Pronouncements [Axis] Impact of Adoption ASC 606 [Member] Scenario [Axis] Without Adoption of ASC 606 [Member] Severance related costs [Member] Share-based Compensation [Member] Sale of Stock [Axis] Underwriters [Member] Public Offering [Member] Balance at July 1, 2018 [Member] Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Is Entity's Reporting Status Current? Entity Filer Category Entity Public Float Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Entity Small Business Entity Emerging Growth Statement of Financial Position [Abstract] Assets Current assets: Cash and cash equivalents Accounts receivable, net Inventories, net Contract manufacturers' receivable Prepaid expenses and other current assets Total current assets Property and equipment, net Goodwill Other assets Total assets Liabilities and stockholders' equity Current liabilities: Accounts payable Accrued payroll and related expenses Warranty reserve Other current liabilities Total current liabilities Other non-current liabilities Total liabilities Commitments and contingencies (Note 8) Stockholders' equity: Common stock Additional paid-in capital Accumulated deficit Accumulated other comprehensive income Total stockholders' equity Total liabilities and stockholders' equity Income Statement [Abstract] Net revenue Cost of revenue Gross profit Operating expenses: Selling, general and administrative Research and development Total operating expenses Loss from operations Interest expense, net Other income (expense), net Loss before income taxes Provision for income taxes Net loss Net loss per share - basic and diluted Weighted-average common shares - basic and diluted Statement of Cash Flows [Abstract] Operating activities Net loss Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Share-based compensation Depreciation and amortization Changes in operating assets and liabilities: Accounts receivable Contract manufacturers' receivable Inventories Prepaid expenses and other current assets Other assets Accounts payable Accrued payroll and related expenses Warranty reserve Other liabilities Net cash provided by (used in) operating activities Investing activities Purchases of property and equipment Net cash used in investing activities Financing activities Net proceeds from issuances of common stock Tax withholding paid on behalf of employees for restricted shares Payment of capital lease obligations Net cash provided by financing activities Increase in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Accounting Policies [Abstract] Summary of Significant Accounting Policies Revenue from Contract with Customer [Abstract] Revenue Recognition Supplemental Financial Information Supplemental Financial Information Product Warranties Disclosures [Abstract] Warranty Reserve Debt Disclosure [Abstract] Bank Line of Credit Equity [Abstract] Stockholders' Equity Income Tax Disclosure [Abstract] Income Taxes Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies The Company Basis of Presentation Reclassifications Recent Accounting Pronouncements Net revenue by product lines Net revenue by geographic region Changes in deferred revenue Effect of changes from adopting ASC 606 Schedule of Inventory Schedule of Other Liabilities Schedule of Computation of Net Loss per Share Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share Schedule of severance and related charges Schedule of Supplemental Cash Flow Information Schedule of warranty reserve Statement [Table] Statement [Line Items] Summary of stock option activity Summary of other-than-option activity Schedule of share-based compensation expense Schedule of unrecognized share-based compensation expense Schedule of Components of Income Tax Expense Schedule of Income before Income Tax, Domestic and Foreign Schedule of Deferred Tax Assets and Liabilities Schedule of Effective Income Tax Rate Summary of Operating Loss Carryforwards Summary of uncertain tax position Revenues Deferred revenue, beginning balance New performance obligations Recognition of revenue as a result of satisfying performance obligations Deferred revenue, ending balance Deferred revenue, non-current portion Deferred revenue, current portion Assets: Liabilities and Shareholders' Equity Finished goods Raw materials Inventories, net Current Accrued variable consideration Customer deposits and refunds Accrued raw materials purchases Deferred revenue Capital lease obligations Taxes payable Acccrued operating expenses Total other current liabilities Non-current Deferred rent Deferred revenue Capital lease obligations Total other non-current liabilities Numerator: Denominator: Weighted-average common shares outstanding - basic and diluted Effect of dilutive securities: Stock awards Denominator for net income (loss) per share (diluted) Net income (loss) per share (basic) Net income (loss) per share (diluted) Common stock equivalents Severance costs, beginning balance Charges Payments Other adjustments Severance costs, ending balance EX-101.PRE 11 ltrx-20180930_pre.xml XBRL PRESENTATION FILE XML 12 R1.htm IDEA: XBRL DOCUMENT

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Sep. 30, 2018	Oct. 19, 2018
Document And Entity Information
Entity Registrant Name	LANTRONIX INC
Entity Central Index Key	0001114925
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		21,997,843
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019
Entity Small Business	true
Entity Emerging Growth	false

XML 13 R2.htm IDEA: XBRL DOCUMENT

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018
Current assets:
Cash and cash equivalents	$ 18,925	$ 9,568
Accounts receivable, net	5,917	4,244
Inventories, net	8,032	8,439
Contract manufacturers' receivable	554	649
Prepaid expenses and other current assets	794	370
Total current assets	34,222	23,270
Property and equipment, net	1,031	1,036
Goodwill	9,488	9,488
Other assets	57	61
Total assets	44,798	33,855
Current liabilities:
Accounts payable	3,986	3,942
Accrued payroll and related expenses	1,972	2,808
Warranty reserve	92	99
Other current liabilities	3,765	2,877
Total current liabilities	9,815	9,726
Other non-current liabilities	283	316
Total liabilities	10,098	10,042
Commitments and contingencies (Note 8)
Stockholders' equity:
Common stock	2	2
Additional paid-in capital	223,383	212,995
Accumulated deficit	(189,056)	(189,555)
Accumulated other comprehensive income	371	371
Total stockholders' equity	34,700	23,813
Total liabilities and stockholders' equity	$ 44,798	$ 33,855

XML 14 R3.htm IDEA: XBRL DOCUMENT

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Net revenue	$ 12,279	$ 10,606
Cost of revenue	5,538	5,012
Gross profit	6,741	5,594
Operating expenses:
Selling, general and administrative	4,472	3,986
Research and development	2,298	2,221
Total operating expenses	6,770	6,207
Loss from operations	(29)	(613)
Interest expense, net	(4)	(4)
Other income (expense), net	(10)	1
Loss before income taxes	(43)	(616)
Provision for income taxes	40	25
Net loss	$ (83)	$ (641)
Net loss per share - basic and diluted	$ (0.00)	$ (0.04)
Weighted-average common shares - basic and diluted	19,323	17,867

