Thu, Feb 27, 10:20 PM (17 days ago)
Airgain, Inc. (NASDAQ: AIRG) reported an 8.1% increase in revenue to $60.6 million for the fiscal year ending December 31, 2024, driven by growth in the enterprise and consumer markets. Net loss narrowed to $8.7 million from $12.4 million in the previous year, with gross profit margin improving to 40.9%. Operating expenses rose slightly to $33.7 million, primarily due to increased research and development costs. The company ended the year with $8.6 million in cash and equivalents, reflecting a strategic focus on expanding product offerings in 5G technology across enterprise, automotive, and consumer sectors. Key risk factors include reliance on a limited customer base, ongoing supply chain challenges, and potential impacts from geopolitical tensions. Airgain's strategic initiatives aim to transition from a component supplier to a comprehensive wireless systems provider, enhancing market positioning amid evolving industry demands. Future outlook remains cautiously optimistic, with expectations of continued revenue growth as market conditions stabilize.