Airgain, Inc.
- Open
- 6.30
- Day high
- 6.46
- Day low
- 6.10
- Prev close
- 6.30
- Volume
- 6K
- Mkt cap
- $82M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 2.9
- P/S
- 1.6
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$86K over the last 3 months (0 open-market buys, 6 sales)
- 🏛Institutions reducing (13F)
Airgain, Inc. (AIRG) is a Technology company listed on NASDAQ. The stock is up 52% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 6 sales (SEC Form 4).
Airgain, Inc. (AIRG) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AIRG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $-0.08 | $-0.08 | +0.0% | $12M | +0.3% |
| Nov 12, 2025 | $0.01 | $0.01 | +0.0% | $14M | +9.3% |
| Feb 27, 2025 | $0.03 | $-0.11 | -466.7% | $15M | -7.7% |
| Mar 6, 2024 | $-0.21 | $-0.33 | -57.1% | $10M | +0.7% |
| Nov 9, 2023 | $-0.02 | $-0.06 | -166.7% | $14M | +37.0% |
| Aug 10, 2023 | $-0.09 | $-0.01 | +88.9% | $16M | -4.3% |
| May 11, 2023 | $-0.06 | $-0.08 | -33.3% | $16M | +0.0% |
| Mar 9, 2023 | $0.06 | $-0.11 | -283.3% | $20M | -2.8% |
| Nov 10, 2022 | $-0.14 | $0.06 | +142.9% | $19M | +2.0% |
| Aug 11, 2022 | $0.01 | $0.03 | +150.0% | $19M | +0.1% |
| Feb 24, 2022 | $-0.22 | $-0.23 | -4.5% | $14M | +1.0% |
| May 6, 2021 | $0.03 | $0.03 | +13.6% | $17M | +0.0% |
AIRG insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 2, 2026 | SUEN JACOBdirector, officer: President and CEO | Sell | 1,000 | $7.04 |
| May 15, 2026 | SUEN JACOBdirector, officer: President and CEO | Option | 4,573 | $1.90 |
| May 15, 2026 | SUEN JACOBdirector, officer: President and CEO | Sell | 4,573 | $6.51 |
| May 14, 2026 | Elbaz Michaelofficer: Chief Financial Officer | Sell | 1,487 | $6.98 |
| May 14, 2026 | Elbaz Michaelofficer: Chief Financial Officer | Sell | 3,787 | $6.77 |
| May 5, 2026 | SUEN JACOBdirector, officer: President and CEO | Sell | 1,000 | $7.03 |
| Apr 21, 2026 | Sadri Aliofficer: Former CTO | Sell | 1,000 | $6.21 |
| Apr 2, 2026 | SUEN JACOBdirector, officer: President and CEO | Sell | 1,000 | $5.51 |
| Mar 24, 2026 | SUEN JACOBdirector, officer: President and CEO | Sell | 37,314 | $4.12 |
| Mar 24, 2026 | Sadri Aliofficer: Chief Technology Officer | Sell | 13,638 | $4.12 |
| Mar 24, 2026 | SUEN JACOBdirector, officer: President and CEO | Sell | 1,000 | $5.00 |
| Mar 24, 2026 | Elbaz Michaelofficer: Chief Financial Officer | Sell | 12,769 | $4.12 |
| Mar 24, 2026 | Sadri Aliofficer: Chief Technology Officer | Sell | 1,000 | $5.00 |
| Mar 17, 2026 | SUEN JACOBdirector, officer: President and CEO | Grant | 82,275 | $4.02 |
| Mar 17, 2026 | SUEN JACOBdirector, officer: President and CEO | Grant | 25,653 | — |
Source: AIRG SEC Form 4 filings, latest Jun 2, 2026. For informational purposes only — not investment advice.
See the full AIRG insider & 13F page →Airgain, Inc. company profile
Overview
Airgain, Inc. (NASDAQ:AIRG) is a San Diego-based antenna and wireless connectivity solutions company founded in 1995. Originally incorporated as AM Group, the company changed its name to Airgain in 2004 and went public in August 2016. Over nearly three decades, Airgain has evolved from a traditional antenna component manufacturer to a comprehensive wireless systems solutions provider, serving original equipment manufacturers, chipset vendors, service providers, and enterprise customers worldwide across consumer, automotive, and enterprise markets.
Business
Airgain operates in the wireless communications equipment industry, specializing in antenna design and integrated wireless connectivity solutions. The company's core business revolves around enabling reliable wireless communications across multiple frequency bands and protocols including Wi-Fi, 5G, LTE, and IoT connectivity standards. The company's product portfolio spans three main categories. Traditional embedded antennas include MaxBeam, SmartMax, and various profile antennas that are integrated directly into customer devices like routers, gateways, and automotive systems. These antennas enable wireless connectivity in consumer electronics, enterprise networking equipment, and vehicles. Integrated wireless solutions represent the company's strategic evolution, encompassing complete connectivity systems rather than just antenna components. Key products include AirgainConnect Fleet (a 5G vehicle gateway system), Lighthouse Smart Network Control (a network repeater that extends cellular coverage), and Lantern (an outdoor 5G fixed wireless access solution). Asset tracking solutions leverage IoT connectivity to monitor and locate equipment across industries like healthcare, transportation, and logistics. Revenue distribution across market segments shows: Consumer market approximately 43% (primarily Wi-Fi router and gateway antennas for cable operators and internet service providers), Enterprise market around 35% (networking equipment, IoT devices, and connectivity solutions), and Automotive market roughly 22% (vehicle connectivity antennas and telematics systems). The company has been strategically shifting toward higher-value integrated solutions to expand its addressable market from $1.1 billion in traditional antennas to $2.6 billion in comprehensive wireless systems.