XML 15 R4.htm IDEA: XBRL DOCUMENT

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Operating activities
Net loss	$ (83)	$ (641)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Share-based compensation	478	272
Depreciation and amortization	105	117
Changes in operating assets and liabilities:
Accounts receivable	(496)	745
Contract manufacturers' receivable	(55)	(299)
Inventories	95	132
Prepaid expenses and other current assets	(331)	120
Other assets	1	(1)
Accounts payable	11	783
Accrued payroll and related expenses	(836)	(1,269)
Warranty reserve	(7)	4
Other liabilities	644	148
Net cash provided by (used in) operating activities	(474)	111
Investing activities
Purchases of property and equipment	(64)	(50)
Net cash used in investing activities	(64)	(50)
Financing activities
Net proceeds from issuances of common stock	10,023	151
Tax withholding paid on behalf of employees for restricted shares	(113)	(48)
Payment of capital lease obligations	(15)	(14)
Net cash provided by financing activities	9,895	89
Increase in cash and cash equivalents	9,357	150
Cash and cash equivalents at beginning of period	9,568	8,073
Cash and cash equivalents at end of period	$ 18,925	$ 8,223

XML 16 R5.htm IDEA: XBRL DOCUMENT

1. Summary of Significant Accounting Policies

3 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

1.	Summary of Significant Accounting Policies

The Company

Basis of Presentation

Reclassifications

Certain reclassifications have been made to the prior fiscal year financial information to conform with the current fiscal year presentation.

Recent Accounting Pronouncements

Shared-Based Compensation

Leases

Revenue from Contracts with Customers

Refer to Note 2 below regarding our adoption of the new revenue standard under FASB’s Accounting Standards Codification 606: Revenue from Contract with Customers (“ASC 606”).

XML 17 R6.htm IDEA: XBRL DOCUMENT

2. Revenue Recognition

3 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Revenue Recognition

2.	Revenue Recognition

Nature of Net Revenue

In addition to the products and services described directly above, during the past year we have introduced a number of ready-to-use applications as well as software-as-a-service (“SaaS”) offerings for our IoT and IT Management product lines, including Lantronix Gateway Central, MACH10^®Global Device Manager, and ConsoleFlow^TM. These software offerings are in the early stages of evaluation and have not yet generated net revenue.

Net Revenue by Product Line and Geographic Region

We conduct our business globally and manage our sales teams by three geographic regions: the Americas; Europe, Middle East, and Africa (“EMEA”); and Asia Pacific Japan.

The following tables present our net revenue by product line and by geographic region. Net revenues by geographic region are based on the “bill-to” location of our customers:

	Three Months Ended September 30,
	2018		2017
	(In thousands)
IoT	$	8,967	$	8,458
IT Management		3,101		1,789
Other		211		359
	$	12,279	$	10,606

	Three Months Ended September 30,
	2018		2017
	(In thousands)
Americas	$	6,914	$	5,697
EMEA		3,520		3,164
Asia Pacific Japan		1,845		1,745
	$	12,279	$	10,606

Revenue Recognition Policy and Significant Judgments

Product Shipments

Services and Multiple Performance Obligations

Contract Balances

Deferred Revenue

The following table presents the changes in our deferred revenue balance for the three months ended September 30, 2018 (in thousands):

Balance, July 1, 2018	$	480
New performance obligations		37
Recognition of revenue as a result of satisfying performance obligations		(90	)
Balance, September 30, 2018	$	427
Less: non-current portion of deferred revenue		(166	)
Current portion, September 30, 2018	$	261

We expect to recognize substantially all of the non-current portion of deferred revenue over the next two to three years.

Costs to Obtain or Fulfill a Contract with a Customer

Adoption of New Revenue Standard and Change in Accounting Policy

The following table summarizes the significant changes to our accompanying unaudited condensed consolidated balance sheet in connection with adopting ASC 606:

	Balance at			ASC 606 Adoption			Balance at
	June 30, 2018			Adjustments			July 1, 2018
	(In thousands)
Assets:
Accounts receivable, net	$	4,244		$	1,177		$	5,421
Inventories, net		8,439			(462	)		7,977
Prepaid expenses and other current assets		370			93			463

Liabilities and Shareholders' Equity
Other current liabilities	$	2,877		$	226		$	3,103
Accumulated deficit		(189,555	)		582			(188,973	)

The following tables summarize the significant impacts of adopting ASC 606 on our financial statements as of September 30, 2018 and for the three months ended September 30, 2018:

Condensed Consolidated Balance Sheet

	September 30, 2018
	As Reported			Impact of Adoption			Balances Without Adoption of ASC 606
	(In thousands)
Assets:
Accounts receivable, net	$	5,917		$	(2,818	)	$	3,099
Inventories, net		8,032			1,281			9,313
Prepaid expenses and other current assets		794			(191	)		603

Liabilities and Shareholders' Equity
Other current liabilities	$	3,765			(241	)		3,524
Accumulated deficit		(189,056	)		(1,488	)	$	(190,544	)

Condensed Consolidated Statement of Operations

	Three months ended September 30, 2018
	As Reported			Impact of Adoption			Amounts Without Adoption of ASC 606
	(In thousands, except per share amounts)
Net revenue	$	12,279		$	(1,628	)	$	10,651
Cost of revenue		5,538			(721	)		4,817
Selling, general and administrative		4,472			(2	)		4,470
Net loss		(83	)		(906	)		(989	)
Net loss per share - basic and diluted	$	(0.00	)	$	(0.05	)	$	(0.05	)

XML 18 R7.htm IDEA: XBRL DOCUMENT

3. Supplemental Financial Information

3 Months Ended

Sep. 30, 2018

Supplemental Financial Information

Supplemental Financial Information

3.	Supplemental Financial Information

Inventories

Inventories are stated at the lower of cost (first-in, first-out) or net realizable value and consist of the following:

	September 30,		June 30,
	2018		2018
	(In thousands)
Finished goods	$	4,494	$	5,892
Raw materials		3,538		2,547
Inventories, net	$	8,032	$	8,439

Other Liabilities

The following table presents details of our other liabilities:

	September 30,		June 30,
	2018		2018
	(In thousands)
Current
Accrued variable consideration	$	1,167	$	–
Customer deposits and refunds		310		916
Accrued raw materials purchases		618		460
Deferred revenue		261		305
Capital lease obligations		42		55
Taxes payable		305		296
Accrued operating expenses		1,062		845
Total other current liabilities	$	3,765	$	2,877

Non-current
Deferred rent	$	115	$	137
Deferred revenue		166		175
Capital lease obligations		2		4
Total other non-current liabilities	$	283	$	316

Computation of Net Loss per Share

Basic and diluted net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the applicable period.

