AIRG earnings analysis
What we found in AIRG's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Comparison
- Q1 2026 revenue was $11.5 million, a decline of 4.2% from $12 million in Q1 2025.
- Stable Gross Margin
- Gross margin increased to 43.2% in Q1 2026 from 43.0% in Q1 2025 due to improved consumer product margins.
- Reduced Operating Expenses
- Operating expenses decreased by $1.2 million or 14.2% year-over-year, coming in at $7.1 million.
- EPS Matches Expectations
- The diluted EPS for Q1 2026 was -$0.08, in line with consensus estimates.
- Segment Growth in Enterprise
- Enterprise segment revenues increased by $0.7 million year-over-year, partially offsetting declines in other segments.
- Future Revenue Guidance
- Management projects Q2 revenue to be between $12.5 million and $14.5 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Sales Decline
- Total sales decreased by 4.2% compared to the previous year, driven by lower consumer and automotive market sales.
- Net Loss Accumulation
- Net loss increased to $1.9 million in Q1 2026, compounded by an accumulated deficit of $95.5 million.
- Inventory Surplus Impact
- Management noted a potential surplus of inventory in automotive markets could affect performance into H2 2026.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.08
- Gross margin
- 43.2%
- Operating margin
- -18.3%
- Segment
- Enterprise
- Segment
- Automotive
- Segment
- Consumer
What they said about what is next.
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.
The filing reads about the same as the one before it.
What came before.
- 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.…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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