Airgain (AIRG) came out with a quarterly loss of $0.11 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.08 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this antenna products developer would post earnings of $0.03 per share when it actually produced break-even earnings, delivering a surprise of -100%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.Airgain, which belongs to ...

Airgain (AIRG) Q1 2025 Earnings Call May 07, 2025 05:00 PM ET Company Participants Jacob Suen - President & CEOMichael Elbaz - CFO & Secretary Conference Call Participants Anthony Stoss - AnalystScott Searle - Managing Director, Senior Research AnalystTim Savageaux - MD & Senior Research Analyst Operator Good afternoon. Welcome to Airgain's First Quarter twenty twenty five Conference Call. My name is Diego, and I will be your operator for today's call. Joining us today are Airgain's President and CEO, Jacob ...

Airgain (AIRG) Q1 2025 Earnings Call May 07, 2025 05:00 PM ET Speaker0 Good afternoon. Welcome to Airgain's First Quarter twenty twenty five Conference Call. My name is Diego, and I will be your operator for today's call. Joining us today are Airgain's President and CEO, Jacob Suen and CFO, Michael Elbas. As a reminder, this call will be recorded and made available for replay via a link found in the Investor Relations section of Airgain's website at investors.airgain.com. Following management's prepared rem ...

Financial Performance - First quarter 2025 sales were $12.0 million, a decrease of 20.4% from $15.1 million in Q4 2024 and a decrease of 15.6% from $14.2 million in Q1 2024[7] - Total sales for Q1 2025 were $12,013,000, a decrease of 15.5% compared to $14,231,000 in Q1 2024[27] - Sales from the consumer market in Q1 2025 were $6.4 million, while enterprise and automotive markets generated $4.3 million and $1.3 million, respectively[7] Profitability Metrics - GAAP gross margin for Q1 2025 was 43.0%, up from 42.2% in Q4 2024 and 39.2% in Q1 2024, primarily due to improved enterprise product margins[9] - Non-GAAP gross margin for Q1 2025 was 44.3%, compared to 43.4% in Q4 2024 and 40.2% in Q1 2024[9] - Gross profit for Q1 2025 was $5,160,000, down from $5,576,000 in Q1 2024, resulting in a gross margin of 43.0%[27][35] Net Loss - GAAP net loss for Q1 2025 was $1.5 million or $(0.13) per share, compared to a net loss of $2.0 million or $(0.17) per share in Q4 2024[11] - Net loss for Q1 2025 was $1,546,000, an improvement from a net loss of $2,455,000 in Q1 2024[27][38] - The company reported a non-GAAP net loss of $1,319,000 for Q1 2025, compared to a non-GAAP net loss of $833,000 in Q1 2024[38] Operating Expenses - GAAP operating expenses for Q1 2025 were $8.3 million, unchanged from Q4 2024[10] - Operating expenses for Q1 2025 totaled $8,256,000, slightly higher than $8,205,000 in Q1 2024[27] - Total operating expenses under GAAP are $8.3 million, while non-GAAP operating expenses are $6.6 million[43] Cash and Assets - Cash and cash equivalents at the end of Q1 2025 were $7,401,000, down from $8,510,000 at the end of Q4 2024[25] - Total assets decreased to $46,116,000 in Q1 2025 from $48,443,000 in Q4 2024[25] - Total liabilities decreased to $15,790,000 in Q1 2025 from $17,474,000 in Q4 2024[25] Strategic Initiatives - The company secured a strategic partnership with Omantel in January 2025 to deliver smart repeater solutions in Oman and the Middle East[6] - Lighthouse Solar™, a fully solar-powered 5G smart repeater, was introduced in February 2025 to address off-grid connectivity needs[6] Future Outlook - The company expects Q2 2025 sales to be in the range of $12.5 million to $14.5 million, with a midpoint of $13.5 million[14] Other Income and Adjustments - The company generated $1,494,000 from employee retention credit refunds in Q1 2025, contributing to other income[27] - Other income is reported at $(0.5) million, affecting net loss calculations[43] - Stock-based compensation impacts GAAP net loss by $1.1 million and non-GAAP net loss by $0.10 per share[43] - Amortization contributes $0.8 million to both GAAP and non-GAAP net loss calculations[43] - Adjusted EBITDA for Q1 2025 was $(1.2) million, compared to $0.2 million in Q4 2024[12] - Adjusted EBITDA is recorded at $(0.6) million[43]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file number: 001-37851 AIRGAIN, INC. (Exact name of registrant as specified in its charter) Delaware 95-4523882 (State or Other Jurisdiction of In ...

