$AIRG
AIRGAIN INC

2022 Q3 Form 10-Q Financial Statement

#000095017022016912 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $19.20M $19.29M $17.52M
YoY Change 24.22% 11.5% 0.83%
Cost Of Revenue $11.76M $11.79M $10.37M
YoY Change 18.63% 17.95% -1.09%
Gross Profit $7.443M $7.493M $7.156M
YoY Change 34.2% 2.66% 3.76%
Gross Profit Margin 38.77% 38.85% 40.84%
Selling, General & Admin $5.806M $6.144M $6.340M
YoY Change 0.26% 6.85% 4.41%
% of Gross Profit 78.01% 82.0% 88.6%
Research & Development $2.901M $2.962M $3.242M
YoY Change 7.52% 8.66% 19.81%
% of Gross Profit 38.98% 39.53% 45.3%
Depreciation & Amortization $200.0K $200.0K $200.0K
YoY Change 100.0% 100.0% 100.0%
% of Gross Profit 2.69% 2.67% 2.79%
Operating Expenses $8.707M $9.106M $9.582M
YoY Change 1.34% -9.24% 9.16%
Operating Profit -$1.264M -$1.613M -$2.426M
YoY Change -58.5% -41.0% 28.97%
Interest Expense $26.00K $6.000K $0.00
YoY Change 333.33% -14.29% -100.0%
% of Operating Profit
Other Income/Expense, Net -$17.00K -$9.000K -$10.00K
YoY Change 142.86% 350.0% -1100.0%
Pretax Income -$1.247M -$1.622M -$2.436M
YoY Change -58.97% -40.72% 29.57%
Income Tax -$52.00K -$3.000K $85.00K
% Of Pretax Income
Net Earnings -$1.299M -$1.619M -$2.521M
YoY Change -57.67% -37.95% -1163.71%
Net Earnings / Revenue -6.77% -8.39% -14.39%
Basic Earnings Per Share -$0.13 -$0.16 -$0.25
Diluted Earnings Per Share -$0.13 -$0.16 -$0.25
COMMON SHARES
Basic Shares Outstanding 10.20M 10.22M 10.13M
Diluted Shares Outstanding 10.21M 10.22M 10.13M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.190M $9.448M $18.66M
YoY Change -51.51% -53.32% -13.07%
Cash & Equivalents $9.190M $9.448M $18.66M
Short-Term Investments
Other Short-Term Assets $2.005M $1.825M $1.447M
YoY Change 33.76% 3.28% -25.79%
Inventory $9.345M $8.621M $8.719M
Prepaid Expenses
Receivables $9.452M $9.822M $8.179M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $29.99M $29.72M $37.00M
YoY Change -19.7% -22.21% 3.72%
LONG-TERM ASSETS
Property, Plant & Equipment $2.816M $2.951M $2.647M
YoY Change 4.37% 6.5% 7.21%
Goodwill $10.85M $10.85M $10.85M
YoY Change 0.0% 0.0% 0.0%
Intangibles $11.96M $12.72M $13.47M
YoY Change -20.19% -19.26% -18.44%
Long-Term Investments
YoY Change
Other Assets $243.0K $277.0K $345.0K
YoY Change -48.73% -44.15% -33.27%
Total Long-Term Assets $28.30M $29.33M $30.00M
YoY Change -11.12% -10.97% -10.96%
TOTAL ASSETS
Total Short-Term Assets $29.99M $29.72M $37.00M
Total Long-Term Assets $28.30M $29.33M $30.00M
Total Assets $58.29M $59.05M $67.00M
YoY Change -15.75% -17.01% -3.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.827M $7.062M $7.043M
YoY Change 32.86% 15.68% 45.28%
Accrued Expenses $5.759M $3.373M $6.088M
YoY Change 19.88% -27.34% 30.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.37M $14.73M $21.86M
YoY Change -24.55% -22.42% 129.95%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.782M $1.937M $2.198M
YoY Change -21.64% -21.58% -76.54%
Total Long-Term Liabilities $1.782M $1.937M $2.198M
YoY Change -21.64% -21.58% -76.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.37M $14.73M $21.86M
Total Long-Term Liabilities $1.782M $1.937M $2.198M
Total Liabilities $16.28M $16.80M $24.17M
YoY Change -23.98% -22.08% 27.47%
SHAREHOLDERS EQUITY
Retained Earnings -$62.87M -$61.57M -$59.96M
YoY Change 19.1% 23.84% 27.27%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.364M $5.364M $5.364M
YoY Change 0.0% 1.84% 1.84%
Treasury Stock Shares
Shareholders Equity $42.01M $42.25M $42.82M
YoY Change
Total Liabilities & Shareholders Equity $58.29M $59.05M $67.00M
YoY Change -15.75% -17.01% -3.41%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.299M -$1.619M -$2.521M
YoY Change -57.67% -37.95% -1163.71%
Depreciation, Depletion And Amortization $200.0K $200.0K $200.0K
YoY Change 100.0% 100.0% 100.0%
Cash From Operating Activities $103.0K -$2.172M $4.152M
YoY Change -107.68% 30.92% -205.92%
INVESTING ACTIVITIES
Capital Expenditures -$460.0K -$46.00K $128.0K
YoY Change 245.86% -86.82% 109.84%
Acquisitions
YoY Change
Other Investing Activities $0.00 $10.00K $0.00
YoY Change 100.0% -100.0%
Cash From Investing Activities -$460.0K -$36.00K -$128.0K
YoY Change 245.86% -89.53% -99.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $120.0K
YoY Change -108.27%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 99.00K -6.999M 120.0K
YoY Change -47.62% -985.95% -91.73%
NET CHANGE
Cash From Operating Activities 103.0K -2.172M 4.152M
Cash From Investing Activities -460.0K -36.00K -128.0K
Cash From Financing Activities 99.00K -6.999M 120.0K
Net Change In Cash -258.0K -9.207M 4.144M
YoY Change -79.94% 659.03% -124.79%
FREE CASH FLOW
Cash From Operating Activities $103.0K -$2.172M $4.152M
Capital Expenditures -$460.0K -$46.00K $128.0K
Free Cash Flow $563.0K -$2.126M $4.024M
YoY Change -146.57% 62.29% -201.08%

