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

Airnet Technology Inc (ANTE) reported diluted earnings per share of $-19.26 for fiscal year 2025. This represents a 84.2% change compared to the previous fiscal year. 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.

Airnet Technology Inc Financials

ANTE

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Airnet Technology Inc (ANTE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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).

Rhea AI ANTE FY2024 2026-04-22

AirNet's revenue base has collapsed, so cash movements now reflect balance-sheet repositioning more than normal selling activity or scale.

In FY2024, operating cash flow reached $22.7M even though revenue was only $343K. Because free cash flow was still -$1.6M after $24.3M of capex, the cash improvement appears to come from releasing balance-sheet items rather than from the underlying sales engine funding itself.

The business is now fixed-cost heavy relative to revenue: FY2024 gross profit was just $37K, while SG&A alone was $6.6M. That explains why moving back to a positive gross margin did little for profitability; a modest sales rebound would not solve the problem without a far smaller support structure or a much larger revenue base.

The capital structure is supporting a much smaller operating business than it did only two years earlier. Equity fell from $45.8M in FY2022 to $10.9M in FY2024, and with liabilities still at $49.3M against just $343K of revenue, financing now looks tied more to assets and obligations than to an active sales engine.

Financial Health Signals

Financial Profile 50/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Airnet Technology 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.

Profitability

Airnet Technology Inc has an operating margin of -160.1%, meaning the company retains $-160 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 up from -512.8% the prior year.

Growth

100

Airnet Technology Inc's revenue surged 8107.3% year-over-year to $28.2M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

100

Airnet Technology Inc carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 638.68, Airnet Technology Inc holds $638.68 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While Airnet Technology Inc generated $7.1M in operating cash flow, capex of $24.3M consumed most of it, leaving -$26.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Airnet Technology Inc generates a -9.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -124.9% the prior year.

Piotroski F-Score Neutral

5/9

Airnet Technology Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-0.25x

For every $1 of reported earnings, Airnet Technology Inc generates $-0.25 in operating cash flow ($7.1M OCF vs -$28.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$28.2M

YoY+8107.3%

5Y CAGR+3.7%

10Y CAGR-5.7%

Airnet Technology Inc generated $28.2M in revenue in fiscal year 2025. This represents an increase of 8107.3% from the prior year.

EBITDA

-$35.9M

YoY-1972.9%

Airnet Technology Inc's EBITDA was -$35.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1972.9% from the prior year.

Net Income

-$28.1M

YoY-105.5%

Airnet Technology Inc reported -$28.1M in net income in fiscal year 2025. This represents a decrease of 105.5% from the prior year.

EPS (Diluted)

$-19.26

YoY+84.2%

Airnet Technology Inc earned $-19.26 per diluted share (EPS) in fiscal year 2025. This represents an increase of 84.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$26.1M

YoY-1576.0%

Airnet Technology Inc generated -$26.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 1576.0% from the prior year.

Cash & Debt

$999K

YoY+49850.0%

5Y CAGR+28.7%

10Y CAGR-36.0%

Airnet Technology Inc held $999K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

YoY-61.4%

Airnet Technology Inc had 6M shares outstanding in fiscal year 2025. This represents a decrease of 61.4% from the prior year.

Margins & Returns

Gross Margin

-2.5%

YoY-13.3pp

5Y CAGR-18.9pp

10Y CAGR+74.8pp

Airnet Technology Inc's gross margin was -2.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 13.3 percentage points from the prior year.

Operating Margin

-160.1%

YoY+352.8pp

5Y CAGR-120.7pp

10Y CAGR-10.5pp

Airnet Technology Inc's operating margin was -160.1% in fiscal year 2025, reflecting core business profitability. This is up 352.8 percentage points from the prior year.

Net Margin

-99.7%

YoY+3880.2pp

5Y CAGR-131.8pp

10Y CAGR-393.9pp

Airnet Technology Inc's net profit margin was -99.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3880.2 percentage points from the prior year.

Return on Equity

-9.0%

YoY+115.9pp

5Y CAGR-32.8pp

10Y CAGR-47.7pp

Airnet Technology Inc's ROE was -9.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 115.9 percentage points from the prior year.

