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SAN DIEGO - Airgain, Inc. (NASDAQ: AIRG), a provider of advanced wireless connectivity solutions, announced the certification of its AirgainConnect Fleet 5G Vehicle Gateway (AC-Fleet) for use on Verizon’s 5G network. The device, designed for public safety, utilities, transportation, and commercial fleets, promises enhanced connectivity with reduced installation complexity. This product launch comes as Airgain maintains a solid balance sheet with more cash than debt, according to InvestingPro data, positioning the company to support its product development initiatives.
The AC-Fleet integrates multiple components, including a 5G modem, Wi-Fi 6 router, and antennas, into a single roof-mounted unit. This design aims to eliminate issues associated with traditional setups, such as cable loss and installation difficulties. The product’s durability is highlighted by its IP67/IP69K-rated enclosure, ensuring it can withstand harsh conditions.
Brian Makarowski, Vice President of Product Management and Marketing at Airgain, emphasized the device’s ability to provide reliable connectivity for essential operations like GPS tracking and video streaming, now supported by Verizon’s network infrastructure.
The gateway’s features include support for multi-carrier eSIM profiles, enabling seamless network switching and failover. Its low-profile design and integrated components are engineered to support applications requiring low latency and high data throughput.
Airgain’s AC-Fleet is now available for purchase in the United States and Canada in both black and white options. The company promotes the device as offering a lower total cost of ownership due to its simplified installation and maintenance.
This certification marks a step forward for Airgain in the 5G connectivity space, with the AC-Fleet designed to meet the demands of mission-critical vehicle operations while leveraging Verizon’s 5G capabilities. Despite challenging market conditions, the company has maintained 8.14% revenue growth over the last twelve months. The information is based on a press release statement from Airgain, Inc. For deeper insights into Airgain’s financial health and growth prospects, including 8 additional ProTips and comprehensive valuation metrics, visit InvestingPro.
In other recent news, Airgain Inc. reported its fourth-quarter 2024 earnings, revealing a revenue of $15.1 million, which was below the forecasted $17.2 million. Despite the revenue shortfall, the company experienced a 50% year-over-year increase in sales. Airgain’s gross margin improved for the fourth consecutive quarter, reaching 43.4%. The company ended 2024 with full-year sales of $60.6 million, marking an 8% increase from the previous year. Looking ahead, Airgain projects first-quarter 2025 sales between $11 million and $13 million, with expectations for continued gross margin growth.
In terms of strategic developments, Airgain is focusing on expanding its market reach through new product launches and strategic partnerships, such as its collaboration with Omontel to scale Lighthouse deployments. The company is optimistic about deploying its Lighthouse solution across more than 50 sites in 2025. Analysts have noted that Airgain’s shift from a component supplier to a wireless systems solutions provider could enhance its market position. The company continues to face challenges such as inventory constraints and competition in the 5G and wireless connectivity sectors.
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