Airgain® Reports Third Quarter 2025 Financial Results
Delivers Solid Third-Quarter Results with Strong Gross Margins, Positive Adjusted EBITDA, and Continued Progress Toward Scalable Growth
“In the third quarter, we continued to execute with focus and discipline, delivering our third consecutive quarter of sequential revenue growth and positive adjusted EBITDA,” said Jacob Suen, President and CEO of Airgain. “Our core markets remain healthy, providing a solid foundation for continued investment and expansion across our growth platforms. We achieved key certification milestones for both AC-Fleet and Lighthouse, positioning us to scale these platforms in the coming year. With AC-Fleet driving near-term revenue in the fleet and utility markets and Lighthouse expanding into global 5G infrastructure opportunities, Airgain enters 2026 with stronger visibility, a disciplined operating model, and a clear roadmap for scalable long-term growth.”
Third Quarter 2025 and Recent Operational Highlights
-
Achieved FCC certification for Lighthouse™ 5G Smart Network Controlled Repeater, a critical milestone for expanding opportunities with
U.S. system integrators. - Achieved T-Mobile T-Priority certification for AirgainConnect® AC‑Fleet™, delivering mission-critical connectivity for first responder and enterprise markets.
- Expanded AC-Fleet opportunity pipeline, including new utility and energy-infrastructure engagements.
-
Advanced international Lighthouse trials, including with a top-five global tower operator in
Latin America .
Third Quarter 2025 Financial Highlights
-
Sales of
$14.0 million -
GAAP gross margin of
43.6% -
GAAP operating expenses of
$7.1 million -
GAAP net loss of
$1.0 million $(0.08)
Non-GAAP
-
Non-GAAP gross margin of
44.4% -
Non-GAAP operating expenses of
$6.1 million -
Non-GAAP net income of
$0.1 million $0.01 -
Adjusted EBITDA of
$0.3 million
Third Quarter 2025 Financial Results
Sales for the third quarter of 2025 were
GAAP gross profit for the third quarter of 2025 was
GAAP gross margin for the third quarter of 2025 was
GAAP operating expenses for the third quarter of 2025 were
GAAP net loss for the third quarter of 2025 was
Adjusted EBITDA for the third quarter of 2025 was
Fourth Quarter 2025 Financial Outlook
GAAP
-
Sales are expected to be in the range of
$12.0 million $14.0 million $13.0 million -
GAAP gross margin is expected to be in the range of
41.3% to44.3% -
GAAP operating expense is expected to be approximately
$7.2 million -
GAAP net loss per share is expected to be
$(0.13)
Non-GAAP
-
Non-GAAP gross margin is expected to be in the range of
42.5% to45.5% -
Non-GAAP operating expense is expected to be approximately
$5.8 million - Non-GAAP net income per share is expected to be break even at the midpoint
-
Adjusted EBITDA is expected to be
$0.1 million
The Company's financial outlook for the three months ending December 31, 2025, including reconciliations of GAAP to non-GAAP measures can be found at the end of this press release.
Conference Call
Airgain management will hold a conference call on Wednesday, November 12, 2025, at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) to discuss financial results for the third quarter ended September 30, 2025.
Airgain management will host the presentation, followed by a question-and-answer period.
Dial-In: 877-407-2988 / +1 201-389-0923 or Call Me
Confirmation #: 13756601
The conference call will be broadcast simultaneously and will be available for replay via the investor section of the company’s website at investors.airgain.com and here.
The registration link will allow you to replay the webcast after 8:00 p.m. Eastern Time on the same day until November 12, 2026.
About Airgain, Inc.
Headquartered in
Airgain, AirgainConnect, and the Airgain logo are trademarks or registered trademarks of Airgain, Inc. All other trademarks are the property of their respective owners.
