Airgain (AIRG) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 26, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AIRG SEC filings page.
Airgain, Inc. (AIRG) reported $51.4M in revenue over the twelve months to Jun 30, 2026, down 9.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Airgain’s revenue contracted, but gross margins and cash generation improved; leaner spending still has not produced profitability.
The FY2025 improvement in cash conversion was meaningful: net loss narrowed to$6.43M while operating cash flow moved to-$1.11M . Yet accounts receivable rose9.5% as revenue fell14.6% , meaning less cash was consumed overall even though more sales were tied up in receivables rather than collected immediately.
Gross margin reached
Capital spending was only
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Airgain, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Airgain, Inc. held $7.4M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $1.1M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Airgain, Inc. scores 76/100 among other emerging companies.
Airgain, Inc. had 12M shares outstanding at the end of fiscal year 2025, against 12M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Airgain, Inc. scores 53/100 among other emerging companies.
Airgain, Inc. spent $9.5M on research and development in fiscal year 2025, which was 15.8% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Airgain, Inc. scores 46/100 among other emerging companies.
Airgain, Inc. reported revenue of $51.8M in fiscal year 2025, against $60.6M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Airgain, Inc. scores 39/100 among other emerging companies.
Airgain, Inc.'s operations used $1.1M of cash in fiscal year 2025, against $3.5M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Airgain, Inc. scores 81/100 among other emerging companies.
Airgain, Inc.'s cash, cash equivalents and investments came to $7.4M at the end of fiscal year 2025, against $17.0M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Airgain, Inc. scores 41/100 among other emerging companies.
Airgain, Inc. scores -0.17, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $93.6M against total assets of $45.3M. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Airgain, Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
Airgain, Inc. reported a net loss of $6.4M while operations used $1.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Airgain, Inc. generated $13.7M in revenue in Q2 2026. This represents an increase of 0.6% from the same quarter a year earlier. Against the prior quarter it is up 19.0%.
Airgain, Inc.'s EBITDA was -$1.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Airgain, Inc. reported a net loss of $1.7M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Airgain, Inc. earned -$0.13 per diluted share (EPS) in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Cash & Balance Sheet
Airgain, Inc. recorded an outflow of $1.8M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 1715.9% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Airgain, Inc. held $7.6M in cash as of Q2 2026; no long-term debt figure is on record for that period.
Not reported for Q2 2026.
Margins & Returns
Airgain, Inc.'s gross margin was 42.3% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 0.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.9 percentage points.
Airgain, Inc.'s operating margin was -12.3% in Q2 2026, reflecting core business profitability. This is up 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.1 percentage points.
Airgain, Inc.'s net profit margin was -12.4% in Q2 2026, showing the share of revenue converted to profit. This is down 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.0 percentage points.
Airgain, Inc.'s quarterly ROE was -5.8% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 0.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.
Capital Allocation
Airgain, Inc. invested $2.9M in research and development in Q2 2026. This represents an increase of 12.8% from the same quarter a year earlier. Against the prior quarter it is up 28.1%.
Airgain, Inc. invested $35K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 118.8% from the same quarter a year earlier. Against the prior quarter it is down 36.4%.
Not reported for Q2 2026.