Facts In Submission

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AIRGAIN, INC.
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DeferredIncomeTaxExpenseBenefit
-2291000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-935000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5735000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-328000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1861000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
554000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
265000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-75000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-48000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1159000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2356000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-193000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-871000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
94000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
217000
airg Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-50000
airg Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-39000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1980000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5579000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
14185000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
174000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
409000
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
10000
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-164000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-14594000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
7015000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
0
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
136000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2240000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6879000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2240000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5063000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-17933000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
14686000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
38348000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9623000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
20415000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
110000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
58000
airg Right Of Use Assets Recorded In Non Cash Investing And Financing Activities
RightOfUseAssetsRecordedInNonCashInvestingAndFinancingActivities
0
airg Right Of Use Assets Recorded In Non Cash Investing And Financing Activities
RightOfUseAssetsRecordedInNonCashInvestingAndFinancingActivities
3199000
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
0
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
3519000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
254000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
429000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
94000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9448000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20240000
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
175000
CY2021Q2 us-gaap Restricted Cash
RestrictedCash
175000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9623000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
20415000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
6031000
CY2021Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
7908000
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2590000
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
2739000
CY2022Q2 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
541000
CY2021Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
541000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Arial;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;"> </span></p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Arial;font-style:italic;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">Certain amounts in the prior year financial statements have been reclassified to conform to the presentation of the current year financial statements including the reclassification of sales and marketing expenses in the Company's consolidated statement of operations as well as reclassification of sales channel and geographic location in the disaggregated revenue disclosures i</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">n Note 18.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;"> </span></p>
CY2022Q2 us-gaap Restricted Cash Equivalents
RestrictedCashEquivalents
175000
CY2021Q4 us-gaap Restricted Cash Equivalents
RestrictedCashEquivalents
175000
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
40000
CY2022Q2 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
135000
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1041000
CY2022Q2 us-gaap Inventory Net
InventoryNet
8621000
CY2021Q4 us-gaap Inventory Net
InventoryNet
8949000
CY2022Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3454000
CY2022Q2 airg Provision For Excess And Obsolete Inventories
ProvisionForExcessAndObsoleteInventories
107000
CY2021Q4 airg Provision For Excess And Obsolete Inventories
ProvisionForExcessAndObsoleteInventories
47000
CY2022Q2 airg Reserve For Pricing Credits And Rights Of Return
ReserveForPricingCreditsAndRightsOfReturn
44000
CY2021Q4 airg Reserve For Pricing Credits And Rights Of Return
ReserveForPricingCreditsAndRightsOfReturn
109000
CY2022Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
200000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
100000
CY2022Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
156000
CY2021Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
35000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
300000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
100000
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
800000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-1619000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-2609000
us-gaap Net Income Loss
NetIncomeLoss
-4140000
us-gaap Net Income Loss
NetIncomeLoss
-2372000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10219000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10026000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10188000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9948000
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10219000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10026000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10188000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9948000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.26
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.41
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.41
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2122000
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1311000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2032000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1345000
CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
46000000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
200000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
300000
us-gaap Operating Lease Cost
OperatingLeaseCost
500000
us-gaap Operating Lease Cost
OperatingLeaseCost
700000
CY2021Q1 us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
14065000
CY2022Q2 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
8000000.0
CY2022Q2 airg Business Combination Deferred Payments
BusinessCombinationDeferredPayments
600000
CY2022Q2 us-gaap Cash
Cash
3277000
CY2022Q2 us-gaap Cash
Cash
3277000
CY2022Q2 us-gaap Cash
Cash
3277000
CY2022Q2 airg Cash And Cash Equivalents At Carrying Value Available And Available For Sale Debt Securities Amortized Cost Basis
