AnyVolt Micro is useful when you need to step from a lower voltage to a higher voltage, or when your input voltage occasionally dips below the output voltage.
The output voltage is set with a small screw potentiometer on the side of the AnyVolt Micro. Once the output voltage is set, it does not matter whether input voltage is higher, lower, or the same as the desired output i.e. there is no dropout voltage.
The AnyVolt Micro is pin-compatible with the common 78XX series of linear voltage regulators, so it will work with breadboards and other popular prototyping methods.
AnyVolt Micro is very different from any other DC-DC converter on the market so please read the entire datasheet thoroughly before buying or using one.