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AIRGAIN INC

AIRG Clue Score30
United States Fiscal year ends December CIK 0001272842
$4.04 +1.51% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $4.04 −66.22% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue43.4Operating income3.5Net income3.7EPS, diluted0.40Fiscal year 2017Revenue49.5 +14.0%Operating income1.0Net income1.1 −69.4%EPS, diluted0.11Fiscal year 2018Revenue60.6 +22.4%Operating income−3.4Net income−2.6 −326.5%EPS, diluted−0.27Fiscal year 2019Revenue55.7 −8.1%Operating income0.4Net income0.9EPS, diluted0.09Fiscal year 2020Revenue48.5 −13.0%Operating income−3.2Net income−3.3 −454.1%EPS, diluted−0.34Fiscal year 2021Revenue64.3 +32.5%Operating income−12.1Net income−10.1EPS, diluted−1.01Fiscal year 2022Revenue75.9 +18.1%Operating income−8.6Net income−8.7EPS, diluted−0.85Fiscal year 2023Revenue56.0 −26.2%Operating income−12.4Net income−12.4EPS, diluted−1.20Fiscal year 2024Revenue60.6 +8.1%Operating income−8.9Net income−8.7EPS, diluted−0.79Fiscal year 2025Revenue51.8 −14.6%Operating income−8.5Net income−6.4EPS, diluted−0.54
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 43.4 49.5 60.6 55.7 48.5 64.3 75.9 56.0 60.6 51.8
Growth +14.0% +22.4% −8.1% −13.0% +32.5% +18.1% −26.2% +8.1% −14.6%
Operating income 3.5 1.0 −3.4 0.4 −3.2 −12.1 −8.6 −12.4 −8.9 −8.5
Net income 3.7 1.1 −2.6 0.9 −3.3 −10.1 −8.7 −12.4 −8.7 −6.4
Growth −69.4% −326.5% −454.1%
EPS, diluted 0.40 0.11 −0.27 0.09 −0.34 −1.01 −0.85 −1.20 −0.79 −0.54

