Airgain Inc 2025年季度报告

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes☒No As of April 30, 2025, the registrant had11,794,084shares of common stock (par value $0.0001) outstanding. PART I. FINANCIAL INFORMATION Airgain, Inc.CondensedConsolidated Statements of Comprehensive Loss Airgain, Inc.CondensedConsolidated Statements of Stockholders’ Equity Airgain, Inc.Notes to Condensed Consolidated Financial Statements Note 1. Description of Business and Basis of Presentation Description of Business Airgain, Inc. was incorporated in the State of California on March 20, 1995; and reincorporated in the State of Delawareon August 17, 2016. Airgain, Inc. together with its subsidiaries are herein referred to as the “Company,” “we,” or “our.”Headquartered in San Diego, California, Airgain, Inc. (NASDAQ: AIRG) is a leading provider of advanced wirelessconnectivity solutions that drive cutting-edge innovation in 5G technology. We are committed to delivering high- Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance withU.S. generally accepted accounting principles (GAAP) and applicable rules and regulations of the Securities andExchange Commission (SEC) regarding interim financial reporting. Certain information and note disclosures normallyincluded in the consolidated financial statements prepared in accordance with GAAP have been condensed or omittedpursuant to such rules and regulations. Interim financial results are not necessarily indicative of results anticipated for Segment Information The Company is engaged in research and development, production, commercialization and sale of wirelessconnectivity solutions, offering integrated systems, embedded components, and external antennas worldwide. All of theCompany’s products are manufactured by third-party contract manufacturers (CM). Product sales for the year endedDecember 31, 2024 accounted for approximately93%of the Company’s total revenue, as compared to7%coming The determination of a single business segment is consistent with the consolidated financial information regularlyreviewed by the Chief Operating Decision Maker (CODM), the Chief Executive Officer Jacob Suen, for the purposes ofassessing performance, allocating resources and planning. The CODM regularly reviews consolidated revenue, grossmargin, significant expenses, operating margin, and profit and loss. The CODM compares and analyzes the underlying Use of Estimates Thepreparation of financial statements in conformity with GAAP requires management to make estimates andassumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilitiesat thedate of the consolidated financial statements and the reported amounts of revenues and expenses during thereporting period. Actual results could differ from those estimates. Note 2. Summary of Significant Accounting Policies During the three months ended March 31, 2025, there have been no material changes to the Company’s significantaccounting policies as described in the Company’s Annual Report on Form 10-K for the fiscal year ended December Trade Accounts Receivable We perform ongoing credit evaluations of our customers and assess each customer’s credit worthiness. The policy fordetermining when receivables are past due or delinquent is based on the contractual terms agreed upon. We monitorcollections and payments from our customers and analyze for an allowance for credit losses. The allowance for creditlosses is based upon applying an expected credit loss rate to receivables based on the historical loss rate and is An allowance for credit losses is established when, in the opinion of management, collection of the account is doubtful. Inventories All of th