The following table presents the computation of net loss per share:

	Three Months Ended
	September 30,
	2018			2017
	(In thousands, except per share data)
Numerator:
Net loss	$	(83	)	$	(641	)
Denominator:
Weighted-average common shares outstanding - basic and diluted		19,323			17,867

Net loss per share - basic and diluted	$	(0.00	)	$	(0.04	)

	Three Months Ended
	September 30,
	2018		2017
	(In thousands)
Common stock equivalents		1,828		1,700

Severance and Related Charges

Current Fiscal Year

The following table presents details of the liability we recorded related to these activities:

	Three Months Ended
	September 30,
	2018
	(In thousands)
Beginning balance	$	–
Charges		323
Payments		(113	)
Ending balance	$	210

The ending balance is recorded in accrued payroll and related expenses on the accompanying unaudited condensed consolidated balance sheet at September 30, 2018.

Prior Fiscal Year

Supplemental Cash Flow Information

The following table presents non-cash investing transactions excluded from the accompanying unaudited condensed consolidated statements of cash flows:

	Three Months Ended
	September 30,
	2018		2017
	(In thousands)
Accrued property and equipment paid for in the subsequent period	$	33	$	–

XML 19 R8.htm IDEA: XBRL DOCUMENT

4. Warranty Reserve

3 Months Ended

Sep. 30, 2018

Product Warranties Disclosures [Abstract]

Warranty Reserve

4.	Warranty Reserve

The following table presents details of our warranty reserve:

	Three Months Ended			Year Ended
	September 30,			June 30,
	2018			2018
	(In thousands)
Beginning balance	$	99		$	125
Charged to cost of revenue		4			168
Usage		(11	)		(194	)
Ending balance	$	92		$	99

XML 20 R9.htm IDEA: XBRL DOCUMENT

5. Bank Line of Credit

3 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Bank Line of Credit

5.	Bank Line of Credit

XML 21 R10.htm IDEA: XBRL DOCUMENT

6. Stockholders' Equity

3 Months Ended

Sep. 30, 2018

Equity [Abstract]

Stockholders' Equity

6.	Stockholders’ Equity

Public Offering

On October 19, 2018, we sold an additional 100,000 shares to the public at a price of $4.00 per share and received proceeds net of underwriting discounts and expenses of approximately $366,000.

Stock Incentive Plans

Stock Options

The following table presents a summary of activity during the three months ended September 30, 2018 with respect to our stock options:

				Weighted-
				Average
	Number of			Exercise Price
	Shares			per Share
	(In thousands)
Balance of options outstanding at June 30, 2018		3,931		$	1.73
Granted		20			3.60
Forfeited		(79	)		1.85
Expired		(3	)		1.63
Exercised		(393	)		1.79
Balance of options outstanding at September 30, 2018		3,476		$	1.73

Restricted Stock Units

The following table presents a summary of activity during the three months ended September 30, 2018 with respect to our RSUs:

				Weighted-
				Average
				Grant Date
	Number of			Fair Value
	Shares			per Share
		(In thousands)
Balance of RSUs outstanding at June 30, 2018		140		$	1.51
Granted		598			5.25
Vested		(44	)		1.23
Forfeited		(11	)		1.37
Balance of RSUs outstanding at September 30, 2018		683		$	4.80

Employee Stock Purchase Plan

The following table presents a summary of activity under our ESPP during the three months ended September 30, 2018:

	Number of
	Shares
	(In thousands)
Shares available for issuance at June 30, 2018		148
Shares issued		–
Shares available for issuance at September 30, 2018		148

Share-Based Compensation Expense

The following table presents a summary of share-based compensation expense included in each functional line item on our accompanying unaudited condensed consolidated statements of operations:

	Three Months Ended
	September 30,
	2018		2017
	(In thousands)
Cost of revenue	$	17	$	13
Selling, general and administrative		400		212
Research and development		61		47
Total share-based compensation expense	$	478	$	272

The following table presents the remaining unrecognized share-based compensation expense related to our outstanding share-based awards as of September 30, 2018:

	Remaining		Remaining
	Unrecognized		Weighted-
	Compensation		Average Years
	Expense		To Recognize
	(In thousands)
Stock options	$	1,337		2.3
RSUs		3,157		3.6
Stock purchase rights under ESPP		190		1.3
	$	4,684

XML 22 R11.htm IDEA: XBRL DOCUMENT

7. Income Taxes

3 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

Income Taxes

7.	Income Taxes

We utilize the liability method of accounting for income taxes. The following table presents our effective tax rates based upon our provision for income taxes for the periods shown:

