Airgain, Inc.

Welcome to AirGain's third quarter 2021 earnings conference call. My name is Bethany, and I will be the coordinator for today's call. Joining us for today's call are AirGain's CEO, Jacob Suen, CFO David Lau, and Senior Vice President of Product and Marketing, Murad Sabahi. As a reminder, this call will be recorded and made available for replay via a link available on in the investor relations section of Airgain's website at www.airgain.com. Following management's prepared remarks, the call will be opened up for questions from Airgain's publishing sales side analyst. I would now like to turn the call over to Mr. Lyle.

Thank you, and good afternoon to everyone. I caution listeners that during this call, Airgain management will be making forward-looking statements about future events, and AIRGAINS business strategy and future financial and operating performance. Actual results could differ materially from those stated or implied by these forward-looking statements due to risks and uncertainties associated with the company's business. These forward-looking statements are qualified by the cautionary statements contained in today's earnings release and AIRGAINS SEC filings. This conference call contains time-sensitive information that is accurate only as of the date of this live broadcast, November 9th, 2021. Ergain undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this conference call. In addition, this conference call may include a discussion of non-GAAP financial measures. Please see today's earnings release for further details, including a reconciliation of the GAAP to non-GAAP results. Now I'd like to turn the call over to our CEO, Jacob Sun. Jacob?

Thank you, Dave. Welcome, everyone, and thank you for joining us on the call today. I'll start with some commentary about Q3 financial results and then an update on the progress we've made towards executing our strategy. They will then provide Q3 financial details as well as our Q4 2021 outlook and color around how we expect 2022 to play out. Despite current global supply shortage pressure on our overall revenue, we are still quite excited and confident about the prospects for growth, both in 2022 and in subsequent years. We believe in demand for our products. It's very strong and mostly in our largest and growing markets, enterprise and automotive. This follows our strategy to grow our integrated wireless system revenue with our industrial IoT, traditional enterprise Wi-Fi systems, and our Aging Connect platform products. We are seeing growth across all of those markets in the first nine months of 2021 and expect that growth to continue into 2022. Starting with our enterprise market, we are very pleased with the contributions generated by the NeighborLink acquisition, the growth it has delivered to us, and how that is serving as a launching pad for our industrial IoT market opportunity. Existing NeighborLink products are selling very well, and future products are being developed that we believe will serve as large growth engines for AirGain over the long term. For Perspective, In the first nine months of this year, neighboring product revenue has already exceeded its revenue for the entire year of 2020. Looking forward, we have a large opportunity pipeline. In the past quarter, we won major designs with a North American manufacturer of motorcycles, snowmobiles, ATV, and neighborhood electric vehicles, a public safety operating system company, that helps communities and law enforcement to eliminate crime, and a managed wireless solutions company, each of which are expected to generate multimillion-dollar lifetime revenues. The combination of Ergen's historical competency coupled with the NimbleLink business is surpassing all of our previous expectations, and we have high confidence that this success will continue in 2022. In addition, on the enterprise market front, we are beginning to see material orders for our new integrated wireless system product at our top tier global traditional enterprise Wi-Fi customer. This new product, targeted at large venues like stadiums and arenas, was previously anticipated to launch last summer. but was delayed by COVID-19. With large venues opening back up, we are now seeing demand for that product. We expect this to rip now and throughout 2022. Moving to the automotive market, we continue to be excited about the prospects for growth out of the AirGain Connect platform. The Q3 promotion from AT&T coupled with our own promotion with our distributors and resellers has generated an uptick in opportunities and the promotion was extended into Q4. Our team is actively developing follow-on products based on the AirGain Connect platform that will further increase in already very last time. Moving to our aftermarket lead products, as part of AirGain's automotive target market, we have seen revenue pressure from the global supply shortage. However, we are beginning to see an uptick in demand starting in Q1 2022, particularly as we ramp into a new product for a large long-term customer that develops technology and weapon products for military, law enforcement, and civilians. On the consumer market front, we are still seeing really strong end customer demand and again stands ready to ship product into our OEMs when they are able to procure parts to assemble product. We are getting indications from our direct OEM customers as well as from our service provider and customers that 2022 year plans remain the same as before the supply shortage and that demand is strong. Based on their feedback, we should see orders resume in Q1 2022. All in all, we are very pleased with the performance of our underlying business in light of the difficult global supply shortages and will stay focused on executing on what we can control. We are especially encouraged by the momentum in our integrated wireless systems growth as we transition from a component internal supplier to a system solution provider. our embedded passive antenna components revenue, it's still contributing materially to our overall revenue despite our customers being impacted by the transitory global supply chain shortages. Now, I would like to turn the call back over to Dave, who will walk us through the financial highlights. Dave?