Airgain, Inc. (NASDAQ:AIRG) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 04:30 pm ET

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Airgain, Inc. (NASDAQ:AIRG) Q2 2020 Earnings Conference Call - Final Transcript

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Operator
Operator

Good afternoon. Welcome to Airgain's Second Quarter 2020 Earnings Conference Call. My name is Simon, and I will be your coordinator for today's call. Joining us for today's call are Airgain's CEO, Jacob Suen; CFO, David Lyle; and Senior Vice President of Engineering, Kevin Thill. As a reminder, this call will be recorded and made available for replay via a link available in the Investor Relations section of Airgain's website at www.airgain.com. [Operator Instructions] I would now like to turn the call over to Mr. Lyle.

Executive
David Lyle

Thank you, and good afternoon to everyone. I caution listeners that during this call, Airgain management will be making forward-looking statements about future events and Airgain's business strategy and future financial and operating performance. Actual results could differ materially from those stated or implied by these forward-looking statements due to risks and uncertainties associated with the company's business. These forward-looking statements are qualified by the cautionary statements contained in today's earnings release and Airgain's SEC filings.

This conference call contains time-sensitive information that is accurate only as of the date of this live broadcast, August 6, 2020. Airgain undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this conference call. In addition, this conference call may include a discussion of non-GAAP financial measures, including non-GAAP operating expense, non-GAAP net income, non-GAAP diluted earnings per share and adjusted EBITDA. Please see today's earnings release for further details, including a reconciliation of the GAAP to non-GAAP results.

Now I'd like to now turn the call over to our CEO, Jacob Suen. Jacob?

Executive
Jacob Suen

Thank you, Dave. Welcome, everyone, and thank you for joining us on the call today. I'll start with an update on the second quarter, and a brief review of our strategy and then discuss progress we've made on key programs. Dave will then provide financial details as well as a quick update on the impact of COVID-19 on our business, following my remarks.

Let's begin with AirgainConnect. In our May earnings call, we discussed our innovation around the migration to integrated wireless solutions with our new patented AirgainConnect platform launch, how it could be a gamechanger for Airgain in automotive markets and our next-generation Wi-Fi and 5G offerings. We also announced the first AirgainConnect product, which targets public safety in fleet vehicles. We have begun field trials and have inquiries from potential customers being processed.

Earlier this week, we announced that we have received AirgainConnect device certification on AT&T's LTE network. You can now find our AirgainConnect product on the FirstNet website. We expect to see revenue begin to ramp in Q4 of this year. In addition to progress made on the product front, we are really pleased to announce that we have successfully engaged an additional contract manufacturer outside of China in Southeast Asia. Our new contract manufacturer services many companies globally, and is experienced in antenna manufacturing. They have already been qualified and began volume shipments as of this month. This allows us