Forward-Looking Statements
Airgain cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the company’s current beliefs and expectations. These forward-looking statements include statements regarding our expected profitability and growth, and its scalability and that of our platforms, fourth quarter 2025 financial outlook, and expectations regarding the potential of our platforms and timing and potential impact of platform ramps. The inclusion of forward-looking statements should not be regarded as a representation by Airgain that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: the market for our products is developing and may not develop as we expect; our operating results may fluctuate significantly, including based on seasonal factors, which makes future operating results difficult to predict and could cause our operating results to fall below expectations or guidance; supply constraints on our and our customers' ability to obtain necessary components in our respective supply chains may negatively affect our sales and operating results; risks associated with the performance of our products, including bundled solutions with third-party products; our products are subject to intense competition, and competitive pressures from existing and new companies may harm our business, sales, growth rates, and market share; the potential for the strategic partnership with Omantel to not meet expectations; risks associated with quality and timing in manufacturing our products and our reliance on third-party manufacturers; we may not be able to maintain strategic collaborations under which our bundled solutions are offered; overall global supply shortages and logistics delays within the supply chain that our products are used in, and uncertainty regarding tariffs and trade policies and their potential impacts, as well as in each case, their adverse effect on general
Note Regarding Use of Non-GAAP Financial Measures
To supplement our financial statements presented in accordance with
In computing Adjusted EBITDA, non-GAAP net income (loss), and non-GAAP EPS, we exclude stock-based compensation expense, which represents non-cash charges for the fair value of stock awards; interest income, net of interest expense offset by other expense, depreciation and amortization, workforce reduction severance and exit costs, and provision (benefit) for income taxes. In computing non-GAAP operating expense, we exclude stock-based compensation expense, amortization of intangibles, workforce reduction severance, and exit costs. In computing non-GAAP gross profit and non-GAAP gross margin, we exclude stock-based compensation expense, and amortization of intangible assets. Because of varying available valuation methodologies, subjective assumptions, and the variety of equity instruments that can impact a company’s non-cash operating expenses; we believe that providing non-GAAP financial measures that exclude non-cash expense allows for meaningful comparisons between our core business operating results and those of other companies, as well as providing us with an important tool for financial and operational decision making and for evaluating our own core business operating results over different periods of time. Management considers these types of expenses and adjustments, to a great extent, to be unpredictable and dependent on a considerable number of factors that are outside of our control and are not necessarily reflective of operational performance during a period.
Our non-GAAP measures may not provide information that is directly comparable to that provided by other companies in our industry, as other companies in our industry may calculate non-GAAP financial results differently, particularly related to non-recurring, unusual items. Our Adjusted EBITDA, non-GAAP net income (loss), non-GAAP EPS, non-GAAP operating expense, non-GAAP gross profit and non-GAAP gross margin are not measurements of financial performance under GAAP and should not be considered as an alternative to operating or net income or as an indication of operating performance or any other measure of performance derived in accordance with GAAP. We do not consider these non-GAAP measures to be a substitute for, or superior to, the information provided by GAAP financial results. Reconciliations with specific adjustments to GAAP results and outlooks are provided at the end of this release .
