AirNet Technology Inc. (ANTE) Financials
Newest figures come from the 10-K for FY2025, filed Apr 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ANTE SEC filings page.
AirNet Technology Inc. (ANTE) reported $28.2M in revenue for fiscal year 2025, up 8107.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Revenue scaled sharply, but development spending and capital investment still leave the business loss-making and cash-consuming.
FY2025’s positive operating cash flow of$7.1M contrasted with a net loss of$28.1M , so reported earnings did not map directly to near-term operating cash. After$24.3M of capital spending, free cash flow stood at-$26.1M , making reinvestment—not day-to-day operations—the main reported cash constraint.
Revenue rebounded to
The balance sheet shifted sharply toward equity funding: assets reached
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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 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.
AirNet Technology Inc. held $999K in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations generated $7.1M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and AirNet Technology Inc. scores 86/100 among other emerging companies.
AirNet Technology Inc. had 6M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and AirNet Technology Inc. scores 46/100 among other emerging companies.
AirNet Technology Inc. spent $44.3M on research and development in fiscal year 2025, which was 60.6% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and AirNet Technology Inc. scores 84/100 among other emerging companies.
AirNet Technology Inc. reported revenue of $28.2M in fiscal year 2025, against $343K in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and AirNet Technology Inc. scores 96/100 among other emerging companies.
AirNet Technology Inc.'s operations generated $7.1M of cash in fiscal year 2025, against $22.7M generated in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and AirNet Technology Inc. scores 99/100 among other emerging companies.
AirNet Technology Inc.'s cash, cash equivalents and investments came to $999K at the end of fiscal year 2025, against $331K of total liabilities. Balance Sheet ranks emerging companies on that comparison, and AirNet Technology Inc. scores 82/100 among other emerging companies.
AirNet Technology Inc. scores 697.21, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($385.3M) relative to total liabilities ($331K). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
AirNet Technology Inc. passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
AirNet Technology Inc. reported a net loss of $28.1M while generating $7.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
AirNet Technology Inc. held $999K in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
ANTE 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.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
ANTE 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 | Q4'2510-K | Q2'256-K | Q4'2410-K | Q2'24 | Q4'23 | Q4'22 | Q4'21 | Q4'20 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $311.9M+418.0% | $66.3M-31.2% | $60.2M-16.6% | $96.4M | $72.2M-37.3% | $115.1M+19.9% | $96.0M-16.5% | $115.1M+17.8% |
| Current Assets | $211.4M+714.5% | $24.1M-55.8% | $26.0M-13.2% | $54.6M | $29.9M-57.1% | $69.8M+90.4% | $36.6M-37.5% | $58.6M+50.7% |
| Cash & Equivalents | $999K+49850.0% | $208K-97.1% | $2K-98.7% | $7.1M | $150K-94.0% | $2.5M+92.3% | $1.3M+359.7% | $283K-70.5% |
| Accounts Receivable | N/A | N/A | N/A | $34K | $19K-98.7% | $1.4M-37.1% | $2.3M-78.3% | $10.4M+23.5% |
| Total Liabilities | $331K-99.3% | $51.0M-2.2% | $49.3M-18.3% | $52.2M | $60.3M-13.1% | $69.4M-3.0% | $71.5M-14.3% | $83.5M+8.0% |
| Current Liabilities | $331K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Non-Current Liabilities | $0-100.0% | $3.7M+3.3% | $3.6M-58.9% | $3.6M | $8.8M+127.3% | -$32.4M+3.1% | -$33.4M-10.0% | -$30.4M+16.3% |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $2.6M+0.7% |
| Total Equity | $311.6M+2751.6% | $15.3M-65.3% | $10.9M-7.8% | $44.2M | $11.8M-74.1% | $45.8M+86.8% | $24.5M-22.5% | $31.6M+54.5% |
| Retained Earnings | -$360.5M-8.4% | -$334.5M-11.9% | -$332.5M-4.3% | -$298.9M | -$318.8M-0.2% | -$318.2M-4.4% | -$304.9M-6.5% | -$286.4M+2.6% |
Not reported in any period shown, so not listed: Short-Term Investments, Inventory, Long-Term Investments, Goodwill.
ANTE 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.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
ANTE 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.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
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 |
|---|---|---|---|---|---|---|
| AirNet Technology Inc. ANTE | FY2025 | $28.2M | -$28.1M | -99.7% | $385.3M | 82/100 |
| Clear Channel Outdoor Holdings, Inc. CCO | FY2025 | $1.6B | $19.9M | 1.2% | $1.2B | 41/100 |
| Nexxen International Ltd. NEXN | FY2025 | $364.8M | $25.0M | 6.9% | $513.7M | 44/100 |
| Advantage Solutions Inc. ADV | FY2025 | $3.5B | -$227.7M | -6.4% | $394.9M | 28/100 |
| National CineMedia, Inc. NCMI | FY2025 | $243.2M | -$10.6M | -4.4% | $199.4M | 57/100 |
| QuinStreet, Inc. QNST | FY2026 | $1.3B | $81.2M | 6.3% | $877.2M | 56/100 |
Where AirNet Technology Inc. Ranks
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 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) recorded an outflow of $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.
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 Altman Z-Score?
AirNet Technology Inc. (ANTE) has an Altman Z-Score of 697.21, placing it in the Safe Zone (low 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 AirNet Technology Inc.'s Piotroski F-Score?
AirNet Technology Inc. (ANTE) has a Piotroski F-Score of 5 out of 7 computable signals; 2 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 AirNet Technology Inc.'s earnings high quality?
AirNet Technology Inc. (ANTE) reported a net loss of $28.1M while generating $7.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, 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 AirNet Technology Inc.?
AirNet Technology Inc. (ANTE) scores 82 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite 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.