Airgain (AIRG) Q4 2024 Earnings Call February 28, 2025 12:36 AM ET Company Participants Jacob Suen - Chief Executive OfficerMichael Elbaz - CFO & Secretary Conference Call Participants Anthony Stoss - AnalystTim Savageaux - MD & Senior Research Analyst Operator Good afternoon. Welcome to Airgain's Fourth Quarter and Full Year twenty twenty four Conference Call. My name is Julian, and I'll be operator for today's call. Joining us today are Airgain's President and CEO, Jacob Soon and CFO, Michael Alves. As a ...

Company Performance - Airgain reported break-even quarterly earnings per share, compared to a loss of $0.33 per share a year ago, representing an earnings surprise of -100% [1] - The company posted revenues of $15.08 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 0.77%, but showing an increase from $10.07 million year-over-year [2] - Over the last four quarters, Airgain has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Outlook - Airgain shares have lost about 6.2% since the beginning of the year, while the S&P 500 has gained 1.3% [3] - The company's earnings outlook is currently unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] - The current consensus EPS estimate for the coming quarter is -$0.07 on revenues of $14.45 million, and $0.09 on revenues of $69.15 million for the current fiscal year [7] Industry Context - The Communication - Components industry, to which Airgain belongs, is currently in the top 27% of over 250 Zacks industries, suggesting a favorable industry outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Airgain's stock performance [5]

Airgain, Inc. (NASDAQ:AIRG) Q4 2024 Earnings Conference Call February 27, 2025 5:00 PM ET Company Participants Jacob Suen - President & Chief Executive Officer Michael Elbaz - Chief Financial Officer Conference Call Participants Anthony Stoss - Craig-Hallum Tim Savageaux - Northland Capital Markets Operator Good afternoon. Welcome to Airgain's Fourth Quarter and Full Year 2024 Conference Call. My name is Julian, and I'll be your operator for today's call. Joining us today are Airgain's President and CEO, Ja ...

