AIRGAIN INC AIRG

Technology SIC 3663 - Radio & Tv Broadcasting & Communications Equipment NAICS Manufacturing › Computer and Electronic Product Manufacturing › Communications Equipment Manufacturing › Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing derived Nasdaq

Headquartered in San Diego, California, Airgain, Inc. (NASDAQ: AIRG) is a leading provider of advanced wireless connectivity solutions. We are focused on delivering high-performance, cost-effective, and energy-efficient wireless solutions that enable rapid market deployment. Our mission is to connect the world through integrated, innovative, and optimized wireless solutions. Our diverse product portfolio serves three primary markets: enterprise, automotive, and consumer. While historically recognized for high-performance radio frequency (RF) components, Airgain is increasingly delivering integrated, system-level connectivity solutions that combine hardware, software and cloud management.

Our enterprise products include Smart Network Controlled Cellular Repeaters (Smart NCRs), embedded cellular modems, asset tracking solutions, and antennas for access points and Internet of Things (IoT) applications. Our automotive products include our second-generation AirgainConnect® Fleet system solution, a low-profile, roof-mounted, all-in-one 5G vehicle gateway and our aftermarket antennas. Our consumer products include embedded antennas for consumer access points, wireless gateways, and fixed wireless access (FWA) devices.

Last close 4.05 2026-10-23
Market cap $53.1M 2026-06-30 share count
52-week range 3.00 - 7.66

Valuation FY2025 figures against the last close

P/S1.0x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.54

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • China including Hong Kong and Taiwan
  • North America
  • Rest of the world
Revenue by geography, 3 categories over 2 years. The same figures are in the table below. FY2025 China including Hong Kong and Taiwan, FY2025: 26.9M (51.9%) 52% China including Hong Kong and Taiwan North America, FY2025: 23.9M (46.2%) 46% North America Rest of the world, FY2025: 957K (1.8%) FY2024 China including Hong Kong and Taiwan, FY2024: 22.4M (36.9%) 37% North America, FY2024: 35.9M (59.2%) 59% Rest of the world, FY2024: 2.3M (3.9%) 4%
Region FY2025FY2024
China including Hong Kong and Taiwan $26.9M $22.4M
North America $23.9M $35.9M
Rest of the world $957.0K $2.3M

