SAN DIEGO - Airgain, Inc. (NASDAQ: NASDAQ:AIRG), a global provider of wireless connectivity solutions, has entered into a distribution agreement with Mouser Electronics, an online distributor of electronic components. This partnership aims to make Airgain's range of wireless and Internet of Things (IoT) products, including NimbeLink embedded modems and antennas, more accessible to design engineers around the world.
Lance Laing, Airgain's Vice President of US Sales, expressed that the collaboration with Mouser Electronics would expand the company's reach to embedded design engineers and provide additional resources during the design and testing phases. He emphasized the importance of being present where engineers are searching for solutions.
Kristin Schuetter, Mouser Electronics' Vice President of Supplier Management, highlighted the demand for advanced components among their customers, especially for connected product construction. Schuetter noted that Airgain's expertise in simplifying wireless connectivity aligns well with the needs of Mouser's global community.
Airgain's product portfolio includes three sub-brands: Airgain Embedded, which offers embedded modems, antennas, and development kits; Airgain Integrated, which presents fully integrated, ready-to-use products like asset trackers and the AirgainConnect platform; and Airgain Antenna+, which provides external antennas designed to enhance wireless signals in challenging environments.
The company, with headquarters in San Diego, California, and additional design and test centers in the U.S., U.K., and China, focuses on simplifying wireless connectivity for a variety of devices and markets.
Mouser Electronics, part of Berkshire Hathaway (NYSE:BRKa), is known for introducing new products from leading manufacturers. The company supports a vast customer base in over 223 countries and territories from its advanced distribution facilities in the Dallas, Texas, metro area.
The press release also contained forward-looking statements regarding the expected performance and market demand for Airgain's products, cautioning that actual results may differ due to risks and uncertainties inherent in the business.
This partnership announcement is based on a press release statement from Airgain, Inc.
InvestingPro Insights
As Airgain, Inc. (NASDAQ: AIRG) forges a new distribution agreement with Mouser Electronics to expand its global reach, the company's financial health and market performance provide critical context for stakeholders.
InvestingPro data shows a market capitalization of $57.05 million USD for Airgain, reflecting its scale in the wireless connectivity market. Despite a challenging period with a revenue decline of 26.16% in the last twelve months as of Q4 2023, the company has managed a strong return over the last three months, with a 27.71% price total return.
One of the notable InvestingPro Tips for Airgain is that the company holds more cash than debt on its balance sheet, a sign of financial prudence that can be crucial during times of market volatility. Moreover, two analysts have revised their earnings upwards for the upcoming period, signaling potential optimism in the company's future performance.
While Airgain's P/E ratio stands at -4.58, reflecting its current lack of profitability, the company has shown resilience with its stock price, achieving a 59.16% price total return over the last six months. It is important to note that analysts do not anticipate the company will be profitable this year, and Airgain does not pay a dividend to shareholders, which may influence investment strategies.
For those considering a deeper dive into Airgain's financials and future prospects, InvestingPro offers additional tips. There are 7 more InvestingPro Tips available for Airgain, which can be accessed through the InvestingPro platform at https://www.investing.com/pro/AIRG. To enrich your investment research, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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