10-K · February 26, 2026
Airgain’s 2025 10‑K highlights progress moving from RF components to integrated systems (AC‑Fleet and Lighthouse) with multiple carrier certifications and design wins, while revenue remained below prior-year levels.…
Earnings analysis · 10-Q
AIRG earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Airgain, Inc. reported Q1 2026 revenues of $11.5 million, slightly surpassing expectations but down 4.2% year-over-year. The company’s gross margin improved to 43.2%, and operating expenses decreased significantly by…
Read full summary
Airgain, Inc. reported Q1 2026 revenues of $11.5 million, slightly surpassing expectations but down 4.2% year-over-year. The company’s gross margin improved to 43.2%, and operating expenses decreased significantly by 14.2%. Despite a net loss of $1.9 million, forecasts for Q2 suggest a potential rebound with anticipated revenue between $12.5 million to $14.5 million.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.08
- Segment
- Enterprise
- Segment
- Automotive
- Segment
- Consumer
What stood out
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Revenue Comparison
Q1 2026 revenue was $11.5 million, a decline of 4.2% from $12 million in Q1 2025.
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Stable Gross Margin
Gross margin increased to 43.2% in Q1 2026 from 43.0% in Q1 2025 due to improved consumer product margins.
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Reduced Operating Expenses
Operating expenses decreased by $1.2 million or 14.2% year-over-year, coming in at $7.1 million.
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EPS Matches Expectations
The diluted EPS for Q1 2026 was -$0.08, in line with consensus estimates.
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Segment Growth in Enterprise
Enterprise segment revenues increased by $0.7 million year-over-year, partially offsetting declines in other segments.
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Future Revenue Guidance
Management projects Q2 revenue to be between $12.5 million and $14.5 million.
What to watch
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Sales Decline
Total sales decreased by 4.2% compared to the previous year, driven by lower consumer and automotive market sales.
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Net Loss Accumulation
Net loss increased to $1.9 million in Q1 2026, compounded by an accumulated deficit of $95.5 million.
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Inventory Surplus Impact
Management noted a potential surplus of inventory in automotive markets could affect performance into H2 2026.
Management's outlook
Guidance for Q2 2026 indicates expected revenue of $12.5 million to $14.5 million and a net loss per share of -$0.07 at the midpoint.
Earlier filings 4
10-Q · November 12, 2025
Airgain reported third-quarter sales of $14,018,000 and a GAAP net loss of $964,000 (diluted loss per share $0.08). Revenue declined versus the prior-year quarter while gross margin and operating margin improved;…
10-Q · August 6, 2025
Airgain reported Q2 2025 sales of $13,623,000 and GAAP diluted loss per share of $(0.12). Revenue declined versus Q2 2024 ($15,184,000) but gross margin expanded to 42.9% and operating and net losses narrowed…
10-Q · May 11, 2023
Airgain reported Q1 sales of $16,444,000, down $1,078,000 (≈6.2% YoY) from $17,522,000, with gross profit declining to $6,318,000 (gross margin ~38.4%) and an operating loss of $2,790,000 (operating margin ~-17.0%).…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.