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Airgain, Inc. (AIRG)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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10.35+0.31 (+3.09%)
At close: 04:00PM EDT
10.30 -0.05 (-0.48%)
Pre-Market: 08:33AM EDT
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  • M
    Mike
    Published by Roth yesterday…giddy the F..k up!

    AIRG: Defying Gravity and WiFi Headwinds
    Despite supply chain headwinds, Airgain reported upside to 1Q22 sales/ EBITDA/EPS arising from a WiFi recovery and better than expected GMs. This should dispel investors’ immediate worst case fears. Additionally, guidance is ahead of consensus (EPS) and has 100% backlog coverage for 2Q22. With continued improvements of the supply chain, we expect continued sequential growth throughout 2022. Consequently, we raise our 2022/23 outlook (largely on GMs improvements) and see further upside potential from AirgainConnect (2H22) and next-gen 5G solutions (2023). Buy.
    WiFi, Nimbelink and GMs drive upside: Despite ongoing supply chain constraints (WiFi and cellular), Airgain reported upside to 1Q22 sales/EBITDA/ EPS, reporting $17.5M/($300k)/($0.04) versus our $17.4M/($1.0M)/($0.12) estimates. Sales of $17.5M, up 14% y/y and 24% seq, reflected a recovery in Consumer (WiFi), $6.1M (34% of sales) up from $2.5M in 4Q22, but below 1Q21's near-peak level of $10.3M. This continues to reflect the WiFi recovery, which has experienced significant supply chain issues and should dispel worst case investor fears (and rebuke results of other WiFi exposed vendors such as Cambium Networks (CMBM-Buy), Netgear (NTGR-NC), and Extreme Networks (EXTR-NC). Additionally, Enterprise sales ($8.6M, 49% of the mix) remained healthy, up 6% seq, driven by Nimbelink (despite cellular constraint headwinds). Automotive ($2.8M of sales, 16% of sales) was soft, but featured a growing backlog for AirgainConnect. Corporate GMs of 41.4% were 400bps ahead of our expectations reflecting a combination of mix (more Consumer) and product redesigns. The net result was adj EBITDA & EPS of ($300k) and ($0.04) versus our ($1.0M) & ($0.12) estimates. Ending cash was $18.7M, but is closer to $9M when adjusted for the fully realized Nimbelink earn-out.
    Outlook reflects continued strong GMs: Airgain raised the immediate outlook largely based on sustained GM improvements. On the top-line, 2Q22 sales guidance of $18.5M-20.0M, up 11% y/y and 10% seq at the midpoint, is slightly above consensus of $18.9M and brackets our expectation of $19.4M. This is driven by a continued recovery in WiFi and Nimbelink (cellular), as well as the ramp of AirgainConnect. GM guidance of 38.5-42.5% is down 90bps seq at the midpoint and 180bps ahead of our prior expectations (due to mix). This translates to Adj EBITDA and EPS of $260k and $0.01 at the midpoint (versus our prior ($300k) and ($0.05), respectively). Importantly, we believe this 2Q22 outlook is 100% covered by existing backlog. Consequently, we are raising our 2022/23 adj EPS outlook to $0.18 and $0.56 (from ($0.04) and $0.48).
    Recovery plus new growth cycles; Buy: We maintain our Buy rating and $18PT given the ongoing recovery in WiFi, supply chain improvements in cellular (Nimbelink), and promise of emerging product cycles such as AirgainConnect (and soon (2023)...system level 5G solutions). We believe the current expectations are conservative, supported by existing backlog, which de-risks AIRG from potential future supply chain disruptions. Overall, we remain encouraged by Airgain’s evolution from a component to a systems level supplier, starting with AirgainConnect and continuing with next gen 5G solutions expected in late 2022/early 2023. Buy
  • M
    Mike
    Good news simply Wall Street…. Insiders were net buyers of Airgain, Inc.'s (NASDAQ:AIRG ) stock during the past year. That is, insiders bought more stock than they sold.
  • D
    David
    Shares of Airgain Inc. were higher in Wednesday's after-hours market, following news the company received a multi-
million contract from a major U.S.-based water utility company.

    Airgain said the deal will see it equip the utility's 3,000-plus fleet with its AirgainConnect AC-HPUE roof-mounted
antenna-modem.

    At 4:26 p.m. ET, shares of Airgain were trading 9.86% higher at $7.69. The stock finished the day with a 1% gain,
closing at $7.

