Airgain, Inc. (NASDAQ:AIRG) Q3 2023 Earnings Call Transcript

Michael Elbaz: Sure. So our cash actually increased in Q3 at the end of September, increased compared to quarter-over-quarter but also year-over-year basis. We are at $10 million right now. And this has been mostly driven out of working capital management, lower inventories, and as I mentioned, but also lower account receivable not only because of lower sales, but also primarily because we achieved a record low DSO with some very strong collections. So the team is definitely very focused on whatever we can do from a working capital management standpoint with the EBITDA loss that we are projecting for Q4 of $1.8 million. At the midpoint of the guidance, we expect our cash balance to be at around $8 million which is definitely sufficient for enough of resources to be able to pursue our growth initiatives and especially in light of growth resuming in the first half of the year.

Unidentified Analyst : Got it. Thank you so much.

Michael Elbaz: Thank you.

Operator: That will conclude our question-and-answer session. If your question was not taken you may contact Airgain’s Investor Relations team at AIRG@gateway-grp.com. I would now like to turn the call back over to Mr. Suen for closing remarks.

Jacob Suen: Thank you for joining us on today’s call. We look forward to updating you on our next call. Operator?

Operator: Thank you. This concludes today’s call. Thank you for joining us for Airgain’s third quarter 2023 earnings call. You may now disconnect.