Capital Allocation

R&D Spending

$44.3M

YoY+2421.1%

5Y CAGR+127.7%

Airnet Technology Inc invested $44.3M in research and development in fiscal year 2025. This represents an increase of 2421.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$24.3M

YoY+0.0%

5Y CAGR+54.0%

10Y CAGR+8.9%

Airnet Technology Inc invested $24.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 0.0% from the prior year.

ANTE Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$28.2M+8107.3%	$343K-59.4%	$845K-68.4%	$2.7M-70.5%	$9.1M-61.3%	$23.4M
Cost of Revenue	$28.9M+9333.7%	$306K-77.8%	$1.4M-55.8%	$3.1M-75.4%	$12.7M-35.4%	$19.6M
Gross Profit	-$716K-2035.1%	$37K+107.0%	-$531K-20.4%	-$441K+87.7%	-$3.6M-193.1%	$3.8M
R&D Expenses	$44.3M+2421.1%	$1.8M+231.3%	$531K+1417.1%	$35K-90.4%	$365K-49.6%	$724K
SG&A Expenses	N/A	$6.6M+140.1%	$2.7M-50.2%	$5.5M-30.3%	$7.9M-19.7%	$9.8M
Operating Income	-$45.1M-2461.8%	-$1.8M-231.3%	-$531K+92.8%	-$7.4M+46.6%	-$13.8M-49.7%	-$9.2M
Interest Expense	N/A	N/A	-$320K+61.7%	-$835K+71.0%	-$2.9M-288.7%	-$742K
Income Tax	N/A	N/A	$1K-94.1%	$17K-94.0%	$284K+102.8%	-$10.2M
Net Income	-$28.1M-105.5%	-$13.7M-2278.2%	-$574K+95.7%	-$13.3M+23.1%	-$17.3M-330.3%	$7.5M
EPS (Diluted)	$-19.26+84.2%	$-121.89	$-8.73-410.5%	$-1.71+56.7%	$-3.95	$2.39

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q4'21	Q4'20
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	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$311.9M+418.0%	$60.2M-16.6%	$72.2M-37.3%	$115.1M+19.9%	$96.0M-16.5%	$115.1M
Current Assets	$211.4M+714.5%	$26.0M-13.2%	$29.9M-57.1%	$69.8M+90.4%	$36.6M-37.5%	$58.6M
Cash & Equivalents	$999K+49850.0%	$2K-98.7%	$150K-94.0%	$2.5M+92.3%	$1.3M+359.7%	$283K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	$19K-98.7%	$1.4M-37.1%	$2.3M-78.3%	$10.4M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$331K-99.3%	$49.3M-18.3%	$60.3M-13.1%	$69.4M-3.0%	$71.5M-14.3%	$83.5M
Current Liabilities	$331K	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	$0-100.0%	$2.6M
Total Equity	$311.6M+2751.6%	$10.9M-7.8%	$11.8M-74.1%	$45.8M+86.8%	$24.5M-22.5%	$31.6M
Retained Earnings	-$360.5M-8.4%	-$332.5M-4.3%	-$318.8M-0.2%	-$318.2M-4.4%	-$304.9M-6.5%	-$286.4M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q4'21	Q4'20
Total Assets	$311.9M+370.2%	$66.3M+10.2%	$60.2M-37.5%	$96.4M+33.5%	$72.2M-37.3%	$115.1M+19.9%	$96.0M-16.5%	$115.1M
Current Assets	$211.4M+776.0%	$24.1M-7.0%	$26.0M-52.5%	$54.6M+82.6%	$29.9M-57.1%	$69.8M+90.4%	$36.6M-37.5%	$58.6M
Cash & Equivalents	$999K+380.3%	$208K+10300.0%	$2K-100.0%	$7.1M+4651.3%	$150K-94.0%	$2.5M+92.3%	$1.3M+359.7%	$283K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	$34K+78.9%	$19K-98.7%	$1.4M-37.1%	$2.3M-78.3%	$10.4M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$331K-99.4%	$51.0M+3.5%	$49.3M-5.5%	$52.2M-13.5%	$60.3M-13.1%	$69.4M-3.0%	$71.5M-14.3%	$83.5M
Current Liabilities	$331K	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$2.6M
Total Equity	$311.6M+1930.9%	$15.3M+40.4%	$10.9M-75.3%	$44.2M+273.1%	$11.8M-74.1%	$45.8M+86.8%	$24.5M-22.5%	$31.6M
Retained Earnings	-$360.5M-7.8%	-$334.5M-0.6%	-$332.5M-11.2%	-$298.9M+6.2%	-$318.8M-0.2%	-$318.2M-4.4%	-$304.9M-6.5%	-$286.4M

