Airnet Technology Inc Financials

ANTE

Source SEC Filings (10-K/10-Q) Updated Jun 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 0/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Airnet Technology Inc has an operating margin of -1976.7%, meaning the company retains $-1977 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -456.3% the prior year.

Growth

Airnet Technology Inc's revenue declined 59.4% year-over-year, from $845K to $343K. This contraction results in a growth score of 0/100.

Leverage

Airnet Technology Inc has elevated debt relative to equity (D/E of 4.51), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

Airnet Technology Inc's current ratio of 0.33 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.

Cash Flow

While Airnet Technology Inc generated $22.7M in operating cash flow, capex of $24.3M consumed most of it, leaving -$1.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

3/9

Airnet Technology Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-1.66x

For every $1 of reported earnings, Airnet Technology Inc generates $-1.66 in operating cash flow ($22.7M OCF vs -$13.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

This page shows Airnet Technology Inc (ANTE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).

Export CSV

Key Financial Metrics

Revenue

$343K

YoY-59.4%

5Y CAGR-57.9%

10Y CAGR-41.7%

Airnet Technology Inc generated $343K in revenue in fiscal year 2024. This represents a decrease of 59.4% from the prior year.

EBITDA

-$6.8M

YoY-133.4%

Airnet Technology Inc's EBITDA was -$6.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 133.4% from the prior year.

Free Cash Flow

-$1.6M

YoY+14.3%

Airnet Technology Inc generated -$1.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 14.3% from the prior year.

Net Income

-$13.7M

YoY-2278.2%

Airnet Technology Inc reported -$13.7M in net income in fiscal year 2024. This represents a decrease of 2278.2% from the prior year.

EPS (Diluted)

$-1.22

Airnet Technology Inc earned $-1.22 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 1255.6% from the prior year.

Cash & Debt

$113K

YoY-24.7%

5Y CAGR-34.8%

10Y CAGR-47.2%

Airnet Technology Inc held $113K in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

14M

Airnet Technology Inc had 14M shares outstanding in fiscal year 2024. This represents an increase of 220.3% from the prior year.

Gross Margin

10.8%

YoY+73.6pp

5Y CAGR+39.9pp

10Y CAGR+39.6pp

Airnet Technology Inc's gross margin was 10.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 73.6 percentage points from the prior year.

Operating Margin

-1976.7%

YoY-1520.3pp

5Y CAGR-1848.4pp

10Y CAGR-1903.7pp

Airnet Technology Inc's operating margin was -1976.7% in fiscal year 2024, reflecting core business profitability. This is down 1520.3 percentage points from the prior year.

Net Margin

-3979.9%

YoY-3912.0pp

5Y CAGR-3858.9pp

10Y CAGR-3946.1pp

Airnet Technology Inc's net profit margin was -3979.9% in fiscal year 2024, showing the share of revenue converted to profit. This is down 3912.0 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$24.3M

5Y CAGR+54.0%

10Y CAGR+18.9%

Airnet Technology Inc invested $24.3M in capex in fiscal year 2024, funding long-term assets and infrastructure.

ANTE Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$343K-59.4%	$845K-68.4%	$2.7M-70.5%	$9.1M-61.3%	$23.4M-9.9%	$26.0M
Cost of Revenue	$306K-77.8%	$1.4M-55.8%	$3.1M-75.4%	$12.7M-35.4%	$19.6M-41.7%	$33.6M
Gross Profit	$37K+107.0%	-$531K-20.4%	-$441K+87.7%	-$3.6M-193.1%	$3.8M+150.8%	-$7.6M
R&D Expenses	N/A	$35K0.0%	$35K-90.4%	$365K-49.6%	$724K-37.4%	$1.2M
SG&A Expenses	$6.6M+140.1%	$2.7M-50.2%	$5.5M-30.3%	$7.9M-19.7%	$9.8M-51.5%	$20.2M
Operating Income	-$6.8M-75.8%	-$3.9M+47.7%	-$7.4M+46.6%	-$13.8M-49.7%	-$9.2M+72.4%	-$33.4M
Interest Expense	N/A	-$320K+61.7%	-$835K+71.0%	-$2.9M-288.7%	-$742K-70.2%	-$436K
Income Tax	N/A	$1K-94.1%	$17K-94.0%	$284K+102.8%	-$10.2M-1581.2%	$691K
Net Income	-$13.7M-2278.2%	-$574K+95.7%	-$13.3M+23.1%	-$17.3M-330.3%	$7.5M+123.9%	-$31.5M
EPS (Diluted)	$-1.22	$-0.09+94.7%	$-1.71+56.7%	$-3.95	$2.39+1056.0%	$-0.25

