Business
Airgain® Announces CFO Transition Plan and Reaffirms and Narrows 4Q 2021 Revenue Range Guidance That Exceeds Previous Midpoint
CFO David Lyle to provide Consulting Services After March 1 Departure. SAN DIEGO--(BUSINESS WIRE)-- Airgain, Inc. (NASDAQ: AIRG), a leading provider of
About this update from Airgain, Inc.
[{"type":"text","content":"\nCFO David Lyle to provide Consulting Services After March 1 Departure.\n\n SAN DIEGO--(BUSINESS WIRE)--\nAirgain, Inc. (NASDAQ: AIRG), a leading provider of advanced wireless connectivity technologies and systems, today announced that Chief Financial Officer (CFO) David Lyle will be leaving the Company on March 1, 2022. Mr. Lyle will provide consulting services beyond March 1, 2022, until the Company’s 10-K is filed.\n\n“Over the last two years, Dave has played a critical role as a part of our executive leadership team,” said Airgain President and CEO, Jacob Suen. “His expertise was vital in our successful pivot from an embedded antenna technology company focused on the consumer market to a wireless integrated systems company focused on larger and faster growing enterprise and automotive markets. Dave’s tireless efforts, both internally and externally, have been outstanding and are greatly appreciated. He has built a highly competent and resilient finance and accounting team that will support our Company’s future growth. On a personal level, I will miss working with Dave, who has been a great CFO and a close business advisor. On behalf of Airgain’s employees and the Board of Directors, I wish Dave great success in his new endeavor.”\n\n“I have made the very difficult decision to leave Airgain to pursue another opportunity with a company in the healthcare industry,” said Mr. Lyle. “I am proud to have been a member of a leadership team that successfully transformed and repositioned Airgain for strong growth across increasingly lucrative and scalable end-markets. I believe Airgain’s best days are ahead, and I appreciate the consideration of the board and leadership team as I pursue my next opportunity.”\n\n“Dave will continue to support us in the transition process as we recruit a new CFO to build upon the solid foundation that Dave has established,” added Mr. Suen. “We are also grateful that Dave will continue to assist Airgain as a consultant beyond March 1 until the 10-K filing is complete.”\n\nThe Company is reaffirming and narrowing its revenue guidance for the fourth quarter 2021 ended December 31, 2021 to between $14.0 million to $14.2 million, which is above the previous mid-point of guidance of $14 million issued on November 9, 2021.\n\n“We achieved our revenue goal in the fourth quarter of 2021, and we are pleased to se...