Airgain, Inc. Condensed Consolidated Balance Sheets (in thousands, except par value) |
||||||||
|
|
September 30,
|
|
December 31,
|
||||
|
|
(Unaudited) |
|
|
||||
Assets |
|
|
|
|
||||
Current assets: |
|
|
|
|
||||
Cash and cash equivalents |
|
$ |
7,091 |
|
|
$ |
8,510 |
|
Trade accounts receivable, net |
|
|
12,885 |
|
|
|
11,671 |
|
Inventories |
|
|
3,660 |
|
|
|
3,952 |
|
Prepaid expenses and other current assets |
|
|
1,605 |
|
|
|
1,698 |
|
Total current assets |
|
|
25,241 |
|
|
|
25,831 |
|
Property and equipment, net |
|
|
1,715 |
|
|
|
1,993 |
|
Leased right-of-use assets |
|
|
4,042 |
|
|
|
3,901 |
|
Goodwill |
|
|
10,845 |
|
|
|
10,845 |
|
Intangible assets, net |
|
|
3,626 |
|
|
|
5,799 |
|
Other assets |
|
|
75 |
|
|
|
74 |
|
Total assets |
|
$ |
45,544 |
|
|
$ |
48,443 |
|
Liabilities and stockholders’ equity |
|
|
|
|
||||
Current liabilities: |
|
|
|
|
||||
Accounts payable |
|
$ |
7,938 |
|
|
$ |
9,499 |
|
Accrued compensation |
|
|
547 |
|
|
|
2,041 |
|
Accrued liabilities and other |
|
|
2,613 |
|
|
|
1,872 |
|
Short-term lease liabilities |
|
|
729 |
|
|
|
89 |
|
Total current liabilities |
|
|
11,827 |
|
|
|
13,501 |
|
Deferred tax liability |
|
|
161 |
|
|
|
163 |
|
Long-term lease liabilities |
|
|
3,821 |
|
|
|
3,810 |
|
Total liabilities |
|
|
15,809 |
|
|
|
17,474 |
|
Commitments and contingencies |
|
|
|
|
||||
Stockholders’ equity: |
|
|
|
|
||||
Common stock and additional paid-in capital, par value |
|
|
126,305 |
|
|
|
123,546 |
|
Treasury stock, at cost: 541 shares at September 30, 2025 and December 31, 2024. |
|
|
(5,364 |
) |
|
|
(5,364 |
) |
Accumulated deficit |
|
|
(91,194 |
) |
|
|
(87,209 |
) |
Accumulated other comprehensive loss |
|
|
(12 |
) |
|
|
(4 |
) |
Total stockholders’ equity |
|
|
29,735 |
|
|
|
30,969 |
|
Total liabilities and stockholders’ equity |
|
$ |
45,544 |
|
|
$ |
48,443 |
|
Airgain, Inc. Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) |
||||||||||||||||
|
|
Three months ended
|
|
Nine months ended
|
||||||||||||
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
||||||||
Sales |
|
$ |
14,018 |
|
|
$ |
16,101 |
|
|
$ |
39,654 |
|
|
$ |
45,516 |
|
Cost of goods sold |
|
|
7,907 |
|
|
|
9,387 |
|
|
|
22,544 |
|
|
|
27,078 |
|
Gross profit |
|
|
6,111 |
|
|
|
6,714 |
|
|
|
17,110 |
|
|
|
18,438 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
||||||||
Research and development |
|
|
2,141 |
|
|
|
2,855 |
|
|
|
7,192 |
|
|
|
9,091 |
|
Sales and marketing |
|
|
2,144 |
|
|
|
2,395 |
|
|
|
7,027 |
|
|
|
6,902 |
|
General and administrative |
|
|
2,793 |
|
|
|
3,278 |
|
|
|
8,954 |
|
|
|
9,393 |
|
Total operating expenses |
|
|
7,078 |
|
|
|
8,528 |
|
|
|
23,173 |
|
|
|
25,386 |
|
Loss from operations |
|
|
(967 |
) |
|
|
(1,814 |
) |
|
|
(6,063 |
) |
|
|
(6,948 |
) |
