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Lantronix ( NASDAQ: LTRX ) said Wednesday it received and executed a production contract worth $40 million to deliver quantum edge units to its customer Gridspertise.
Lantronix said it currently expects second quarter revenue between $31 million and $32 million, and revenue of $135 million to $145 million for 2023, up about 4% to 12% year over year.
The consensus estimate for Q2 revenue is $35.4 million and $159.3 million for 2023.
Stock rose nearly 5% in after hours at $4.60 before paring gains.