	Three Months Ended
	September 30,
	2018		2017
Effective tax rate		93%		4%

XML 23 R12.htm IDEA: XBRL DOCUMENT

8. Commitments and Contingencies

3 Months Ended

Sep. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

8.	Commitments and Contingencies

XML 24 R13.htm IDEA: XBRL DOCUMENT

1. Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
The Company	The Company Lantronix, Inc., which we refer to herein as the Company, Lantronix, we, our, or us, is a global provider of secure data access and management solutions for Internet of Things (“IoT”) assets. Our mission is to be the leading supplier of IoT and related Information Technology (“IT”) management solutions that enable companies to dramatically simplify the creation, deployment, and management of IoT projects while providing secure access to data for applications and people.
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Lantronix have been prepared in accordance with United States generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Securities and Exchange Commission (“SEC”) Regulation S-X. Accordingly, they should be read in conjunction with the audited consolidated financial statements and notes thereto for the fiscal year ended June 30, 2018, included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2018, which was filed with the SEC on August 23, 2018. The unaudited condensed consolidated financial statements contain all normal recurring accruals and adjustments that in the opinion of management, are necessary to present fairly the consolidated financial position of Lantronix at September 30, 2018, and the consolidated results of our operations and cash flows for the three months ended September 30, 2018. All intercompany accounts and transactions have been eliminated. Accounting measurements at interim dates inherently involve greater reliance on estimates than at year-end. The results of operations for the three months ended September 30, 2018 are not necessarily indicative of the results to be expected for the full year or any future interim periods.
Reclassifications	Reclassifications Certain reclassifications have been made to the prior fiscal year financial information to conform with the current fiscal year presentation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Shared-Based Compensation In June 2018, the Financial Accounting Standards Board (“FASB”) issued an accounting standard that expands the scope of existing share-based compensation guidance for employees. The new standard will include share-based payment transactions for acquiring goods and services from nonemployees, whereby share-based payments to nonemployees will be measured and recorded at the fair value of the equity instruments that an entity is obligated to issue on the grant date. Entities are required to adopt the standard using a modified retrospective approach with a cumulative adjustment to opening retained earnings in the year of adoption for the remeasurement of liability-classified awards that have not been settled by the date of adoption and equity-classified awards for which a measurement date has not been established. The standard will be effective for Lantronix in the fiscal year beginning July 1, 2019, with early adoption permitted. We are currently evaluating this guidance and currently do not anticipate that adoption will have a material impact on our consolidated financial statements. Leases In February 2016, FASB issued an accounting standard that revises lease accounting guidance. Most prominent among the changes in the standard is the recognition of right-of-use (“ROU”) assets and lease liabilities by lessees for those leases classified as operating leases under the existing guidance. The standard requires entities to recognize and measure leases existing at, or entered into after, the beginning of the earliest comparative period presented using a modified retrospective approach, with certain practical expedients available. In July 2018, FASB issued a practical expedient that would allow entities the option to apply the provisions of the new lease guidance at the effective date of adoption without adjusting the comparative periods presented. The standard will be effective for Lantronix in the fiscal year beginning July 1, 2019, with early adoption permitted. While we are continuing to assess the potential impacts of this standard, we currently expect the most significant impact on our financial statements will be the recognition of ROU assets and lease liabilities for our operating leases. We have not yet determined which practical expedients we intend to utilize in connection with adopting the new standard, nor have we determined any quantitative impacts on our financial statements. Revenue from Contracts with Customers Refer to Note 2 below regarding our adoption of the new revenue standard under FASB’s Accounting Standards Codification 606: Revenue from Contract with Customers (“ASC 606”).

XML 25 R14.htm IDEA: XBRL DOCUMENT

2. Revenue Recognition (Tables)

3 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Net revenue by product lines

	Three Months Ended September 30,
	2018		2017
	(In thousands)
IoT	$	8,967	$	8,458
IT Management		3,101		1,789
Other		211		359
	$	12,279	$	10,606

Net revenue by geographic region

	Three Months Ended September 30,
	2018		2017
	(In thousands)
Americas	$	6,914	$	5,697
EMEA		3,520		3,164
Asia Pacific Japan		1,845		1,745
	$	12,279	$	10,606

Changes in deferred revenue

Balance, July 1, 2018	$	480
New performance obligations		37
Recognition of revenue as a result of satisfying performance obligations		(90	)
Balance, September 30, 2018	$	427
Less: non-current portion of deferred revenue		(166	)
Current portion, September 30, 2018	$	261

Effect of changes from adopting ASC 606

	Balance at			ASC 606 Adoption			Balance at
	June 30, 2018			Adjustments			July 1, 2018
	(In thousands)
Assets:
Accounts receivable, net	$	4,244		$	1,177		$	5,421
Inventories, net		8,439			(462	)		7,977
Prepaid expenses and other current assets		370			93			463

Liabilities and Shareholders' Equity
Other current liabilities	$	2,877		$	226		$	3,103
Accumulated deficit		(189,555	)		582			(188,973	)

The following tables summarize the significant impacts of adopting ASC 606 on our financial statements as of September 30, 2018 and for the three months ended September 30, 2018:

Condensed Consolidated Balance Sheet

	September 30, 2018
	As Reported			Impact of Adoption			Balances Without Adoption of ASC 606
	(In thousands)
Assets:
Accounts receivable, net	$	5,917		$	(2,818	)	$	3,099
Inventories, net		8,032			1,281			9,313
Prepaid expenses and other current assets		794			(191	)		603

Liabilities and Shareholders' Equity
Other current liabilities	$	3,765			(241	)		3,524
Accumulated deficit		(189,056	)		(1,488	)	$	(190,544	)

Accounts receivable, net and inventories, net, as reported, at September 30, 2018 differ from the balances that would have been recorded without the adoption of ASC 606 since we no longer record deferred revenue and inventory balances for products held at certain distributor customers awaiting sell-through. Additionally, under ASC 606 we record contract assets and contract liabilities as estimates for variable consideration, which are recorded to prepaid expenses and other current assets and other current liabilities, respectively. The accumulated deficit balance, as reported, differs from the balance without the adoption of ASC 606 as a result of the adjustments discussed above.

Condensed Consolidated Statement of Operations

	Three months ended September 30, 2018
	As Reported			Impact of Adoption			Amounts Without Adoption of ASC 606
	(In thousands, except per share amounts)
Net revenue	$	12,279		$	(1,628	)	$	10,651
Cost of revenue		5,538			(721	)		4,817
Selling, general and administrative		4,472			(2	)		4,470
Net loss		(83	)		(906	)		(989	)
Net loss per share - basic and diluted	$	(0.00	)	$	(0.05	)	$	(0.05	)

XML 26 R15.htm IDEA: XBRL DOCUMENT

3. Supplemental Financial Information (Tables)

3 Months Ended

Sep. 30, 2018

Supplemental Financial Information

Schedule of Inventory

	September 30,		June 30,
	2018		2018
	(In thousands)
Finished goods	$	4,494	$	5,892
Raw materials		3,538		2,547
Inventories, net	$	8,032	$	8,439

Schedule of Other Liabilities

	September 30,		June 30,
	2018		2018
	(In thousands)
Current
Accrued variable consideration	$	1,167	$	–
Customer deposits and refunds		310		916
Accrued raw materials purchases		618		460
Deferred revenue		261		305
Capital lease obligations		42		55
Taxes payable		305		296
Accrued operating expenses		1,062		845
Total other current liabilities	$	3,765	$	2,877