Other income (expense): |
|
|
|
|
|
|
|
|
||||||||
Employee retention credit refund |
|
|
— |
|
|
|
— |
|
|
|
1,989 |
|
|
|
— |
|
Interest income, net |
|
|
13 |
|
|
|
29 |
|
|
|
334 |
|
|
|
82 |
|
Other income (expense), net |
|
|
— |
|
|
|
(11 |
) |
|
|
(197 |
) |
|
|
(4 |
) |
Total other income, net |
|
|
13 |
|
|
|
18 |
|
|
|
2,126 |
|
|
|
78 |
|
Loss before income taxes |
|
|
(954 |
) |
|
|
(1,796 |
) |
|
|
(3,937 |
) |
|
|
(6,870 |
) |
Income tax expense (benefit) |
|
|
10 |
|
|
|
(39 |
) |
|
|
48 |
|
|
|
(145 |
) |
Net loss |
|
$ |
(964 |
) |
|
$ |
(1,757 |
) |
|
$ |
(3,985 |
) |
|
$ |
(6,725 |
) |
Net loss per share: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
$ |
(0.08 |
) |
|
$ |
(0.16 |
) |
|
$ |
(0.34 |
) |
|
$ |
(0.62 |
) |
Diluted |
|
$ |
(0.08 |
) |
|
$ |
(0.16 |
) |
|
$ |
(0.34 |
) |
|
$ |
(0.62 |
) |
Weighted average shares used in calculating loss per share: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
|
11,791 |
|
|
|
11,315 |
|
|
|
11,782 |
|
|
|
10,930 |
|
Diluted |
|
|
11,791 |
|
|
|
11,315 |
|
|
|
11,782 |
|
|
|
10,930 |
|
Airgain, Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) |
||||||||
|
|
Nine months ended September 30, |
||||||
|
|
2025 |
|
2024 |
||||
Cash flows from operating activities: |
|
|
|
|
||||
Net loss |
|
$ |
(3,985 |
) |
|
$ |
(6,725 |
) |
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: |
|
|
|
|
||||
Depreciation |
|
|
339 |
|
|
|
418 |
|
Amortization |
|
|
2,415 |
|
|
|
2,233 |
|
Stock-based compensation |
|
|
1,890 |
|
|
|
3,334 |
|
Deferred tax liability |
|
|
(1 |
) |
|
|
12 |
|
Amortization of prepaid assets |
|
|
— |
|
|
|
132 |
|
Changes in operating assets and liabilities: |
|
|
|
|
||||
Trade accounts receivable |
|
|
(1,214 |
) |
|
|
(4,426 |
) |
Inventories |
|
|
291 |
|
|
|
(214 |
) |
Prepaid expenses and other current assets |
|
|
93 |
|
|
|
(119 |
) |
Other assets |
|
|
(1 |
) |
|
|
101 |
|
Accounts payable |
|
|
(1,575 |
) |
|
|
965 |
|
Accrued compensation |
|
|
(881 |
) |
|
|
707 |
|
Accrued liabilities and other |
|
|
813 |
|
|
|
138 |
|
Lease liabilities |
|
|
509 |
|
|
|
(57 |
) |
Net cash used in operating activities |
|
|
(1,307 |
) |
|
|
(3,501 |
) |
Cash flows from investing activities: |
|
|
|
|
||||
Purchases of property and equipment |
|
|
(65 |
) |
|
|
(177 |
) |
Purchases of Intangible property |
|
|
(223 |
) |
|
|
— |
|
Net cash used in investing activities |
|
|
(288 |
) |
|
|
(177 |
) |
Cash flows from financing activities: |
|
|
|
|
||||
Proceeds from at-the-market common stock offering, net of offering costs |
|
|
— |
|
|
|
3,006 |
|
Payments for withholding taxes related to net share settlement of equity awards |
|
|
(191 |
) |
|
|
(95 |
) |
Proceeds from employee stock purchase and option exercises |
|
|
375 |
|
|
|
187 |
|
Net cash provided by financing activities |
