Sales Performance - Third-quarter 2024 sales reached $16.1 million, a 6.0% increase from the previous quarter and a 17.6% increase year-over-year[1] - Consumer market sales contributed $6.8 million, enterprise market sales contributed $6.7 million, and automotive market sales contributed $2.6 million in Q3 2024[2] - Total sales for the three months ended September 30, 2024, were $16,101,000, representing a 17.8% increase from $13,696,000 in the same period of 2023[15] - Fourth-quarter 2024 sales are expected to be in the range of $16.2 million to $18.2 million, with a midpoint of $17.2 million[5] Gross Margin - GAAP gross margin for Q3 2024 was 41.7%, up from 40.5% in Q2 2024 and 38.2% in Q3 2023[3] - Non-GAAP gross margin for Q3 2024 was 42.8%, compared to 41.5% in Q2 2024 and 39.1% in Q3 2023[3] - Gross profit for the three months ended September 30, 2024, was $6,714,000, up from $5,236,000 in the prior year, resulting in a gross margin of 41.7%[19][20] - Non-GAAP gross profit for the three months ended September 30, 2024, was $6,899,000, compared to $5,354,000 in the same period of 2023[19] Net Income and Loss - GAAP net loss for Q3 2024 was $1.8 million, or $(0.16) per share, an improvement from a net loss of $2.5 million in Q2 2024[4] - Non-GAAP net income for Q3 2024 was $6,000, or $0.00 per share, compared to a non-GAAP net loss of $0.6 million in Q2 2024[4] - The company reported a basic net loss per share of $0.16 for the three months ended September 30, 2024, compared to a loss of $0.18 in the same period of 2023[15] - Non-GAAP net loss attributable to common stockholders was $557 million for the three months ended September 30, 2024, compared to a loss of $668 million in the same period of 2023, reflecting a 16.6% improvement[23] - The company reported a total net loss of $6.725 billion for the nine months ended September 30, 2024, compared to a loss of $6.944 billion for the same period in 2023, indicating a decrease of about 3.2%[23] Operating Expenses - Non-GAAP operating expenses for Q4 2024 are expected to be approximately $7.2 million[5] - Total operating expenses for the three months ended September 30, 2024, were $8,528,000, compared to $7,146,000 in the same period of 2023, indicating an increase of 19.3%[15] - Research and development expenses increased to $2,855,000 for the three months ended September 30, 2024, compared to $2,298,000 in the same period of 2023, reflecting a 24.2% rise[15] - The company anticipates GAAP operating expenses of $8.8 billion for the three months ended December 31, 2024, with non-GAAP operating expenses projected at $7.2 billion[26] Future Projections - GAAP net loss per share for Q4 2024 is expected to be $(0.13) at the midpoint[5] - Non-GAAP net income is projected to be $200 million for the three months ended December 31, 2024, with a non-GAAP net income per share of $0.02[27] - The GAAP gross margin for the three months ended December 31, 2024, is projected to be 41.9%, with a non-GAAP gross margin expected to be 43.0%[26]

Group 1: Product Launch and Features - Airgain, Inc. has launched the AT-Flight asset tracker aimed at the healthcare and life sciences IoT sectors, addressing the need for real-time tracking of high-value, temperature-sensitive assets in cold chain logistics [1] - The AT-Flight integrates AI with ambient sensor technology, complying with U.S. FAA regulations, which enhances operational efficiency by automating flight event detection and switching to airplane mode [2] - The device boasts an extended battery life, reducing the need for frequent changes and operational disruptions, and includes flight-approved battery options suitable for air transportation [3] - It can operate in temperatures as low as -20°C, making it ideal for tracking sensitive medical goods like vaccines [4] Group 2: Market Strategy and Financial Outlook - The AT-Flight utilizes various location technologies, including GPS and real-time cellular triangulation, allowing businesses to customize tracking options, which aligns with Airgain's strategy to expand in high-value IoT markets [5] - The device has received critical industry certifications such as PTCRB, FCC, and DO-160, with ongoing efforts to secure further approvals from major U.S. and European airlines, which is expected to drive demand and revenue growth [6] - Airgain's stock has increased by 354.5% over the past year, significantly outperforming the industry growth of 83% [7]

