Airgain Reports Fourth Quarter and Full Year 2019 Financial Results

Source: Airgain

Airgain, Inc., a leading provider of advanced antenna technologies used to enable high performance wireless networking across a broad range of devices and markets, including consumer, enterprise, and automotive, today announced GAAP net income of $0.1 million and GAAP diluted EPS of $0.01 for the three months ended December 31, 2019 (2019 Q4). The 2019 Q4 net income increased $0.2 million from the net loss of $(0.1) million for the three months ended September 30, 2019 (2019 Q3). Airgain will exhibit its solutions during the upcoming IWCE 2020 in Las Vegas

“I am pleased that we exceeded our expectations for earnings despite recent revenue headwinds. Our Q4 2019 GAAP and non-GAAP diluted earnings per share of $0.01 and $0.07, respectively, exceeded our prior expected ranges of $(0.03) to $(0.02) on a GAAP basis and $0.04 to $0.05 on a non-GAAP basis,” said Airgain’s Chief Executive Officer and President, Jacob Suen. “More importantly, the ramp in recent design activity we are seeing in our growth markets gives me confidence that we are on the cusp of hitting a real growth curve that will begin to play out in the second half of this year with more significant growth in 2021 and beyond.”