|
|
184 |
|
|
|
3,098 |
|
|
|
|
|
|
||||
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
|
(8 |
) |
|
|
5 |
|
|
|
|
|
|
||||
Net decrease in cash, cash equivalents and restricted cash |
|
|
(1,419 |
) |
|
|
(575 |
) |
Cash, cash equivalents, and restricted cash; beginning of period |
|
|
8,565 |
|
|
|
7,976 |
|
Cash, cash equivalents, and restricted cash; end of period |
|
$ |
7,146 |
|
|
$ |
7,401 |
|
|
|
|
|
|
||||
Supplemental disclosure of cash flow information: |
|
|
|
|
||||
|
|
|
|
|
||||
Interest paid |
|
$ |
1 |
|
|
$ |
— |
|
Income taxes paid |
|
$ |
33 |
|
|
$ |
42 |
|
Income taxes refunded |
|
$ |
16 |
|
|
$ |
50 |
|
|
|
|
|
|
||||
Supplemental disclosure of non-cash investing and financing activities: |
|
|
|
|
||||
Recognition of new right-of-use assets and lease liabilities |
|
$ |
716 |
|
|
$ |
179 |
|
Derecognition of right-of-use assets and lease liabilities due to lease termination |
|
$ |
796 |
|
|
$ |
— |
|
Accrual of property and equipment |
|
$ |
14 |
|
|
$ |
— |
|
|
|
|
|
|
||||
Cash, cash equivalents, and restricted cash: |
|
|
|
|
||||
Cash and cash equivalents |
|
$ |
7,091 |
|
|
$ |
7,346 |
|
Restricted cash included in prepaid expenses and other current assets and other assets long term |
|
|
55 |
|
|
|
55 |
|
Total cash, cash equivalents, and restricted cash |
|
$ |
7,146 |
|
|
$ |
7,401 |
|
Airgain, Inc. (in thousands) (unaudited) |
||||||||||||||||||||
Sales by Target Market |
||||||||||||||||||||
|
|
Three months ended |
|
|
Nine months ended |
|
||||||||||||||
|
|
September 30,
|
|
|
June 30,
|
|
|
September 30,
|
|
|
September 30,
|
|
|
September 30,
|
|
|||||
Enterprise |
|
$ |
6,870 |
|
|
$ |
7,152 |
|
|
$ |
6,665 |
|
|
$ |
18,363 |
|
|
$ |
24,159 |
|
Consumer |
|
|
6,658 |
|
|
|
5,650 |
|
|
|
6,854 |
|
|
|
18,709 |
|
|
|
15,192 |
|
Automotive |
|
|
490 |
|
|
|
821 |
|
|
|
2,582 |
|
|
|
2,582 |
|
|
|
6,165 |
|
Total sales |
|
$ |
14,018 |
|
|
$ |
13,623 |
|
|
$ |
16,101 |
|
|
$ |
39,654 |
|
|
$ |
45,516 |
|
Reconciliation of GAAP to non-GAAP Gross Profit |
|||||||||||||||||||
|
Three months ended |
|
|
Nine months ended |
|
||||||||||||||
|
September 30,
|
|
|
June 30,
|
|
|
September 30,
|
|
|
September 30,
|
|
|
September 30,
|
|
|||||
Gross profit |
$ |
6,111 |
|
|
$ |
5,839 |
|
|
$ |
6,714 |
|
|
$ |
17,110 |
|
|
$ |
18,438 |
|
Stock-based compensation |
|
18 |
|
|
|
39 |
|
|
|
97 |
|
|
|
130 |
|
|
|
220 |
|
Amortization of intangible assets |
|
88 |
|
|
|
89 |
|
|
|
88 |
|
|
|
266 |
|
|
|
266 |
|
Non-GAAP gross profit |
$ |
6,217 |
|
|
$ |
5,967 |
|
|
$ |
6,899 |
|
|
$ |
17,506 |
|
|
$ |
18,924 |
|
Reconciliation of GAAP to non-GAAP Gross Margin |
|||||||||||||||||||
|
Three months ended |
|
Nine months ended |
||||||||||||||||
|
September 30,
|
|
June 30,
|
|
September 30,
|
|
September 30,
