Airgain® Reports Fourth Quarter and Full Year 2025 Financial Results
"Throughout 2025, we made meaningful progress advancing our growth platforms, AirgainConnect and Lighthouse, completing key certifications, expanding customer trials, and strengthening our go-to-market foundation,” said
Fourth Quarter 2025 and Recent Operational Highlights
-
In
February 2026 , acquired HPUE product line assets fromNextivity , strengthening Airgain’s system-level connectivity portfolio - Expanded and diversified the AC-Fleet opportunity pipeline, with approximately half of Tier 1 and Tier 2 opportunities outside of first responder end markets
-
Successfully completed Lighthouse trials with a Tier 1 U.S. mobile network operator and a top five global tower operator in
Latin America -
Established the Company’s first
U.S. commercial integrator partnership to support Lighthouse deployments -
Engaged former President of AT&T Global Business Solutions
Frank Jules as Strategic Advisor to the CEO, with a focus on strengthening enterprise and carrier go-to-market engagement
Fourth Quarter 2025 Financial Highlights
GAAP
-
Sales of
$12.1 million - GAAP gross margin of 44.8%
-
GAAP operating expenses of
$7.9 million -
GAAP net loss of
$2.4 million or$(0.20) per share
Non-GAAP
- Non-GAAP gross margin of 46.3%
-
Non-GAAP operating expenses of
$5.9 million -
Non-GAAP net loss of
$0.3 million or$(0.03) per share -
Adjusted EBITDA of
($0.2) million
Fourth Quarter 2025 Financial Results
Sales for the fourth quarter of 2025 were
GAAP gross profit for the fourth quarter of 2025 was
GAAP gross margin for the fourth quarter of 2025 was 44.8%, compared to 43.6% for the third quarter of 2025 and 42.2% for the same quarter a year ago. The increase in gross margin compared to the third quarter of 2025 was primarily due to a higher consumer product margin and operational efficiencies. The increase in gross margin compared to the same quarter a year ago was primarily due to improved enterprise and consumer product margins. Non-GAAP gross margin for the fourth quarter of 2025 was 46.3% compared to 44.4% for the third quarter of 2025 and 43.4% for the same quarter a year ago (see note regarding "Use of Non-GAAP Financial Measures" below for further discussion of this non-GAAP measure).
GAAP operating expenses for the fourth quarter of 2025 were
GAAP net loss for the fourth quarter of 2025 was
Adjusted EBITDA for the fourth quarter of 2025 was
Full Year 2025 Financial Highlights
GAAP
-
Sales of
$51.8 million - GAAP gross margin of 43.5%
-
GAAP operating expenses of
$31.0 million -
GAAP net loss of
$6.4 million or ($0.54 ) per share
Non-GAAP
- Non-GAAP gross margin of 44.6%
-
Non-GAAP operating expenses of
$25.1 million -
Non-GAAP net loss of
$2.0 million or ($0.17 ) per share -
Adjusted EBITDA of
($1.5) million
Full Year 2025 Financial Results
Sales for the full year of 2025 were
GAAP gross profit for the full year of 2025 was
GAAP gross margin for the full year of 2025 was 43.5%, compared to 40.9% in 2024. The increase in gross margin in 2025 was primarily driven by improved enterprise and consumer product margins and operational efficiencies. Non-GAAP gross margin for the full year of 2025 was 44.6%, compared to 42.0% in 2024 (see note regarding "Use of Non-GAAP Financial Measures" below for further discussion of this non-GAAP measure).
GAAP operating expenses for the full year of 2025 were
GAAP net loss for 2025 was
Adjusted EBITDA for the full year of 2025 was
First Quarter 2026 Financial Outlook
GAAP
-
Sales are expected to be in the range of
$10.5 million to$12.5 million , or$11.5 million at the midpoint - GAAP gross margin is expected to be in the range of 42.3% to 45.3%
-
GAAP operating expense is expected to be approximately
$7.1 million -
GAAP net loss per share is expected to be
$(0.17) at the midpoint
Non-GAAP
- Non-GAAP gross margin is expected to be in the range of 43.5% to 46.5%
-
Non-GAAP operating expense is expected to be approximately
$6.0 million -
Non-GAAP net loss per share is expected to be
$(0.07) at the midpoint -
Adjusted EBITDA is expected to be
$(0.7) million at the midpoint
The Company's financial outlook for the three months ending
Conference Call
Management will hold a conference call on
Management will host the presentation, followed by a question-and-answer period.
Date:
Time:
Dial-In: 877-407-2988 or 201-389-0923 or Call Me
Confirmation #: 13757859
The conference call will be broadcast simultaneously and be available for replay via the investor section of the company’s website at investors.airgain.com.
For webcast access, please follow the web address below to register for the conference call.
