Business Description

Overview Headquartered in San Diego, California, Airgain, Inc. (NASDAQ: AIRG) is a leading provider of advanced wireless connectivity solutions. We are focused on delivering high-performance, cost-effective, and energy-efficient wireless solutions that enable rapid market deployment. Our mission is to connect the world through integrated, innovative, and optimized wireless solutions. Our diverse product portfolio serves three primary markets: enterprise, automotive, and consumer. While historically recognized for high-performance radio frequency (RF) components, Airgain is increasingly delivering integrated, system-level connectivity solutions that combine hardware, software and cloud management. Our enterprise products include Smart Network Controlled Cellular Repeaters (Smart NCRs), embedded cellular modems, asset tracking solutions, and antennas for access points and Internet of Things (IoT) applications. Our automotive products include our second-generation AirgainConnect® Fleet system solution, a low-profile, roof-mounted, all-in-one 5G vehicle gateway and our aftermarket antennas. Our consumer products include embedded antennas for consumer access points, wireless gateways, and fixed wireless access (FWA) devices. We have a rich history of providing RF expertise, services, and solutions to telecommunications operators and major original equipment manufacturers (OEMs). We leverage our RF and systems experience, and our Mobile Network Operator (MNO) and Multiple Service Operator (MSO) relationships to deliver complex and differentiated system solutions. Our competitive advantage stems from our integrated approach: Combining RF design expertise, embedded software and firmware capabilities, cloud-based device management platforms, and carrier specifications to deliver complete connectivity solutions. This systems-level approach may increase barriers to entry and enable recurring revenue opportunities through software subscriptions, cloud services, and ongoing support contracts – specifically with our AirgainConnect Cloud platform and our Lighthouse remote management capabilities. We use an outsource manufacturing model for our products while maintaining oversight for quality, test, and delivery timeline. Additionally, we uphold an intellectual property strategy that includes patent and trademark filings in multiple jurisdictions. Products and Solutions Enterprise The enterprise market demands reliable wireless access across diverse settings, including smart cities, campuses, stadiums, transportation hubs, utilities, buildings, and suburban developments. Our Lighthouse platform is a carrier-grade, high-power 5G smart repeater designed to extend coverage and offload capacity for mobile network operators and system integrators. It can be deployed both outdoors and as an in-building solution, including advanced features such as carrier aggregation, automatic gain control, echo cancellation, TDD synchronization, firmware-over-the-air (FOTA) updates, and remote management capabilities. Lighthouse supports rapid deployment and does not require wired backhaul, offering a cost-effective alternative to small cells and Distributed Antenna Systems (DAS) for coverage enhancement. In September 2025, Lighthouse obtained FCC certification, enabling U.S. deployments, and, in December 2025, we signed our first partnership agreement with a U.S. system integrator. We continue to make progress with multiple trials, including one with a Tier-1 U.S. mobile network operator, and we are working with select partners toward potential deployments beginning in early 2026, subject to customer procurement decisions and deployment readiness. System-integrator and carrier sales cycles are multi-quarter by nature, and trials and certifications are necessary but not sufficient for volume deployments. Adoption timelines are influenced by customer procurement cycles and broader carrier deployment priorities. Our NimbeLink embedded modems serve numerous enterprise IoT sectors that require cellular connectivity, including packaging, logistics, EV charging, smart buildings, agriculture, and self-service innovations. These patented and end-device certified NimbeLink cellular modems minimize the need for additional OEM end-customer carrier certifications. In 2025, we launched our NimbeLink Skywire Cat 1 bis embedded modem, expanding our portfolio of certified end-devices for industrial IoT solutions.…