Non-current
Deferred rent	$	115	$	137
Deferred revenue		166		175
Capital lease obligations		2		4
Total other non-current liabilities	$	283	$	316

Schedule of Computation of Net Loss per Share

	Three Months Ended
	September 30,
	2018			2017
	(In thousands, except per share data)
Numerator:
Net loss	$	(83	)	$	(641	)
Denominator:
Weighted-average common shares outstanding - basic and diluted		19,323			17,867

Net loss per share - basic and diluted	$	(0.00	)	$	(0.04	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

	Three Months Ended
	September 30,
	2018		2017
	(In thousands)
Common stock equivalents		1,828		1,700

Schedule of severance and related charges

	Three Months Ended
	September 30,
	2018
	(In thousands)
Beginning balance	$	–
Charges		323
Payments		(113	)
Ending balance	$	210

Schedule of Supplemental Cash Flow Information

	Three Months Ended
	September 30,
	2018		2017
	(In thousands)
Accrued property and equipment paid for in the subsequent period	$	33	$	–

XML 27 R16.htm IDEA: XBRL DOCUMENT

4. Warranty Reserve (Tables)

3 Months Ended

Sep. 30, 2018

Product Warranties Disclosures [Abstract]

Schedule of warranty reserve

	Three Months Ended			Year Ended
	September 30,			June 30,
	2018			2018
	(In thousands)
Beginning balance	$	99		$	125
Charged to cost of revenue		4			168
Usage		(11	)		(194	)
Ending balance	$	92		$	99

XML 28 R17.htm IDEA: XBRL DOCUMENT

6. Stockholders' Equity (Tables)

3 Months Ended

Sep. 30, 2018

Schedule of share-based compensation expense

	Three Months Ended
	September 30,
	2018		2017
	(In thousands)
Cost of revenue	$	17	$	13
Selling, general and administrative		400		212
Research and development		61		47
Total share-based compensation expense	$	478	$	272

Schedule of unrecognized share-based compensation expense

	Remaining		Remaining
	Unrecognized		Weighted-
	Compensation		Average Years
	Expense		To Recognize
	(In thousands)
Stock options	$	1,337		2.3
RSUs		3,157		3.6
Stock purchase rights under ESPP		190		1.3
	$	4,684

Stock Options [Member]

Summary of stock option activity

				Weighted-
				Average
	Number of			Exercise Price
	Shares			per Share
	(In thousands)
Balance of options outstanding at June 30, 2018		3,931		$	1.73
Granted		20			3.60
Forfeited		(79	)		1.85
Expired		(3	)		1.63
Exercised		(393	)		1.79
Balance of options outstanding at September 30, 2018		3,476		$	1.73

Restricted Stock Units (RSUs) [Member]

Summary of other-than-option activity

				Weighted-
				Average
				Grant Date
	Number of			Fair Value
	Shares			per Share
		(In thousands)
Balance of RSUs outstanding at June 30, 2018		140		$	1.51
Granted		598			5.25
Vested		(44	)		1.23
Forfeited		(11	)		1.37
Balance of RSUs outstanding at September 30, 2018		683		$	4.80

ESPP [Member]

Summary of other-than-option activity

	Number of
	Shares
	(In thousands)
Shares available for issuance at June 30, 2018		148
Shares issued		–
Shares available for issuance at September 30, 2018		148

XML 29 R18.htm IDEA: XBRL DOCUMENT

7. Income Taxes (Tables)

3 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate

	Three Months Ended
	September 30,
	2018		2017
Effective tax rate		93%		4%

XML 30 R19.htm IDEA: XBRL DOCUMENT

2. Revenue Recognition (Details - Revenue by product) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Revenues	$ 12,279	$ 10,606
IoT Revenue [Member]
Revenues	8,967	8,458
IT Management [Member]
Revenues	3,101	1,789
Other Revenue [Member]
Revenues	$ 211	$ 359

XML 31 R20.htm IDEA: XBRL DOCUMENT

2. Revenue Recognition (Details - Revenue by geographic region) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Revenues	$ 12,279	$ 10,606
Americas [Member]
Revenues	6,914	5,697
E M E A [Member]
Revenues	3,520	3,164
Asia Pacific [Member]
Revenues	$ 1,845	$ 1,745

XML 32 R21.htm IDEA: XBRL DOCUMENT

2. Revenue Recognition (Details - Deferred Revenue) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2018	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Deferred revenue, beginning balance	$ 480
New performance obligations	37
Recognition of revenue as a result of satisfying performance obligations	(90)
Deferred revenue, ending balance	427
Deferred revenue, non-current portion	(166)	$ (175)
Deferred revenue, current portion	$ 261	$ 305

XML 33 R22.htm IDEA: XBRL DOCUMENT

2. Revenue Recognition (Details - ASC 606 changes to BS) - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018
Assets:
Accounts receivable, net	$ 5,917	$ 4,244
Inventories, net	8,032	8,439
Prepaid expenses and other current assets	794	370
Liabilities and Shareholders' Equity
Other current liabilities	3,765	2,877
Accumulated deficit	(189,056)	(189,555)
Without Adoption of ASC 606 [Member]
Assets:
Accounts receivable, net	3,099
Inventories, net	9,313
Prepaid expenses and other current assets	603
Liabilities and Shareholders' Equity
Other current liabilities	3,524
Accumulated deficit	(190,544)
Balance at July 1, 2018 [Member]
Assets:
Accounts receivable, net		5,421
Inventories, net		7,977
Prepaid expenses and other current assets		463
Liabilities and Shareholders' Equity
Other current liabilities		3,103
Accumulated deficit		(188,973)
Impact of Adoption ASC 606 [Member]
Assets:
Accounts receivable, net	(2,818)	1,177
Inventories, net	1,281	(462)
Prepaid expenses and other current assets	(191)	93
Liabilities and Shareholders' Equity
Other current liabilities	(241)	226
Accumulated deficit	$ (1,488)	$ 582

