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Airgain (AIRG) Financials

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$5.93 -0.06 (-1.00%)
Closing price 04:00 PM Eastern
Extended Trading
$5.94 +0.02 (+0.25%)
As of 04:10 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Airgain

Annual Income Statements for Airgain

This table shows Airgain's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -2.72 2.20 1.14 -2.58 0.93 -3.28 -10 -8.66 -12 -8.69 -6.43
Consolidated Net Income / (Loss)		 -0.27 3.73 1.14 -2.58 0.93 -3.28 -10 -8.66 -12 -8.69 -6.43
Net Income / (Loss) Continuing Operations		 -0.27 3.73 1.14 -2.58 0.93 -3.28 -10 -8.66 -12 -8.69 -6.43
Total Pre-Tax Income 		-0.27 3.74 1.17 -2.48 1.09 -3.01 -12 -8.58 -12 -8.84 -6.35
Total Operating Income		 -0.33 3.45 0.97 -3.39 0.38 -3.18 -12 -8.58 -12 -8.93 -8.48
Total Gross Profit		 12 19 23 27 25 23 25 28 21 25 23
Total Revenue		 28 43 50 61 56 49 64 76 56 61 52
Operating Revenue		 28 43 50 61 56 49 64 76 56 61 52
Total Cost of Revenue		 16 24 26 34 30 26 40 48 35 36 29
Operating Cost of Revenue		 16 24 26 34 30 26 40 48 35 36 29
Total Operating Expenses		 12 16 22 30 25 26 37 37 33 34 31
Selling, General & Admin Expense		 3.45 4.53 8.00 9.55 8.92 10 14 14 14 13 12
Marketing Expense		 4.04 5.67 7.01 11 7.04 6.14 10 11 9.13 9.20 9.33
Research & Development Expense		 4.26 5.62 7.32 9.32 8.99 9.16 11 11 11 12 9.54
Total Other Income / (Expense), net		 0.06 0.29 0.20 0.90 0.71 0.18 -0.01 0.01 0.10 0.12 2.13
Interest & Investment Income		 - - - - - - - - - 0.00 1.99
Other Income / (Expense), net		 0.10 0.47 0.30 0.93 0.71 0.18 -0.01 0.01 0.10 0.12 0.14
Income Tax Expense		 0.00 0.01 0.03 0.10 0.16 0.27 -2.05 0.08 0.13 -0.15 0.07
Basic Earnings per Share		 ($4.17) $0.65 $0.12 ($0.27) $0.10 ($0.34) ($1.01) ($0.85) ($1.20) ($0.79) ($0.54)
Weighted Average Basic Shares Outstanding		 651.59K 3.37M 9.49M 9.52M 9.68M 9.71M 10.02M 10.19M 10.39M 11.05M 11.84M
Diluted Earnings per Share		 ($4.30) $0.40 $0.11 ($0.27) $0.09 ($0.34) ($1.01) ($0.85) ($1.20) ($0.79) ($0.54)
Weighted Average Diluted Shares Outstanding		 651.59K 4.67M 10.36M 9.52M 10.10M 9.71M 10.02M 10.19M 10.39M 11.05M 11.84M
Weighted Average Basic & Diluted Shares Outstanding		 700K 3.40M 9.50M 10.03M 9.69M 10.35M 10.19M 10.26M 10.50M 11.56M 12.22M

Quarterly Income Statements for Airgain

This table shows Airgain's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -1.88 -5.48 -2.46 -2.51 -1.76 -1.96 -1.55 -1.48 -0.96 -2.44 -1.90
Consolidated Net Income / (Loss)		 -1.88 -5.48 -2.46 -2.51 -1.76 -1.96 -1.55 -1.48 -0.96 -2.44 -1.90
Net Income / (Loss) Continuing Operations		 -1.88 -5.48 -2.46 -2.51 -1.76 -1.96 -1.55 -1.48 -0.96 -2.44 -1.90
Total Pre-Tax Income 		-1.88 -5.44 -2.60 -2.48 -1.80 -1.97 -1.52 -1.46 -0.95 -2.42 -1.83
Total Operating Income		 -1.91 -5.49 -2.63 -2.51 -1.81 -1.98 -3.10 -2.00 -0.97 -2.42 -2.11
Total Gross Profit		 5.24 2.93 5.58 6.15 6.71 6.36 5.16 5.84 6.11 5.44 4.97
Total Revenue		 14 10 14 15 16 15 12 14 14 12 12
Operating Revenue		 14 10 14 15 16 15 12 14 14 12 12
Total Cost of Revenue		 8.46 7.14 8.66 9.04 9.39 8.72 6.85 7.78 7.91 6.69 6.54
Operating Cost of Revenue		 8.46 7.14 8.66 9.04 9.39 8.72 6.85 7.78 7.91 6.69 6.54
Total Operating Expenses		 7.15 8.41 8.21 8.65 8.54 8.36 8.26 7.84 7.08 7.86 7.09
Selling, General & Admin Expense		 3.14 3.00 2.93 3.19 3.28 3.27 3.29 2.87 2.79 3.21 2.51
Marketing Expense		 1.70 2.25 2.16 2.35 2.40 2.30 2.46 2.42 2.14 2.30 2.33
Research & Development Expense		 2.30 3.17 3.12 3.12 2.86 2.77 2.50 2.55 2.14 2.35 2.25
Total Other Income / (Expense), net		 0.03 0.06 0.03 0.03 0.03 0.03 1.57 0.54 0.01 0.00 0.27
Other Income / (Expense), net		 0.03 0.06 0.03 0.03 0.03 0.03 0.08 0.04 0.01 0.00 0.27
Income Tax Expense		 0.00 0.04 -0.14 0.03 -0.04 -0.01 0.02 0.01 0.01 0.03 0.07
Basic Earnings per Share		 ($0.18) ($0.53) ($0.23) ($0.23) ($0.16) ($0.17) ($0.13) ($0.12) ($0.08) ($0.21) ($0.15)
Weighted Average Basic Shares Outstanding		 10.43M 10.39M 10.53M 10.94M 11.32M 11.05M 11.58M 11.84M 11.79M 11.84M 12.31M
Diluted Earnings per Share		 ($0.18) ($0.53) ($0.23) ($0.23) ($0.16) ($0.17) ($0.13) ($0.12) ($0.08) ($0.21) ($0.15)
Weighted Average Diluted Shares Outstanding		 10.43M 10.39M 10.53M 10.94M 11.32M 11.05M 11.58M 11.84M 11.79M 11.84M 12.31M
Weighted Average Basic & Diluted Shares Outstanding		 10.44M 10.50M 10.78M 11.30M 11.34M 11.56M 11.79M 11.90M 11.96M 12.22M 12.68M

