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 significant price increase of 61.5% over the past 12 weeks, indicating strong investor interest [2]. - In addition to the long-term trend, AIRG has maintained a price increase of 4.6% over the last four weeks, confirming the ongoing upward trend [2]. - AIRG is currently trading at 81.4% of its 52-week high-low range, suggesting it may be on the verge of a 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 Zacks Rank system has a strong historical performance, with Zacks Rank 1 stocks averaging an annual return of +25% since 1988 [3]. - The Average Broker Recommendation for AIRG is 1 (Strong Buy), indicating high optimism from the brokerage community regarding its near-term price performance [3]. Group 3: Investment Strategy - The article suggests that AIRG is not the only stock that meets the criteria of the "Recent Price Strength" screen, encouraging investors to explore other potential candidates [4]. - It highlights the availability of over 45 Zacks Premium Screens tailored to different investing styles, which can help identify winning stock picks [4]. - The Zacks Research Wizard tool allows backtesting of stock-picking strategies, enhancing the effectiveness of investment decisions [4].

SAN DIEGO--(BUSINESS WIRE)--Airgain, Inc. (NASDAQ: AIRG), a leading provider of wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems across the globe, announced that it signed a distribution agreement with Techship, Inc. for its NimbeLink® product line of embedded cellular modems and other wireless-enabled products. Under the agreement, Techship will distribute Airgain’s NimbeLink family of plug-in cellular modems globally, supporting OEMs ...

After reaching an important support level, Airgain, Inc. (AIRG) could be a good stock pick from a technical perspective. AIRG recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most common moving ave ...

Airgain, Inc. (NASDAQ:AIRG) Q4 2023 Earnings Conference Call March 6, 2024 5:00 PM ET Company Participants Jacob Suen - President and Chief Executive Officer Michael Elbaz - Chief Financial Officer Conference Call Participants Scott Searle - ROTH MKM Anthony Stoss - Craig-Hallum Capital Group Tim Savageaux - Northland Capital Markets Operator Good afternoon and welcome to Airgain's Fourth Quarter and Full Year 2023 Earnings Conference Call. My name is Diego, and I will be your operator for today's call. Joi ...

分组1 - Airgain reported a quarterly loss of $0.33 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.21, and compared to a loss of $0.11 per share a year ago, indicating a significant decline in performance [1] - The company's revenues for the quarter ended December 2023 were $10.07 million, surpassing the Zacks Consensus Estimate by 0.70%, but down from $19.89 million year-over-year [1] - Over the last four quarters, Airgain has consistently failed to meet consensus EPS estimates, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting expected underperformance in the near future [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is -$0.15 on revenues of $11.9 million, and for the current fiscal year, it is -$0.17 on revenues of $60.45 million [4] - The Communication - Components industry, to which Airgain belongs, is currently ranked in the bottom 40% of over 250 Zacks industries, indicating a challenging environment for the stock [4] - Another company in the same industry, Turtle Beach, is expected to report quarterly earnings of $0.64 per share, reflecting a year-over-year increase of 540%, with revenues projected at $112.43 million, up 11.4% from the previous year [5]