XML 34 R23.htm IDEA: XBRL DOCUMENT

2. Revenue Recognition (Details - ASC 606 changes to IS) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Net revenue	$ 12,279	$ 10,606
Cost of revenue	5,538	5,012
Selling, general and administrative	4,472	3,986
Net loss	$ (83)	$ (641)
Net loss per share - basic and diluted	$ (0.00)	$ (0.04)
Without Adoption of ASC 606 [Member]
Net revenue	$ 10,651
Cost of revenue	4,817
Selling, general and administrative	4,470
Net loss	$ (989)
Net loss per share - basic and diluted	$ (0.05)
Impact of Adoption ASC 606 [Member]
Net revenue	$ (1,628)
Cost of revenue	(721)
Selling, general and administrative	(2)
Net loss	$ (906)
Net loss per share - basic and diluted	$ (0.05)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

XML 35 R24.htm IDEA: XBRL DOCUMENT

3. Supplemental Financial Information (Details - Inventories) - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018
Supplemental Financial Information
Finished goods	$ 4,494	$ 5,892
Raw materials	3,538	2,547
Inventories, net	$ 8,032	$ 8,439

XML 36 R25.htm IDEA: XBRL DOCUMENT

3. Supplemental Financial Information (Details - Other liabilities) - USD ($) $ in Thousands	Sep. 30, 2018	Jun. 30, 2018
Current
Accrued variable consideration	$ 1,167	$ 0
Customer deposits and refunds	310	916
Accrued raw materials purchases	618	460
Deferred revenue	261	305
Capital lease obligations	42	55
Taxes payable	305	296
Acccrued operating expenses	1,062	845
Total other current liabilities	3,765	2,877
Non-current
Deferred rent	115	137
Deferred revenue	166	175
Capital lease obligations	2	4
Total other non-current liabilities	$ 283	$ 316

XML 37 R26.htm IDEA: XBRL DOCUMENT

3. Supplemental Financial Information (Details - Net Loss per Share) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Numerator:
Net loss	$ (83)	$ (641)
Denominator:
Weighted-average common shares outstanding - basic and diluted	19,323	17,867
Effect of dilutive securities:
Stock awards	0	0
Net loss per share - basic and diluted	$ (0.00)	$ (0.04)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

XML 38 R27.htm IDEA: XBRL DOCUMENT

3. Supplemental Financial Information (Details - Equivalents) - shares shares in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Supplemental Financial Information
Common stock equivalents	1,828	1,700

XML 39 R28.htm IDEA: XBRL DOCUMENT

3. Supplemental Financial Information (Details- Severance and related charges) $ in Thousands	3 Months Ended
	Sep. 30, 2018 USD ($)
Supplemental Financial Information
Severance costs, beginning balance	$ 0
Charges	323
Payments	(113)
Severance costs, ending balance	$ 210

XML 40 R29.htm IDEA: XBRL DOCUMENT

3. Supplemental Financial Information (Details- Supplemental Cash Flow Info) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Supplemental Financial Information
Accrued property and equipment paid for in the subsequent period	$ 33	$ 0

XML 41 R30.htm IDEA: XBRL DOCUMENT

3. Supplemental Financial Information (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Labor and related charges	$ 460	$ 527
Severance related costs [Member]
Labor and related charges	323	$ 527
Share-based Compensation [Member]
Labor and related charges	$ 137

XML 42 R31.htm IDEA: XBRL DOCUMENT

4. Warranty Reserve (Details - Warranty reserve) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2018	Jun. 30, 2018
Product Warranties Disclosures [Abstract]
Beginning balance	$ 99	$ 125
Charged to cost of revenue	4	168
Usage	(11)	(194)
Ending balance	$ 92	$ 99

XML 43 R32.htm IDEA: XBRL DOCUMENT

5. Bank Line of Credit and Debt (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2018	Jun. 30, 2018
Debt Disclosure [Abstract]
Credit line maximum borrowing amount	$ 4,000
Maturity date	Sep. 30, 2020
Line of credit outstanding	$ 0	$ 0
Minimum TNW	7,000
Actual TNW	$ 25,212

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

XML 44 R33.htm IDEA: XBRL DOCUMENT

6. Stockholders Equity (Details - Option activity) - Stock Options [Member] shares in Thousands	3 Months Ended
	Sep. 30, 2018 $ / shares shares
Number of shares
Number of Shares Options Outstanding, Beginning \| shares	3,931
Number of Shares Options Granted \| shares	20
Number of Shares Options Forfeited \| shares	(79)
Number of Shares Options Expired \| shares	(3)
Number of Shares Options Exercised \| shares	(393)
Number of Shares Options Outstanding, Ending \| shares	3,476
Weighted Average Exercise Price per share
Exercise Price Outstanding, Beginning \| $ / shares	$ 1.73
Exercise Price Granted \| $ / shares	3.60
Exercise Price Forfeited \| $ / shares	1.85
Exercise Price Expired \| $ / shares	1.63
Exercise Price Exercised \| $ / shares	1.79
Exercise Price Outstanding, Ending \| $ / shares	$ 1.73

XML 45 R34.htm IDEA: XBRL DOCUMENT

6. Stockholders Equity (Details - RSU activity) - Restricted Stock Units (RSUs) [Member] shares in Thousands	3 Months Ended
	Sep. 30, 2018 $ / shares shares
Number of RSU's Shares
Balance of RSU's, beginning \| shares	140
Granted \| shares	598
Vested \| shares	(44)
Forfeited \| shares	(11)
Balance of RSU's, ending \| shares	683
Weighted Average Grant Date Fair Value per share
RSU Shares Weighted-Average Grant-Date Fair Value per Share, beginning \| $ / shares	$ 1.51
RSU Shares Granted, Weighted-Average Grant-Date Fair Value per Share \| $ / shares	5.25
RSU Shares Vested, Weighted-Average Grant-Date Fair Value per Share \| $ / shares	1.23
RSU Shares Forfeited, Weighted-Average Grant-Date Fair Value per Share \| $ / shares	1.37
RSU Shares Weighted-Average Grant-Date Fair Value per Share, ending \| $ / shares	$ 4.80

XML 46 R35.htm IDEA: XBRL DOCUMENT

6. Stockholders Equity (Details - ESPP activity) - ESPP [Member] shares in Thousands	3 Months Ended
	Sep. 30, 2018 shares
Shares available for issuance at beginning of period	148
Shares issued	0
Shares available for issuance at end of period	148

XML 47 R36.htm IDEA: XBRL DOCUMENT

6. Stockholders Equity (Details - Share based compensation) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Total share-based compensation	$ 478	$ 272
Cost of revenue [Member]
Total share-based compensation	17	13
Selling, general and administrative [Member]
Total share-based compensation	400	212
Research and development [Member]
Total share-based compensation	$ 61	$ 47

