Airgain(US:AIRG)2025-11-12 21:35Financial Performance - Sales for Q3 2025 were $14.0 million, a 2.9% increase from Q2 2025, with $6.9 million from the enterprise market, $6.6 million from the consumer market, and $0.5 million from the automotive market[5] - Non-GAAP net income for Q3 2025 was $0.1 million or $0.01 per share, compared to a non-GAAP net loss of $0.5 million in Q2 2025[10] - Adjusted EBITDA for Q3 2025 was $0.3 million, an improvement from $(0.4) million in Q2 2025[11] - GAAP net loss for Q3 2025 was $1.0 million or $(0.08) per share, an improvement from a loss of $1.5 million in Q2 2025[10] - Total sales for the three months ended September 30, 2025, were $14,018 thousand, a decrease of 13.0% compared to $16,101 thousand for the same period in 2024[27] - Net loss for the nine months ended September 30, 2025, was $3,985 thousand, an improvement from a net loss of $6,725 thousand for the same period in 2024[29] - Net loss for the three months ended September 30, 2025, was $964 million, compared to a loss of $1,475 million for the previous quarter[39] - Non-GAAP net income attributable to common stockholders for the three months ended September 30, 2025, was $147 million, a significant improvement from a loss of $516 million in the previous quarter[39] - Adjusted EBITDA for the three months ended September 30, 2025, was $250 million, compared to a loss of $403 million in the previous quarter[41] Margins and Profitability - GAAP gross margin for Q3 2025 was 43.6%, up from 42.9% in Q2 2025 and 41.7% in Q3 2024, driven by improved enterprise product margins[8] - Non-GAAP gross margin for Q3 2025 was 44.4%, compared to 43.8% in Q2 2025[8] - Gross profit for the three months ended September 30, 2025, was $6,111 thousand, representing a gross margin of 43.6%, compared to a gross margin of 41.7% in the same period of 2024[35] - The company anticipates GAAP gross margin for Q4 2025 to be in the range of 41.3% to 44.3%[13] - GAAP gross margin for the upcoming Q4 2025 is projected at 42.8%, with a non-GAAP gross margin expected to be 44.0%[43] Expenses and Liabilities - Operating expenses for Q3 2025 were $7.1 million, down from $7.8 million in Q2 2025, primarily due to lower employee and project development expenses[9] - Research and development expenses for the three months ended September 30, 2025, were $2,141 thousand, down from $2,855 thousand in the same period of 2024[27] - Total operating expenses for the nine months ended September 30, 2025, were $23,173 thousand, down from $25,386 thousand in the same period of 2024[27] - The company recognized a total of $1,890 thousand in stock-based compensation for the nine months ended September 30, 2025, compared to $3,334 thousand for the same period in 2024[29] - Total current liabilities decreased to $11,827 thousand as of September 30, 2025, from $13,501 thousand at December 31, 2024, reflecting a reduction of 12.4%[25] Cash and Assets - Cash and cash equivalents at the end of the period on September 30, 2025, were $7,091 thousand, a decrease from $8,510 thousand at December 31, 2024[25] - The company’s total assets decreased to $45,544 thousand as of September 30, 2025, from $48,443 thousand at December 31, 2024, indicating a decline of 6.2%[25] Future Outlook - The company expects Q4 2025 sales to be in the range of $12.0 million to $14.0 million, with a midpoint of $13.0 million[13] - GAAP net loss per share for Q4 2025 is projected at $(0.13), while non-GAAP net loss per share is expected to be $(0.0)[43] Certifications and Achievements - The company achieved FCC certification for the Lighthouse™ 5G Smart Network Controlled Repeater, enhancing opportunities with U.S. system integrators[5]