Airgain Q2 revenue beats, driven by enterprise and automotive growth
AIRG•Q3 outlook
Airgain expects Q3 sales between $14.25 million and $16.25 million.
The company sees Q3 GAAP gross margin between 40.8% and 43.8% and expects positive adjusted EBITDA in Q3, driven by enterprise IoT and vehicle gateways.
Margins and expenses
Gross margin declined sequentially due to an unfavorable customer sales mix and a lower consumer gross margin rate from product mix.
Operating expenses rose from the previous quarter due to a severance expense.
Key figures and analyst view
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Sales | Beat | $13.70 million | $13.48 million (4 analysts) |
| Q2 Net Loss | $1.71 million | ||
| Q2 Gross Profit | $5.79 million | ||
| Q2 Income From Operations | -$1.69 million |
The current average analyst rating on the shares is "buy," with 4 "strong buy" or "buy" recommendations, no "hold" and no "sell" or "strong sell." The median 12-month price target for Airgain Inc is $9.00, about 56.5% above its August 4 closing price of $5.75.
