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AIRG

Airgain, Inc.

AIRG

Airgain, Inc. • NASDAQ
$4.07 ▲ 0.25% (+0.01)
Market Cap $48.67 M
52w High $9.15
52w Low $3.00
Dividend Yield 0%
P/E -7.98
Volume 7.94K
Outstanding Shares 11.96M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $14.018M ▲ $7.078M ▼ $-964K ▲ -6.877% ▲ $-0.08 ▲ $-851K ▼
Q2-2025 $13.623M ▲ $7.839M ▼ $-1.475M ▲ -10.827% ▲ $-0.12 ▲ $-551K ▲
Q1-2025 $12.013M ▼ $8.256M ▼ $-1.546M ▲ -12.869% ▲ $-0.13 ▲ $-2.177M ▼
Q4-2024 $15.083M ▼ $8.344M ▼ $-1.963M ▼ -13.015% ▼ $-0.17 ▼ $-1.054M ▼
Q3-2024 $16.101M $8.528M $-1.757M -10.912% $-0.16 $-931K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.146M ▼ $45.544M ▲ $15.809M ▲ $29.735M ▼
Q2-2025 $7.678M ▲ $45.521M ▼ $15.735M ▼ $29.786M ▼
Q1-2025 $7.401M ▼ $46.116M ▼ $15.79M ▼ $30.326M ▼
Q4-2024 $8.51M ▲ $48.443M ▲ $17.474M ▲ $30.969M ▲
Q3-2024 $7.346M $43.254M $12.443M $30.811M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-964K ▲ $-411K ▼ $-230K ▼ $67K ▼ $-532K ▼ $-641K ▼
Q2-2025 $-1.475M ▲ $129K ▲ $-16K ▲ $160K ▲ $277K ▲ $113K ▲
Q1-2025 $-1.546M ▲ $-1.025M ▼ $-42K ▼ $-43K ▼ $-1.109M ▼ $-1.067M ▼
Q4-2024 $-1.963M ▼ $-26K ▲ $-1K ▲ $1.203M ▲ $1.164M ▲ $-27K ▲
Q3-2024 $-1.757M $-1.179M $-27K $86K $-1.11M $-1.206M

Five-Year Company Overview

Income Statement

Income Statement Airgain’s revenue has been fairly flat in recent years, with a small bump in the middle of the period and then some softening. Gross profit has generally tracked revenue and suggests the underlying product margins are reasonable, not collapsing. The main issue is scale: operating expenses are high relative to the company’s size, so operating income and net income have stayed in the red for several years. Losses per share have widened over time, with some recent improvement, but the business is still structurally unprofitable and depends on future growth or cost discipline to change that picture.

Balance Sheet

Balance Sheet The balance sheet is clean but lean. Total assets have come down from earlier peaks, and the cash balance, while stable lately, is noticeably lower than a few years ago. On the positive side, the company carries no debt, which reduces financial risk and interest burden. Shareholders’ equity remains positive but has been gradually eroded by ongoing losses. Overall, the company still has a cushion, but not a large one, so prolonged losses would slowly tighten financial flexibility.

Cash Flow

Cash Flow Cash generation is roughly around breakeven, with operating cash flow hovering close to zero and only one recent year showing a clear cash burn. Capital spending is light, so free cash flow mirrors operating cash flow and has also stayed near flat. This indicates the company has been careful with cash and capital intensity, but it also means there has not yet been a strong, sustained cash flow tailwind from growth. The key question is whether new products can convert into enough volume to push cash flow clearly into positive territory without straining the existing cash balance.

Competitive Edge

Competitive Edge Airgain competes in a crowded communications and connectivity space but has carved out a niche through deep antenna and radio-frequency expertise. It is moving up the value chain from simple antenna components to full wireless systems, including vehicle gateways, smart repeaters, and IoT connectivity modules. Strong relationships with major carriers, device makers, and chipset vendors help it win complex design slots. A sizable patent portfolio adds some protection against direct imitation. However, the company is small relative to many rivals, which can limit pricing power and make it more vulnerable to swings in customer demand or delayed project ramps.

Innovation and R&D

Innovation and R&D Innovation is the core of Airgain’s strategy. The company is tightly focused on next‑generation standards like 5G and Wi‑Fi 6, 6E, and 7, and is already working on future platforms. Its shift toward integrated solutions—such as the AirgainConnect vehicle platform, Lighthouse smart repeaters, and NimbeLink embedded modems and asset trackers—shows an effort to capture more value per customer. A large patent base and early design wins with top‑tier customers, including for Wi‑Fi 7 gateways, signal strong technical capabilities. The main execution challenge is turning these design wins and new platforms into broad commercial adoption quickly enough to cover ongoing R&D spending and move the company toward profitability.

Summary

Airgain is a technically strong, innovation‑driven wireless company that is still searching for consistent scale and profitability. Financially, it has modest resources, a clean balance sheet with no debt, and cash flows that hover near breakeven, but recurring accounting losses continue to chip away at equity. Strategically, its move from components to integrated solutions in 5G, Wi‑Fi, automotive, and IoT markets positions it to benefit if demand for advanced connectivity keeps growing and its new products gain traction. The key things to watch are a return to steady revenue growth, a clearer path to sustained profits and positive cash flow, and evidence that its patent portfolio and design wins translate into durable, higher‑margin business over time.

NEWS

November 12, 2025 · 4:05 PM UTC

Airgain® Reports Third Quarter 2025 Financial Results

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November 11, 2025 · 8:51 AM UTC

Airgain Secures Multi-year, Multi-million Dollar Design Win with Tier 1 US Carrier's Next Gen Wi-Fi 7 Fiber Gateway

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October 16, 2025 · 8:00 AM UTC

Airgain Sets Third Quarter 2025 Conference Call for Wednesday, November 12, 2025, at 5:00 p.m. ET

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October 7, 2025 · 7:57 AM UTC

AirgainConnect® Fleet™ Achieves T-Mobile T-Priority Certification to Deliver Mission-Critical Connectivity for First Responders

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September 8, 2025 · 8:05 AM UTC

Airgain to Present at AT&T Vision FirstNet Users Summit

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