    Airgain is a provider of wireless connectivity technologies.
    Bullish
  • m
    michael
    Well this is promising✅
    Bullish
  • D
    David
    More employees hired . . . I’m assuming they are expecting a ramp up in new business and bigger sales
    Bullish
  • m
    michael
    Activity
    Bullish
  • M
    Mike
    Nice announcement after the close…AIRG is on a roll!
  • D
    David
    SAN DIEGO--(BUSINESS WIRE)--
Airgain, Inc. (NASDAQ: AIRG), a leading provider of advanced wireless connectivity technologies and systems used to enable high performance networking across a broad range of devices and markets, announced today that a major US-based water utility company has selected AirgainConnect® AC-HPUE™ to improve the connectivity of its fleet.
    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220413005844/en/

    AirgainConnect AC-HPUE (Photo: Business Wire)
    
With up to 10x the power and up to 4x the coverage area of a traditional router-mounted antenna, the utility plans to equip its 3,000 plus vehicle fleet with the roof-mounted antenna-modem to enable optimum connectivity, even in the most remote and difficult environments. The multimillion dollar contract for the AirgainConnect devices will be deployed through the end of the year.
    
Airgain’s customer, one of the largest and most geographically diverse waste-water utility companies in the U.S., provides safe, clean, affordable, and reliable water services to millions of people. With such an expansive service area, connectivity is critical, especially in remote areas. After dealing with unstable connections with its service vehicles for years, the company decided to upgrade to a high-power solution that included an AirgainConnect AC-HPUE.
    
Morad Sbahi, Senior Vice President, Global Product & Marketing at Airgain added, “When we launched the AirgainConnect platform almost a year and half ago, we were looking to solve the connectivity issues that had long plagued public safety and critical infrastructure. By equipping the fleet of a major utility with the AirgainConnect AC-HPUE, we can help its service technicians, inspectors, engineers and field operators to stay connected in order to deliver water where it is needed most.”
    Bullish
  • v
    vs
    This stock should be going to be tripled in about a month
  • k
    kirk
    worth $8 no more
  • v
    vs
    Seriously.
  • m
    michael
    Feeling double figures today
    Bullish
  • M
    Mike
    Is something leaking?????
  • D
    David
    It seems that despite their recent disappointing earnings, they are actually hiring more employees . . . Obviously, they seem confident about their prospects going forward:

    SAN DIEGO--(BUSINESS WIRE)-- Airgain, Inc. (NASDAQ: AIRG), a leading provider of advanced wireless connectivity solutions and technologies used to enable high performance wireless networking across a broad range of devices and markets, including consumer, enterprise, and automotive, today announced that it has granted inducement awards to 6 new non-executive employees who recently joined the Company.
    The awards were made on November 15, 2021 under Airgain’s 2021 Employment Inducement Incentive Award Plan, which provides for the granting of equity awards to new employees of Airgain as an inducement to join the company. The inducement awards to the 6 new employees consist of options to purchase an aggregate of 24,500 shares of Airgain common stock, and 13,300 restricted stock units (“RSUs”). The options have a 10-year term and an exercise price equal to $10.27 the fair market value of Airgain common stock on the date of grant. The options vest over a four-year period, with 25% of the options vesting on the first anniversary of the applicable vesting commencement date, and the rest vesting in equal monthly installments thereafter and are subject to the employees’ continued service with the Company through the applicable vesting date. Each RSU represents a contingent right to receive one share of the Company's common stock and there is no exercise price associated with the RSUs granted hereunder. The RSUs vest in four substantially equal installments on each of November 15, 2022, 2023, 2024, and 2025, subject to the employees’ continued services with the Company. The awards were approved by the Compensation Committee of Airgain’s Board of Directors, as required by Nasdaq Rule 5635(c)(4), and were granted as an inducement material to the new employees entering into employment with Airgain in accordance with Nasdaq Rule 5635(c)(4).
  • M
    Mike
    Presentation today the ATT Airgain Connect discussed at length. Mentioned that the Connect product has a potential $500 million revenue opportunity. Giddy Up!
  • M
    Mike
    Another great news release today...AIRG recent purchase, Nimblelink asset tracker awarded 2021 industrial IoT priduct of the year..someone is gonna buy this company!
  • M
    Mike
    Giddy up! Northland Securities report issued 8/7! Strong Quarter and Guide; Auto Drives Potential Up in 21 and Beyond
    Outperform
Price: $13.73
Price Target: $23.00
  • s
    steve
    Feels like a nice Quarterly report to me. Nearly a 100% beat on EPS, 30% growth in Revs year/year and bump in earnings guidance. Am I reading this wrong? This stock needs a good long run up.
  • R
    Robert
    Surprised by this news and not much of an explanation. That's now two major execs leaving the company for "other opportunities" . Doesn't look good to investors, but to a buyout suitor it looks great! I'm looking for an offer soon, but I don't expect to get all of my investment back at this point. :(
    Neutral
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