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin44.4%Operating margin7.9%Net margin8.6%Free cash flow margin10.1%Fiscal year 2017Gross margin47.1%Operating margin2.0%Net margin2.3%Free cash flow margin−1.0%Fiscal year 2018Gross margin43.7%Operating margin−5.6%Net margin−4.3%Free cash flow margin0.6%Fiscal year 2019Gross margin45.4%Operating margin0.7%Net margin1.7%Free cash flow margin2.1%Fiscal year 2020Gross margin46.6%Operating margin−6.6%Net margin−6.8%Free cash flow margin6.1%Fiscal year 2021Gross margin38.3%Operating margin−18.9%Net margin−15.7%Free cash flow margin−18.5%Fiscal year 2022Gross margin36.9%Operating margin−11.3%Net margin−11.4%Free cash flow margin4.9%Fiscal year 2023Gross margin37.1%Operating margin−22.1%Net margin−22.2%Free cash flow margin−6.5%Fiscal year 2024Gross margin40.9%Operating margin−14.7%Net margin−14.3%Free cash flow margin−6.1%Fiscal year 2025Gross margin43.5%Operating margin−16.4%Net margin−12.4%Free cash flow margin−2.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 44.4% 47.1% 43.7% 45.4% 46.6% 38.3% 36.9% 37.1% 40.9% 43.5%
Operating margin 7.9% 2.0% −5.6% 0.7% −6.6% −18.9% −11.3% −22.1% −14.7% −16.4%
Net margin 8.6% 2.3% −4.3% 1.7% −6.8% −15.7% −11.4% −22.2% −14.3% −12.4%
Free cash flow margin 10.1% −1.0% 0.6% 2.1% 6.1% −18.5% 4.9% −6.5% −6.1% −2.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow4.7Capital expenditure−0.3Free cash flow4.4Fiscal year 2017Operating cash flow−0.3Capital expenditure−0.3Free cash flow−0.5 −111.8%Buybacks−1.3Fiscal year 2018Operating cash flow1.4Capital expenditure−1.0Free cash flow0.4Buybacks−2.2Fiscal year 2019Operating cash flow2.4Capital expenditure−1.2Free cash flow1.2 +198.2%Buybacks−1.2Fiscal year 2020Operating cash flow3.7Capital expenditure−0.7Free cash flow3.0 +158.0%Buybacks−0.6Fiscal year 2021Operating cash flow−11.2Capital expenditure−0.7Free cash flow−11.9 −499.9%Buybacks−0.1Fiscal year 2022Operating cash flow4.4Capital expenditure−0.8Free cash flow3.7Buybacks0.0Fiscal year 2023Operating cash flow−3.3Capital expenditure−0.3Free cash flow−3.6 −199.0%Fiscal year 2024Operating cash flow−3.5Capital expenditure−0.2Free cash flow−3.7Fiscal year 2025Operating cash flow−1.1Capital expenditure−0.2Free cash flow−1.3
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 4.7 −0.3 1.4 2.4 3.7 −11.2 4.4 −3.3 −3.5 −1.1
Capital expenditure −0.3 −0.3 −1.0 −1.2 −0.7 −0.7 −0.8 −0.3 −0.2 −0.2
Free cash flow 4.4 −0.5 0.4 1.2 3.0 −11.9 3.7 −3.6 −3.7 −1.3
Growth −111.8% +198.2% +158.0% −499.9% −199.0%
Buybacks n/a −1.3 −2.2 −1.2 −0.6 −0.1 0.0 n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash45.2Shareholders’ equity45.0Fiscal year 2017Cash15.0Shareholders’ equity46.2Fiscal year 2018Cash13.6Shareholders’ equity45.1Fiscal year 2019Cash13.2Shareholders’ equity47.9Fiscal year 2020Cash38.2Shareholders’ equity47.7Fiscal year 2021Cash14.5Shareholders’ equity44.2Fiscal year 2022Cash11.9Shareholders’ equity39.8Fiscal year 2023Cash7.9Shareholders’ equity31.4Fiscal year 2024Cash8.5Shareholders’ equity31.0Fiscal year 2025Cash7.4Shareholders’ equity28.3
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 45.2 15.0 13.6 13.2 38.2 14.5 11.9 7.9 8.5 7.4
Shareholders’ equity 45.0 46.2 45.1 47.9 47.7 44.2 39.8 31.4 31.0 28.3

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
44.4% 47.1% 43.7% 45.4% 46.6% 38.3% 36.9% 37.1% 40.9% 43.5%
7.9% 2.0% −5.6% 0.7% −6.6% −18.9% −11.3% −22.1% −14.7% −16.4%
8.6% 2.4% −4.1% 2.0% −6.2% −18.9% −11.3% −21.9% −14.6% −12.3%
8.6% 2.3% −4.3% 1.7% −6.8% −15.7% −11.4% −22.2% −14.3% −12.4%
10.1% −1.0% 0.6% 2.1% 6.1% −18.5% 4.9% −6.5% −6.1% −2.5%
Spending
12.9% 14.8% 15.4% 16.1% 18.9% 17.0% 14.9% 18.7% 19.6% 18.4%
10.4% 16.2% 15.7% 16.0% 21.6% 21.1% 18.5% 24.1% 20.9% 23.5%
0.6% 0.5% 1.6% 2.2% 1.5% 1.1% 1.0% 0.6% 0.3% 0.3%
0.2% 2.2% n/a 15.0% n/a n/a n/a n/a n/a n/a
Returns
8.3% 2.5% −5.7% 1.9% −6.9% −22.8% −21.7% −39.6% −28.1% −22.7%
6.7% 2.0% −4.9% 1.7% −6.0% −15.2% −15.9% −29.4% −17.9% −14.2%
Balance and payout
19.7% 17.9% 14.7% 12.5% 13.1% 33.5% 26.8% 25.6% 36.1% 37.6%
n/a n/a 561.8% 106.3% 20.4% n/a 0.0% n/a n/a n/a