ANTE Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$7.1M-69.0%	$22.7M+1350.5%	-$1.8M-395.9%	$614K+112.3%	-$5.0M+10.4%	-$5.6M
Capital Expenditures	$24.3M0.0%	$24.3M	$0	$0	$0-100.0%	$2.8M
Free Cash Flow	-$26.1M-1576.0%	-$1.6M+14.3%	-$1.8M-395.9%	$614K+112.3%	-$5.0M+40.5%	-$8.4M
Investing Cash Flow	-$1.5M+94.9%	-$29.2M	$0	$0	$0-100.0%	$4.4M
Financing Cash Flow	$29.1M+372.8%	$6.2M+603.7%	-$1.2M-200.8%	$1.2M+112.8%	-$9.4M-149.2%	$19.2M
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	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q4'21	Q4'20
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	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	-2.5%-13.3pp	10.8%+73.6pp	-62.8%-46.3pp	-16.5%+23.0pp	-39.5%-55.9pp	16.4%
Operating Margin	-160.1%+352.8pp	-512.8%-450.0pp	-62.8%+212.9pp	-275.7%-123.7pp	-152.0%-112.7pp	-39.3%
Net Margin	-99.7%+3880.2pp	-3979.9%-3912.0pp	-67.9%+430.9pp	-498.9%-307.8pp	-191.1%-223.2pp	32.1%
Return on Equity	-9.0%+115.9pp	-124.9%-120.1pp	-4.8%+24.3pp	-29.1%+41.6pp	-70.8%-94.6pp	23.8%
Return on Assets	-9.0%+13.7pp	-22.7%-21.9pp	-0.8%+10.8pp	-11.6%+6.5pp	-18.1%-24.6pp	6.5%
Current Ratio	638.68	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.00-4.5	4.51-0.6	5.09+3.6	1.52+1.5	0.00-0.1	0.08
FCF Margin	-92.7%+361.2pp	-453.9%-238.9pp	-215.0%-238.0pp	23.0%+77.8pp	-54.8%-19.2pp	-35.7%

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q4'22	Q4'21	Q4'20
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	638.68	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.00-3.3	3.32-1.2	4.51+3.3	1.18-3.9	5.09+3.6	1.52+1.5	0.00-0.1	0.08
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Airnet Technology Inc's annual revenue?

Airnet Technology Inc (ANTE) reported $28.2M in total revenue for fiscal year 2025. This represents a 8107.3% 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 grew by 8107.3% year-over-year, from $343K to $28.2M in fiscal year 2025.

Is Airnet Technology Inc profitable?

No, Airnet Technology Inc (ANTE) reported a net income of -$28.1M in fiscal year 2025, with a net profit margin of -99.7%.

What is Airnet Technology Inc's EBITDA?

Airnet Technology Inc (ANTE) had EBITDA of -$35.9M in fiscal year 2025, 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 -2.5% in fiscal year 2025, 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 -160.1% in fiscal year 2025, 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 -99.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Airnet Technology Inc's return on equity (ROE)?

Airnet Technology Inc (ANTE) has a return on equity of -9.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Airnet Technology Inc's free cash flow?

Airnet Technology Inc (ANTE) generated -$26.1M in free cash flow during fiscal year 2025. This represents a -1576.0% 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 $7.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Airnet Technology Inc's total assets?

Airnet Technology Inc (ANTE) had $311.9M in total assets as of fiscal year 2025, 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 2025, funding long-term assets and infrastructure.

How much does Airnet Technology Inc spend on research and development?

Airnet Technology Inc (ANTE) invested $44.3M in research and development during fiscal year 2025.

How many shares does Airnet Technology Inc have outstanding?

Airnet Technology Inc (ANTE) had 6M shares outstanding as of fiscal year 2025.

What is Airnet Technology Inc's current ratio?

Airnet Technology Inc (ANTE) had a current ratio of 638.68 as of fiscal year 2025, which is generally considered healthy.

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

Airnet Technology Inc (ANTE) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, 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 -9.0% for fiscal year 2025, 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 5 out of 9, indicating neutral 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 to 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 -0.25x, 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 50 out of 100 on our Financial Profile, indicating moderate 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.