Airgain Inc. Files Q2 2024 10-Q

TL;DR

**AIRGAIN Q2 10-Q FILED: Financials and stock details out.**

AI Summary

Airgain Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial data and disclosures regarding stock-based compensation and revenue recognition are presented.

Why It Matters

This filing provides investors with a detailed look at Airgain's financial health and operational performance during the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures, but the nature of 10-Q filings inherently involves risks related to financial reporting and market interpretation.

Key Numbers

• N/A — Revenue (Specific revenue figures for the quarter are not explicitly listed in the provided text snippet.)
• N/A — Net Income (Specific net income figures for the quarter are not explicitly listed in the provided text snippet.)
• N/A — Earnings Per Share (Specific EPS figures for the quarter are not explicitly listed in the provided text snippet.)

Key Players & Entities

• AIRGAIN INC (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240806 (date) — Filing date
• SAN DIEGO, CA (location) — Company's business and mailing address

FAQ

Key Financial Figures

• $0.0001 — ch registered Common stock, par value $0.0001 per share AIRG Nasdaq Capital Marke

Filing Documents

• airg-20240630.htm (10-Q) — 1986KB
• airg-ex31_1.htm (EX-31.1) — 12KB
• airg-ex31_2.htm (EX-31.2) — 12KB
• airg-ex32_1.htm (EX-32.1) — 9KB
• airg-ex32_2.htm (EX-32.2) — 9KB
• 0000950170-24-092012.txt ( ) — 8732KB
• airg-20240630.xsd (EX-101.SCH) — 1293KB
• airg-20240630_htm.xml (XML) — 1608KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Loss 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 33

Controls and Procedures

Item 4. Controls and Procedures 33

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 34

Risk Factors

Item 1A. Risk Factors 34

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 34

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 34

Other Information

Item 5. Other Information 34

Exhibits

Item 6. Exhibits 34

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

FINA NC IAL STATEMENTS

ITEM 1. FINA NC IAL STATEMENTS Airgain, Inc. Condensed Consolidated Ba lance Sheets (In thousands, except par value) (Unaudited) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 8,416 $ 7,881 Trade accounts receivable, net 8,642 7,375 Inventories 3,144 2,403 Prepaid expenses and other current assets 1,109 1,422 Total current assets 21,311 19,081 Property and equipment, net 2,220 2,507 Leased right-of-use assets 1,146 1,392 Goodwill 10,845 10,845 Intangible assets, net 6,751 8,234 Other assets 164 170 Total assets $ 42,437 $ 42,229 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 5,844 $ 6,472 Accrued compensation 1,295 728 Accrued liabilities and other 2,287 1,926 Short-term lease liabilities 881 865 Total current liabilities 10,307 9,991 Deferred tax liability 170 151 Long-term lease liabilities 370 674 Total liabilities 10,847 10,816 Commitments and contingencies (Note 13) Stockholders' equity: Common stock and additional paid-in capital, par value $ 0.0001 , 200,000 shares authorized; 11,842 shares issued and 11,301 shares outstanding at June 30, 2024; and 11,010 shares issued and 10,469 shares outstanding at December 31, 2023. 120,444 115,295 Treasury stock, at cost: 541 shares at June 30, 2024 and December 31, 2023. ( 5,364 ) ( 5,364 ) Accumulated deficit ( 83,489 ) ( 78,521 ) Accumulated other comprehensive (loss) income ( 1 ) 3 Total stockholders' equity 31,590 31,413 Total liabilities and stockholders' equity $ 42,437 $ 42,229 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Airgain, Inc. Condensed Consolidated Stateme nts of Operations (In thousands, except per share data) (Unaudited) Three months ended June 30, Six months ended June

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