Annual Cash Flow Statements for Airgain

This table details how cash moves in and out of Airgain's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 1.75 40 -30 -1.40 -0.42 25 -24 -2.61 -4.10 0.59 -1.15
Net Cash From Operating Activities		 1.85 4.67 -0.26 1.38 2.37 3.70 -11 4.45 -3.30 -3.53 -1.11
Net Cash From Continuing Operating Activities		 1.85 4.67 -0.26 1.38 2.37 3.70 -11 4.45 -3.30 -3.53 -1.11
Net Income / (Loss) Continuing Operations		 -0.27 3.73 1.14 -2.58 0.93 -3.28 -10 -8.66 -12 -8.69 -6.43
Consolidated Net Income / (Loss)		 -0.27 3.73 1.14 -2.58 0.93 -3.28 -10 -8.66 -12 -8.69 -6.43
Depreciation Expense		 0.46 0.50 0.44 0.59 0.49 0.46 0.55 0.68 0.66 0.55 0.46
Amortization Expense		 0.01 0.37 0.49 0.48 0.34 0.69 3.00 3.03 2.97 3.16 3.24
Non-Cash Adjustments To Reconcile Net Income		 0.51 -0.16 0.74 2.95 2.20 2.58 4.07 2.88 3.68 4.64 2.96
Changes in Operating Assets and Liabilities, net		 1.14 0.23 -3.06 -0.05 -1.60 3.25 -8.70 6.53 1.82 -3.18 -1.35
Net Cash From Investing Activities		 -4.13 -0.28 -28 0.34 -2.40 21 -15 -0.75 -0.35 -0.18 -0.39
Net Cash From Continuing Investing Activities		 -4.13 -0.28 -28 0.34 -2.40 21 -15 -0.75 -0.35 -0.18 -0.39
Purchase of Property, Plant & Equipment		 -0.13 -0.28 -0.26 -0.99 -1.21 -0.73 -0.74 -0.76 -0.35 -0.18 -0.17
Acquisitions		 -4.00 - -6.35 0.00 - 0.00 -14 - - 0.00 -0.22
Net Cash From Financing Activities		 4.03 35 -2.06 -3.12 -0.39 0.56 2.43 -6.30 -0.46 4.30 0.35
Net Cash From Continuing Financing Activities		 4.03 35 -2.06 -3.12 -0.39 0.56 2.43 -6.30 -0.46 4.30 0.35
Issuance of Common Equity		 - - 0.59 0.77 0.84 1.17 2.53 0.23 0.23 4.40 0.54
Other Financing Activities, net		 0.30 -3.34 0.00 -0.38 - - 0.00 -6.53 -0.69 -0.09 -0.19
Effect of Exchange Rate Changes		 - - - - - - - - 0.00 -0.01 0.00
Cash Income Taxes Paid		 0.01 - 0.10 0.05 0.07 0.16 0.15 0.20 0.11 0.03 -0.06

Quarterly Cash Flow Statements for Airgain

This table details how cash moves in and out of Airgain's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 0.64 -2.11 -0.71 1.25 -1.11 1.16 -1.11 0.28 -0.59 0.27 -0.18
Net Cash From Operating Activities		 0.64 -1.94 -1.12 -1.20 -1.18 -0.03 -1.03 0.13 -0.41 0.19 -0.76
Net Cash From Continuing Operating Activities		 0.64 -1.94 -1.12 -1.20 -1.18 -0.03 -1.03 0.13 -0.41 0.19 -0.76
Net Income / (Loss) Continuing Operations		 -1.88 -5.48 -2.46 -2.51 -1.76 -1.96 -1.55 -1.48 -0.96 -2.44 -1.90
Consolidated Net Income / (Loss)		 -1.88 -5.48 -2.46 -2.51 -1.76 -1.96 -1.55 -1.48 -0.96 -2.44 -1.90
Depreciation Expense		 0.16 0.16 0.15 0.14 0.13 0.13 0.12 0.11 0.10 0.12 0.10
Amortization Expense		 0.74 0.74 0.87 0.74 0.75 0.80 0.80 0.80 0.82 0.82 0.22
Non-Cash Adjustments To Reconcile Net Income		 0.51 1.21 1.03 1.24 1.06 1.30 0.91 0.60 0.38 1.07 0.43
Changes in Operating Assets and Liabilities, net		 1.11 1.44 -0.71 -0.82 -1.36 -0.29 -1.31 0.09 -0.75 0.62 0.39
Net Cash From Investing Activities		 -0.07 -0.17 -0.06 -0.09 -0.03 -0.00 -0.04 -0.02 -0.23 -0.10 -0.14
Net Cash From Continuing Investing Activities		 -0.07 -0.17 -0.06 -0.09 -0.03 -0.00 -0.04 -0.02 -0.23 -0.10 -0.14
Purchase of Property, Plant & Equipment		 -0.07 -0.17 -0.06 -0.09 -0.03 -0.00 -0.04 -0.02 -0.01 -0.10 -0.06
Acquisitions		 - - - - - - 0.00 - - - -0.09
Net Cash From Financing Activities		 0.07 - 0.47 2.54 0.09 1.20 -0.04 0.16 0.07 0.17 0.72
Net Cash From Continuing Financing Activities		 0.07 - 0.47 2.54 0.09 1.20 -0.04 0.16 0.07 0.17 0.72
Issuance of Common Equity		 - 0.23 0.49 2.52 - 1.39 0.00 - - 0.54 0.63
Other Financing Activities, net		 0.07 -0.23 -0.02 0.03 0.09 -0.19 -0.04 0.16 0.07 -0.38 0.09
Effect of Exchange Rate Changes		 - 0.00 -0.00 -0.00 0.01 -0.01 0.00 0.00 -0.01 0.01 0.00
Cash Interest Paid		 - - - - - - 0.00 - - - 0.00
Cash Income Taxes Paid		 0.01 0.03 0.06 0.03 0.00 -0.06 0.00 0.03 0.02 -0.10 0.00