XML 48 R37.htm IDEA: XBRL DOCUMENT

6. Stockholders Equity (Details - Unrecognized expense) $ in Thousands	3 Months Ended
	Sep. 30, 2018 USD ($)
Unrecognized share-based compensation expense	$ 4,684
Stock Options [Member]
Unrecognized share-based compensation expense	$ 1,337
Weighted average years to recognize	2 years 3 months 18 days
Restricted Stock Units (RSUs) [Member]
Unrecognized share-based compensation expense	$ 3,157
Weighted average years to recognize	3 years 7 months 6 days
ESPP [Member]
Unrecognized share-based compensation expense	$ 190
Weighted average years to recognize	1 year 3 months 18 days

XML 49 R38.htm IDEA: XBRL DOCUMENT

6. Stockholders Equity (Details Narrative) - USD ($) $ in Thousands	3 Months Ended	4 Months Ended
	Sep. 30, 2018	Oct. 19, 2018
Underwriters [Member]
Stock issued new, shares	2,600,000
Proceeds from sale of stock	$ 9,438
Public Offering [Member]
Stock issued new, shares		100,000
Proceeds from sale of stock		$ 366

XML 50 R39.htm IDEA: XBRL DOCUMENT

7. Income Taxes (Details - Effective tax rate)	3 Months Ended
7. Income Taxes (Details - Effective tax rate)	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Effective tax rate	93.00%	4.00%

