Airgain - AIRG STOCK NEWS

Airgain, Inc. (NASDAQ: AIRG) is set to participate in two financial conferences in November 2022. The first is the 11th Annual Roth Technology Event on November 16, followed by the 13th Annual Craig-Hallum Alpha Select Conference on November 17. Executives including President and CEO Jacob Suen and CFO Michael Elbaz will represent the company at both events. Airgain, headquartered in San Diego, is a provider of wireless connectivity solutions, focusing on enhancing wireless signals and simplifying connectivity.

Airgain, Inc. (Nasdaq: AIRG) reported third-quarter 2022 revenue of $19.2 million, marking a 24% year-over-year increase. Adjusted EBITDA for the quarter was $0.8 million, with a GAAP net loss of $1.3 million, or $0.13 per share. Sales from Consumer, Enterprise, and Automotive markets contributed significantly, with notable increases in Consumer and Automotive sales. The company also announced management changes, appointing Michael Elbaz as CFO and promoting Morad Sbahi to Chief Revenue Officer. Fourth-quarter sales are projected between $19.7 million and $21.1 million.

Airgain, Inc. (NASDAQ: AIRG), a global provider of wireless connectivity solutions, will hold a conference call on November 10, 2022, at 5:00 p.m. ET to discuss its financial results for Q3 2022, ending September 30, 2022. The call will include a presentation by management followed by a Q&A session. Interested parties can join by phone or access the live broadcast via the investor section of the company's website. A replay of the webcast will be available after the call.

Airgain (NASDAQ: AIRG) has granted inducement awards to Michael Elbaz, the newly appointed Chief Financial Officer. The inducement awards include options to purchase 86,978 shares, performance stock units (PSUs), and restricted stock units (RSUs). The options have a 10-year term with an exercise price of $7.11, vesting over four years. Mr. Elbaz also receives a one-time sign-on bonus of $220,000 in fully vested shares. These awards are compliant with Nasdaq regulations and serve to encourage Mr. Elbaz's long-term commitment to the company.

Airgain (NASDAQ: AIRG) has appointed Michael Elbaz as its new Chief Financial Officer (CFO). With over 25 years of experience in global finance and strategy, he aims to enhance Airgain's financial and operational leadership. Previously, Elbaz served as VP Finance at Cohu and AMN Healthcare. According to CEO Jacob Suen, his expertise is expected to drive the company's strategic objectives effectively. Elbaz holds degrees from California State University, Chico and San Diego State University.

Airgain, Inc. (NASDAQ: AIRG) has launched its new directional fixed wireless access (FWA) antennas, enhancing indoor and outdoor 5G connectivity. These operator-specific antennas aim to improve speed and connectivity, departing from the common omnidirectional designs. With over 20 years of experience, Airgain provides customized solutions supporting 4x4 MIMO and covering various bands. The FWA market is projected to grow fivefold by 2026, driven by user demand and government support, according to GlobalData.

Airgain, Inc. (NASDAQ: AIRG) announced the granting of inducement awards to three new non-executive employees on September 15, 2022. The awards include options to purchase a total of 3,000 shares and 1,000 restricted stock units (RSUs). The options have an exercise price of $8.23 and vest over four years. The RSUs will vest in equal installments starting November 15, 2023. These inducement awards were approved by the Compensation Committee per Nasdaq regulations, aimed at incentivizing new employees.

Airgain, Inc. (NASDAQ: AIRG) announced a partnership with the Fraunhofer Heinrich Hertz Institute to enhance fixed and mobile wireless access technology. The collaboration aims to improve wireless systems and network performance for better user experiences. Airgain's CTO, Dr. Ali Sadri, highlighted the focus on reducing deployment costs while improving network coverage. Notably, Dr. Thomas Haustein from Fraunhofer HHI praised Airgain's new product innovations for potentially transforming 5G network performance.

Airgain, Inc. (Nasdaq: AIRG) reported strong financial results for Q2 2022, featuring record sales of $19.3 million, reflecting a 10% sequential and 11% year-over-year increase. The company achieved its first adjusted EBITDA profitability in over a year, with a GAAP net loss of $1.6 million or $(0.16) per share. Enterprise sales surged by $0.5 million, while Automotive sales increased by $1.4 million. However, gross margins decreased to 38.9% due to a less favorable sales mix. The outlook for Q3 2022 anticipates GAAP sales to range between $18.0 million to $19.5 million.