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Airgain Expects Q4 Revenue Of $14.6M-$15.6M Vs $17.23M Est

Benzinga·01/27/2025 12:10:44
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Preliminary Fourth Quarter 2024 Financial Results

Based on preliminary unaudited results, the company expects sales for the fourth quarter of 2024 to range between $14.6 million and $15.6 million, or $15.1 million at the midpoint. The company's sales in the fourth quarter of 2024 were impacted by higher-than-expected channel excess inventories and two Internet of Things (IoT) project delays.

The company expects to report positive adjusted EBITDA (a non-GAAP metric) for the fourth quarter of 2024, driven by gross margin improvement and lower operating expenses.

As of December 31, 2024, the company estimates its cash and cash equivalents at $8.5 million, an increase from $7.3 million in the previous quarter and $7.9 million at the same time last year.