Airgain Inc ( (AIRG) ) has released its Q4 earnings. Here is a breakdown of the information Airgain Inc presented to its investors.
Airgain, Inc., based in San Diego, California, is a prominent provider of advanced wireless connectivity solutions, specializing in 5G technology across enterprise, automotive, and consumer markets.
In its latest earnings report, Airgain announced a significant milestone with the first commercial deployment of its Lighthouse Smart Network-Controlled Repeater. The company reported fourth-quarter sales of $15.1 million, marking a 50% increase year-over-year, despite a 6% sequential decline due to excess customer inventories and project delays.
Key financial highlights include a GAAP gross margin of 42.2% and a non-GAAP gross margin of 43.4%. The company reported a GAAP net loss of $2.0 million for the quarter, while non-GAAP net income was $33,000. For the full year 2024, sales reached $60.6 million, with a GAAP net loss of $8.7 million, showing improvement from the previous year.
Looking ahead, Airgain is optimistic about 2025, with a robust pipeline of product launches and strategic partnerships, such as the multi-year agreement with Omantel to enhance 5G connectivity in the MENA region. The company expects to capitalize on emerging opportunities in the wireless market, despite challenges in customer inventory levels and project timelines.