Airgain, Inc. (NASDAQ:AIRG) Q4 2023 Earnings Call Transcript

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Tim Savageaux: Great. And just to follow-up on that. You mentioned, I don’t know if you’re coming out of Mobile World Congress with a lot trial commitments? Sounds like that’s the case. But you’ve mentioned a couple of trials in the past. But as you look at it now anywhere to kind of size the number of trials you have going on for the Lighthouse product.

Jacob Suen: Yes, I mean, look, this is in dealing with the mobile network operators usually it takes time, right, because they — this is an infrastructure play. So they are always really cautious about the deployment. So they have to go through several different trials. And that’s why, even though we announced the product last year, we know this was going to be a year and year and half, duration for the — for certification for trials. And I’m pleased that so far on the number of trials we have found, we receive some extremely positive feedback from the customers. So we are proceeding to the next stage and we hope to get POs [ph] by the end of this year, and we are still on track for that and those should be sizable opportunities.

Tim Savageaux: Got it. And last question for me, I think in your initial comments, you talked about gradual growth for the year. I’m guessing that refers to expectations for sequential growth throughout the year. But it sounds like you’ve had this big pick up in Enterprise that you hope to kind of sustain at that level and maybe have consumer, and some of the asset tracking businesses kind of drive sequential growth in the second half. Is that the right way to look at it?

Michael Elbaz: Hi, Tim. This is Michael. Yes, you’re correct. So the consumer, we do expect two good things happening. One is the Wi-Fi 7. What is not in our control is, of course, the service providers monitor, their own Wi-Fi 7 solutions, but we expect that to happen in the back end of the year. The good news is that we have two of the key design wins here. The MNO is another one that’s going to be ramping up through the year as well to. On the automotive market, the aftermarket itself, this is still being adopted by the excessive inventory overhang that we still continue having with lead customers, but for their feedback, there should be through that in the back end of the year in Q3, Q4 itself. And then we’ll also have the Airgain Connect AC fleet coming up, starting to ship in the second half of the year.

And then on the enterprise business, yes, we do expect to have an overall maintenance of that product of that market. With some pockets of opportunities as we mentioned before, we definitely are very focused on the Asset Tracker because of SAM and sense overall growth and also with a Lantern FWA product is watching.

Tim Savageaux: Okay, thanks very much.

Michael Elbaz: Thank you.

Jacob Suen: Thank you, Tim.

Operator: Thank you. And at this time this concludes our question-and-answer session. If your question was not taken, you may contact Airgain’s Investor Relations team at AIRG@gateway-grp.com. I’d now like to turn the call back over to Mr. Suen, for his closing remarks.

Jacob Suen: Thank you for joining us on today’s call. I especially want to thank our dedicated employees for their ongoing contributions and our investors for their continued support. We look forward to providing additional updates at our next opportunity. Operator.

Operator: Thank you for joining us today for Airgain’s fourth quarter and full year 2023 earnings call. You may now disconnect.

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