Q2 2026 Airgain Inc Earnings Call Transcript
Key Points
- Revenue increased 19% sequentially to $13.7 million, marking the first year-over-year growth in six quarters.
- Achieved positive adjusted EBITDA of $0.4 million, improving by $1.3 million sequentially.
- AirgainConnect pipeline grew to approximately 60 Tier 1 and Tier 2 opportunities, with over half now in trial or post-trial stages.
- Secured five Tier 2 design wins in Q2, including a large countrywide public safety customer with potential deployment across more than 1,000 vehicles.
- Lighthouse advanced with two scheduled U.S. end customer trials and a new international trial for the integrated 4G/5G combo solution.
- Enterprise IoT growth driven by energy monitoring, EV charging, and new applications like robotics, drones, and data centers.
- Expanded AirgainConnect portfolio with MegaFi 2 and MegaGo 2, both FirstNet trusted solutions, and strengthened carrier relationships with FirstNet/AT&T.
- Q3 guidance projects continued sequential growth with sales midpoint of $15.25 million and positive adjusted EBITDA of $0.7 million.
- Consumer revenue expected to decline sequentially in Q3 due to memory shortage and FCC ruling impacting new product launch timing.
- Memory shortage, driven by AI infrastructure demand, is tightening availability and increasing costs for standard memory used in home gateways.
- FCC ruling caused shipping delays in the second half, affecting consumer market sales.
- Non-GAAP gross margin declined sequentially to 43.6% due to product and customer sales mix.
- Lighthouse is viewed primarily as a 2027 revenue opportunity, with near-term revenue only incremental.
- GAAP operating expenses included $0.6 million in severance expenses from headcount reduction.
- IoT order patterns remain uneven, and the company is not assuming current growth rates will continue every quarter.
- Higher component and module costs are pressuring gross margins, though partially offset by pricing and cost initiatives.
Good afternoon. Welcome to Airgain's second-quarter 2026 conference call. My name is Jasmine, and I will be your operator for today's call. Joining us today are Airgain's President and CEO, Jacob Suen, and CFO, Michael Elbaz. As a reminder, this call will be recorded and made available for replay via a link found in the Investor Relations of Airgain's website at investors.airgain.com.
(Operator Instructions)
I caution listeners that during this call, Airgain management will be making forward-looking statements about future events as well as Airgain's business strategy, and future financial and operating performance. Actual results could differ materially from those stated or implied by these forward-looking statements due to risks and uncertainties associated with the company's business. These forward-looking statements are qualified by the cautionary statements contained in today's earnings release and Airgain's SEC filings. This conference call contains time-sensitive information that is accurate only as of the date of this live broadcast, August 5, 2026. Airgain undertakes no
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