EXCEL 51 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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how.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 53 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 55 FilingSummary.xml IDEA: XBRL DOCUMENT 3.10.0.1 html 46 151 1 false 19 0 false 4 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://lantronix.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - Unaudited Condensed Consolidated Balance Sheets Sheet http://lantronix.com/role/UnauditedCondensedConsolidatedBalanceSheets Unaudited Condensed Consolidated Balance Sheets Statements 2 false false R3.htm 00000003 - Statement - Unaudited Condensed Consolidated Statements of Operations Sheet http://lantronix.com/role/UnauditedCondensedConsolidatedStatementsOfOperations Unaudited Condensed Consolidated Statements of Operations Statements 3 false false R4.htm 00000004 - Statement - Unaudited Condensed Consolidated Statements of Cash Flows Sheet http://lantronix.com/role/UnauditedCondensedConsolidatedStatementsOfCashFlows Unaudited Condensed Consolidated Statements of Cash Flows Statements 4 false false R5.htm 00000005 - Disclosure - 1. Summary of Significant Accounting Policies Sheet http://lantronix.com/role/SummaryOfSignificantAccountingPolicies 1. Summary of Significant Accounting Policies Notes 5 false false R6.htm 00000006 - Disclosure - 2. Revenue Recognition Sheet http://lantronix.com/role/RevenueRecognition 2. Revenue Recognition Notes 6 false false R7.htm 00000007 - Disclosure - 3. Supplemental Financial Information Sheet http://lantronix.com/role/SupplementalFinancialInformation 3. Supplemental Financial Information Notes 7 false false R8.htm 00000008 - Disclosure - 4. Warranty Reserve Sheet http://lantronix.com/role/WarrantyReserve 4. Warranty Reserve Notes 8 false false R9.htm 00000009 - Disclosure - 5. Bank Line of Credit Sheet http://lantronix.com/role/BankLineOfCredit 5. Bank Line of Credit Notes 9 false false R10.htm 00000010 - Disclosure - 6. Stockholders' Equity Sheet http://lantronix.com/role/StockholdersEquity 6. Stockholders' Equity Notes 10 false false R11.htm 00000011 - Disclosure - 7. Income Taxes Sheet http://lantronix.com/role/IncomeTaxes 7. Income Taxes Notes 11 false false R12.htm 00000012 - Disclosure - 8. Commitments and Contingencies Sheet http://lantronix.com/role/CommitmentsAndContingencies 8. Commitments and Contingencies Notes 12 false false R13.htm 00000013 - Disclosure - 1. Summary of Significant Accounting Policies (Policies) Sheet http://lantronix.com/role/SummaryOfSignificantAccountingPoliciesPolicies 1. Summary of Significant Accounting Policies (Policies) Policies http://lantronix.com/role/SummaryOfSignificantAccountingPolicies 13 false false R14.htm 00000014 - Disclosure - 2. Revenue Recognition (Tables) Sheet http://lantronix.com/role/RevenueRecognitionTables 2. Revenue Recognition (Tables) Tables http://lantronix.com/role/RevenueRecognition 14 false false R15.htm 00000015 - Disclosure - 3. Supplemental Financial Information (Tables) Sheet http://lantronix.com/role/SupplementalFinancialInformationTables 3. Supplemental Financial Information (Tables) Tables http://lantronix.com/role/SupplementalFinancialInformation 15 false false R16.htm 00000016 - Disclosure - 4. Warranty Reserve (Tables) Sheet http://lantronix.com/role/WarrantyReserveTables 4. Warranty Reserve (Tables) Tables http://lantronix.com/role/WarrantyReserve 16 false false R17.htm 00000017 - Disclosure - 6. Stockholders' Equity (Tables) Sheet http://lantronix.com/role/StockholdersEquityTables 6. Stockholders' Equity (Tables) Tables http://lantronix.com/role/StockholdersEquity 17 false false R18.htm 00000018 - Disclosure - 7. Income Taxes (Tables) Sheet http://lantronix.com/role/IncomeTaxesTables 7. Income Taxes (Tables) Tables http://lantronix.com/role/IncomeTaxes 18 false false R19.htm 00000019 - Disclosure - 2. Revenue Recognition (Details - Revenue by product) Sheet http://lantronix.com/role/RevenueRecognitionDetails-RevenueByProduct 2. Revenue Recognition (Details - Revenue by product) Details http://lantronix.com/role/RevenueRecognitionTables 19 false false R20.htm 00000020 - Disclosure - 2. Revenue Recognition (Details - Revenue by geographic region) Sheet http://lantronix.com/role/RevenueRecognitionDetails-RevenueByGeographicRegion 2. Revenue Recognition (Details - Revenue by geographic region) Details http://lantronix.com/role/RevenueRecognitionTables 20 false false R21.htm 00000021 - Disclosure - 2. Revenue Recognition (Details - Deferred Revenue) Sheet http://lantronix.com/role/RevenueRecognitionDetails-DeferredRevenue 2. Revenue Recognition (Details - Deferred Revenue) Details http://lantronix.com/role/RevenueRecognitionTables 21 false false R22.htm 00000022 - Disclosure - 2. Revenue Recognition (Details - ASC 606 changes to BS) Sheet http://lantronix.com/role/RevenueRecognitionDetails-Asc606ChangesToBs 2. Revenue Recognition (Details - ASC 606 changes to BS) Details http://lantronix.com/role/RevenueRecognitionTables 22 false false R23.htm 00000023 - Disclosure - 2. Revenue Recognition (Details - ASC 606 changes to IS) Sheet http://lantronix.com/role/RevenueRecognitionDetails-Asc606ChangesToIs 2. Revenue Recognition (Details - ASC 606 changes to IS) Details http://lantronix.com/role/RevenueRecognitionTables 23 false false R24.htm 00000024 - Disclosure - 3. Supplemental Financial Information (Details - Inventories) Sheet http://lantronix.com/role/SupplementalFinancialInformationDetails-Inventories 3. Supplemental Financial Information (Details - Inventories) Details http://lantronix.com/role/SupplementalFinancialInformationTables 24 false false R25.htm 00000025 - Disclosure - 3. Supplemental Financial Information (Details - Other liabilities) Sheet http://lantronix.com/role/SupplementalFinancialInformationDetails-OtherLiabilities 3. Supplemental Financial Information (Details - Other liabilities) Details http://lantronix.com/role/SupplementalFinancialInformationTables 25 false false R26.htm 00000026 - Disclosure - 3. Supplemental Financial Information (Details - Net Loss per Share) Sheet http://lantronix.com/role/SupplementalFinancialInformationDetails-NetLossPerShare 3. Supplemental Financial Information (Details - Net Loss per Share) Details http://lantronix.com/role/SupplementalFinancialInformationTables 26 false false R27.htm 00000027 - Disclosure - 3. Supplemental Financial Information (Details - Equivalents) Sheet http://lantronix.com/role/SupplementalFinancialInformationDetails-Equivalents 3. Supplemental Financial Information (Details - Equivalents) Details http://lantronix.com/role/SupplementalFinancialInformationTables 27 false false R28.htm 00000028 - Disclosure - 3. Supplemental Financial Information (Details- Severance and related charges) Sheet http://lantronix.com/role/SupplementalFinancialInformationDetails-SeveranceAndRelatedCharges 3. Supplemental Financial Information (Details- Severance and related charges) Details http://lantronix.com/role/SupplementalFinancialInformationTables 28 false false R29.htm 00000029 - Disclosure - 3. Supplemental Financial Information (Details- Supplemental Cash Flow Info) Sheet http://lantronix.com/role/SupplementalFinancialInformationDetails-SupplementalCashFlowInfo 3. Supplemental Financial Information (Details- Supplemental Cash Flow Info) Details http://lantronix.com/role/SupplementalFinancialInformationTables 29 false false R30.htm 00000030 - Disclosure - 3. Supplemental Financial Information (Details Narrative) Sheet http://lantronix.com/role/SupplementalFinancialInformationDetailsNarrative 3. Supplemental Financial Information (Details Narrative) Details http://lantronix.com/role/SupplementalFinancialInformationTables 30 false false R31.htm 00000031 - Disclosure - 4. Warranty Reserve (Details - Warranty reserve) Sheet http://lantronix.com/role/WarrantyReserveDetails-WarrantyReserve 4. Warranty Reserve (Details - Warranty reserve) Details http://lantronix.com/role/WarrantyReserveTables 31 false false R32.htm 00000032 - Disclosure - 5. Bank Line of Credit and Debt (Details Narrative) Sheet http://lantronix.com/role/BankLineOfCreditAndDebtDetailsNarrative 5. Bank Line of Credit and Debt (Details Narrative) Details 32 false false R33.htm 00000033 - Disclosure - 6. Stockholders Equity (Details - Option activity) Sheet http://lantronix.com/role/StockholdersEquityDetails-OptionActivity 6. Stockholders Equity (Details - Option activity) Details 33 false false R34.htm 00000034 - Disclosure - 6. Stockholders Equity (Details - RSU activity) Sheet http://lantronix.com/role/StockholdersEquityDetails-RsuActivity 6. Stockholders Equity (Details - RSU activity) Details 34 false false R35.htm 00000035 - Disclosure - 6. Stockholders Equity (Details - ESPP activity) Sheet http://lantronix.com/role/StockholdersEquityDetails-EsppActivity 6. Stockholders Equity (Details - ESPP activity) Details 35 false false R36.htm 00000036 - Disclosure - 6. Stockholders Equity (Details - Share based compensation) Sheet http://lantronix.com/role/StockholdersEquityDetails-ShareBasedCompensation 6. Stockholders Equity (Details - Share based compensation) Details 36 false false R37.htm 00000037 - Disclosure - 6. Stockholders Equity (Details - Unrecognized expense) Sheet http://lantronix.com/role/StockholdersEquityDetails-UnrecognizedExpense 6. Stockholders Equity (Details - Unrecognized expense) Details 37 false false R38.htm 00000038 - Disclosure - 6. Stockholders Equity (Details Narrative) Sheet http://lantronix.com/role/StockholdersEquityDetailsNarrative 6. Stockholders Equity (Details Narrative) Details 38 false false R39.htm 00000039 - Disclosure - 7. Income Taxes (Details - Effective tax rate) Sheet http://lantronix.com/role/IncomeTaxesDetails-EffectiveTaxRate 7. Income Taxes (Details - Effective tax rate) Details http://lantronix.com/role/IncomeTaxesTables 39 false false All Reports Book All Reports ltrx-20180930.xml ltrx-20180930.xsd ltrx-20180930_cal.xml ltrx-20180930_def.xml ltrx-20180930_lab.xml ltrx-20180930_pre.xml http://xbrl.sec.gov/dei/2018-01-31 http://fasb.org/srt/2018-01-31 http://fasb.org/us-gaap/2018-01-31 true true ZIP 57 0001683168-18-003159-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001683168-18-003159-xbrl.zip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end