Airgain Q1 revenue $16.4M, GAAP net loss $2.9M; sales down 17% sequentially

AIRGAIN INC

2023-Q1 EPS reported -$0.28 revenue$16,444,000

Revenue $16.4M, down 17.3% sequentially ($19.9M Q4) and 6.2% YoY ($17.5M Q1 2022).
GAAP net loss $2.9M ($0.28/sh); non-GAAP net loss $0.9M ($0.08/sh).
Adjusted EBITDA loss of $0.7M; gross margin GAAP 38.4%, non-GAAP 39.1%.
Segment sales: enterprise $8.4M, consumer $5.1M, automotive $2.9M; all down QoQ.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

AIRGAIN INC reported first quarter ended March 31, 2023 results: revenue $16.4 million, net income GAAP net loss of $2.9 million, EPS $(0.28) per share.

Period: first quarter ended March 31, 2023
Revenue: $16.4 million
Net income: GAAP net loss of $2.9 million
EPS: $(0.28) per share
Result: reported results

Exact text from the filing

in the first quarter in the face of difficult macroeconomic conditions,” said Airgain’s President and Chief Executive Officer, Jacob Suen. “We delivered quarterly sales of $16.4 million, and we announced several new products this past quarter. Our priorities are to deliver on our long-term strategy while achieving adjusted EBITDA profitability.” First Quarter

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Source: SEC EDGAR

accession 0000950170-23-021351

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