Revenue model
Airgain generates revenue primarily through product sales of antennas and wireless connectivity systems to original equipment manufacturers and system integrators. The company operates a fabless business model, designing products in-house while outsourcing manufacturing to nine contract manufacturers globally. This approach allows for flexible scaling and cost optimization while maintaining focus on engineering and customer relationships. Revenue streams include: 1. Direct product sales to OEMs who integrate Airgain's antennas into their devices, 2. System-level solutions sales where Airgain provides complete connectivity platforms rather than individual components, 3. Licensing and development services for custom antenna designs. The company's customers include major cable operators (MSOs), mobile network operators (MNOs), automotive manufacturers, enterprise networking companies, and IoT device makers. Factors that positively impact margins include the ongoing transition from traditional antenna components to higher-value integrated systems, adoption of newer wireless standards like Wi-Fi 7 and 5G which command premium pricing, and the company's focus on specialized applications requiring custom engineering. The shift toward system-level solutions allows Airgain to capture more value per customer engagement compared to commodity antenna sales. Margin pressures arise from competitive pricing in commodity antenna markets, supply chain cost fluctuations affecting contract manufacturing, inventory corrections by customers during economic uncertainty, and the need for continuous R&D investment to stay current with rapidly evolving wireless standards. The company's gross margins have shown improvement, reaching 44.3% in Q1 2025, reflecting the strategic shift toward higher-value products and better product mix optimization.
Competitive moat
Airgain's competitive moat is moderate and primarily based on specialized engineering expertise and customer relationships rather than strong structural advantages. The company's key differentiators include deep RF (radio frequency) engineering capabilities, extensive experience across multiple wireless protocols and frequency bands, and established relationships with major telecommunications operators and OEMs. The complexity of antenna design for specific applications creates some switching costs, as customers invest significant time in design validation and certification processes. However, the moat is not particularly strong. The antenna industry is highly competitive with numerous players ranging from large multinational corporations to specialized component suppliers. Barriers to entry are relatively low for basic antenna products, though they increase for complex, custom-designed solutions. The company faces competition from established players like Laird Connectivity, Taoglas, and larger diversified electronics companies that can leverage economies of scale. The company's strategic pivot toward integrated wireless systems represents an attempt to strengthen its competitive position by moving up the value chain. Solutions like Lighthouse network repeaters and AirgainConnect Fleet systems require more specialized expertise and create stronger customer relationships than commodity antennas. However, this transition also brings Airgain into competition with larger networking and telecommunications equipment providers who have greater resources and market presence. The success of this strategy remains to be proven, as the company is still in early stages of commercializing these higher-value solutions.
Risks & safety
Airgain presents a moderate margin of safety profile with mixed financial health indicators. • **Liquidity position**: Current ratio of 2.11 and quick ratio of 1.78 indicate adequate short-term liquidity, with $7.4 million in cash and short-term investments as of Q1 2025 • **Debt levels**: Low debt-to-equity ratio of 0.15 suggests minimal financial leverage and solvency risk • **Cash burn**: Negative free cash flow of -$1.1 million in Q1 2025, though improving from -$3.7 million in FY 2024 • **Profitability**: Company remains unprofitable with negative EBITDA, though management targets positive adjusted EBITDA by Q3 2025 • **Valuation metrics**: Trading at negative P/E due to losses, EV/EBITDA of -4.1x, and price-to-book of 1.29x • **Other considerations**: Small market cap of $47 million creates liquidity risk, volatile quarterly results, and execution risk around strategic transformation to higher-value solutions
Recent development
Over the past few years, Airgain has undergone a significant strategic transformation from a traditional antenna component supplier to an integrated wireless solutions provider. This pivot began in earnest around 2022-2023 as the company recognized the need to move beyond commodity antenna sales toward higher-value system-level offerings. Key product launches include the AirgainConnect Fleet platform, a comprehensive 5G vehicle gateway system that has achieved carrier certifications with major U.S. wireless providers and secured AT&T FirstNet capability status. The company has over 40 customer trials ongoing for this solution, with commercial deployments expected in the second half of 2025. The Lighthouse Smart Network Control system represents another major initiative - a network repeater that extends cellular coverage in challenging environments. Airgain secured its first commercial deployment through a strategic partnership with Omantel in the Middle East, with plans for 50+ site deployments in 2025. The company also launched Lighthouse Solar, a self-sustaining solar-powered version of the repeater. In the asset tracking space, Airgain introduced AI-powered solutions including the AT-Flight system for healthcare applications and railcar tracking systems for the transportation industry. The company has also been positioning itself for the Wi-Fi 7 transition, securing design wins with Tier 1 cable operators and beginning commercial shipments of Wi-Fi 7 antenna systems. Organizationally, the company has restructured its sales approach around vertical markets and built dedicated sales teams for its new solution platforms. This strategic shift has expanded Airgain's addressable market from $1.1 billion in traditional antennas to $2.6 billion in integrated wireless systems, though the company is still in the early stages of monetizing these new opportunities.
AIRG company profile · for informational purposes only — not investment advice.
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