Annual Balance Sheets for Airgain

This table presents Airgain's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 15 56 56 53 55 55 66 54 42 48 45
Total Current Assets		 9.38 51 46 43 45 45 35 27 19 26 26
Cash & Equivalents		 5.34 45 15 14 13 38 15 12 7.88 8.51 7.36
Accounts Receivable		 3.73 5.15 8.42 7.01 7.66 4.78 11 8.74 7.38 12 13
Inventories, net		 0.12 0.15 0.74 1.35 1.19 1.02 8.95 4.23 2.40 3.95 3.58
Prepaid Expenses		 0.19 0.35 0.61 0.93 1.36 1.46 1.27 2.28 1.42 1.17 0.87
Other Current Assets		 - - - - - - - - - 0.53 1.18
Plant, Property, & Equipment, net		 1.03 0.81 1.04 1.40 2.13 2.38 2.70 2.77 2.51 1.99 1.70
Total Noncurrent Assets		 4.85 4.44 9.18 8.42 7.51 7.12 28 24 21 21 18
Goodwill		 1.25 1.25 3.70 3.70 3.70 3.70 11 11 11 11 11
Intangible Assets		 3.48 3.11 5.13 4.45 3.80 3.17 14 11 8.23 5.80 2.79
Other Noncurrent Operating Assets		 0.12 0.08 0.35 0.27 0.01 0.25 3.13 2.43 1.56 3.98 4.25
Total Liabilities & Shareholders' Equity		 15 56 56 53 55 55 66 54 42 48 45
Total Liabilities		 12 11 10 7.76 6.82 7.19 22 15 11 17 17
Total Current Liabilities		 7.58 9.24 9.73 7.51 6.76 6.86 20 13 9.99 14 13
Accounts Payable		 2.87 3.95 3.97 4.14 3.84 2.98 5.47 6.51 6.47 9.50 9.21
Accrued Expenses		 2.08 2.90 3.43 3.29 0.34 1.19 2.83 5.49 1.93 3.91 2.95
Current Deferred Revenue		 1.00 1.00 1.00 0.08 0.09 0.04 8.73 0.00 0.00 - 0.00
Other Current Liabilities		 - - - - 2.49 2.66 2.85 0.90 1.59 0.09 0.82
Total Noncurrent Liabilities		 3.99 1.79 0.34 0.25 0.06 0.33 2.33 1.68 0.83 3.97 4.07
Noncurrent Deferred Revenue		 0.56 0.45 0.33 0.21 0.01 0.27 - - - - 0.00
Noncurrent Deferred & Payable Income Tax Liabilities		 - 0.01 0.01 0.04 0.05 0.06 0.11 0.14 0.15 0.16 0.19
Other Noncurrent Operating Liabilities		 0.71 - - - - 0.00 2.22 1.54 0.67 3.81 3.88
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -39 45 46 45 48 48 44 40 31 31 28
Total Preferred & Common Equity		 -39 45 46 45 48 48 44 40 31 31 28
Total Common Equity		 -45 45 46 45 48 48 44 40 31 31 28
Common Stock		 1.09 89 90 94 97 100 107 111 115 124 127
Retained Earnings		 -46 -44 -42 -45 -44 -47 -57 -66 -79 -87 -94
Treasury Stock		 - - -1.26 -3.43 -4.66 -5.27 -5.36 -5.36 -5.36 -5.36 -5.36
Accumulated Other Comprehensive Income / (Loss)		 - - -0.02 -0.01 0.01 0.00 - 0.00 0.00 -0.00 -0.00

Quarterly Balance Sheets for Airgain

This table presents Airgain's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 46 43 42 43 46 46 46 43
Total Current Assets		 22 21 21 23 24 25 25 24
Cash & Equivalents		 9.99 7.17 8.42 7.35 7.40 7.68 7.09 7.13
Accounts Receivable		 6.27 9.64 8.64 12 11 12 13 11
Inventories, net		 3.95 2.59 3.14 2.62 3.76 3.72 3.66 4.07
Prepaid Expenses		 2.04 1.42 1.11 1.50 1.50 1.33 1.61 0.97
Other Current Assets		 - - - - - - - 0.41
Plant, Property, & Equipment, net		 2.45 2.31 2.22 2.13 1.91 1.80 1.72 1.59
Total Noncurrent Assets		 22 20 19 18 20 19 19 18
Goodwill		 11 11 11 11 11 11 11 11
Intangible Assets		 8.98 7.49 6.75 6.01 5.01 4.22 3.63 3.00
Other Noncurrent Operating Assets		 1.77 1.34 1.31 1.01 4.32 4.10 4.12 4.11
Total Liabilities & Shareholders' Equity		 46 43 42 43 46 46 46 43
Total Liabilities		 11 12 11 12 16 16 16 15
Total Current Liabilities		 9.51 12 10 12 11 12 12 12
Accounts Payable		 5.43 7.16 5.84 7.44 7.87 7.06 7.94 7.07
Accrued Expenses		 3.18 3.65 3.58 3.81 3.33 4.15 3.16 3.60
Current Deferred Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Current Liabilities		 0.91 0.85 0.88 0.85 0.20 0.57 0.73 0.83
Total Noncurrent Liabilities		 1.02 0.63 0.54 0.34 4.40 3.95 3.98 3.87
Noncurrent Deferred Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Noncurrent Deferred & Payable Income Tax Liabilities		 0.15 0.16 0.17 0.16 0.17 0.17 0.16 0.19
Other Noncurrent Operating Liabilities		 0.88 0.48 0.37 0.18 4.23 3.78 3.82 3.68
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 36 31 32 31 30 30 30 28
Total Preferred & Common Equity		 36 31 32 31 30 30 30 28
Total Common Equity		 36 31 32 31 30 30 30 28
Common Stock		 114 117 120 121 124 125 126 129
Retained Earnings		 -73 -81 -83 -85 -89 -90 -91 -96
Treasury Stock		 -5.36 -5.36 -5.36 -5.36 -5.36 -5.36 -5.36 -5.36
Accumulated Other Comprehensive Income / (Loss)		 - 0.00 -0.00 0.01 -0.00 0.00 -0.01 0.00

