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]
Airgain (AIRG) Reports Q2 Loss, Tops Revenue Estimates