CashAndCashEquivalentsAtCarryingValueAvailableAndAvailableForSaleDebtSecuritiesAmortizedCostBasis
9448000
CY2022Q2 airg Cash And Cash Equivalents At Carrying Value And Available For Sale Securities Debt Securities Current
CashAndCashEquivalentsAtCarryingValueAndAvailableForSaleSecuritiesDebtSecuritiesCurrent
9448000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9448000
CY2021Q4 us-gaap Cash
Cash
3702000
CY2021Q4 us-gaap Cash
Cash
3702000
CY2021Q4 us-gaap Cash
Cash
3702000
CY2021Q4 airg Cash And Cash Equivalents At Carrying Value Available And Available For Sale Debt Securities Amortized Cost Basis
CashAndCashEquivalentsAtCarryingValueAvailableAndAvailableForSaleDebtSecuritiesAmortizedCostBasis
14511000
CY2021Q4 airg Cash And Cash Equivalents At Carrying Value And Available For Sale Securities Debt Securities Current
CashAndCashEquivalentsAtCarryingValueAndAvailableForSaleSecuritiesDebtSecuritiesCurrent
14511000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14511000
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7281000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6727000
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4330000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4029000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2951000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2698000
CY2022Q2 us-gaap Depreciation
Depreciation
200000
CY2021Q2 us-gaap Depreciation
Depreciation
100000
us-gaap Depreciation
Depreciation
300000
us-gaap Depreciation
Depreciation
300000
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
20095000
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7379000
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
12716000
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
20095000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5866000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
14229000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1513000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2969000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2968000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2958000
CY2022Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
557000
CY2022Q2 airg Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
1751000
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
12716000
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
800000
CY2022Q2 airg Advanced Payments From Contract Manufacturers
AdvancedPaymentsFromContractManufacturers
1559000
CY2021Q4 airg Advanced Payments From Contract Manufacturers
AdvancedPaymentsFromContractManufacturers
682000
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
718000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1277000
CY2022Q2 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
339000
CY2021Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
339000
CY2022Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
203000
CY2021Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
258000
CY2022Q2 airg Contract Liabilities Current
ContractLiabilitiesCurrent
165000
CY2021Q4 airg Contract Liabilities Current
ContractLiabilitiesCurrent
79000
CY2022Q2 us-gaap Other Liabilities
OtherLiabilities
1500000
CY2021Q4 us-gaap Other Liabilities
OtherLiabilities
198000
CY2022Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
4484000
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
2833000
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The practical expedients allowed the Company to not reassess (i) whether expired or existing contracts contained leases, (ii) lease classification for expired or existing leases and (iii) previously capitalized initial direct costs.
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
5 years
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.036
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y2M12D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y8M12D
airg Short Term Lessee Operating Lease Term Of Contract
ShortTermLesseeOperatingLeaseTermOfContract
12 months or less
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
42000000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
474000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
913000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
877000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
687000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2951000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
178000
CY2022Q2 airg Unrealized Translation Gain
UnrealizedTranslationGain
1000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2774000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
837000
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1937000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.020
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.486
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
9500000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1214000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1008000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2455000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1936000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2000000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.79
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M18D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
308000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
9.24
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
8000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.33
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
241000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
13.47
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2059000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.22
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1288000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
11.12
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2059000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
12.22
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.87
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1000000.0
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
2200000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36808000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
34674000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19286000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17297000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36808000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
34674000
airg Description Of Performance Stock Unit
DescriptionOfPerformanceStockUnit
Service as well as market and performance conditions determine the number of PSUs that the holder will earn from 0% to 150% of the target number of shares. The percentage received is based on the Company common stock price targets over a three-year service period. Additionally, the Company must achieve or exceed 75% of the year to date revenue target measured at the end of the quarter in which the price target is achieved.
CY2022Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
200000
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
400000
airg Warranty Expense Reserved
WarrantyExpenseReserved
141000000
CY2022Q2 us-gaap Noncurrent Assets
NoncurrentAssets
2951000
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
2698000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19286000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17297000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36808000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
34674000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19286000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
17297000

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