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Airgain cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$1.8M in Q2 2026 · −$3.0M over twelve months

Operating cash flow−$1.8M
Capital spending−$35K
Free cash flow−$1.8M
Cash conversion cycle46 days

Analysis

In Q2 2026, Airgain generated −$1.8M of operating cash flow and spent $35K on capital projects, leaving free cash flow of −$1.8M. That is $1.9M less than in Q2 2025 ($113K).

Over the twelve months to Jun 30, 2026, operating cash flow was −$2.8M; the largest uses were operating cash flow ($2.8M), other investing ($223K), capital spending ($198K); besides operations, cash came from shares issued ($2.0M), other financing ($1.1M); the cash balance fell by $67K.

Operating cash flow was −$1.8M against net income of −$1.7M. The largest differences: receivables −$3.2M, accrued liabilities +$1.4M, payables +$959K.

Its cash conversion cycle was 46 days (receivables 85 + inventory 47 − payables 87).

Free cash flow

Airgain: free cash flow by quarterAirgain: free cash flow by quarter−$1.2MQ3 2024−$27KQ4 2024−$1.1MQ1 2025$113KQ2 2025−$418KQ3 2025$93KQ4 2025−$814KQ1 2026−$1.8MQ2 2026
Operating cash flow less capital spending.
Airgain: operating cash flow against capital spendingAirgain: operating cash flow against capital spendingOperating cash flowCapital spending−$1.2M$27KQ3 2024−$26K$1KQ4 2024−$1.0M$42KQ1 2025$129K$16KQ2 2025−$411K$7KQ3 2025$194K$101KQ4 2025−$759K$55KQ1 2026−$1.8M$35KQ2 2026
Latest (Q2 2026): Operating cash flow −$1.8M, Capital spending $35K.

Capital allocation, year by year

Airgain: where the cash came from (up) and went (down), by fiscal yearAirgain: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$11.2MFY2021: Shares issued $5.0MFY2021: Capital spending −$736KFY2021: Acquisitions −$14.2MFY2021: Buybacks −$97K$5.0MFY2021FY2022: Operating cash flow $4.4MFY2022: Shares issued $249KFY2022: Capital spending −$763K$4.7MFY2022FY2023: Operating cash flow −$3.3MFY2023: Shares issued $232KFY2023: Capital spending −$346K$232KFY2023FY2024: Operating cash flow −$3.5MFY2024: Shares issued $279KFY2024: Capital spending −$178K$279KFY2024FY2025: Operating cash flow −$1.1MFY2025: Shares issued $374KFY2025: Capital spending −$166K$374KFY2025
Over these 5 years operating cash flow totalled −$14.7M; the largest uses were operating cash flow ($19.1M) and acquisitions ($14.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$7.6M
Debtnone
Net cash$7.6M
Cash runway2.6 years

Airgain is burning cash: its operations consume cash, a free cash flow of −$3.0M a year at the current rate against $7.6M of cash and investments: a runway of about 2.6 years before any new financing.

Where the cash came from and went

Airgain: sources (+) and uses (−) of cash, Q2 2026Airgain: sources (+) and uses (−) of cash, Q2 2026Shares issued$2.2MOperating cash flow−$1.8MCash drawn (+) / kept (−)−$429KOther investing$88KCapital spending−$35KExchange rates$6K
Airgain: sources (+) and uses (−) of cash, TTM to Q2 2026Airgain: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow−$2.8MShares issued$2.0MOther financing$1.1MOther investing−$223KCapital spending−$198KCash drawn (+) / kept (−)$67KExchange rates$5K

From profit to cash

Airgain: net income to operating cash flow, Q2 2026Airgain: net income to operating cash flow, Q2 2026Net income−$1.7MDepreciation & amortization$300KStock-based pay$895KDeferred taxes−$1KGains on disposals$57KReceivables−$3.2MInventory−$121KPayables$959KAccrued liabilities$1.4MEmployee-related liabilities−$233KPrepaid and other assets−$64KOperating cash flow−$1.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202685478746
Q1 2026945311235
Q4 2025975011829
Q3 202581438737
Q2 202577448734
Q1 2025865111423
Q4 202472358917
Q3 202458286522

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$1.8M−$35K$2.2M−$429K−$1.8M
Q1 2026−$759K−$55K$722K$176K−$814K
Q4 2025$194K−$101K$374K−$267K$93K
Q3 2025−$411K−$7K$67K$587K−$418K
Q2 2025$129K−$16K$160K−$277K$113K
Q1 2025−$1.0M−$42K$148K$1.1M−$1.1M
Q4 2024−$26K−$1K−$2.7M−$1.2M−$27K
Q3 2024−$1.2M−$27K$86K$1.1M−$1.2M

Airgain: income statement and cash flow

Airgain, Q2 2026: revenue $13.7M (+0.6% year over year), operating margin -12.3%. The chart follows the revenue to costs, profit and cash.

Airgain: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.