Airgain, Inc. (Airgain) provides wireless connectivity solutions. The company offers a range of embedded components, external antennas, and integrated systems worldwide. The company streamlines wireless connectivity across devices and markets, with a focus on solving complex connectivity challenges, expediting time to market, and optimizing wireless signals. The company’s product portfolio focuses on three key markets: enterprise, consumer, and automotive.
The company’s enterprise products incl...
Airgain, Inc. (Airgain) provides wireless connectivity solutions. The company offers a range of embedded components, external antennas, and integrated systems worldwide. The company streamlines wireless connectivity across devices and markets, with a focus on solving complex connectivity challenges, expediting time to market, and optimizing wireless signals. The company’s product portfolio focuses on three key markets: enterprise, consumer, and automotive.
The company’s enterprise products include embedded cellular modems, antennas for access points and Internet of Things (IoT) applications, and asset trackers. The company expects to expand its product offering with fixed wireless access solutions and Smart Network Controlled Cellular Repeaters (Smart NCRs). The company’s consumer products include embedded antennas for consumer access points, wireless gateways, smart home devices and fixed wireless access devices. The company’s automotive products include aftermarket antennas that are typically connected to third-party cellular and Wi-Fi-enabled routers, digital video evidence devices, and telematics gateways. The company also launched a second generation AirgainConnect Fleet system solution – a low profile, roof-mounted 5G vehicle gateway, combining a cellular modem, antennas, and additional features into a single device.
The company provides radio frequency (RF) expertise, services, and solutions to mobile operators and major original equipment manufacturers (OEMs). With the addition of NimbeLink products in 2021, the company expanded its capabilities to include embedded cellular modems, asset trackers and custom IoT systems. The company is leveraging its RF and systems experience, and its Mobile Network Operator (MNO) and Multiple Service Operator (MSO) relationships to deliver new and differentiated products.
In 2022, the company transitioned to an outsource manufacturing model for its products while maintaining oversight for quality, test, and delivery timeline. The company also maintains an intellectual property strategy that includes patent and trademark filings in multiple jurisdictions. As of December 31, 2023, the company had over 280 issued and pending patents worldwide.
Products and Solutions
Enterprise
The enterprise market requires reliable wireless access across various settings, including smart cities, utilities, factories, buildings, campuses, transportation hubs, stadiums, and suburban developments.
The company’s NimbeLink embedded modems serve numerous enterprise sectors requiring cellular connectivity, such as packaging, logistics, EV charging, smart cities, smart buildings, agriculture, and asset tracking. These NimbeLink cellular modems, which are both patented and end-device certified, minimize the need for additional carrier certifications. The company’s customers benefit from these end-device certified modems with lower development costs and faster time to market. Offering a wide array of LTE solutions and products with integrated GPS/GNSS radios, the company’s NimbeLink modems are pin-compatible, facilitating seamless integration and simplifying technology transitions. The company also offers embedded modems with optional recurring subscription-based cellular data plans. The company’s embedded modems are shipping to distribution partners and directly to OEMs.
The company’s asset trackers are deployed across transportation, supply chain, cold chain, and other specialized applications. The company’s asset tracking solution utilizes a cellular backbone with Wi-Fi and GPS triangulation, along with various sensors like temperature, motion, distance, tilt, and humidity to monitor asset location and condition in various environments. In addition to hardware, the company’s asset tracking offering includes a recurring revenue component, its subscription-based NLink cloud-based device enablement platform, which allows for deployment and integration with enterprise systems via open APIs. The company also offers subscription-based dashboards for viewing asset tracker information, should a customer desire a full solution. Recurring revenue for asset trackers also includes optional cellular data plans. The company’s asset tracker solutions are primarily shipping to OEMs.
The company’s custom products feature joint engineering collaboration with strategic customers to develop industrial IoT products (IIoT) for specific applications while helping them reduce their time to market. For example, one of its joint engineering collaboration is with a large IoT customer for a small-size and purpose-built ethernet to cellular router with custom software. Another example of its custom products is a rugged cellular modem purpose-built for outdoor ATV (all-terrain vehicle), motorcycle, and off-roading applications. These examples highlight the company’s dedication to partnerships and delivering high quality, fast time-to-market, and purpose-built custom products. The company will continue to invest in strategic custom opportunities as they arise.
The company’s enterprise IoT and machine-to-machine (M2M) antennas are extensively deployed in diverse systems, devices, and applications, including access points, gateways, fixed wireless access devices and utility meters. The company’s antenna systems are shipping to major enterprise OEMs and distribution partners.
