AIRG · Airgain Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.51M | - | $14.02M | $13.62M | $12.01M | - | $16.10M | $15.18M | $14.23M | - |
| Cost of Revenue | $6.54M | - | $7.91M | $7.78M | $6.85M | - | $9.39M | $9.04M | $8.65M | - |
| Gross Profit | $4.97M | - | $6.11M | $5.84M | $5.16M | - | $6.71M | $6.15M | $5.58M | - |
| R&D | $2.25M | - | $2.14M | $2.55M | $2.50M | - | $2.85M | $3.12M | $3.12M | - |
| SG&A | $2.51M | - | $2.79M | $2.87M | $3.29M | - | $3.28M | $3.19M | $2.93M | - |
| Total Operating Expenses | $7.09M | - | $7.08M | $7.84M | $8.26M | - | $8.53M | $8.65M | $8.21M | - |
| D&A | $99.0K | - | $100.0K | $100.0K | $123.0K | - | $100.0K | $100.0K | $145.0K | - |
| Operating Income | ($2.11M) | - | ($967.0K) | ($2.00M) | ($3.10M) | - | ($1.81M) | ($2.50M) | ($2.63M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $72.0K | - | $10.0K | $14.0K | $24.0K | - | ($39.0K) | $34.0K | ($140.0K) | - |
| Net Income | ($1.90M) | - | ($964.0K) | ($1.48M) | ($1.55M) | - | ($1.76M) | ($2.51M) | ($2.46M) | - |
| EPS - Basic | ($0.15) | - | ($0.08) | ($0.12) | ($0.13) | - | ($0.16) | ($0.23) | ($0.23) | - |
| EPS - Diluted | ($0.15) | - | ($0.08) | ($0.12) | ($0.13) | - | ($0.16) | ($0.23) | ($0.23) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $7.13M | $7.36M | $7.09M | $7.68M | $7.40M | $8.51M | $7.35M | $8.42M | $7.17M | $7.88M |
| Accounts Receivable | $11.27M | $12.78M | $12.88M | $11.83M | $11.37M | $11.67M | $11.80M | $8.64M | $9.64M | $7.38M |
| Inventory | $4.07M | $3.58M | $3.66M | $3.72M | $3.75M | $3.95M | $2.62M | $3.14M | $2.59M | $2.40M |
| Accounts Payable | $7.07M | $9.21M | $7.94M | $7.06M | $7.87M | $9.50M | $7.44M | $5.84M | $7.16M | $6.47M |
| Current Assets | $23.84M | $25.76M | $25.24M | $24.55M | $24.03M | $25.83M | $23.27M | $21.31M | $20.82M | $19.08M |
| Total Assets | $43.39M | $45.34M | $45.54M | $45.52M | $46.12M | $48.44M | $43.25M | $42.44M | $42.80M | $42.23M |
| Current Liabilities | $11.51M | $12.98M | $11.83M | $11.79M | $11.39M | $13.50M | $12.10M | $10.31M | $11.65M | $9.99M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $15.38M | $17.05M | $15.81M | $15.73M | $15.79M | $17.47M | $12.44M | $10.85M | $12.29M | $10.82M |
| Stockholders' Equity | $28.02M | $28.29M | $29.73M | $29.79M | $30.33M | $30.97M | $30.81M | $31.59M | $30.51M | $31.41M |
| Retained Earnings | ($95.53M) | ($93.64M) | ($91.19M) | ($90.23M) | ($88.75M) | ($87.21M) | ($85.25M) | ($83.49M) | ($80.98M) | ($78.52M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($759.0K) | - | - | - | ($1.02M) | - | - | - | ($1.12M) | - |
| Investing Cash Flow | ($143.0K) | - | - | - | ($42.0K) | - | - | - | ($60.0K) | - |
| Financing Cash Flow | $722.0K | - | - | - | ($43.0K) | - | - | - | $469.0K | - |
| CapEx | $55.0K | - | - | - | $42.0K | - | - | - | $60.0K | - |
| Free Cash Flow | ($814.0K) | - | - | - | ($1.07M) | - | - | - | ($1.18M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 43.2% | - | 43.6% | 42.9% | 43.0% | - | 41.7% | 40.5% | 39.2% | - |
| Operating margin | -18.4% | - | -6.9% | -14.7% | -25.8% | - | -11.3% | -16.5% | -18.5% | - |