Core Insights - Airgain, Inc. has received certifications for its AirgainConnect Fleet 5G Vehicle Gateway from major carriers such as AT&T and T-Mobile, enabling compliance and interoperability across North America [1] - The AirgainConnect Fleet features a compact design that integrates multiple technologies, providing optimized wireless performance and significant cost savings compared to traditional solutions [2] - Recent accreditations are expected to enhance Airgain's market position and drive revenue growth, positively impacting its stock performance [3][4] Company Overview - Airgain specializes in integrated wireless solutions, offering customizable antenna products that address connectivity needs across various markets, including automotive and consumer sectors [3] - The company has demonstrated strong stock performance, gaining 125% over the past year, significantly outperforming the industry growth of 13.3% [4] Competitive Position - Airgain holds a Zacks Rank of 2 (Buy), indicating positive market sentiment towards its stock [5] - Ubiquiti Inc., another player in the networking solutions space, currently holds a Zacks Rank of 1 (Strong Buy), showcasing a robust business model and effective management strategies [5]

Core Viewpoint - The article emphasizes the importance of identifying and sustaining stock price trends for successful short-term investing, highlighting the utility of a "Recent Price Strength" screen to find stocks with strong fundamentals and upward momentum [1]. Group 1: Stock Performance - Airgain (AIRG) has shown a solid price increase of 35.1% over the past 12 weeks, indicating strong investor interest [2]. - The stock has also maintained a price increase of 2.9% over the last four weeks, suggesting that the upward trend is still intact [2]. - AIRG is currently trading at 94.3% of its 52-week high-low range, indicating a potential breakout [2]. Group 2: Fundamental Strength - AIRG holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [3]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [3]. Group 3: Investment Strategy - The article suggests that investors may consider other stocks that pass the "Recent Price Strength" screen, in addition to AIRG, to identify potential winning stock picks [4]. - It also mentions the availability of over 45 Zacks Premium Screens tailored to different investing styles, which can help in finding stocks that have historically produced profitable results [4].

Group 1 - Airgain (AIRG) has returned 115.7% year-to-date, significantly outperforming the Computer and Technology sector's average return of 21.8% [2] - The Zacks Consensus Estimate for AIRG's full-year earnings has increased by 5.4%, indicating stronger analyst sentiment and an improving earnings outlook [2] - Airgain is ranked 2 (Buy) in the Zacks Rank system, which focuses on earnings estimates and revisions [1] Group 2 - Airgain is part of the Communication - Components industry, which has an average gain of 42.8% year-to-date, indicating that AIRG is performing well within its industry [3] - The Zacks Industry Rank places the Communication - Components industry at 8, while the Internet - Software industry, which includes AudioEye (AEYE), is ranked 92 [3] - AudioEye has achieved a year-to-date return of 346.7% and has a Zacks Rank of 1 (Strong Buy) with a 45% increase in its consensus EPS estimate over the past three months [2][3]

Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- ...

Core Viewpoint - The article emphasizes the importance of confirming the sustainability of stock trends for profitable short-term investing, highlighting the need for sound fundamentals and positive earnings estimates to maintain momentum in stock prices [1]. Group 1: Stock Performance - Airgain (AIRG) has shown a solid price increase of 43.6% over the past 12 weeks, indicating strong investor interest [2]. - The stock has also maintained a price increase of 11.3% over the last four weeks, suggesting that the upward trend is still intact [2]. - AIRG is currently trading at 94.6% of its 52-week high-low range, indicating a potential breakout [2]. Group 2: Fundamental Strength - AIRG holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [3]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [3]. Group 3: Investment Strategy - The article suggests that investors can utilize the "Recent Price Strength" screen to identify stocks like AIRG that are on an upward trend supported by strong fundamentals [1][4]. - It also mentions the availability of over 45 Zacks Premium Screens tailored to different investing styles, which can help in finding winning stock picks [4].

Innovation always moves forward: that’s the driving narrative behind tech stocks to buy on discount. No, I’m not going to blow smoke. It really stinks to lose money on your favorite ideas, especially during these severe broader downcycles. But here’s the thing. You can mope around and feel bad about the situation. Or you can grab some compelling discounts that are now available.To better gauge what’s a true deal from something that’s merely cheap, I’m going to focus heavily on valuations, particularly sales ...

