Airgain Inc. said its normalized net income for the first quarter amounted to a loss of 43 cents per share, compared with a loss of 65 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $288,070, compared with a loss of $405,390 in the prior-year period.
The normalized profit margin climbed to negative 3.4% from negative 7.1% in the year-earlier period.
Total revenue grew 48.5% year over year to $8.5 million from $5.7 million, and total operating expenses climbed 39.6% year over year to $8.4 million from $6.0 million.
Reported net income totaled a loss of $543,750, or a loss of 82 cents per share, compared to a loss of $900,120, or a loss of $1.44 per share, in the prior-year period.