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Airgain (AIRG) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 5, 2026 · Airgain (AIRG) Q2 2026 earnings results →

Q2 2026 Revenue up 1% year over year to $13.7M · 12¢ of every $1 of revenue lost · operating margin -12.3%

Airgain made $13.7M in Q2 2026 (+0.6% Y/Y). Operating margin -12.3%, net loss $1.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 5, 2026.

Revenue$13.7M
Year over year+0.6%
Operating margin-12.3%
Net earnings−$1.7M
Operating cash flow−$1.8M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $13.7M in Q2 2026, up 1% year over year and up 19% from the previous quarter.

Gross margin was 42.3%, down 0.6 points from Q2 2025. Operating costs exceeded revenue by $1.7M, an operating margin of -12.3%. Operating expenses fell 5% while revenue rose 1%. The fastest-growing cost line was Research & development (+13%). The quarter ended with a net loss of $1.7M, narrower than the previous quarter's $1.9M loss.

Operating cash flow was −$1.8M. Non-cash charges added back $300K of depreciation and amortization and $895K of share-based compensation. Working capital and other items used $1.3M. Capital expenditures of $35K exceeded it, leaving free cash flow of −$1.8M.

Quarterly history

Airgain revenue by quarterAirgain revenue by quarter$15.1MQ4 2024$12.0MQ1 2025$13.6MQ2 2025$14.0MQ3 2025$12.1MQ4 2025$11.5MQ1 2026$13.7MQ2 2026
Airgain net earnings by quarterAirgain net earnings by quarter−$2.0MQ4 2024−$1.5MQ1 2025−$1.5MQ2 2025−$964KQ3 2025−$2.4MQ4 2025−$1.9MQ1 2026−$1.7MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 5, 2026$13.7M+0.6%-12.3%−$1.7M−$1.8M
Q1 202610-QMay 6, 2026$11.5M-4%-18.4%−$1.9M−$759K
Q4 202510-KFeb 26, 2026$12.1M-20%-20.0%−$2.4M$194K
Q3 202510-QNov 12, 2025$14.0M-13%-6.9%−$964K−$411K
Q2 202510-QAug 6, 2025$13.6M-10%-14.7%−$1.5M$129K
Q1 202510-QMay 7, 2025$12.0M-16%-25.8%−$1.5M−$1.0M
Q4 202410-KFeb 27, 2025$15.1M+50%-13.1%−$2.0M−$26K

Charts

Airgain: revenue growth, year over year and quarter over quarterAirgain: revenue growth, year over year and quarter over quarterY/YQ/Q+50%Q4 2024-16%-20%Q1 2025-10%+13%Q2 2025-13%+3%Q3 2025-20%-14%Q4 2025-4%-5%Q1 2026+1%+19%Q2 2026
Latest (Q2 2026): Y/Y +1%, Q/Q +19%.
Airgain: where the cash came from (+) and went (−), TTM to Q2 2026Airgain: where the cash came from (+) and went (−), TTM to Q2 2026Operating cash flow−$2.8MShares issued$2.0MOther financing$1.1MOther investing−$223KCapital spending−$198KCash drawn (+) / kept (−)$67KExchange rates$5K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Airgain: profit against cash, quarter by quarterAirgain: profit against cash, quarter by quarterNet incomeOperating cash flow−$1.8M−$1.2MQ3 2024−$2.0M−$26KQ4 2024−$1.5M−$1.0MQ1 2025−$1.5M$129KQ2 2025−$964K−$411KQ3 2025−$2.4M$194KQ4 2025−$1.9M−$759KQ1 2026−$1.7M−$1.8MQ2 2026
Latest (Q2 2026): Net income −$1.7M, Operating cash flow −$1.8M.
Airgain: diluted shares by fiscal yearAirgain: diluted shares by fiscal year10MFY202010MFY202110MFY202210MFY202311MFY202412MFY2025
+21.9% since FY2020: more shares outstanding (issuance, stock pay).
Airgain in its industry: growth against margin (18 companies, SIC 3663)Airgain in its industry: growth against margin (18 companies, SIC 3663)revenue growth, year over year →↑ operating marginmedian +40%median 2%QCOMMSIUIVISNHLITAVNWPLCMTLONDSBKSYBKTISATLUMACKUSTWATTCRVWVUZIAIRG (+1%, -12%)
Radio & Tv Broadcasting & Communications Equipment; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Airgain

Headquartered in San Diego, California, Airgain, Inc. (NASDAQ: AIRG) is a leading provider of advanced wireless connectivity solutions. We are focused on delivering high-performance, cost-effective, and energy-efficient wireless solutions that enable rapid market deployment. Our mission is to connect the world through integrated, innovative, and optimized wireless solutions. Our diverse product portfolio serves three primary markets: enterprise, automotive, and consumer. While historically recognized for high-performance radio frequency (RF) components, Airgain is increasingly delivering integrated, system-level connectivity solutions that combine hardware, software and cloud management.

In its own words, from its 10-K, filed Feb 26, 2026.

Airgain against its Radio & Tv Broadcasting & Communications Equipment peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.6% against the peers' median +5%. Operating margin: -12.3% against the peers' median 7.2%.

CompanyQuarterRevenueY/YOp. margin
AIRG AirgainQ2 2026$13.7M+0.6%-12.3%
QCOM QualcommQ4 FY26$10.3B-8%13.1%
MSI Motorola SolutionsQ3 2026$3.4B+12%23.0%
UI UbiquitiQ1 FY27$1.0B+40%38.1%
VISN Vistance NetworksQ3 2026$320M-38%7.2%
HLIT HarmonicQ3 2026$149M+64%17.6%
AVNW Aviat NetworksQ4 FY26$121M+5%4.8%
PL Planet Labs PBCQ2 FY27$116M+58%-11.6%
CMTL Comtech TelecommunicationsQ3 FY26$106M-16%-2.9%

Source: Airgain 10-Q on SEC EDGAR · CIK 1272842 · Radio & Tv Broadcasting & Communications Equipment

13F: who owns AIRG and who is buying

Largest holders of AIRG (13F)Largest holders of AIRG (13F)Ameriprise Financial$4.8MFirst Eagle Investment Management…$4.3MBlair William$3.9MVanguard Capital Management LLC$3.0MRenaissance Technologies LLC$2.6MVanguard Group$2.1MNano CAP New Millennium Growth Fu…$1.4MBlackRock$1.4MAcadian Asset Management LLC$1.1MMarshall Wace, LLP$943K
Funds' net buying of AIRG by quarter (13F)Funds' net buying of AIRG by quarter (13F)−$698K2024-09−$277K2024-12−$1.0M2025-03−$524K2025-06$93K2025-09−$891K2025-12−$998K2026-03$6.0M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on AIRG

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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