Financial Data and Key Metrics Changes - In Q2 2024, Airgain reported sales of $15.2 million, a 7% increase year-over-year, driven by higher consumer market sales [9][24] - Gross margin for Q2 was 41.5%, up 130 basis points sequentially and 110 basis points year-over-year, attributed to improved margins in automotive and enterprise markets [26] - Adjusted EBITDA was negative $0.4 million, and non-GAAP EPS was negative $0.05 [28] Business Line Data and Key Metrics Changes - Enterprise sales were $8.6 million, reflecting a sequential decrease of 3%, offset by increases in embedded modems and asset trackers [25] - Consumer sales reached $4.8 million, a sequential increase of $1.3 million, driven by market recovery and Tier 1 MNO shipments [25] - Automotive sales were $1.7 million, showing a slight sequential decrease of $0.1 million [25] Market Data and Key Metrics Changes - The enterprise market remained stable compared to Q1, with a different mix of key drivers [11] - The consumer market is transitioning from Wi-Fi 6 to Wi-Fi 7, with significant milestones achieved in product deliveries [14] - The automotive sector is facing inventory challenges but is seeing traction with the RECON13 5G antenna [17] Company Strategy and Development Direction - Airgain is transitioning from a component manufacturer to a comprehensive wireless system solutions provider, focusing on both established business and integrated wireless solutions expansion [18][19] - The company is optimistic about growth opportunities in asset tracking and 5G connectivity solutions, projecting significant market potential [20][22] - Strategic partnerships and product launches are key to driving future growth, particularly in the AC Fleet and Lighthouse product lines [19][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about market potential and industry recovery, despite ongoing challenges in certain product segments [32] - The company is maintaining investments in new product launches and expanding its salesforce to counter industry-wide inventory corrections [32] - Management anticipates continued progress and growth opportunities, reinforced by a robust and diverse product portfolio [18][32] Other Important Information - The company is focused on addressing macroeconomic challenges and inventory adjustments while leveraging existing design wins [10][12] - Airgain's product lines are expected to capture significant market share, with a projected serviceable addressable market of $700 million in 2024 and $1.7 billion in 2025 [22] Q&A Session Summary Question: Can you describe the European design win for your antennas? - The design win involves a major carrier in the U.S. market, with expectations of shipping 1 to 2 million devices per year starting late this year [37] Question: What is the outlook for asset trackers and inventory levels? - The company is focusing on new products for asset tracking and is optimistic about long-term contracts with customers [39] Question: What are the long-term expectations for gross margins? - Gross margin improvements are expected due to new high-performance products and cost reduction efforts [41][43] Question: What is the expected seasonality for the December quarter? - The AC Fleet product will be a key determinant for growth, with expectations of continued ramp-up into Q4 [45] Question: What is the outlook for consumer market growth into Q4? - The company is optimistic about continued growth in the consumer market, driven by design wins and shipments [48] Question: What is the revenue contribution expected from the 5G connectivity portfolio? - The AC Fleet is anticipated to be the primary driver of growth, with ongoing trials and positive feedback from customers [55][57]

Company Performance - Airgain reported a quarterly loss of $0.05 per share, better than the Zacks Consensus Estimate of a loss of $0.07, compared to a loss of $0.01 per share a year ago, indicating an earnings surprise of 28.57% [1] - The company posted revenues of $15.18 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.23%, but down from $15.83 million in the same quarter last year [1] - Over the last four quarters, Airgain has exceeded consensus revenue estimates three times [1] Stock Performance - Airgain shares have increased approximately 81.2% since the beginning of the year, significantly outperforming the S&P 500's gain of 8.7% [2] - The current Zacks Rank for Airgain is 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [4] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.05 on revenues of $16.2 million, and for the current fiscal year, it is -$0.19 on revenues of $63 million [4] - The trend of estimate revisions for Airgain is mixed, and future changes in estimates will be closely monitored following the recent earnings report [4] Industry Context - The Communication - Components industry, to which Airgain belongs, is currently ranked in the top 7% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [5] - Viav Solutions, another company in the same industry, is expected to report quarterly earnings of $0.07 per share, reflecting a year-over-year decline of 30%, with revenues anticipated to be $251.83 million, down 4.5% from the previous year [5][6]