AIRG Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $13.7M+0.6% | $11.5M-4.2% | $12.1M-19.6% | $14.0M-12.9% | $13.6M-10.3% | $12.0M-15.6% | $15.1M+49.8% | $16.1M+17.6% |
| Cost of Revenue | $7.9M+1.6% | $6.5M+6438.0% | -$7.8M-2880.0% | $100K0.0% | $7.8M+7684.0% | $100K+400.0% | $280K+180.0% | $100K0.0% |
| Gross Profit | $5.8M-0.9% | $5.0M-3.6% | $5.4M-14.6% | $6.1M-9.0% | $5.8M-5.0% | $5.2M-7.5% | $6.4M+117.2% | $6.7M+28.2% |
| R&D Expenses | $2.9M+12.8% | $2.2M-10.0% | $2.4M-15.3% | $2.1M-25.0% | $2.6M-18.1% | $2.5M-19.9% | $2.8M-12.5% | $2.9M+24.2% |
| SG&A Expenses | $4.6M-13.1% | $4.8M-16.0% | $5.5M-1.2% | $4.9M-13.0% | $5.3M-4.5% | $5.8M+13.2% | $5.6M+6.1% | $5.7M+17.0% |
| Operating Income | -$1.7Mn/m | -$2.1Mn/m | -$2.4Mn/m | -$967Kn/m | -$2.0Mn/m | -$3.1Mn/m | -$2.0Mn/m | -$1.8Mn/m |
| EBITDA | -$1.4Mn/m | -$1.8Mn/m | -$1.5Mn/m | -$45Kn/m | -$1.1Mn/m | -$2.2Mn/m | -$890Kn/m | -$1.0Mn/m |
| Income Tax | -$28K-300.0% | $72K+200.0% | $25Kn/m | $10Kn/m | $14K-58.8% | $24Kn/m | -$7K-115.9% | -$39K-1075.0% |
| Net Income | -$1.7Mn/m | -$1.9Mn/m | -$2.4Mn/m | -$964Kn/m | -$1.5Mn/m | -$1.5Mn/m | -$2.0Mn/m | -$1.8Mn/m |
| EPS (Basic) | -$0.13n/m | -$0.15n/m | -$0.20n/m | -$0.08n/m | -$0.12n/m | -$0.13n/m | -$0.17n/m | -$0.16n/m |
| EPS (Diluted) | -$0.13n/m | -$0.15n/m | -$0.20n/m | -$0.08n/m | -$0.12n/m | -$0.13n/m | -$0.17n/m | -$0.16n/m |
| Diluted Shares (Avg) | 13M+8.4% | 12M+6.3% | N/A | 12M+4.2% | 12M+8.3% | 12M+9.9% | N/A | 11M+8.5% |
Not reported in any period shown, so not listed: Interest Expense.
AIRG Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $46.8M+2.9% | $43.4M-5.9% | $45.3M-6.4% | $45.5M+5.3% | $45.5M+7.3% | $46.1M+7.8% | $48.4M+14.7% | $43.3M-6.6% |
| Current Assets | $27.7M+12.8% | $23.8M-0.8% | $25.8M-0.3% | $25.2M+8.5% | $24.6M+15.2% | $24.0M+15.4% | $25.8M+35.4% | $23.3M+4.6% |
| Cash & Equivalents | $7.6M-0.9% | $7.1M-3.7% | $7.4M-13.5% | $7.1M-3.5% | $7.7M-8.8% | $7.4M+3.2% | $8.5M+8.0% | $7.3M-26.5% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Inventory | $4.2M+12.7% | $4.1M+8.3% | $3.6M-9.4% | $3.7M+39.8% | $3.7M+18.2% | $3.8M+45.1% | $4.0M+64.5% | $2.6M-33.7% |
| Accounts Receivable | $14.5M+22.3% | $11.3M-0.9% | $12.8M+9.5% | $12.9M+9.2% | $11.8M+36.8% | $11.4M+17.9% | $11.7M+58.3% | $11.8M+88.1% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Goodwill | $10.8M0.0% | $10.8M0.0% | $10.8M0.0% | $10.8M0.0% | $10.8M0.0% | $10.8M0.0% | $10.8M0.0% | $10.8M0.0% |
| Total Liabilities | $17.5M+11.3% | $15.4M-2.6% | $17.0M-2.4% | $15.8M+27.1% | $15.7M+45.1% | $15.8M+28.5% | $17.5M+61.6% | $12.4M+18.1% |
| Current Liabilities | $13.8M+16.7% | $11.5M+1.0% | $13.0M-3.8% | $11.8M-2.2% | $11.8M+14.4% | $11.4M-2.2% | $13.5M+35.1% | $12.1M+27.2% |
| Non-Current Liabilities | $3.7M-5.1% | $3.9M-12.0% | $4.1M+2.3% | $4.0M+1057.6% | $3.9M+631.1% | $4.4M+593.2% | $4.0M+381.6% | $344K-66.4% |
| Total Equity | $29.3M-1.6% | $28.0M-7.6% | $28.3M-8.7% | $29.7M-3.5% | $29.8M-5.7% | $30.3M-0.6% | $31.0M-1.4% | $30.8M-13.9% |
| Retained Earnings | -$97.2Mn/m | -$95.5Mn/m | -$93.6Mn/m | -$91.2Mn/m | -$90.2Mn/m | -$88.8Mn/m | -$87.2Mn/m | -$85.2Mn/m |
Not reported in any period shown, so not listed: Long-Term Debt.