| EBITDA margin | -17.5% | - | -6.2% | -13.9% | -24.7% | - | -10.6% | -15.8% | -17.5% | - |
| Net margin | -16.5% | - | -6.9% | -10.8% | -12.9% | - | -10.9% | -16.6% | -17.3% | - |
| Free cash flow margin | -7.1% | - | - | - | -8.9% | - | - | - | -8.3% | - |
| FCF / Net income | 0.43 | - | - | - | 0.69 | - | - | - | 0.48 | - |
| R&D / Revenue | 19.5% | - | 15.3% | 18.7% | 20.8% | - | 17.7% | 20.5% | 21.9% | - |
| SG&A / Revenue | 21.8% | - | 19.9% | 21.0% | 27.4% | - | 20.4% | 21.0% | 20.6% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -4.4% | - | -2.1% | -3.2% | -3.4% | - | -4.1% | -5.9% | -5.7% | - |
| Return on equity | -6.8% | - | -3.2% | -5.0% | -5.1% | - | -5.7% | -8.0% | -8.0% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.07 | 1.98 | 2.13 | 2.08 | 2.11 | 1.91 | 1.92 | 2.07 | 1.79 | 1.91 |
| Quick ratio | 1.72 | 1.71 | 1.82 | 1.77 | 1.78 | 1.62 | 1.71 | 1.76 | 1.56 | 1.67 |
| Cash ratio | 0.62 | 0.57 | 0.60 | 0.65 | 0.65 | 0.63 | 0.61 | 0.82 | 0.62 | 0.79 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.55 | 1.60 | 1.53 | 1.53 | 1.52 | 1.56 | 1.40 | 1.34 | 1.40 | 1.34 |
| Liabilities / Assets | 0.35 | 0.38 | 0.35 | 0.35 | 0.34 | 0.36 | 0.29 | 0.26 | 0.29 | 0.26 |
| Efficiency | ||||||||||
| Asset turnover | 0.27 | - | 0.31 | 0.30 | 0.26 | - | 0.37 | 0.36 | 0.33 | - |
| Inventory turnover | 1.61 | - | 2.16 | 2.09 | 1.83 | - | 3.59 | 2.87 | 3.34 | - |
| Days sales outstanding | 357d | - | 335d | 317d | 345d | - | 267d | 208d | 247d | - |
| Days inventory outstanding | 227d | - | 169d | 174d | 200d | - | 102d | 127d | 109d | - |
| Days payable outstanding | 395d | - | 366d | 331d | 419d | - | 289d | 236d | 302d | - |
| Cash conversion cycle | 190d | - | 138d | 160d | 126d | - | 80d | 99d | 55d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 2.4x | - | 1.7x | 1.7x | 1.3x | - | 2.8x | 2.1x | 1.9x | - |
| P / S | 5.9x | - | 3.7x | 3.6x | 3.2x | - | 5.3x | 4.4x | 4.0x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -4.2% | - | -12.9% | -10.3% | -15.6% | - | 17.6% | -4.1% | -13.5% | - |
| Revenue CAGR (3y) | -11.2% | - | -10.0% | -10.9% | -11.8% | - | 1.4% | -4.3% | -6.4% | - |
| Revenue CAGR (5y) | -7.9% | - | 1.5% | 3.5% | 1.4% | - | 4.1% | 1.0% | -1.2% | - |
| Gross profit growth (YoY) | -3.6% | - | -9.0% | -5.0% | -7.5% | - | 28.2% | -2.1% | -11.7% | - |
| Operating income growth (YoY) | 31.8% | - | 46.7% | 20.2% | -17.8% | - | 5.0% | -13.2% | 5.8% | - |
| Net income growth (YoY) | -22.7% | - | 45.1% | 41.3% | 37.0% | - | 6.6% | -14.0% | 14.1% | - |
| EPS growth (YoY) | -15.4% | - | 50.0% | 47.8% | 43.5% | - | 11.1% | -9.5% | 17.9% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 23.7% | - | - | - | 9.5% | - | - | - | 22.6% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -7.6% | -8.7% | -3.5% | -5.7% | -0.6% | -1.4% | -13.9% | -14.8% | -20.3% | -21.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Geographic
$75.68M totalChina Including Hong Kong And Taiwan$26.88M · 35.5%
North America$23.94M · 31.6%
US$23.90M · 31.6%
Other Countries$957.0K · 1.3%
Peer comparison
Same SIC group: Radio & Tv Broadcasting & Communications Equipment
Comparing AIRGAIN INC against the 5 most active filers in the same SIC group.