|
|
September 30,
|
||||||||||
Gross margin |
|
43.6 |
% |
|
|
42.9 |
% |
|
|
41.7 |
% |
|
|
43.1 |
% |
|
|
40.5 |
% |
Stock-based compensation |
|
0.2 |
% |
|
|
0.3 |
% |
|
|
0.6 |
% |
|
|
0.3 |
% |
|
|
0.5 |
% |
Amortization of intangible assets |
|
0.6 |
% |
|
|
0.6 |
% |
|
|
0.5 |
% |
|
|
0.7 |
% |
|
|
0.6 |
% |
Non-GAAP gross margin |
|
44.4 |
% |
|
|
43.8 |
% |
|
|
42.8 |
% |
|
|
44.1 |
% |
|
|
41.6 |
% |
Reconciliation of GAAP to non-GAAP Operating Expenses |
|||||||||||||||||||
|
Three months ended |
|
Nine months ended |
||||||||||||||||
|
September 30,
|
|
June 30,
|
|
September 30,
|
|
September 30,
|
|
September 30,
|
||||||||||
Operating expenses |
$ |
7,078 |
|
|
$ |
7,839 |
|
|
$ |
8,528 |
|
|
$ |
23,173 |
|
|
$ |
25,386 |
|
Stock-based compensation expense |
|
(362 |
) |
|
|
(564 |
) |
|
|
(984 |
) |
|
|
(1,760 |
) |
|
|
(3,114 |
) |
Amortization of intangible assets |
|
(654 |
) |
|
|
(653 |
) |
|
|
(660 |
) |
|
|
(1,960 |
) |
|
|
(1,967 |
) |
Severance and exit costs |
|
6 |
|
|
|
(151 |
) |
|
|
- |
|
|
|
(280 |
) |
|
|
— |
|
Non-GAAP operating expenses |
$ |
6,068 |
|
|
$ |
6,471 |
|
|
$ |
6,884 |
|
|
$ |
19,173 |
|
|
$ |
20,305 |
|
Airgain, Inc. (in thousands, except per share data) (unaudited) |
|||||||||||||||||||
Reconciliation of GAAP to non-GAAP Net Income (Loss) |
|||||||||||||||||||
|
Three months ended |
|
Nine months ended |
||||||||||||||||
|
September 30,
|
|
June 30,
|
|
September 30,
|
|
September 30,
|
|
September 30,
|
||||||||||
Net loss |
$ |
(964 |
) |
|
$ |
(1,475 |
) |
|
$ |
(1,757 |
) |
|
$ |
(3,985 |
) |
|
$ |
(6,725 |
) |
Employee retention credit refund |
|
— |
|
|
|
(495 |
) |
|
|
— |
|
|
|
(1,989 |
) |
|
|
— |
|
Stock-based compensation expense |
|
380 |
|
|
|
603 |
|
|
|
1,081 |
|
|
|
1,890 |
|
|
|
3,334 |
|
Amortization of intangible assets |
|
742 |
|
|
|
742 |
|
|
|
749 |
|
|
|
2,226 |
|
|
|
2,233 |
|
Severance and exit costs |
|
(6 |
) |
|
|
151 |
|
|
|
— |
|
|
|
280 |
|
|
|
— |
|
Other income, net |
|
(15 |
) |
|
|
(56 |
) |
|
|
(28 |
) |
|
|
(158 |
) |
|
|
(81 |
) |
Income tax expense (benefit) |
|
10 |
|
|
|
14 |
|
|
|
(39 |
) |
|
|
48 |
|
|
|
(145 |
) |
Non-GAAP net income (loss) attributable to common stockholders |
$ |
147 |
|
|
$ |
(516 |
) |
|
$ |
6 |
|
|
$ |
(1,688 |
) |
|
$ |
(1,384 |
) |
|
|
|
|
|
|
|
|
|
|
||||||||||
Non-GAAP net income (loss) per share: |
|
|
|
|
|
|
|
|
|
||||||||||
Basic |
$ |
0.01 |
|
|
$ |
(0.04 |
) |
|
$ |
0.00 |
|
|
$ |
(0.14 |
) |
|
$ |
(0.13 |
) |
Diluted |
$ |
0.01 |
|
|
$ |
(0.04 |
) |
|
$ |
0.00 |
|
|
$ |
(0.14 |
) |
|
$ |
(0.13 |
) |
Weighted average shares used in calculating non-GAAP net income (loss) per share: |
|
|
|
|
|
|
|
|
|
||||||||||
Basic |
|
11,791 |
|
|
|
11,841 |
|
|
|
11,315 |
|
|
|
11,782 |
|
|
|
10,930 |
|
Diluted |
|
11,941 |
|
|
|
11,841 |
