Deal worth several million dollars per year in revenue signals consumer adoption of wireless broadband and shift towards Fixed Wireless Access for last mile connection
Airgain, Inc. (NASDAQ: AIRG), a leading provider of wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems across the globe, announced that it has been selected by a major Tier 1 Mobile Network Operator (MNO) in North America to supply its next generation antennas for its indoor fixed wireless (FWA) deployment. The selection comes amid ongoing consumer shifts away from traditional, wired broadband to wireless as more major telecom providers offer broadband internet access as part of their bundled offerings. The deal is worth several million dollars per year and is expected to begin shipments in Q1, 2024.
As consumers continue to cut the cord for broadband and broadcast entertainment, demand continues to shift from wired to wireless providers for internet service. Spotting this trend, Airgain has focused its strategy on penetrating this growing market, which offers an increase in average selling price, due to the complexity and number of antennas required. Airgain has invested heavily in its next generation WiFi 7 capabilities and combines expertise in WiFi, 5G and FWA to deliver superior RF performance in this device.
“Service providers are on the cusp of a major transition from WiFi 6E to WiFi 7,” said Jacob Suen, CEO of Airgain. “While this is happening, consumers are deciding between wired and wireless broadband for their home and offices. Airgain is positioned well to support existing cable and fiber operators with their customer premises equipment, or CPEs, while taking advantage of the growth in wireless broadband because of our relationships with the MNOs. We are very pleased to have received the initial purchase order for this significant indoor FWA design win from a major North America operator. Our goal is to simplify wireless connectivity for our partners and their customers while delivering the best possible performance. This is the reason major operators continue to choose Airgain.”
About Airgain, Inc.
Airgain simplifies wireless connectivity across a diverse set of devices and markets, from solving complex connectivity issues to speeding time to market to enhancing wireless signals. Our products are offered in three distinct sub-brands: Airgain Embedded, Airgain Integrated and Airgain Antenna+. Our mission is to connect the world by making wireless simple. Airgain's expertise in custom cellular and antenna system design pairs with our focus on high-growth technologies and our dedication to simplify the growing complexity of wireless. With a broad portfolio of products across the value chain, from embedded components to fully integrated products, we are equipped to solve critical connectivity needs in both the design process and the operating environment across the enterprise, automotive, and consumer markets. Airgain is headquartered in San Diego, California. For more information, visit airgain.com, or follow Airgain on LinkedIn and Twitter.
Airgain and the Airgain logo are trademarks, or registered trademarks of Airgain, Inc. All other trademarks are the property of their respective owner.
Airgain cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the company’s current beliefs and expectations. These forward-looking statements include statements regarding the expected outcomes of the development, time to market, the performance of, and market for, Airgain’s products or those of its partners; the growth of the EV charging market and the importance of connectivity in connection with that growth; and the ability to create solutions that are cost effective and meet the needs of customers, as well as their acceptance by the market. The inclusion of forward-looking statements should not be regarded as a representation by Airgain that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the market for our products is developing and may not develop as we expect; risks associated with the performance of our products, including bundled solutions with third-party products; if our channel partners fail to perform, or our partnerships are unsuccessful, we may not be able to bring our product solutions to market successfully or on a timely basis; our products are subject to intense competition, and competitive pressures from existing and new companies may harm our business, sales, growth rates and market share; the COVID-19 pandemic, global supply chain constraints and rising interest rates and inflation may continue to disrupt and otherwise adversely affect our operations and those of our suppliers, partners, distributors and ultimate end customers; risks associated with any regulatory approvals that may be required; risks associated with quality and timing in manufacturing our products and our reliance on third- party manufacturers; we may not be able to maintain strategic collaborations under which our bundled solutions are offered; if we cannot protect our intellectual property rights, our competitive position could be harmed or we could incur significant expenses to enforce our rights; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission, including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
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