Annual Metrics And Ratios for Airgain

This table displays calculated financial ratios and metrics derived from Airgain's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 7,579,725.00 9,578,738.00 9,914,711.00 9,696,984.00 9,767,957.00 10,095,181.00 10,223,536.00 10,443,709.00 11,344,639.00 11,958,193.00
DEI Adjusted Shares Outstanding		 0.00 7,579,725.00 9,578,738.00 9,914,711.00 9,696,984.00 9,767,957.00 10,095,181.00 10,223,536.00 10,443,709.00 11,344,639.00 11,958,193.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.29 0.12 -0.26 0.10 -0.34 -1.00 -0.85 -1.19 -0.77 -0.54
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 8.95% 56.28% 14.01% 22.42% -8.06% -12.98% 32.52% 18.08% -26.16% 8.14% -14.55%
EBITDA Growth		 -93.95% 1,874.70% -54.23% -163.41% 238.49% -196.10% -364.11% 43.23% -77.88% 41.13% 9.01%
EBIT Growth		 -106.33% 1,802.75% -67.71% -293.68% 144.41% -376.03% -303.73% 29.34% -43.44% 28.35% 5.34%
NOPAT Growth		 -127.26% 1,588.02% -72.50% -350.18% 113.63% -789.77% -280.78% 29.23% -44.52% 28.00% 4.98%
Net Income Growth		 -107.53% 1,481.11% -69.44% -326.47% 135.84% -454.10% -207.62% 14.16% -43.53% 30.09% 26.04%
EPS Growth		 -50.35% 109.30% -72.50% -345.45% 133.33% -477.78% -197.06% 15.84% -41.18% 34.17% 31.65%
Operating Cash Flow Growth		 12.16% 152.55% -105.46% 640.00% 71.97% 56.42% -401.57% 139.80% -174.25% -6.85% 68.44%
Free Cash Flow Firm Growth		 0.00% 221.12% -316.62% 67.79% 45.98% 191.22% -2,436.48% 85.07% -0.56% -20.67% 14.81%
Invested Capital Growth		 0.00% -4.15% 333.69% 0.99% 14.65% -26.51% 209.98% -5.87% -15.72% -4.56% -6.80%
Revenue Q/Q Growth		 0.00% 0.00% 0.37% 6.60% -5.96% -0.40% 2.09% 8.19% -14.91% 9.02% -5.40%
EBITDA Q/Q Growth		 0.00% 0.00% -20.88% 33.41% -38.64% -132.12% -48.01% 20.12% -33.90% 40.66% -9.84%
EBIT Q/Q Growth		 0.00% 0.00% -30.66% 21.94% -52.57% -59.13% -39.14% 12.37% -21.40% 28.27% -5.49%
NOPAT Q/Q Growth		 0.00% 0.00% -39.79% 16.10% -78.20% -44.86% -38.77% 12.14% -21.70% 28.21% -5.47%
Net Income Q/Q Growth		 0.00% 0.00% -30.83% 20.91% -56.70% -53.44% -54.68% 14.14% -22.27% 28.84% -8.04%
EPS Q/Q Growth		 0.00% 0.00% -88.54% 25.00% -62.50% -47.83% -55.38% 15.84% -22.45% 31.30% -8.00%
Operating Cash Flow Q/Q Growth		 0.00% 22.04% -114.93% 373.96% -32.21% -25.47% -66.87% 305.26% -430.43% 35.14% 16.50%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 36.36% -1,837.56% -42.39% -15.01% 60.64% -4,871.03% 19.04% 8.30%
Invested Capital Q/Q Growth		 0.00% 0.00% 1.12% -6.88% -5.28% -5.12% 2.92% -14.93% -8.71% -4.29% -7.56%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 41.90% 44.38% 47.05% 43.73% 45.43% 46.57% 38.29% 36.86% 37.05% 40.93% 43.54%
EBITDA Margin		 0.87% 11.03% 4.43% -2.29% 3.45% -3.81% -13.36% -6.42% -15.47% -8.42% -8.97%
Operating Margin		 -1.19% 7.95% 1.96% -5.59% 0.68% -6.56% -18.86% -11.31% -22.13% -14.73% -16.38%
EBIT Margin		 -0.83% 9.03% 2.56% -4.04% 1.95% -6.20% -18.88% -11.30% -21.95% -14.54% -16.11%
Profit (Net Income) Margin		 -0.97% 8.60% 2.30% -4.26% 1.66% -6.76% -15.69% -11.41% -22.18% -14.34% -12.41%
Tax Burden Percent		 100.23% 99.78% 97.77% 104.07% 85.03% 109.08% 83.12% 100.98% 101.04% 98.28% 101.15%
Interest Burden Percent		 117.15% 95.45% 92.18% 101.26% 100.00% 100.00% 100.00% 100.00% 100.00% 100.31% 76.16%
Effective Tax Rate		 0.00% 0.22% 2.23% 0.00% 14.97% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -17.12% 130.04% 13.69% -20.97% 2.65% -19.73% -43.27% -20.86% -33.74% -27.18% -27.37%
ROIC Less NNEP Spread (ROIC-NNEP)		 -9.26% 128.70% 13.19% -20.35% 0.90% -16.86% -37.19% -0.77% 4.15% 2.58% -21.22%
Return on Net Nonoperating Assets (RNNOA)		 2.48% -114.71% -11.19% 15.32% -0.66% 12.88% 21.32% 0.24% -1.15% -0.68% 5.68%
Return on Equity (ROE)		 -14.64% 15.33% 2.50% -5.66% 1.99% -6.86% -21.95% -20.62% -34.89% -27.85% -21.69%
Cash Return on Invested Capital (CROIC)		 -217.12% 134.27% -111.36% -21.96% -11.00% 10.83% -145.70% -14.82% -16.68% -22.51% -20.33%
Operating Return on Assets (OROA)		 -1.51% 10.99% 2.25% -4.49% 2.02% -5.48% -20.01% -14.20% -25.46% -19.44% -17.79%
Return on Assets (ROA)		 -1.77% 10.47% 2.03% -4.73% 1.72% -5.98% -16.63% -14.34% -25.72% -19.16% -13.70%
Return on Common Equity (ROCE)		 179.81% -0.11% 2.50% -5.66% 1.99% -6.86% -21.95% -20.62% -34.89% -27.85% -21.69%
Return on Equity Simple (ROE_SIMPLE)		 0.69% 8.29% 2.47% -5.72% 1.93% -6.87% -22.84% -21.74% -39.56% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.23 3.44 0.95 -2.37 0.32 -2.23 -8.49 -6.01 -8.68 -6.25 -5.94
NOPAT Margin		 -0.83% 7.93% 1.91% -3.91% 0.58% -4.60% -13.20% -7.91% -15.49% -10.31% -11.47%
Net Nonoperating Expense Percent (NNEP)		 -7.86% 1.33% 0.50% -0.62% 1.76% -2.88% -6.07% -20.09% -37.89% -29.75% -6.15%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - -27.63% -20.18% -20.99%
Cost of Revenue to Revenue		 58.10% 55.62% 52.95% 56.27% 54.57% 53.43% 61.71% 63.14% 62.95% 59.07% 56.46%
SG&A Expenses to Revenue		 12.43% 10.43% 16.16% 15.74% 16.00% 21.59% 21.10% 18.49% 24.15% 20.90% 23.49%
R&D to Revenue		 15.32% 12.94% 14.78% 15.37% 16.13% 18.88% 16.99% 14.95% 18.75% 19.58% 18.43%
Operating Expenses to Revenue		 43.09% 36.43% 45.10% 49.31% 44.75% 53.13% 57.15% 48.16% 59.18% 55.71% 59.92%
Earnings before Interest and Taxes (EBIT)		 -0.23 3.92 1.27 -2.45 1.09 -3.01 -12 -8.58 -12 -8.81 -8.34
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 0.24 4.79 2.19 -1.39 1.93 -1.85 -8.59 -4.87 -8.67 -5.10 -4.64
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 2.42 1.86 2.18 2.16 3.64 2.43 1.67 1.18 2.59 1.72
Price to Tangible Book Value (P/TBV)		 0.00 2.68 2.30 2.66 2.57 4.25 5.62 3.74 3.01 5.59 3.31
Price to Revenue (P/Rev)		 0.00 2.51 1.74 1.62 1.86 3.58 1.67 0.88 0.66 1.32 0.94
Price to Earnings (P/E)		 0.00 49.69 75.47 0.00 111.94 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 2.01% 1.33% 0.00% 0.89% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 25.73 4.55 5.68 5.28 14.16 3.13 1.96 1.25 3.19 1.97
Enterprise Value to Revenue (EV/Rev)		 0.00 1.54 1.03 1.06 1.23 2.79 1.44 0.72 0.52 1.18 0.80
