Airgain Q3 sales slightly beat expectations; gross margin declines
AIRG•AIRG•AIRG•AIRG•Airgain’s third-quarter sales rose 9% year over year to $15.32 million, slightly above expectations, while adjusted EPS of $0.04 met estimates. The company expects fourth-quarter sales of $15.5 million to $17.5 million and non-GAAP net income per share of $0.05 at the midpoint.
Airgain reported third-quarter sales of $15.32 million, compared with analyst expectations of $15.24 million. Adjusted EPS was $0.04, in line with estimates, and the company reported a net loss of $583,000.
Gross margin declined as sales shifted toward lower-margin enterprise IoT products and away from higher-margin consumer products. Higher IoT modem shipments increased enterprise sales by $3.3 million, offsetting declines in other segments, while near-term supply constraints continued to affect parts of the business. Airgain expects fourth-quarter sales of $15.5 million to $17.5 million, GAAP gross margin of 39.2% to 42.2%, and non-GAAP net income per share of $0.05 at the midpoint.