AIRG Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.8M-1488.4% | -$759Kn/m | $194Kn/m | -$411Kn/m | $129Kn/m | -$1.0Mn/m | -$26Kn/m | -$1.2M-284.2% |
| Depreciation & Amortization | $300K-66.7% | $315K-65.7% | $944K+1.9% | $922K+15.3% | $900K+12.5% | $919K+3.6% | $926K+2.5% | $800K-11.1% |
| Stock-Based Compensation | $895K+48.4% | $707K-22.1% | N/A | $380K-64.8% | $603K-50.0% | $907K-13.3% | N/A | $1.1M+106.7% |
| Capital Expenditures | $35K+118.8% | $55K+31.0% | $101K+10000.0% | $7K-74.1% | $16K-82.2% | $42K-30.0% | $1K-99.4% | $27K-60.3% |
| Free Cash Flow | -$1.8M-1715.9% | -$814Kn/m | $93Kn/m | -$418Kn/m | $113Kn/m | -$1.1Mn/m | -$27Kn/m | -$1.2M-310.8% |
| Investing Cash Flow | $53Kn/m | -$143Kn/m | -$101Kn/m | -$230Kn/m | -$16Kn/m | -$42Kn/m | -$1Kn/m | -$27Kn/m |
| Financing Cash Flow | $2.2M+1250.6% | $722Kn/m | $166K-86.2% | $67K-22.1% | $160K-93.7% | -$43K-109.2% | $1.2Mn/m | $86K+28.4% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
AIRG Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.3%-0.6pp | 43.2%+0.3pp | 44.8%+2.6pp | 43.6%+1.9pp | 42.9%+2.4pp | 43.0%+3.8pp | 42.2%+13.1pp | 41.7%+3.5pp |
| Operating Margin | -12.3%+2.4pp | -18.4%+7.4pp | -20.0%-6.8pp | -6.9%+4.4pp | -14.7%+1.8pp | -25.8%-7.3pp | -13.1%+41.4pp | -11.3%+2.7pp |
| Net Margin | -12.4%-1.6pp | -16.5%-3.6pp | -20.1%-7.1pp | -6.9%+4.0pp | -10.8%+5.7pp | -12.9%+4.4pp | -13.0%+41.4pp | -10.9%+2.8pp |
| Return on Equity | -5.8%-0.9pp | -6.8%-1.7pp | -8.6%-2.3pp | -3.2%+2.5pp | -5.0%+3.0pp | -5.1%+3.0pp | -6.3%+11.1pp | -5.7%-0.4pp |
| Return on Assets | -3.6%-0.4pp | -4.4%-1.0pp | -5.4%-1.3pp | -2.1%+1.9pp | -3.2%+2.7pp | -3.4%+2.4pp | -4.0%+8.9pp | -4.1%0.0pp |
| Current Ratio | 2.01-0.1x | 2.070.0x | 1.98+0.1x | 2.13+0.2x | 2.080.0x | 2.11+0.3x | 1.910.0x | 1.92-0.4x |
| Liabilities-to-Equity | 0.60+0.1x | 0.550.0x | 0.600.0x | 0.53+0.1x | 0.53+0.2x | 0.52+0.1x | 0.56+0.2x | 0.40+0.1x |
| Asset Turnover | 0.290.0x | 0.270.0x | 0.270.0x | 0.31-0.1x | 0.30-0.1x | 0.26-0.1x | 0.31+0.1x | 0.37+0.1x |
| FCF Margin | -13.3%-14.2pp | -7.1%+1.8pp | 0.8%+0.9pp | -3.0%+4.5pp | 0.8%+9.3pp | -8.9%-0.6pp | -0.2%+20.8pp | -7.5%-11.7pp |
Not reported in any period shown, so not listed: Debt-to-Equity.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Airgain, Inc. AIRG | FY2025 | $51.8M | -$6.4M | -12.4% | $52.8M | 56/100 |
| Franklin Wireless Corp. FKWL | FY2026 | $36.5M | -$4.7M | -13.0% | $25.9M | 52/100 |
| B.O.S. Better On-Line Solutions Ltd. BOSC | FY2025 | $50.6M | $3.6M | 7.1% | $30.7M | 66/100 |
Where Airgain, Inc. Ranks
Frequently Asked Questions
What is Airgain, Inc.'s annual revenue?