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 13.93 23.33 0.00 35.73 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 17.02 40.39 0.00 63.16 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 19.37 53.97 0.00 212.85 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 14.29 0.00 46.82 29.04 36.58 0.00 12.29 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 18.76 0.00 0.00 0.00 110.78 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.18 0.06 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.74 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.27 -0.89 -0.85 -0.75 -0.74 -0.76 -0.57 -0.31 -0.28 -0.26 -0.27
Leverage Ratio		 4.13 1.46 1.23 1.20 1.16 1.15 1.32 1.44 1.36 1.45 1.58
Compound Leverage Factor		 4.84 1.40 1.14 1.21 1.16 1.15 1.32 1.44 1.36 1.46 1.21
Debt to Total Capital		 54.06% 5.70% 2.80% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 20.21% 2.91% 2.80% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 33.85% 2.79% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 74.23% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 536.09% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -564.38% 94.30% 97.20% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 17.92 0.57 0.61 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 -4.08 -8.86 -15.96 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 11.22 0.28 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -18.78 0.79 1.41 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 4.27 -12.32 -36.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 -11.76 0.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 6.74 5.80 8.21 9.91 14.84 2.33 2.23 0.08 1.19 -0.31
Noncontrolling Interest Sharing Ratio		 1,328.49% 100.72% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.24 5.50 4.74 5.74 6.67 6.63 1.78 2.11 1.91 1.91 1.98
Quick Ratio		 1.20 5.45 4.60 5.43 6.29 6.27 1.27 1.60 1.53 1.49 1.55
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -2.94 3.56 -7.70 -2.48 -1.34 1.22 -29 -4.27 -4.29 -5.18 -4.41
Operating Cash Flow to CapEx		 1,391.62% 1,693.92% -96.96% 139.09% 195.06% 509.49% -1,517.66% 592.80% -954.05% -1,981.46% -670.48%
Free Cash Flow to Firm to Interest Expense		 -74.36 19.94 -77.83 -80.07 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 46.82 26.18 -2.58 44.42 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 43.45 24.63 -5.23 12.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.82 1.22 0.88 1.11 1.04 0.88 1.06 1.26 1.16 1.34 1.10
Accounts Receivable Turnover		 7.45 9.77 7.30 7.86 7.60 7.80 8.27 7.78 6.95 6.36 4.24
Inventory Turnover		 134.87 181.26 59.03 32.61 23.91 23.46 7.96 7.27 10.64 11.27 7.76
Fixed Asset Turnover		 27.07 47.37 53.71 49.74 31.61 21.54 25.33 27.79 21.26 26.93 28.07
Accounts Payable Turnover		 5.62 7.08 6.62 8.42 7.63 7.61 9.39 8.00 5.44 4.48 3.12
Days Sales Outstanding (DSO)		 49.01 37.34 50.02 46.45 48.03 46.80 44.12 46.89 52.48 57.36 86.16
Days Inventory Outstanding (DIO)		 2.71 2.01 6.18 11.19 15.26 15.56 45.85 50.17 34.29 32.40 47.02
Days Payable Outstanding (DPO)		 64.95 51.54 55.11 43.37 47.85 47.98 38.87 45.63 67.14 81.42 116.82
Cash Conversion Cycle (CCC)		 -13.23 -12.19 1.09 14.28 15.44 14.38 51.10 51.43 19.63 8.33 16.36
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2.71 2.59 11 11 13 9.57 30 28 24 22 21
Invested Capital Turnover		 20.55 16.40 7.16 5.36 4.57 4.29 3.28 2.64 2.18 2.64 2.39
Increase / (Decrease) in Invested Capital		 2.71 -0.11 8.65 0.11 1.66 -3.45 20 -1.74 -4.39 -1.07 -1.53
Enterprise Value (EV)		 0.00 67 51 64 69 136 93 55 29 72 41
Market Capitalization		 0.00 109 86 98 104 174 107 67 37 80 49
Book Value per Share		 ($69.65) $5.94 $4.83 $4.55 $4.94 $4.89 $4.38 $3.90 $3.01 $2.73 $2.37
Tangible Book Value per Share		 ($76.91) $5.37 $3.90 $3.73 $4.17 $4.18 $1.89 $1.74 $1.18 $1.26 $1.23
Total Capital		 8.04 48 48 45 48 48 44 40 31 31 28
Total Debt		 4.35 2.72 1.33 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 2.72 1.33 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -0.99 -42 -35 -34 -35 -38 -15 -12 -7.88 -8.51 -7.36
Capital Expenditures (CapEx)		 0.13 0.28 0.26 0.99 1.21 0.73 0.74 0.75 0.35 0.18 0.17
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1.91 -2.20 1.37 1.78 3.45 0.40 1.09 2.35 1.21 3.82 5.42
Debt-free Net Working Capital (DFNWC)		 3.43 43 38 36 38 39 16 14 9.09 12 13
Net Working Capital (NWC)		 1.80 42 36 36 38 39 16 14 9.09 12 13
Net Nonoperating Expense (NNE)		 0.04 -0.29 -0.19 0.21 -0.60 1.05 1.60 2.65 3.75 2.44 0.49
Net Nonoperating Obligations (NNO)		 -0.99 -42 -35 -34 -35 -38 -15 -12 -7.88 -8.51 -7.36
Total Depreciation and Amortization (D&A)		 0.47 0.87 0.93 1.06 0.84 1.16 3.55 3.70 3.63 3.71 3.70
Debt-free, Cash-free Net Working Capital to Revenue		 -6.87% -5.06% 2.77% 2.94% 6.19% 0.83% 1.70% 3.10% 2.16% 6.30% 10.46%
Debt-free Net Working Capital to Revenue		 12.33% 98.91% 76.10% 58.68% 68.77% 79.54% 24.27% 18.78% 16.22% 20.35% 24.67%
Net Working Capital to Revenue		 6.49% 95.72% 73.41% 58.68% 68.77% 79.54% 24.27% 18.78% 16.22% 20.35% 24.67%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($4.17) $0.65 $0.12 ($0.27) $0.10 ($0.34) ($1.01) ($0.85) ($1.20) ($0.79) ($0.54)
Adjusted Weighted Average Basic Shares Outstanding		 651.59K 3.37M 9.49M 9.52M 9.68M 9.71M 10.02M 10.19M 10.39M 11.05M 11.84M
Adjusted Diluted Earnings per Share		 ($4.30) $0.40 $0.11 ($0.27) $0.09 ($0.34) ($1.01) ($0.85) ($1.20) ($0.79) ($0.54)
Adjusted Weighted Average Diluted Shares Outstanding		 651.59K 4.67M 10.36M 9.52M 10.10M 9.71M 10.02M 10.19M 10.39M 11.05M 11.84M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 700K 9.37M 9.64M 10.03M 9.69M 10.35M 10.19M 10.26M 10.50M 11.56M 12.22M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.23 3.44 0.95 -2.37 0.32 -2.23 -7.06 -6.01 -8.68 -6.25 -5.94
Normalized NOPAT Margin		 -0.83% 7.93% 1.91% -3.91% 0.58% -4.60% -10.98% -7.91% -15.49% -10.31% -11.47%
Pre Tax Income Margin		 -0.97% 8.62% 2.36% -4.10% 1.95% -6.20% -18.88% -11.30% -21.95% -14.59% -12.27%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -5.83 21.98 12.79 -79.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 -5.86 19.31 9.57 -76.46 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 -9.19 20.43 10.13 -111.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -9.23 17.77 6.91 -108.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 110.17% -84.13% 132.51% -18.54% -0.96% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Airgain

