![]() Enterprise sales decreased from the second quarter of 2022 by $2.4 million primarily due to lower sales generated from industrial IoT products. Sales decreased slightly by 0.5%, or $0.1 million in the third quarter of 2022 compared to $19.3 million in the second quarter of 2022. Sales for the third quarter of 2022 were $19.2 million, of which $7.3 million were generated from the Consumer market, $6.8 million were from the Enterprise market and $5.1 million were from the Automotive market. Non-GAAP net income of $0.6 million or $0.06 per diluted share Non-GAAP operating expenses of $7.0 million ![]() GAAP net loss of $1.3 million or $0.13 per share The Company's new management position, Chief Revenue Officer combines the global marketing and sales functions into one position in charge of delivering the Company’s revenue plans. Michael is a proven business leader with over twenty-five years of experience in corporate and global finance and strategy. Airgain continues that growth and maturation with the addition of Michael Elbaz as CFO and promotion of Morad Sbahi. Over the past 12 months, the Company has strengthened its management team and organization by bringing in seasoned team members at key positions. ![]() "In addition, we strengthened our executive team with the appointment of Michael Elbaz as Chief Financial Officer (CFO) and the promotion of Morad Sbahi to the newly formed position of Chief Revenue Officer, which positions us well to deliver on our growth plans for the coming years.” These results demonstrate our ability to execute on our strategies and position the company for continuing profitable growth. “We delivered quarterly sales of $19.2 million, which were up 24% year-over-year, and our second consecutive quarter of adjusted EBITDA profitability during the year. “We are very pleased to report strong revenue and adjusted EBITDA results in our third quarter that built upon the momentum we established in Q2,” said Airgain’s President and Chief Executive Officer, Jacob Suen. (Nasdaq: AIRG) is a leading provider of wireless connectivity solutions, creating and delivering products that include embedded components, external antennas, and integrated systems across the globe, today reported financial results for the third quarter ended September 30, 2022. ![]()
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