AIRGAIN INC

Listed Company

AIRGCIK 0001272842NasdaqNon-AcceleratedSmaller ReportingRadio & Tv Broadcasting & Communications EquipmentFY ends Dec 31

Period

FY 2025

Revenue

$51.78M

Net Income

$-6.43M

Total Assets

$45.34M

Equity

$28.29M

Shares Out

12.22M

Op. Cash Flow

$-1.11M

Business

AIRGAIN INC provides advanced wireless connectivity solutions focused on 5G technology. It offers Smart Network Controlled Repeaters, fixed wireless access (FWA) Lantern devices, asset trackers and NLink cloud services, NimbeLink embedded cellular modems, vehicle gateways (AirgainConnect® Fleet), and embedded and external antennas for consumer, enterprise and automotive applications. The company operates through three primary segments—enterprise, automotive and consumer—supplemented by integrated system solutions and recurring subscription services. Airgain distributes products globally via direct sales and indirect channel partners including distributors, VARs, MSOs, MNOs, OEMs and ODMs.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales	52	61	56	76	64
Cost of goods sold	29	36	35	48	40
Gross profit	23	25	21	28	25
Research and development	10	12	11	11	11
Sales and marketing	9	9	9	11	10
General and administrative	12	13	14	14	14
Total operating expenses	31	34	33	37	37
Loss from operations	−8	−9	−12	−9	−12
Employee retention credit refund	2	0	—	—	—
Interest income, net	351,000	115,000	−109,000	−63,000	−26,000
Other (expense), net	−210,000	−27,000	—	—	—
Total other income, net	2	88,000	−100,000	−5,000	12,000
Loss before income taxes	−6	−9	−12	−9	−12
Income tax expense (benefit)	73,000	−152,000	128,000	84,000	−2
Net loss	−6	−9	−12	−9	−10
Basic (per share)	−0.54	−0.79	−1.2	−0.85	−1.01
Diluted (per share)	−0.54	−0.79	−1.2	−0.85	−1.01
Basic (shares)	12	11	10	10	10
Diluted (shares)	12	11	10	10	10

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	7	9	8	12	15
Trade accounts receivable, net	13	12	7	9	11
Inventories	4	4	2	4	9
Prepaid expenses	868,000	1	—	—	—
Other current assets	1	532,000	—	—	—
Total current assets	26	26	19	27	35
Property and equipment, net	2	2	3	3	3
Operating lease right-of-use assets	4	4	1	2	3
Goodwill	11	11	11	11	11
Intangible assets, net	3	6	8	11	14
Other assets	85,000	74,000	170,000	216,000	352,000
Total assets	45	48	42	54	66
Accounts payable	9	9	6	7	5
Accrued compensation	1	2	728,000	3	2
Accrued liabilities and other	2	2	2	3	3
Short-term lease liabilities	821,000	89,000	865,000	904,000	841,000
Total current liabilities	13	14	10	13	20
Deferred tax liability	186,000	163,000	151,000	139,000	109,000
Long-term lease liabilities	4	4	674,000	2	2
Total liabilities	17	17	11	15	22
Commitments and contingencies (Note 13)	—	—	—	—	—
Common stock and additional paid-in capital, par value $0.0001, 200,000 shares authorized; 12,666 shares issued and 12,125 shares outstanding at December 31, 2025; and 12,070 shares issued and 11,529 shares outstanding at December 31, 2024	127	124	115	111	107
Treasury stock, at cost: 541 shares at December 31, 2025 and 2024	−5	−5	−5	−5	−5
Accumulated deficit	−94	−87	−79	−66	−57
Accumulated other comprehensive loss	−4,000	−4,000	3,000	0	0
Total stockholders' equity	28	31	31	40	44
Total liabilities and stockholders' equity	45	48	42	54	66

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−6	−9	−12	−9	−10
Depreciation	500,000	500,000	700,000	700,000	500,000
Amortization of intangible assets	3	3	3	3	3
Stock-based compensation	3	5	4	5	4
Deferred tax liability	23,000	11,000	12,000	30,000	−2
Amortization of prepaid assets	0	132,000	0	—	—
Trade accounts receivable	−1	−4	1	2	−5
Inventories	372,000	−2	2	5	−6
Prepaid expenses and other current assets	−346,000	−316,000	822,000	−1	371,000
Other assets	−12,000	96,000	6,000	137,000	50,000
Accounts payable	−285,000	3	−93,000	1	2
Accrued compensation	−508,000	668,000	−1	−35,000	−781,000
Accrued liabilities and other	−26,000	−576,000	−793,000	−370,000	1
Lease liabilities	537,000	−148,000	−75,000	−63,000	−26,000
Net cash used in operating activities	−1	−4	−3	4	−11
Purchases of property and equipment	−166,000	−178,000	−346,000	−763,000	−736,000
Purchases of intellectual property	−223,000	0	—	—	—
Net cash used in investing activities	−389,000	−178,000	−346,000	−750,000	−15
Proceeds from at-the-market common stock offering, net of offering costs	167,000	4	0	—	—
Payments for withholding taxes related to net share settlement of equity awards	−191,000	−94,000	−690,000	0	—
Issuance of shares for stock purchase and option plans	374,000	279,000	232,000	228,000	3
Net cash provided by financing activities	350,000	4	−458,000	−6	2
Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash	0	−7,000	3,000	0	—
Net (decrease) increase in cash, cash equivalents and restricted cash	−1	589,000	−4	−3	−24
Income taxes refunded, net	—	17,000	0	—	—
Income taxes (paid), net	−55,000	17,000	112,000	197,000	153,000
Operating lease liabilities resulting from right-of-use assets	912,000	4	11,000	0	—
Accrual of intellectual property	0	581,000	0	—	—

Filings

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