In 2023, the company unveiled a new line of Fixed Wireless Access products designed to address 5G connectivity challenges, reduce deployment costs and enhance customer experiences. In 2023, the company also announced its Lighthouse smart repeaters platform designed to reduce an operator’s capital expenses for extending range, while enhancing 5G coverage. The company’s outdoor 5G Lantern Fixed Wireless Access (FWA) device has integrated high-performance directional antennas, a 5G NR Sub-6 modem, and is powered through a 2.5 gigabit ethernet PoE (power over ethernet) connection. The Lantern 5G FWA has been ruggedized for outdoor use, includes remote management capabilities, and a Wi-Fi based easy installation web interface to help simplify the user experience. The company expects Lantern to receive certification at select MNOs, and begin shipping in the first half of 2024. The company’s Lighthouse smart repeater platform includes both a low-power small office and home office (SOHO) device targeting customers that need additional coverage in small areas, as well as a high-power outdoor network repeater for MNOs and systems integrators. Lighthouse smart repeaters include advanced carrier aggregation (CA), low latency, software upgradeability to support network-controlled repeater (NCR) standards, optional smart antenna technology to assist with installation and maintenance, and an optional remote management system. The smart network repeater also integrates advanced automatic gain control and echo cancellation enabling single-pole installation. Lighthouse is in MNO field trials around the world.
Consumer
The company’s embedded antennas are deployed in various consumer applications including access points, wireless gateways, FWA devices, Wi-Fi routers and extenders, smart TVs, smart home devices, and set-top boxes. These consumer products support a variety of technologies, products and services, including LTE, 5G, Wi-Fi, Bluetooth, LPWAN and GNSS (Global Navigation Satellite System).
The company collaborates closely with chipset providers, carriers, original design manufacturers (ODMs), and OEMs to develop highly integrated and tailored embedded antenna solutions. The company’s relationships with MSOs, ODMs and OEMs are strengthened by its comprehensive and repeatable Over-the-Air test capabilities for Wi-Fi, LTE, 5G, LPWAN, and Bluetooth. Service providers are increasingly transitioning to gigabit Wi-Fi, up to and including Wi-Fi 7. The company has invested in next-generation Wi-Fi 7 design and testing capabilities. The company expects the combination of Wi-Fi 7 and 5G will be a growth driver for its solutions as the number of antennas per device increases.
The company announced in November 2023 that Airgain was selected by a major Tier 1 MNO in North America to supply its next generation antennas for its indoor FWA devices. This 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 company continues to grow its relationships with MSOs and MNOs as the market evolves with both wired and wireless broadband internet offerings.
Automotive
In the automotive market, the company’s products are deployed in a wide range of vehicles in the fleet and aftermarket applications, supporting a variety of technologies that include Wi-Fi, LTE, 5G, LPWAN, GNSS, and Bluetooth. Fleet and aftermarket products in the automotive market typically consist of applications where vehicular wireless routers are paired with external antenna systems to provide connectivity to mobile assets. Within this market, there has been increasing demand for constant connectivity, specifically in the first responder, utility, agriculture, and service fleet markets.
The company offers a full line of external fleet antennas that are designed to be rugged, reliable, and flexible to meet almost any need. The company designs its products for performance, quality, and long product life and its antennas connect to almost any vehicular router or modem. These antennas include high-performance and low-profile versions that mount on the roof, trunk, windshield, or dashboard and are optimized for 5G, 4G, Wi-Fi, and GNSS. Fleet antennas have a five-year limited warranty, which is the longest in the industry, and it offers up to IP67 and IP69K ratings for extended use in the harshest of environments. The deployment of EZConnect cable harnesses in 2023 offers flexible cable lengths and connector types that simplify ordering, inventory management, and installation.
In 2020, the company introduced the AC-HPUE product, the first antenna-modem from its AirgainConnect platform. The AC-HPUE integrated a high-power LTE modem with high gain antennas in one enclosure to reduce signal loss and support transmission of the maximum allowable Power Class 1 radiated power. In January 2024, the company launched its next-generation product named AirgainConnect Fleet (AC-Fleet). The AC-Fleet solution is 5G and carrier agnostic allowing for a significantly larger target market compared to the AC-HPUE solution. AC-Fleet is one of the first low profile, roof-mounted 5G vehicle gateway, combining the latest 5G NR (New Radio) modem and a Wi-Fi 6 router all in one covert form factor. At only two inches tall, AC-Fleet provides flexibility across multiple markets including public safety, transportation, transit, public and private fleets, and vehicles. The company expects its AC-Fleet platform to include hardware and a recurring revenue component including an optional annual subscription for remote access, cloud management, technical support, software updates, and extended warranty. The company expects AC-Fleet to receive certification at select MNOs, and begin shipping in the second half of 2024.
Growth Strategy
As a global wireless connectivity solutions provider, Airgain solves critical connectivity challenges across the value chain. The company is transitioning from being exclusively a component manufacturer to a wireless system solutions provider, targeting higher levels of integration and complexity, as such, its growth strategy is focused on two key elements: grow its established business; and expand and innovate in connectivity.