This table displays calculated financial ratios and metrics derived from Airgain's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 10,423,964.00 10,443,709.00 10,504,597.00 10,777,426.00 11,301,507.00 11,344,639.00 11,558,901.00 11,794,084.00 11,903,285.00 11,958,193.00 12,223,892.00
DEI Adjusted Shares Outstanding		 10,423,964.00 10,443,709.00 10,504,597.00 10,777,426.00 11,301,507.00 11,344,639.00 11,558,901.00 11,794,084.00 11,903,285.00 11,958,193.00 12,223,892.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.18 -0.53 -0.23 -0.23 -0.16 -0.17 -0.13 -0.13 -0.08 -0.20 -0.16
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -28.66% -49.37% -13.46% -4.08% 17.56% 49.78% -15.59% -10.28% -12.94% -19.61% -4.18%
EBITDA Growth		 -199.39% -94.17% 15.81% -23.23% 7.58% 77.26% -33.06% 34.50% 96.78% -43.05% 27.13%
EBIT Growth		 -50.44% -66.48% 6.39% -11.47% 4.85% 63.99% -16.22% 21.07% 46.55% -23.58% 38.89%
NOPAT Growth		 -51.11% -67.47% 5.77% -13.25% 5.03% 63.92% -17.76% 20.16% 46.69% -22.22% 31.75%
Net Income Growth		 -44.80% -70.31% 14.10% -13.97% 6.59% 64.21% 37.03% 41.31% 45.13% -24.35% -22.70%
EPS Growth		 -38.46% -70.97% 17.86% -9.52% 11.11% 67.92% 43.48% 47.83% 50.00% -23.53% -15.38%
Operating Cash Flow Growth		 521.36% -181.97% 21.97% -111.05% -284.22% 98.66% 8.40% 110.72% 65.14% 846.15% 25.95%
Free Cash Flow Firm Growth		 216.82% 199.01% 152.46% -16.30% -81.76% -157.08% -153.35% -111.59% -86.16% 46.96% 131.91%
Invested Capital Growth		 -21.47% -15.72% -17.98% -16.67% -8.97% -4.56% -1.79% -4.60% -3.50% -6.80% -8.89%
Revenue Q/Q Growth		 -13.48% -26.47% 41.32% 6.70% 6.04% -6.32% -20.35% 13.40% 2.90% -13.50% -5.06%
EBITDA Q/Q Growth		 24.69% -363.73% 65.18% -1.33% 43.52% -14.08% -103.79% 50.12% 97.23% -4,975.86% -3.80%
EBIT Q/Q Growth		 15.61% -189.39% 52.20% 4.51% 27.97% -9.52% -54.27% 35.15% 51.23% -153.25% 23.72%
NOPAT Q/Q Growth		 13.65% -187.33% 52.10% 4.72% 27.58% -9.15% -56.36% 35.40% 51.65% -150.26% 12.69%
Net Income Q/Q Growth		 14.69% -191.55% 55.23% -2.36% 30.08% -11.72% 21.24% 4.59% 34.64% -153.22% 22.29%
EPS Q/Q Growth		 14.29% -194.44% 56.60% 0.00% 30.43% -6.25% 23.53% 7.69% 33.33% -162.50% 28.57%
Operating Cash Flow Q/Q Growth		 212.28% -402.66% 42.23% -7.51% 2.00% 97.79% -3,842.31% 112.59% -418.60% 147.20% -491.24%
Free Cash Flow Firm Q/Q Growth		 65.83% -90.39% 497.50% -12.06% -63.87% -130.06% -458.53% 80.89% 143.14% -215.20% 436.08%
Invested Capital Q/Q Growth		 -7.31% -8.71% -0.80% -0.73% 1.26% -4.29% 2.07% -3.56% 2.42% -7.56% -0.21%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 38.23% 29.10% 39.18% 40.49% 41.70% 42.19% 42.95% 42.86% 43.59% 44.82% 43.20%
EBITDA Margin		 -7.13% -44.95% -11.07% -10.52% -5.60% -6.82% -17.46% -7.68% -0.21% -12.14% -13.27%
Operating Margin		 -13.95% -54.50% -18.47% -16.50% -11.27% -13.13% -25.77% -14.68% -6.90% -19.96% -18.36%
EBIT Margin		 -13.70% -53.91% -18.23% -16.32% -11.09% -12.96% -25.11% -14.36% -6.81% -19.93% -16.01%
Profit (Net Income) Margin		 -13.73% -54.46% -17.25% -16.55% -10.91% -13.01% -12.87% -10.83% -6.88% -20.13% -16.48%
Tax Burden Percent		 100.21% 100.81% 94.61% 101.37% 97.83% 99.64% 101.58% 100.96% 101.05% 101.03% 103.95%
Interest Burden Percent		 100.05% 100.20% 100.00% 100.04% 100.62% 100.77% 50.46% 74.69% 100.00% 100.00% 99.02%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -21.94% -83.10% -26.87% -24.09% -17.81% -24.22% -45.53% -25.79% -11.46% -33.34% -30.08%
ROIC Less NNEP Spread (ROIC-NNEP)		 -16.27% -66.49% -19.64% -15.50% -12.18% -17.18% -54.05% -24.86% -7.49% -23.93% -24.32%
Return on Net Nonoperating Assets (RNNOA)		 4.01% 18.47% 4.86% 3.99% 3.17% 4.51% 12.94% 6.52% 1.79% 6.41% 6.06%
Return on Equity (ROE)		 -17.93% -64.63% -22.02% -20.10% -14.63% -19.70% -32.58% -19.27% -9.68% -26.94% -24.02%
Cash Return on Invested Capital (CROIC)		 -0.29% -16.68% -13.32% -16.23% -25.97% -22.51% -26.62% -22.78% -20.86% -20.33% -14.67%
Operating Return on Assets (OROA)		 -17.25% -62.53% -21.06% -18.88% -13.76% -17.33% -32.97% -18.55% -8.39% -22.00% -18.34%
Return on Assets (ROA)		 -17.30% -63.17% -19.92% -19.14% -13.55% -17.40% -16.90% -13.99% -8.48% -22.23% -18.88%
Return on Common Equity (ROCE)		 -17.93% -64.63% -22.02% -20.10% -14.63% -19.70% -32.58% -19.27% -9.68% -26.94% -24.02%
Return on Equity Simple (ROE_SIMPLE)		 -28.42% 0.00% -39.41% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.34 -3.84 -1.84 -1.75 -1.27 -1.39 -2.17 -1.40 -0.68 -1.69 -1.48
NOPAT Margin		 -9.76% -38.15% -12.93% -11.55% -7.89% -9.19% -18.04% -10.28% -4.83% -13.97% -12.85%
Net Nonoperating Expense Percent (NNEP)		 -5.67% -16.60% -7.23% -8.59% -5.62% -7.04% 8.53% -0.93% -3.98% -9.42% -5.75%
Return On Investment Capital (ROIC_SIMPLE)		 - -12.23% -6.03% -5.55% -4.12% -4.48% -7.15% -4.70% -2.28% -5.99% -5.28%
Cost of Revenue to Revenue		 61.77% 70.90% 60.82% 59.51% 58.30% 57.81% 57.05% 57.14% 56.41% 55.18% 56.80%
SG&A Expenses to Revenue		 22.96% 29.78% 20.57% 21.00% 20.36% 21.68% 27.42% 21.05% 19.92% 26.45% 21.78%
R&D to Revenue		 16.78% 31.46% 21.92% 20.52% 17.73% 18.38% 20.79% 18.74% 15.27% 19.38% 19.54%
Operating Expenses to Revenue		 52.18% 83.55% 57.66% 56.99% 53.03% 55.42% 68.73% 57.54% 50.49% 64.78% 61.56%
Earnings before Interest and Taxes (EBIT)		 -1.88 -5.43 -2.60 -2.48 -1.79 -1.96 -3.02 -1.96 -0.95 -2.42 -1.84
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.98 -4.53 -1.58 -1.60 -0.90 -1.03 -2.10 -1.05 -0.03 -1.47 -1.53
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.07 1.18 1.88 2.06 2.77 2.59 1.28 1.66 1.74 1.72 2.40
Price to Tangible Book Value (P/TBV)		 2.40 3.01 4.70 4.65 6.11 5.59 2.69 3.35 3.38 3.31 4.74
Price to Revenue (P/Rev)		 0.58 0.66 1.06 1.22 1.53 1.32 0.67 0.87 0.94 0.94 1.31
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.10 1.25 2.15 2.45 3.32 3.19 1.38 1.88 1.97 1.97 2.88
Enterprise Value to Revenue (EV/Rev)		 0.43 0.52 0.93 1.07 1.40 1.18 0.54 0.73 0.81 0.80 1.17
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 28.30 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.25 -0.28 -0.25 -0.26 -0.26 -0.26 -0.24 -0.26 -0.24 -0.27 -0.25
Leverage Ratio		 1.34 1.36 1.35 1.34 1.35 1.45 1.46 1.43 1.47 1.58 1.53
Compound Leverage Factor		 1.35 1.36 1.35 1.34 1.35 1.46 0.74 1.07 1.47 1.58 1.52
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 1.59 0.62 1.46 2.22 2.81 1.65 0.16 0.55 0.64 0.12 0.92
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.34 1.91 1.79 2.07 1.92 1.91 2.11 2.08 2.13 1.98 2.07
Quick Ratio		 1.71 1.53 1.44 1.66 1.58 1.49 1.65 1.65 1.69 1.55 1.60
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 5.71 0.55 3.28 2.88 1.04 -0.31 -1.75 -0.33 0.14 -0.17 0.56
Operating Cash Flow to CapEx		 941.18% -1,113.22% -1,865.00% -1,336.67% -4,366.67% -2,600.00% -2,440.48% 806.25% -5,871.43% 192.08% -1,380.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.26 1.16 1.15 1.16 1.24 1.34 1.31 1.29 1.23 1.10 1.15
Accounts Receivable Turnover		 8.38 6.95 6.05 6.16 6.15 6.36 5.56 5.55 4.43 4.24 4.53
Inventory Turnover		 6.34 10.64 9.56 8.38 10.42 11.27 10.72 9.55 9.96 7.76 7.40
Fixed Asset Turnover		 24.99 21.26 21.58 22.33 24.26 26.93 27.68 28.25 28.49 28.07 29.26
Accounts Payable Turnover		 6.36 5.44 4.86 5.79 5.32 4.48 4.52 5.07 4.07 3.12 3.87
Days Sales Outstanding (DSO)		 43.57 52.48 60.32 59.26 59.33 57.36 65.69 65.74 82.30 86.16 80.59
Days Inventory Outstanding (DIO)		 57.57 34.29 38.16 43.53 35.03 32.40 34.05 38.24 36.65 47.02 49.36
Days Payable Outstanding (DPO)		 57.38 67.14 75.04 63.06 68.60 81.42 80.67 71.93 89.76 116.82 94.29
Cash Conversion Cycle (CCC)		 43.76 19.63 23.45 39.73 25.76 8.33 19.08 32.05 29.19 16.36 35.66
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 26 24 23 23 23 22 23 22 23 21 21
Invested Capital Turnover		 2.25 2.18 2.08 2.09 2.26 2.64 2.52 2.51 2.37 2.39 2.34
Increase / (Decrease) in Invested Capital		 -7.05 -4.39 -5.12 -4.64 -2.31 -1.07 -0.42 -1.07 -0.82 -1.53 -2.04
Enterprise Value (EV)		 28 29 50 57 78 72 32 42 45 41 60
Market Capitalization		 38 37 57 65 85 80 39 49 52 49 67
Book Value per Share		 $3.43 $3.01 $2.90 $2.93 $2.73 $2.73 $2.62 $2.53 $2.50 $2.37 $2.29
Tangible Book Value per Share		 $1.53 $1.18 $1.16 $1.30 $1.24 $1.26 $1.25 $1.25 $1.28 $1.23 $1.16
Total Capital		 36 31 31 32 31 31 30 30 30 28 28
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -9.99 -7.88 -7.17 -8.42 -7.35 -8.51 -7.40 -7.68 -7.09 -7.36 -7.13
Capital Expenditures (CapEx)		 0.07 0.17 0.06 0.09 0.03 0.00 0.04 0.02 0.01 0.10 0.06
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 2.75 1.21 2.00 2.59 3.82 3.82 5.23 5.09 6.32 5.42 5.21
Debt-free Net Working Capital (DFNWC)		 13 9.09 9.17 11 11 12 13 13 13 13 12
Net Working Capital (NWC)		 13 9.09 9.17 11 11 12 13 13 13 13 12
Net Nonoperating Expense (NNE)		 0.54 1.64 0.61 0.76 0.49 0.58 -0.62 0.08 0.29 0.75 0.42
Net Nonoperating Obligations (NNO)		 -9.99 -7.88 -7.17 -8.42 -7.35 -8.51 -7.40 -7.68 -7.09 -7.36 -7.13
Total Depreciation and Amortization (D&A)		 0.90 0.90 1.02 0.88 0.88 0.93 0.92 0.91 0.93 0.94 0.32
Debt-free, Cash-free Net Working Capital to Revenue		 4.17% 2.16% 3.72% 4.87% 6.87% 6.30% 8.96% 8.95% 11.55% 10.46% 10.16%
Debt-free Net Working Capital to Revenue		 19.34% 16.22% 17.03% 20.69% 20.09% 20.35% 21.64% 22.47% 24.51% 24.67% 24.06%
Net Working Capital to Revenue		 19.34% 16.22% 17.03% 20.69% 20.09% 20.35% 21.64% 22.47% 24.51% 24.67% 24.06%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.18) ($0.53) ($0.23) ($0.23) ($0.16) ($0.17) ($0.13) ($0.12) ($0.08) ($0.21) ($0.15)
Adjusted Weighted Average Basic Shares Outstanding		 10.43M 10.39M 10.53M 10.94M 11.32M 11.05M 11.58M 11.84M 11.79M 11.84M 12.31M
Adjusted Diluted Earnings per Share		 ($0.18) ($0.53) ($0.23) ($0.23) ($0.16) ($0.17) ($0.13) ($0.12) ($0.08) ($0.21) ($0.15)
Adjusted Weighted Average Diluted Shares Outstanding		 10.43M 10.39M 10.53M 10.94M 11.32M 11.05M 11.58M 11.84M 11.79M 11.84M 12.31M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 10.44M 10.50M 10.78M 11.30M 11.34M 11.56M 11.79M 11.90M 11.96M 12.22M 12.68M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.34 -3.84 -1.84 -1.75 -1.27 -1.39 -2.17 -1.40 -0.68 -1.69 -1.48
Normalized NOPAT Margin		 -9.76% -38.15% -12.93% -11.55% -7.89% -9.19% -18.04% -10.28% -4.83% -13.97% -12.85%
Pre Tax Income Margin		 -13.70% -54.02% -18.23% -16.33% -11.15% -13.06% -12.67% -10.72% -6.81% -19.93% -15.85%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Airgain’s latest quarter shows some operational progress, but the company is still losing money and burning cash. In Q1 2026, revenue fell year over year, operating losses continued, and free cash flow remained negative. At the same time, Airgain ended the quarter with a fairly solid cash position and modest debt-like liabilities, which gives it some runway.

