Airgain, Inc. Q1 FY2026 earnings call

• Platform initiatives: Acquired HPE MEGA52 assets from Nextivity to expand portfolio and strengthen vehicle gateway capabilities. AirGain Connect's capabilities expanded, with both AirGainConnect Fleet and AirGainConnect MegaFive 2 part of AT&T FirstNet offering. Pipeline of AirGainConnect has more than 55 Tier 1 and Tier 2 opportunities, up roughly 40% from last call, with more than one third in trial or post trial stages. • Lighthouse: In US, working with business sponsor and Tier 1 mobile network operator toward live enterprise trial, with initial commercialization opportunities possible end of 2026. In Middle East, relationship with Omantel ongoing, expected to move forward with initial deployments in coming months. • Core markets: Consumer secured multi-year, multi-million dollar embedded antenna design win for next gen 5G home connectivity platform. Enterprise IoT momentum building with $4 million purchase order from longstanding customer. Automotive saw growth in vehicle gateway sales.

Q1 sales were $11.5 million. Enterprise sales were $5 million, up $0.7 million sequentially driven by higher embedded modem sales. Automotive sales were $0.9 million, up $0.4 million sequentially, reflecting higher sales of air-gang connect vehicle gateways. Consumer sales came in at $5.6 million, sequentially down $1.7 million, primarily due to seasonal impact. In Q1, consumer contributed 49% of revenue, enterprise 43%, and automotive 8%.

• Q2 2026 sales projected to range from $12.5 million to $14.5 million, midpoint $13.5 million, 17% sequential increase. • Non-GAAP gross margin expected 42.5% - 45.5%, midpoint 44%. • Operating expenses projected to decrease sequentially to ~$5.8 million. • Non-GAAP EPS expected positive $0.01 midpoint. • Adjusted EBITDA expected positive $0.02 million midpoint.

Q: Asked for revenue splits, with consumer 5.6 million, enterprise 5 million, automotive 0.9 million in Q1, and guidance related.

A: Consumer 49%, enterprise 43%, automotive 8% in Q1; Q2 sales projected range $12.5M - $14.5M.

Q: Asked about memory shortages impact in Q1 and consumer revenue rebound.

A: No revenue or gross margin impact in Q1 from shortages; consumer demand healthy, supply constraint temporary.

Q: Asked about Area Connect trials and conversion.

A: Pipeline of over 55 deals in tier 1 and 2 customers, velocity of design wins accelerating.

Q: Asked about Lighthouse trial steps and consumer segment rebound.

A: Working with business sponsors to identify customers for live trial; consumer demand there, question of supply timing.

Q: Asked about operating expenses downtick.

A: First half 2026 operating expenses 9% down from first half last year, expecting operating leverage as top line grows.