Sales and Marketing
The company’s sales and marketing organizations work together closely to improve market awareness, build a strong sales pipeline, and cultivate ongoing customer relationships to drive sales growth.
Sales
The company’s global sales efforts consist of direct and indirect sales teams, and indirect channel partners. The company’s direct sales team consists of sales personnel based in the United States, Greater China, South Korea, and Europe, while its indirect channel partners consist of distributors, engineering design companies and outside sales representatives across North America, Asia, Europe, Australia, Middle East, and Latin America.
The company’s direct sales team is engaged in pre-sales, account management, and creating partnership opportunities with third parties, such as service providers and – OEMs. The sales process includes meeting and qualifying potential customers, and actively managing the planning stage of devices they project to bring to market. The company’s field application engineers (FAEs) assist these programs by providing technical support to existing customers.
The company’s indirect channel partners provide lead generation, pre-sales support, product fulfillment and, in certain circumstances, post-sales customer service and support. This channel partner network often co-sells with the company’s direct sales team. The company’s channel partners provide us with additional sales leverage by sourcing new prospects, providing technical support to existing customers, upselling additional use cases, and maintaining repeat business with existing customers.
Marketing
The company’s marketing strategy is focused on building a competitive advantage for its brands and products in the marketplace. The company targets two types of customers. For embedded products such as its NimbeLink modems and consumer antennas, it targets design teams within OEMs and ODMs. For its integrated products, such as the company’s asset trackers, FWA Lantern, and AirgainConnect AC-Fleet, it targets end user markets. The company uses both direct and indirect promotional methods to engage its audiences. Direct methods include advertising, web properties, marketing collateral, email campaigns, paid and organic social media, search engine marketing, media relations, content marketing, direct mail, tradeshows and events, and general lead generation tactics. Indirect methods include co-marketing efforts together with resellers, distributors, system integrators, hardware and software partners, and carriers both domestically and internationally.
Seasonality
The company’s operating results are affected by how customers make purchasing decisions around local holidays in China. Although it is difficult to make broad generalizations, the company’s sales tend to be lower in the first quarter of each year (year ended December 31, 2023) compared to other quarters due to the Lunar New Year.
Competition
Solution Providers
This category represents companies that manufacture a wide variety of products across the value chain including end-device hardware, software, components, services, and more. This includes Digi International Inc., Laird Connectivity, Multi-Tech Systems Inc., Nextivity Inc., Pulse Electronics, Samsara, Semtech , TE Connectivity, and Wilson Electronics, among others. With the company’s shift in business model towards solutions, many of these companies are direct competitors.
Component Manufacturers
This category represents companies that manufacture a broad array of components that compete both directly and indirectly with the company’s products. This includes Adant Technologies Inc., Asian Creation Communications Factory, Kyocera AVX, Baylin Technologies Inc., Blues Wireless, Fibocom, Fractus S.A., Honglin Technology Group Ltd., MobileMark, Nordic Semiconductor, Panorama Antennas, Parsec Technologies, Inc, Particle Industries Inc., PCTEL, Inc., Pinyon Technologies, Inc., Qualcomm, Quectel, Semtech, Sunwave Communications Co., Ltd., Telit, Ublox, Taoglas Limited, Wanshih Electronic Co. Ltd., WHA YU Industrial Co., Ltd, and 2J Antennas Group, among others.
In-house Design and Engineering Teams
Several of the company’s existing customers, including OEMs and ODMs which design and build complete wireless devices, also have internal resources to design, engineer, and produce antenna and modem solutions. In such cases, the company competes against the captive resource of that ODM. Several ODMs, including Arcadyan Technology Corporation, Foxconn Electronics Inc., Gemtek, Zyxel Communications, Inc. (MitraStar Technology), and Wistron Corporation, design, manufacture, and sell complete wireless devices, in direct competition with it.
Intellectual Property
As of December 31, 2023, the company’s intellectual property portfolio comprised more than 280 patents that have been granted or applications that have been made public and submitted across the United States, Europe, and Asia. The scope of these patents encompasses the company’s product offerings and technological advancements, with their terms of validity extending from the year 2024 until 2040. This patent collection encapsulates a diverse array of innovations pioneering antenna designs and structures, as well as the assembly and fabrication processes for a comprehensive spectrum of wireless communication technologies, including cellular, Wi-Fi, Bluetooth (BT), and Global Positioning System (GPS).
In line with the company’s strategic evolution from a component supplier to a provider of comprehensive wireless system solutions, it has systematically grown its patent repository, escalating its filings to include broader wireless system functionalities and infrastructures.
Taken together, these patents with priority dates as far back as November 2003 form both a barrier to competition and a licensable asset for customers in the MIMO and antenna assembly categories.
History
The company was founded in 1995. The company was incorporated in the state of California in 1995 and reincorporated in the state of Delaware in 2016. The company was formerly known as AM Group and changed its name to Airgain, Inc. in 2004.
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