Airgain, Inc. (NASDAQ:AIRG) Q2 2022 Earnings Conference Call August 11, 2022 5:00 PM ET

Company Participants

Jacob Suen – Chief Executive Officer

Morad Sbahi – Senior Vice President of Product and Marketing

Victor Blair – Vice President of Operations

Conference Call Participants

Michael Mani – B. Riley Securities

Sabrina Baxamusa – William Blair

Operator

Good afternoon. Welcome to Airgain’s Second Quarter 2022 Earnings Conference Call. My name is Karen, and I will be the coordinator for today’s call. Joining us for today’s call are Airgain’s CEO, Jacob Suen; Senior Vice President of Product and Marketing, Morad Sbahi; and Vice President of Operations, Victor Blair.

As a reminder, this call will be recorded and made available for replay via a link found in the Investor Relations section of Airgain’s website at www.airgain.com. Following management’s prepared remarks, the call will be opened up for questions from Airgain’s publishing sell-side analysts.

I caution listeners that during this call, Airgain management will be making forward-looking statements about future events and 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 11, 2022. Airgain undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this conference call.

In addition, this conference call may include a discussion of non-GAAP financial measures. Please see today’s earnings release for further details, including a reconciliation of the GAAP to non-GAAP results.

Now, I’d like to turn the call over to our CEO, Jacob Suen. Jacob?

Jacob Suen

Thank you, operator. Welcome, everyone, and thank you for joining us on the call today. Like last quarter, I will start with high level commentary about our Q2 operational highlights in financial performance. Then our Senior Vice President of Product and Marketing, Morad Sbahi will provide an update on our strategic product and marketing initiatives. Afterwards, our VP of Operations, Victor Blair will discuss our key operational initiatives that are enhancing efficiencies and driving scale.

As we indicated during our guidance, we had a record second quarter that built upon the strong momentum we established in Q1 and deliver record quarterly sales of $19.3 million, which was up 10% sequentially and 11% year-over-year. This strong growth pattern was driven by our focus efforts to expand our enterprise and automotive segments.