|
|
|
11,993 |
|
|
|
11,782 |
|
|
|
10,930 |
|
Reconciliation of Net Loss to Adjusted EBITDA |
|||||||||||||||||||
|
Three months ended |
|
Nine months ended |
||||||||||||||||
|
September 30,
|
|
June 30,
|
|
September 30,
|
|
September 30,
|
|
September 30,
|
||||||||||
Net loss |
$ |
(964 |
) |
|
$ |
(1,475 |
) |
|
$ |
(1,757 |
) |
|
$ |
(3,985 |
) |
|
$ |
(6,725 |
) |
Employee retention credit |
|
— |
|
|
|
(495 |
) |
|
|
— |
|
|
|
(1,989 |
) |
|
|
— |
|
Stock-based compensation expense |
|
380 |
|
|
|
603 |
|
|
|
1,081 |
|
|
|
1,890 |
|
|
|
3,334 |
|
Depreciation and amortization |
|
845 |
|
|
|
855 |
|
|
|
883 |
|
|
|
2,565 |
|
|
|
2,651 |
|
Severance and exit costs |
|
(6 |
) |
|
|
151 |
|
|
|
— |
|
|
|
280 |
|
|
|
— |
|
Other income, net |
|
(15 |
) |
|
|
(56 |
) |
|
|
(28 |
) |
|
|
(158 |
) |
|
|
(81 |
) |
Income tax expense (benefit) |
|
10 |
|
|
|
14 |
|
|
|
(39 |
) |
|
|
48 |
|
|
|
(145 |
) |
Adjusted EBITDA |
$ |
250 |
|
|
$ |
(403 |
) |
|
$ |
140 |
|
|
$ |
(1,349 |
) |
|
$ |
(966 |
) |
Q4-2025 Financial Outlook |
||||||||||
|
|
|
|
|
|
|
||||
Reconciliations of GAAP to Non-GAAP Gross Margin, Operating Expense, Net Loss, EPS and Adjusted EBITDA |
||||||||||
For the Three Months Ended December 31, 2025 |
||||||||||
(dollars in millions, except per share data) |
||||||||||
|
|
|
|
|
|
|
||||
Gross Margin Reconciliation: |
|
|
|
Operating Expense Reconciliation: |
|
|
||||
GAAP gross margin |
|
|
42.8 |
% |
|
GAAP operating expenses |
|
$ |
7.2 |
|
Stock-based compensation |
|
|
0.5 |
% |
|
Stock-based compensation |
|
$ |
(0.8 |
) |
Amortization |
|
|
0.7 |
% |
|
Amortization |
|
$ |
(0.6 |
) |
Non-GAAP gross margin |
|
|
44.0 |
% |
|
Non-GAAP operating expenses |
|
$ |
5.8 |
|
|
|
|
|
|
|
|
||||
Net Loss Reconciliation |
|
|
|
Net Loss per Share Reconciliation(1): |
|
|
||||
GAAP net loss |
|
$ |
(1.6 |
) |
|
GAAP net loss per share |
|
$ |
(0.13 |
) |
Stock-based compensation |
|
|
0.9 |
|
|
Stock-based compensation |
|
|
0.07 |
|
Amortization |
|
|
0.7 |
|
|
Amortization |
|
|
0.06 |
|
Non-GAAP net loss |
|
$ |
(0.0 |
) |
|
Non-GAAP net loss per share |
|
$ |
(0.0 |
) |
|
|
|
|
|
|
|
||||
Adjusted EBITDA Reconciliation |
|
|
|
|
|
|
||||
GAAP net loss |
|
$ |
(1.6 |
) |
|
|
|
|
||
Stock-based compensation |
|
|
0.9 |
|
|
|
|
|
||
Depreciation and amortization |
|
|
0.7 |
|
|
|
|
|
||
Interest income, net |
|
|
0.1 |
|
|
|
|
|
||
Adjusted EBITDA |
|
$ |
0.1 |
|
|
|
|
|
||
|
|
|
|
|
|
|
||||
(1) Amounts are based on 12.0 million basic weighted average shares outstanding |
||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20251112712570/en/
Airgain Contact
Michael Elbaz
Chief Financial Officer
investors@airgain.com
Airgain Investor Contact
Matt Glover
Gateway Group, Inc.
+1 949 574 3860
AIRG@gateway-grp.com
Source: Airgain, Inc.