Airgain, Inc. (AIRG) reported $51.8M in total revenue for fiscal year 2025. This represents a -14.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Airgain, Inc.'s revenue growing?
Airgain, Inc. (AIRG) revenue declined by 14.6% year-over-year, from $60.6M to $51.8M in fiscal year 2025.
Is Airgain, Inc. profitable?
No, Airgain, Inc. (AIRG) reported a net loss of $7.0M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net loss of $6.4M, with a net profit margin of -12.4%.
What is Airgain, Inc.'s EBITDA?
Airgain, Inc. (AIRG) had EBITDA of -$4.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Airgain, Inc.'s gross margin?
Airgain, Inc. (AIRG) had a gross margin of 43.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Airgain, Inc.'s operating margin?
Airgain, Inc. (AIRG) had an operating margin of -16.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Airgain, Inc.'s net profit margin?
Airgain, Inc. (AIRG) had a net profit margin of -12.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Airgain, Inc.'s return on equity (ROE)?
Airgain, Inc. (AIRG) has a return on equity of -22.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Airgain, Inc.'s free cash flow?
Airgain, Inc. (AIRG) recorded an outflow of $1.3M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Airgain, Inc.'s operating cash flow?
Airgain, Inc. (AIRG) recorded an outflow of $1.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Airgain, Inc.'s total assets?
Airgain, Inc. (AIRG) had $45.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Airgain, Inc.'s capital expenditures?
Airgain, Inc. (AIRG) invested $166K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Airgain, Inc. spend on research and development?
Airgain, Inc. (AIRG) invested $9.5M in research and development during fiscal year 2025.
What is Airgain, Inc.'s current ratio?
Airgain, Inc. (AIRG) had a current ratio of 1.98 as of fiscal year 2025, which is generally considered healthy.
What is Airgain, Inc.'s liabilities-to-equity ratio?
Airgain, Inc. (AIRG) had a liabilities-to-equity ratio of 0.60 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
What is Airgain, Inc.'s return on assets (ROA)?
Airgain, Inc. (AIRG) had a return on assets of -14.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Airgain, Inc.'s P/E ratio?
Airgain, Inc. (AIRG) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $52.8M as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Airgain, Inc.'s price-to-sales ratio?
Airgain, Inc. (AIRG) trades at 1.0x sales, its market capitalization divided by $51.4M revenue, trailing 12 months to June 30, 2026. The market capitalization is $52.8M as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Airgain, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Airgain, Inc. (AIRG) held $7.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $1.1M over that year. Dividing the one by the other, the reported balance equals about 79 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Airgain, Inc.'s Altman Z-Score?
Airgain, Inc. (AIRG) has an Altman Z-Score of -0.17, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Airgain, Inc.'s Piotroski F-Score?
Airgain, Inc. (AIRG) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Airgain, Inc.'s earnings high quality?
Airgain, Inc. (AIRG) reported a net loss of $6.4M while operations used $1.1M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Airgain, Inc.?
Airgain, Inc. (AIRG) scores 56 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is the average of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.