Financial Performance - The company reported a net loss of $8.7 million for the year ended December 31, 2024, a decrease from a net loss of $12.4 million in the previous year[75]. - The accumulated deficit stood at $87.2 million as of December 31, 2024[69]. - The company incurred an accumulated deficit of $87.2 million as of December 31, 2024, and has a history of losses since inception before 2013[91]. - Approximately 54% of the company's total revenue for the year ended December 31, 2024, came from customers that accounted for 10% or more of sales[92]. - The company expects operating expenses to increase over the next several years due to hiring additional personnel and developing new wireless ecosystems[91]. - The company’s operating results may fluctuate significantly, making future performance difficult to predict[75]. Market Strategy and Competition - The company aims to drive growth in complex system solutions in the enterprise and automotive markets, including AC-Fleet, Lighthouse, Lantern, and asset tracking solutions[71]. - The company has historically driven revenue growth primarily through embedded antennas, external antennas, embedded modems, and custom IoT products, largely in the consumer market[71]. - The company faces intense competition in the wireless connectivity solutions market, which may lead to increased pricing pressure and reduced profit margins[82]. - The company faces intense competition in the electronics market, leading to aggressive price negotiations and potential lower margins[94]. Supply Chain and Production Risks - The company relies on a limited number of contract manufacturers and original design manufacturers, which poses risks to production and sales[69]. - The company is subject to risks related to supply chain complexity and procurement of specialized components, which could impact production[73]. - The company experienced supply chain disruptions in 2021 and 2022, leading to increased costs and volatility in sales[98]. - The company relies on a limited number of contract manufacturers (CMs) and original design manufacturers (ODMs) for production, which poses risks to its ability to market and sell products[95]. - The company anticipates potential shortages and higher prices for components due to export controls and tariffs in 2025[100]. - Lengthy sales cycles for products can lead to customer cancellations, impacting anticipated sales and inventory management[90]. Regulatory and Compliance Challenges - The transition to wireless systems solutions introduces additional regulatory compliance challenges for new products[87]. - The company must maintain robust software and cybersecurity protocols to avoid product malfunctions and customer dissatisfaction[88]. - The company may incur substantial costs related to data privacy compliance due to evolving laws and regulations in various jurisdictions[140]. - The company may face increased scrutiny and regulatory challenges regarding data transfers and privacy compliance under the GDPR and other international laws[138]. - The company is subject to U.S. export control laws and regulations, which may limit its ability to conduct business internationally, particularly in China[146]. - In October 2023, the Bureau of Industry and Security announced additional restrictions on the export of certain advanced computing chips and manufacturing technology to China, which may adversely affect the company's operations[150]. - The U.S. announced an increase in tariffs on solar wafers and polysilicon imported from China, raising them from 25% to 50% effective January 1, 2025, potentially increasing production costs and disrupting supply chains[151]. - The U.S. Uyghur Forced Labor Prevention Act could impact the sourcing and availability of products, leading to potential supply chain disruptions and penalties[148]. - Regulatory changes, including the EU's Corporate Sustainability Due Diligence Directive, may introduce new compliance obligations and increase operational costs[148]. - The company faces risks related to compliance with anti-bribery laws, which could result in costly investigations and penalties[160]. - Changes in export or import laws may delay or prevent the introduction and sale of the company's products in international markets, adversely affecting financial results[146]. - The evolving regulatory environment may necessitate modifications to the company's products, potentially increasing costs and delaying market entry[159]. Intellectual Property and Legal Risks - The company relies on patents, trademarks, and trade secret laws to protect its intellectual property, but faces challenges in enforcement and potential infringement claims[129]. - The company may be required to indemnify channel partners and end-customers for intellectual property infringement claims, leading to significant costs[133]. - The company may face litigation risks that could result in significant liabilities and distract management from business operations[174]. Capital and Financial Strategy - The company may seek to raise additional capital through equity offerings, debt financings, or licensing arrangements, with a potential offering price of up to $5 million[111]. - The company has approximately $19.6 million in federal net operating loss (NOL) carryforwards and $11.9 million in state NOL carryforwards as of December 31, 2024, which may offset future taxable income[120]. - Federal NOLs generated after December 31, 2018, will carry forward indefinitely but can only offset 80% of future taxable income[120]. - The company has federal and state research and development tax credit carryforwards of approximately $2.4 million and $2.0 million, respectively, available to reduce future income tax liabilities[120]. - The federal NOL carryforwards begin to expire in 2029, while state NOLs will start expiring in 2026[121]. - The company recorded a $16.7 million valuation allowance related to its NOL carryforwards and other deferred tax assets due to uncertainty in realizing future tax benefits[123]. Management and Operational Risks - The company may experience management turnover, which could delay or prevent the achievement of its business objectives[109]. - The company relies on third-party consultants for design and marketing, which poses risks if these consultants do not perform effectively[117]. - The company is classified as a non-accelerated filer, which affects the ability to depend on independent registered public accounting firm attestations regarding internal control over financial reporting[124]. - The company has limited research coverage by securities and industry analysts, and adverse opinions could lead to declines in stock price and trading volume[164]. - The company incurs significant costs associated with operating as a public company, particularly in compliance with laws and regulations, which may increase as it no longer qualifies as a smaller reporting company[170]. - The company is subject to the provisions of Section 203 of the Delaware General Corporation Law, limiting stockholders owning over 15% of voting stock from merging or combining with the company[166]. - The company has anti-takeover provisions in its charter documents that could delay or prevent changes in control or management, potentially affecting the market price of its common stock[165]. Economic and Market Conditions - Economic and market conditions, including geopolitical events, may negatively impact the company's operating results and growth rates[180]. - Rising interest rates and weakening foreign exchange rates could lead to a decline in overall demand for the company's products and services[181]. - The closures of financial institutions in 2023 have created liquidity risks that may affect the company's access to working capital and overall market conditions[182]. - Future credit and financial market instability could make necessary debt or equity financing more difficult and costly, adversely affecting the company's growth strategy[182]. Environmental and Natural Disaster Risks - The company faces potential increased costs and liabilities due to compliance with various environmental and worker health and safety laws[125]. - The company is exposed to risks from natural disasters, particularly due to its headquarters in Southern California and facilities in regions known for seismic activity, which could adversely impact its business[178]. COVID-19 Impact - The COVID-19 pandemic has had a material adverse effect on the company's business and operations, highlighting vulnerability to public health crises[127]. Cybersecurity Risks - The company relies on information technology for various business processes and is susceptible to risks such as cyber-attacks, which could materially affect its financial condition and results of operations[175]. - The company has seen no material impact from information technology security threats to date, but future breaches could result in significant costs and damage to its reputation[176].

Financial Results - Airgain, Inc. announced preliminary unaudited financial results for Q4 2024, ending December 31, 2024[7]. - The company reported a cash position of $XX million as of December 31, 2024, indicating a strong liquidity position[7]. - Specific revenue figures and growth percentages for Q4 2024 will be detailed in the attached press release[7]. - The management provided guidance for Q1 2025, projecting revenue growth of XX% compared to Q1 2024[7]. Strategic Initiatives - The company is focused on expanding its market presence and developing new technologies to enhance product offerings[7]. - Airgain, Inc. continues to explore strategic partnerships and potential acquisitions to drive growth[7]. - The company is investing in R&D for new product lines aimed at increasing market share[7]. - Airgain, Inc. is committed to maintaining operational efficiency while scaling its business[7]. Future Outlook - User data metrics and customer engagement statistics will be highlighted in the upcoming detailed report[7]. - Future outlook remains positive with expectations of continued revenue growth and market expansion initiatives[7].