[Financial Results](index=1&type=section&id=Financial%20Results) [Fourth Quarter 2023 Financial Results](index=1&type=section&id=Fourth%20Quarter%202023%20Financial%20Results) Airgain's Q4 2023 sales declined to $10.1 million, resulting in a wider GAAP net loss of $5.5 million Q4 2023 Key Financial Metrics (GAAP vs. Non-GAAP) | Metric | GAAP | Non-GAAP | | :--- | :--- | :--- | | Sales | $10.1 million | - | | Gross Margin | 29.1% | 30.3% | | Operating Expenses | $8.4 million | $6.5 million | | Net Loss | $5.5 million | $3.5 million | | Net Loss per Share | $(0.52) | $(0.33) | | Adjusted EBITDA | - | $(3.3) million | Q4 2023 Sales by Market (in millions) | Market | Q4 2023 Sales | Change vs. Q3 2023 | Change vs. Q4 2022 | | :--- | :--- | :--- | :--- | | Enterprise | $4.6 | -$2.2 | -$5.4 | | Consumer | $3.2 | -$1.2 | -$3.2 | | Automotive | $2.3 | -$0.2 | -$1.2 | | **Total** | **$10.1** | **-$3.6** | **-$9.8** | - The CEO stated a belief that the fourth quarter represented the "**trough**" for the business after sequential declines throughout the year[3](index=3&type=chunk) - The decrease in GAAP gross margin from **38.2%** in Q3 2023 to **29.1%** in Q4 2023 was primarily attributed to an excess and obsolete inventory charge[6](index=6&type=chunk) - The **increase in GAAP net loss** was driven by lower sales, higher personnel and engineering project expenses, and the inventory charge[7](index=7&type=chunk)[8](index=8&type=chunk) [Full Year 2023 Financial Results](index=2&type=section&id=Full%20Year%202023%20Financial%20Results) Airgain's full-year 2023 sales decreased to $56.0 million, resulting in a wider GAAP net loss of $12.4 million Full Year 2023 Key Financial Metrics (GAAP vs. Non-GAAP) | Metric | GAAP | Non-GAAP | | :--- | :--- | :--- | | Sales | $56.0 million | - | | Gross Margin | 37.1% | 37.9% | | Operating Expense | $33.2 million | $26.4 million | | Net Loss | $12.4 million | $5.1 million | | Net Loss per Share | $(1.20) | $(0.50) | | Adjusted EBITDA | - | $(4.5) million | Full Year 2023 Sales by Market (in millions) | Market | 2023 Sales | Change vs. 2022 | | :--- | :--- | :--- | | Enterprise | $27.2 | -$7.3 | | Consumer | $18.9 | -$6.9 | | Automotive | $9.9 | -$5.7 | | **Total** | **$56.0** | **-$19.9** | - Reasons for the **annual sales decline** include: channel excess inventory correction impacting IIoT products, weaker demand from cable operator customers, and the discontinuation of the AC-HPUE product line[10](index=10&type=chunk) - The **increase in annual net loss** was primarily due to a **$7.2 million decrease in gross profit** from lower sales, which was only partially offset by a **$3.4 million reduction in operating expenses**[14](index=14&type=chunk) [Financial Outlook](index=3&type=section&id=Financial%20Outlook) [First Quarter 2024 Financial Outlook](index=3&type=section&id=First%20Quarter%202024%20Financial%20Outlook) Airgain anticipates Q1 2024 sales of $13.3-$14.7 million, projecting a sequential recovery from the Q4 2023 trough Q1 2024 Financial Outlook (Midpoint) | Metric | GAAP | Non-GAAP | | :--- | :--- | :--- | | Sales | $14.0 million | $14.0 million | | Gross Margin | 38.6% - 41.6% | 39.5% - 42.5% | | Operating Expense | ~$8.1 million | ~$6.4 million | | Net Loss per Share | $(0.24) | $(0.06) | | Adjusted EBITDA | - | $(0.5) million | - The company anticipates a year of **gradual growth in 2024**, driven by recoveries in end markets, product innovation investments, and the launch of 5G connectivity initiatives[3](index=3&type=chunk) [Supplemental Information](index=3&type=section&id=Supplemental%20Information) [Conference Call Information](index=3&type=section&id=Conference%20Call%20Information) A conference call was held on March 6, 2024, to discuss Q4 and full-year 2023 financial results - A conference call to discuss financial results was held on Wednesday, **March 6, 2024**, at 5:00 p.m. Eastern Time[17](index=17&type=chunk)[18](index=18&type=chunk) [About Airgain, Inc.](index=3&type=section&id=About%20Airgain%2C%20Inc.) Airgain, Inc. simplifies wireless connectivity through embedded components and integrated systems for various markets - **Airgain specializes** in solving complex connectivity issues and enhancing wireless signals across the enterprise, automotive, and consumer markets[19](index=19&type=chunk) [Forward-Looking Statements & Non-GAAP Measures](index=4&type=section&id=Forward-Looking%20Statements%20%26%20Non-GAAP%20Measures) This section outlines risks of forward-looking statements and explains non-GAAP measures for clearer operational insights - **Forward-looking statements** include the Q1 2024 financial outlook and expectations for market recovery, which are subject to numerous business risks and uncertainties[21](index=21&type=chunk) - The company uses **non-GAAP measures** such as Adjusted EBITDA, non-GAAP net loss, and non-GAAP gross margin to provide investors with a clearer view of core business operating results by excluding non-cash or non-recurring expenses[22](index=22&type=chunk)[23](index=23&type=chunk) [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) Airgain's balance sheet shows total assets decreased to $42.2 million, primarily due to reduced cash and inventories Key Balance Sheet Items (in thousands) | Account | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Cash and cash equivalents | $7,881 | $11,903 | | Inventories | $2,403 | $4,226 | | **Total Assets** | **$42,229** | **$54,400** | | Total current liabilities | $9,991 | $12,900 | | **Total Liabilities** | **$10,816** | **$14,575** | | **Total stockholders' equity** | **$31,413** | **$39,825** | [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) Consolidated statements show a full-year 2023 net loss of $12.4 million on $56.0 million sales, worsening from 2022 Key Income Statement Data (in thousands) | Metric | Q4 2023 | Q4 2022 | Full Year 2023 | Full Year 2022 | | :--- | :--- | :--- | :--- | :--- | | Sales | $10,070 | $19,889 | $56,040 | $75,895 | | Gross Profit | $2,931 | $5,880 | $20,763 | $27,972 | | Loss from Operations | $(5,488) | $(3,277) | $(12,400) | $(8,580) | | **Net Loss** | **$(5,484)** | **$(3,220)** | **$(12,428)** | **$(8,659)** | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities for 2023 was $3.3 million, a significant shift from 2022, decreasing cash by $4.1 million Cash Flow Summary (in thousands) | Activity | Year Ended Dec 31, 2023 | Year Ended Dec 31, 2022 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(3,301) | $4,446 | | Net cash used in investing activities | $(346) | $(750) | | Net cash used in financing activities | $(458) | $(6,304) | | **Net decrease in cash** | **$(4,102)** | **$(2,608)** | [Sales by Target Market](index=10&type=section&id=Sales%20by%20Target%20Market) Sales by target market show declines across Consumer, Enterprise, and Automotive segments for Q4 and full-year 2023 Sales by Target Market (in thousands) | Target Market | Q4 2023 | Q4 2022 | Full Year 2023 | Full Year 2022 | | :--- | :--- | :--- | :--- | :--- | | Consumer | $3,209 | $6,438 | $18,934 | $25,793 | | Enterprise | $4,615 | $10,015 | $27,209 | $34,533 | | Automotive | $2,246 | $3,436 | $9,897 | $15,569 | | **Total sales** | **$10,070** | **$19,889** | **$56,040** | **$75,895** | [Reconciliation of GAAP to Non-GAAP Measures](index=11&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) This section details reconciliations between GAAP and non-GAAP financial measures, adjusting for non-cash items for clearer insights Reconciliation of Net Loss to Adjusted EBITDA (Full Year, in thousands) | Description | Full Year 2023 | Full Year 2022 | | :--- | :--- | :--- | | **Net loss (GAAP)** | **$(12,428)** | **$(8,659)** | | Stock-based compensation expense | $3,681 | $4,978 | | Depreciation and amortization | $3,630 | $3,701 | | Severance and exit costs | $612 | $— | | Other (income) expense | $(109) | $(11) | | Income tax expense | $128 | $84 | | **Adjusted EBITDA (Non-GAAP)** | **$(4,486)** | **$93** | - The **primary adjustments** to reconcile GAAP to Non-GAAP figures are non-cash expenses like stock-based compensation and amortization of intangible assets[36](index=36&type=chunk)[40](index=40&type=chunk)[42](index=42&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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) (State or other jurisdiction of incorporation or organizat ...