Metric	Q2'25	Q2'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ANTE Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$60.2M-16.6%	$72.2M-37.3%	$115.1M+19.9%	$96.0M-16.5%	$115.1M+17.8%	$97.7M
Current Assets	$26.0M-13.2%	$29.9M-57.1%	$69.8M+90.4%	$36.6M-37.5%	$58.6M+50.7%	$38.9M
Cash & Equivalents	$113K-24.7%	$150K-94.0%	$2.5M+92.3%	$1.3M+359.7%	$283K-70.5%	$958K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	$19K-98.7%	$1.4M-37.1%	$2.3M-78.3%	$10.4M+23.5%	$8.4M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$49.3M-18.3%	$60.3M-13.1%	$69.4M-3.0%	$71.5M-14.3%	$83.5M+8.0%	$77.2M
Current Liabilities	$78.6M-6.9%	$84.4M-17.1%	$101.8M-3.0%	$105.0M-7.8%	$113.8M+0.2%	$113.5M
Long-Term Debt	N/A	N/A	N/A	$0-100.0%	$2.6M+0.7%	$2.6M
Total Equity	$10.9M-7.8%	$11.8M-74.1%	$45.8M+86.8%	$24.5M-22.5%	$31.6M+54.5%	$20.5M
Retained Earnings	-$332.5M-4.3%	-$318.8M-0.2%	-$318.2M-4.4%	-$304.9M-6.5%	-$286.4M+2.6%	-$293.9M

Metric	Q2'25	Q2'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Total Assets	$66.3M+10.2%	$60.2M-16.6%	$72.2M-37.3%	$115.1M+19.9%	$96.0M-16.5%	$115.1M+17.8%	$97.7M-24.7%	$129.8M
Current Assets	$24.1M-7.0%	$26.0M-13.2%	$29.9M-57.1%	$69.8M+90.4%	$36.6M-37.5%	$58.6M+50.7%	$38.9M-41.4%	$66.4M
Cash & Equivalents	$208K+84.1%	$113K-24.7%	$150K-94.0%	$2.5M+92.3%	$1.3M+359.7%	$283K-70.5%	$958K-93.8%	$15.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	$34K+78.9%	$19K-98.7%	$1.4M-37.1%	$2.3M-78.3%	$10.4M+23.5%	$8.4M+6.1%	$7.9M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$51.0M+3.5%	$49.3M-18.3%	$60.3M-13.1%	$69.4M-3.0%	$71.5M-14.3%	$83.5M+8.0%	$77.2M-1.5%	$78.4M
Current Liabilities	$80.2M+2.0%	$78.6M-6.9%	$84.4M-17.1%	$101.8M-3.0%	$105.0M-7.8%	$113.8M+0.2%	$113.5M+0.8%	$112.7M
Long-Term Debt	N/A	N/A	N/A	N/A	$0-100.0%	$2.6M+0.7%	$2.6M-6.4%	$2.8M
Total Equity	$15.3M+40.4%	$10.9M-7.8%	$11.8M-74.1%	$45.8M+86.8%	$24.5M-22.5%	$31.6M+54.5%	$20.5M-60.2%	$51.4M
Retained Earnings	-$334.5M-0.6%	-$332.5M-4.3%	-$318.8M-0.2%	-$318.2M-4.4%	-$304.9M-6.5%	-$286.4M+2.6%	-$293.9M-12.0%	-$262.4M

