Airgain Q1 revenue $17.5M, seq +23.9%; GAAP net loss $2.5M

AIRGAIN INC

2022-Q1 EPS reported -$0.25 revenue$17,522,000

Sales $17.5M, up 23.9% from Q4 2021 ($14.1M), nearly flat vs Q1 2021 ($17.4M).
GAAP net loss $2.5M ($0.25 loss/share); Non-GAAP net loss $0.4M ($0.04 loss/share).
GAAP gross margin 40.8%; Non-GAAP gross margin 41.4%; Adjusted EBITDA $(0.3)M.
Consumer $6.1M (+$3.6M seq on easing supply shortages), Enterprise $8.6M, Automotive $2.8M.
CEO says results 'better than expected' with sequential growth in revenue, gross margin, and Adjusted EBITDA.

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