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Subsequent Events | 12 Months Ended
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Dec. 31, 2021
Subsequent Events [Abstract] |
Subsequent Events | Note 20. Subsequent Events CFO transition On February 8, 2022, the Company announced the resignation of its Chief Financial Officer and Secretary effective at the end of the day on March 1, 2022. Revolving Line of Credit On February 18, 2022 (the “Effective Date”), the Company and its subsidiary, NimbeLink Corp (together the “Borrowers”), entered into a loan and security agreement (the Loan Agreement) with Silicon Valley Bank (SVB), pursuant to which the Borrowers have a revolving line of credit (the Revolving Line of Credit) for $4.0 million. The Revolving Line of Credit allows for a maximum advance of 80% of the aggregate face amount of eligible receivables and bears interest at an interest rate of WSJ prime plus 1.75%. SVB has a first security interest in all of the Borrowers' assets, excluding intellectual property, for which SVB has a negative pledge. The Revolving Line of Credit will mature on February 18, 2023. Arizona facility shut down In February 2022, the Company determined to move of its in-house manufacturing operations to external contract manufacturers. As a result, the Company will shut down its Arizona manufacturing operations where aftermarket fleet and AirgainConnect products are produced. The shut down of the operations in Arizona is expected to be completed in the second quarter of 2022. The Company estimates that it will incur total aggregate charges of approximately $20,000, mostly related to severance and related costs. The Company does not expect to incur lease exit costs as the lease terminates in April 2022. The Company expects that most of these charges will be cash expenditures and expects to recognize most of these charges in the first quarter of 2022. Potential product warranty claims In January 2022, the Company was notified of a potential product warranty claim. The Company is currently in the early stages of evaluating the claim and has not yet identified the root cause of the issue. A loss is reasonably possible, however, the Company cannot reasonably estimate the impact of the potential loss at the date of filing.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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