As the company reported it, from the “Revenues - Summary of Disaggregated Revenues By Geography (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $51.8M$60.6M$56.0M$75.9M$64.3M$48.5M$55.7M$60.6M$49.5M$43.4M
Cost of revenue $29.2M$35.8M$35.3M$47.9M$39.7M$25.9M$30.4M$34.1M$26.2M$24.2M
Gross profit $22.5M$24.8M$20.8M$28.0M$24.6M$22.6M$25.3M$26.5M$23.3M$19.3M
R&D $9.5M$11.9M$10.5M$11.3M$10.9M$9.2M$9.0M$9.3M$7.3M$5.6M
SG&A $12.2M$12.7M$13.5M$14.0M$13.6M$10.5M$8.9M$9.5M$8.0M$4.5M
Total operating expenses $31.0M$33.7M$33.2M$36.6M$36.7M$25.8M$24.9M$29.9M$22.3M$15.8M
Operating income -$8.5M-$8.9M-$12.4M-$8.6M-$12.1M-$3.2M$380.0K-$3.4M$969.0K$3.5M
Interest expense ——————$5.0K$31.0K$99.0K$178.4K
Pre-tax income -$6.4M-$8.8M-$12.3M-$8.6M-$12.1M-$3.0M$1.1M-$2.5M$1.2M$3.7M
Income tax $73.0K$152.0K$128.0K$84.0K$2.0M$273.0K$163.0K$101.0K$26.0K$8.2K
Net income -$6.4M-$8.7M-$12.4M-$8.7M-$10.1M-$3.3M$926.0K-$2.6M$1.1M$3.7M
EPS, basic -0.54-0.79-1.20-0.85-1.01-0.340.10-0.270.120.65
EPS, diluted -0.54-0.79-1.20-0.85-1.01-0.340.09-0.270.110.40
Shares, diluted (wtd. avg.) 11.8M11.1M10.4M10.2M10.0M9.7M10.1M9.5M10.4M4.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $7.4M$8.5M$7.9M$11.9M$14.5M$38.2M$13.2M$13.6M$15.0M$45.2M
Short-term investments —————$0$0$20.2M$21.3M—
Receivables $12.8M$11.7M$7.4M$8.7M$10.8M$4.8M$7.7M$7.0M$8.4M$5.2M
Inventory $3.6M$4.0M$2.4M$4.2M$8.9M$1.0M$1.2M$1.4M$741.6K$146.8K
Total current assets $25.8M$25.8M$19.1M$27.2M$35.5M$45.4M$45.1M$43.1M$46.1M$50.8M
Property, plant and equipment $1.7M$2.0M$2.5M$2.8M$2.7M$2.4M$2.1M$1.4M$1.0M$807.1K
Goodwill $10.8M$10.8M$10.8M$10.8M$10.8M$3.7M$3.7M$3.7M$3.7M$1.2M
Other intangibles $2.8M$5.8M$8.2M$11.2M$14.2M$3.2M$687.0K$859.0K$1.1M$286.7K
Total assets $45.3M$48.4M$42.2M$54.4M$66.4M$54.9M$54.7M$52.9M$56.3M$56.1M
Accounts payable $9.2M$9.5M$6.5M$6.5M$5.5M$3.0M$3.8M$4.1M$4.0M$3.9M
Total current liabilities $13.0M$13.5M$10.0M$12.9M$19.9M$6.9M$6.8M$7.5M$9.7M$9.2M
Total liabilities $17.0M$17.5M$10.8M$14.6M$22.2M$7.2M$6.8M$7.8M$10.1M$11.0M
Retained earnings -$93.6M-$87.2M-$78.5M-$66.1M-$57.4M-$47.3M-$44.1M-$45.0M-$42.4M-$43.6M
Total equity $28.3M$31.0M$31.4M$39.8M$44.2M$47.7M$47.9M$45.1M$46.2M$45.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$1.1M-$3.5M-$3.3M$4.4M-$11.2M$3.7M$2.4M$1.4M-$255.0K$4.7M
Depreciation and amortisation $463.0K$548.0K$661.0K$675.0K$546.0K$463.0K$493.0K$587.0K$436.0K$495.3K
Stock-based compensation $3.0M$4.6M$3.7M$5.0M$4.0M$2.6M$2.2M$2.9M$736.0K$298.5K
Capital expenditure $166.0K$178.0K$346.0K$763.0K$736.0K$727.0K$1.2M$990.0K$263.0K$275.6K
Investing cash flow -$389.0K-$178.0K-$346.0K-$750.0K-$14.9M$20.9M-$2.4M$336.0K-$27.8M-$275.6K
Financing cash flow $350.0K$4.3M-$458.0K-$6.3M$2.4M$561.0K-$392.0K-$3.1M-$2.1M$35.4M
Buybacks ———$0$97.0K$608.0K$1.2M$2.2M$1.3M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-197736.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -25M 0 25M 50M 75M 100M Revenue, FY2016: 43.4M Gross profit, FY2016: 19.3M Net income, FY2016: 3.7M Revenue, FY2017: 49.5M Gross profit, FY2017: 23.3M Net income, FY2017: 1.1M Revenue, FY2018: 60.6M Gross profit, FY2018: 26.5M Net income, FY2018: -2.6M Revenue, FY2019: 55.7M Gross profit, FY2019: 25.3M Net income, FY2019: 926K Revenue, FY2020: 48.5M Gross profit, FY2020: 22.6M Net income, FY2020: -3.3M Revenue, FY2021: 64.3M Gross profit, FY2021: 24.6M Net income, FY2021: -10.1M Revenue, FY2022: 75.9M Gross profit, FY2022: 28M Net income, FY2022: -8.7M Revenue, FY2023: 56M Gross profit, FY2023: 20.8M Net income, FY2023: -12.4M Revenue, FY2024: 60.6M Gross profit, FY2024: 24.8M Net income, FY2024: -8.7M Revenue, FY2025: 51.8M Gross profit, FY2025: 22.5M Net income, FY2025: -6.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $43.4M $49.5M $60.6M $55.7M $48.5M $64.3M $75.9M $56.0M $60.6M $51.8M
Gross profit $19.3M $23.3M $26.5M $25.3M $22.6M $24.6M $28.0M $20.8M $24.8M $22.5M
Net income $3.7M $1.1M -$2.6M $926.0K -$3.3M -$10.1M -$8.7M -$12.4M -$8.7M -$6.4M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02
  • Annual report filed Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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