  • Cash & equivalents rose to $7.1 million at March 31, 2026, and total current assets were $23.8 million.
  • The company still has a manageable balance sheet, with $15.4 million in total liabilities versus $28.0 million in common equity.
  • Q1 2026 operating cash flow improved to negative $759,000 from negative $1.0 million in Q1 2025, showing better cash discipline.
  • Net loss improved year over year to $1.9 million from $2.4 million in Q1 2025.
  • Gross profit margin remained healthy at about 43.2% in Q1 2026, supported by $5.0 million in gross profit on $11.5 million of revenue.
  • Interest and investment income helped offset losses in some recent quarters, including $539,000 of total other income in Q2 2025 and $270,000 in Q1 2026.
  • Shares outstanding have trended higher over the last year, with Q1 2026 basic weighted shares at 12.3 million versus 10.6 million in Q1 2024.
  • Q1 2026 revenue declined to $11.5 million, down from $12.0 million in Q1 2025 and $12.1 million in Q4 2025.
  • Airgain posted an operating loss of $2.1 million in Q1 2026, continuing a multi-quarter pattern of losses.
  • The company used cash in operations and investing in Q1 2026, with a net cash outflow of $176,000 after financing inflows.

Trends over the last several quarters point to a business that has stabilized somewhat, but has not yet returned to consistent growth or profitability. Revenue peaked around the middle of 2024 and then moved lower through 2025 into Q1 2026. For example, quarterly revenue was $16.1 million in Q3 2024, $15.1 million in Q4 2024, and $11.5 million in Q1 2026. That downtrend is important for investors because it suggests demand has softened or the company is losing momentum in some end markets.

