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Airgain Inc Up 5.39% To $8.61 After Earnings Beat

Friday, August 12, 2022 03:27 PM | InvestorsObserver Analysts

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Airgain Inc Up 5.39% To $8.61 After Earnings Beat

Airgain Inc (AIRG) beat out earnings estimates for Q2 2022 this afternoon.

Airgain Inc's earnings came in at an EPS of $0.03 per share, 200.00% higher than estimates for an EPS of $0.01 per share. The firm's earnings are down 40% since reporting $0.05 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $19.3 million. The Technology company managed to surpass those expectations for its second quarter with revenue of $19.3 million, a positive revenue surprise of $26 thousand (0%). The firm managed 11% growth year-over-year due to Airgain Inc reporting quarterly revenue of $17.3 million in its year-ago quarter. Airgain Inc achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is up 5.39% to $8.61 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Airgain Inc a Neutral Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 59. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Airgain Inc is engaged in providing antenna technologies. These technologies can be used to enable performance wireless networking across devices and markets which include connected home, enterprise, automotive, and internet of things. It also provides solutions to complex radio frequency, engineering challenges, and improving wireless service that require higher throughput, broad coverage footprint, and carrier-grade quality. Geographically, it derives maximum revenue from North America and also has a presence in China and Rest of the World. The company products include Antenna Plus: Fleet, M2M, IoT Antennas, Carrier-Class Antenna, Embedded Antennas, and External Dipole Antennas.

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