Airgain Q4 2023 revenue $10.1M, down 49% YoY; GAAP net loss $5.5M

AIRGAIN INC

Q4 2023 sales of $10.1M, down 26.5% from Q3 and 49.4% YoY; enterprise $4.6M, consumer $3.2M, automotive $2.3M.
GAAP net loss $5.5M ($0.52/sh); Non-GAAP net loss $3.5M ($0.33/sh); Adjusted EBITDA -$3.3M.
Full-year 2023 sales $56.0M; GAAP gross margin 29.1%, Non-GAAP 30.3%.
CEO Jacob Suen: Q4 was trough; expects gradual 2024 growth from 5G launches and market recoveries.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

AIRGAIN INC reported the fourth quarter and full year ended December 31, 2023 results: revenue $10.1 million, net income $5.5 million, EPS $(0.52) per share.

Period: the fourth quarter and full year ended December 31, 2023
Revenue: $10.1 million
Net income: $5.5 million
EPS: $(0.52) per share
Result: reported results

Exact text from the filing

and integrated systems across the globe, today reported financial results for the fourth quarter and full year ended December 31, 2023. “Our team delivered quarterly sales of $10.1 million, closing out 2023 with sales of $56.0 million,” said Airgain’s President and Chief Executive Officer, Jacob Suen. “We believe that the fourth quarter was the trough for our

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Source: SEC EDGAR

accession 0000950170-24-027269

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