Profitability is still the main issue. Airgain has not posted positive net income in the period provided, and operating expenses continue to exceed gross profit. The good news is that losses have generally narrowed from the deeper red seen in 2023 and early 2024, but the company is still not close to breakeven. In Q1 2026, SG&A, marketing, and R&D combined were still substantial at more than $7.0 million, leaving the company with an operating loss.

Cash flow also remains a concern, though there are signs of improvement. Operating cash flow was negative in Q1 2026, but it was better than the prior-year quarter. The balance sheet still looks serviceable, with current assets comfortably above current liabilities, but continued losses and cash usage mean investors should watch liquidity closely. If revenue does not recover, the company may need to rely on cost cuts, financing, or equity issuance to support operations.

Bottom line: Airgain appears financially stable enough for now, but the stock likely depends on management’s ability to reaccelerate revenue and move toward profitability. The near-term picture is mixed: better than the worst quarters of 2023, but still not showing a convincing turnaround.

07/20/26 03:07 PM ETAI Generated. May Contain Errors.

Airgain Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Airgain's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Airgain's net income appears to be on an upward trend, with a most recent value of -$6.43 million in 2025, rising from -$270.34 thousand in 2015. The previous period was -$8.69 million in 2024. See Airgain's forecast for analyst expectations on what's next for the company.

Airgain's total operating income in 2025 was -$8.48 million, based on the following breakdown:
  • Total Gross Profit: $22.55 million
  • Total Operating Expenses: $31.03 million

Over the last 10 years, Airgain's total revenue changed from $27.79 million in 2015 to $51.78 million in 2025, a change of 86.3%.

Airgain's total liabilities were at $17.05 million at the end of 2025, a 2.4% decrease from 2024, and a 47.4% increase since 2015.

In the past 10 years, Airgain's cash and equivalents has ranged from $5.34 million in 2015 to $45.16 million in 2016, and is currently $7.36 million as of their latest financial filing in 2025.

Over the last 10 years, Airgain's book value per share changed from -69.65 in 2015 to 2.37 in 2025, a change of -103.4%.


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Financial statements for NASDAQ:AIRG last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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