ANTE Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$22.7M+1350.5%	-$1.8M-395.9%	$614K+112.3%	-$5.0M+10.4%	-$5.6M+62.8%	-$14.9M
Capital Expenditures	$24.3M	$0	$0	$0-100.0%	$2.8M0.0%	$2.8M
Free Cash Flow	-$1.6M+14.3%	-$1.8M-395.9%	$614K+112.3%	-$5.0M+40.5%	-$8.4M+52.8%	-$17.7M
Investing Cash Flow	-$29.2M	$0	$0	$0-100.0%	$4.4M0.0%	$4.4M
Financing Cash Flow	$6.2M+603.7%	-$1.2M-200.8%	$1.2M+112.8%	-$9.4M-149.2%	$19.2M+543.3%	-$4.3M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ANTE Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	10.8%+73.6pp	-62.8%-46.3pp	-16.5%+23.0pp	-39.5%-55.9pp	16.4%+45.5pp	-29.1%
Operating Margin	-1976.7%-1520.3pp	-456.3%-180.6pp	-275.7%-123.7pp	-152.0%-112.7pp	-39.3%+88.9pp	-128.3%
Net Margin	-3979.9%-3912.0pp	-67.9%+430.9pp	-498.9%-307.8pp	-191.1%-223.2pp	32.1%+153.1pp	-121.0%
Return on Equity	N/A	N/A	N/A	N/A	23.8%	N/A
Return on Assets	-22.7%-21.9pp	-0.8%+10.8pp	-11.6%+6.5pp	-18.1%-24.6pp	6.5%+38.8pp	-32.2%
Current Ratio	0.33-0.0	0.35-0.3	0.69+0.3	0.35-0.2	0.52+0.2	0.34
Debt-to-Equity	4.51-0.6	5.09+3.6	1.52+1.5	0.00-0.1	0.08-0.0	0.13
FCF Margin	-453.9%-238.9pp	-215.0%-238.0pp	23.0%+77.8pp	-54.8%-19.2pp	-35.7%+32.4pp	-68.1%

Metric	Q2'25	Q2'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	0.30-0.0	0.33-0.0	0.35-0.3	0.69+0.3	0.35-0.2	0.52+0.2	0.34-0.2	0.59
Debt-to-Equity	3.32-1.2	4.51-0.6	5.09+3.6	1.52+1.5	0.00-0.1	0.08-0.0	0.13+0.1	0.05
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.33), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Clear Channel Outdoor Hldgs In CCO

$1.2B

Nexxen International NEXN

$343.3M

Advantage Solutions Inc. ADV

$199.2M

National Cinemedia Inc NCMI

$305.0M

Quinstreet QNST

$601.9M

Frequently Asked Questions

What is Airnet Technology Inc's annual revenue?

Airnet Technology Inc (ANTE) reported $343K in total revenue for fiscal year 2024. This represents a -59.4% 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 Airnet Technology Inc's revenue growing?

Airnet Technology Inc (ANTE) revenue declined by 59.4% year-over-year, from $845K to $343K in fiscal year 2024.

Is Airnet Technology Inc profitable?

No, Airnet Technology Inc (ANTE) reported a net income of -$13.7M in fiscal year 2024, with a net profit margin of -3979.9%.

What is Airnet Technology Inc's earnings per share (EPS)?

Airnet Technology Inc (ANTE) reported diluted earnings per share of $-1.22 for fiscal year 2024. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Airnet Technology Inc's EBITDA?

Airnet Technology Inc (ANTE) had EBITDA of -$6.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Airnet Technology Inc's gross margin?

Airnet Technology Inc (ANTE) had a gross margin of 10.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Airnet Technology Inc's operating margin?

Airnet Technology Inc (ANTE) had an operating margin of -1976.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Airnet Technology Inc's net profit margin?

Airnet Technology Inc (ANTE) had a net profit margin of -3979.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Airnet Technology Inc's free cash flow?

Airnet Technology Inc (ANTE) generated -$1.6M in free cash flow during fiscal year 2024. This represents a 14.3% change compared to the previous fiscal year. 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 Airnet Technology Inc's operating cash flow?

Airnet Technology Inc (ANTE) generated $22.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Airnet Technology Inc's total assets?

Airnet Technology Inc (ANTE) had $60.2M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Airnet Technology Inc's capital expenditures?

Airnet Technology Inc (ANTE) invested $24.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Airnet Technology Inc have outstanding?

Airnet Technology Inc (ANTE) had 14M shares outstanding as of fiscal year 2024.

What is Airnet Technology Inc's current ratio?

Airnet Technology Inc (ANTE) had a current ratio of 0.33 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Airnet Technology Inc's debt-to-equity ratio?

Airnet Technology Inc (ANTE) had a debt-to-equity ratio of 4.51 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Airnet Technology Inc's return on assets (ROA)?

Airnet Technology Inc (ANTE) had a return on assets of -22.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Airnet Technology Inc's Piotroski F-Score?

Airnet Technology Inc (ANTE) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Airnet Technology Inc's earnings high quality?

Airnet Technology Inc (ANTE) has an earnings quality ratio of -1.66x, considered mixed quality. 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 Airnet Technology Inc?

Airnet Technology Inc (ANTE) scores 0 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.