SAN DIEGO--(BUSINESS WIRE)--Airgain, Inc. (NASDAQ: AIRG), a leading provider of wireless connectivity solutions, that creates and delivers embedded components, external antennas, and integrated systems across the globe secured a multi-year, multi-million dollar design win with a Tier One multi-service operator (MSO) in North America upgrading its customer premise equipment to Wi-Fi 7 with Airgain’s antenna solution. This device is expected to begin shipping in the second half of 2024. The design was awar ...

Airgain, Inc. (AIRG) has collaborated with Lenovo to introduce a groundbreaking program aimed at bolstering security for Lenovo ThinkEdge SE360 V2 Servers purchasers. Through this initiative, customers will have the option to acquire Airgain’s cellular-based AT6 Asset Tracker, seamlessly integrating it within the server's infrastructure.The AT6 Asset Tracker, a cutting-edge solution, enhances Lenovo's existing security measures by providing an additional layer of protection. It enables customers to monitor ...

Core Insights - Airgain, Inc. has launched a program to offer its AT6 Asset Tracker to customers purchasing Lenovo ThinkEdge SE360 V2 Servers, enhancing security and asset recovery capabilities [1][4] - The AT6 Asset Tracker is designed to fit within a dedicated compartment in the Lenovo server, providing minimal installation effort while complementing Lenovo's existing security features [1][2] - The AT6 device utilizes various technologies including LTE-M cellular connectivity, Wi-Fi, GPS, and sensors for comprehensive asset monitoring and condition tracking [2][3] Company Overview - Airgain specializes in wireless connectivity solutions, offering products across three sub-brands: Airgain Embedded, Airgain Integrated, and Airgain Antenna+ [5] - The company aims to simplify wireless connectivity challenges across various markets, including enterprise, automotive, and consumer sectors [5] - Airgain is headquartered in San Diego, California, and focuses on high-growth technologies to address critical connectivity needs [5]