Registration: Here
A replay of the webcast will be available via the registration link after
About
Headquartered in
Forward-Looking Statements
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.
|
Consolidated Balance Sheets (in thousands, except par value) (unaudited) |
||||||||
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|
|
As of |
||||||
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|
|
|
2025 |
|
|
|
2024 |
|
|
Assets |
|
|
|
|
||||
|
Current assets: |
|
|
|
|
||||
|
Cash and cash equivalents |
|
$ |
7,358 |
|
|
$ |
8,510 |
|
|
Trade accounts receivable, net |
|
|
12,775 |
|
|
|
11,671 |
|
|
Inventories |
|
|
3,580 |
|
|
|
3,952 |
|
|
Prepaid expenses |
|
|
868 |
|
|
|
1,166 |
|
|
Other current assets |
|
|
1,177 |
|
|
|
532 |
|
|
Total current assets |
|
|
25,758 |
|
|
|
25,831 |
|
|
Property and equipment, net |
|
|
1,696 |
|
|
|
1,993 |
|
|
Operating lease right-of-use assets |
|
|
4,166 |
|
|
|
3,901 |
|
|
|
|
|
10,845 |
|
|
|
10,845 |
|
|
Intangible assets, net |
|
|
2,787 |
|
|
|
5,799 |
|
|
Other assets |
|
|
85 |
|
|
|
74 |
|
|
Total assets |
|
$ |
45,337 |
|
|
$ |
48,443 |
|
|
Liabilities and stockholders’ equity |
|
|
|
|
||||
|
Current liabilities: |
|
|
|
|
||||
|
Accounts payable |
|
$ |
9,214 |
|
|
$ |
9,499 |
|
|
Accrued compensation |
|
|
1,157 |
|
|
|
2,041 |
|
|
Accrued liabilities and other |
|
|
1,790 |
|
|
|
1,872 |
|
|
Short-term lease liabilities |
|
|
821 |
|
|
|
89 |
|
|
Total current liabilities |
|
|
12,982 |
|
|
|
13,501 |
|
|
Deferred tax liability |
|
|
186 |
|
|
|
163 |
|
|
Long-term lease liabilities |
|
|
3,880 |
|
|
|
3,810 |
|
|
Total liabilities |
|
|
17,048 |
|
|
|
17,474 |
|
|
Commitments and contingencies |
|
|
|
|
||||
|
Stockholders’ equity: |
|
|
|
|
||||
|
Common stock and additional paid-in capital, par value |
|
|
127,292 |
|
|
|
123,546 |
|
|
|
|
|
(5,364 |
) |
|
|
(5,364 |
) |
|
Accumulated deficit |
|
|
(93,635 |
) |
|
|
(87,209 |
) |
|
Accumulated other comprehensive (loss) income |
|
|
(4 |
) |
|
|
(4 |
) |
|
Total stockholders’ equity |
|
|
28,289 |
|
|
|
30,969 |
|
|
Total liabilities and stockholders’ equity |
|
$ |
45,337 |
|
|
$ |
48,443 |
|
|
Consolidated Statements of Operations (in thousands, except per share data) (unaudited) |
||||||||||||||||||||
|
|
|
Three Months Ended |
|
|
||||||||||||||||
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|
|
|
|
|
|
|
Years Ended
|
||||||||||||
|
|
|
|
2025 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
Sales |
|
$ |
12,125 |
|
|
$ |
14,018 |
|
|
$ |
15,083 |
|
|
$ |
51,779 |
|
|
$ |
60,599 |
|
|
Cost of goods sold |
|
|
6,690 |
|
|
|
7,907 |
|
|
|
8,719 |
|
|
|
29,234 |
|
|
|
35,797 |
|
|
Gross profit |
|
|
5,435 |
|
|
|
6,111 |
|
|
|
6,364 |
|
|
|
22,545 |
|
|
|
24,802 |
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Research and development |
|
|
2,350 |
|
|
|
2,141 |
|
|
|
2,773 |
|
|
|
9,542 |
|
|
|
11,864 |
|
|
Sales and marketing |
|
|
2,298 |
|
|
|
2,144 |
|
|
|
2,301 |
|
|
|
9,325 |
|
|
|
9,203 |
|
|
General and administrative |
|
|
3,207 |
|
|
|
2,793 |
|
|
|
3,270 |
|
|
|
12,161 |
|
|
|
12,663 |
|
|
Total operating expenses |
|
|
7,855 |
|
|
|
7,078 |
|
|
|
8,344 |
|
|
|
31,028 |
|
|
|
33,730 |
|
|
Loss from operations |
|
|
(2,420 |
) |
|
|
(967 |
) |
|
|
(1,980 |
) |
|
|
(8,483 |
) |
|
|
(8,928 |
) |
|
Other income (expense): |
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Employee retention credit refund |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,989 |
|
|
|
— |
|
|
Interest income, net |
|
|
17 |
|
|
|
13 |
|
|
|
(33 |
) |
|
|
351 |
|
|
|
115 |
|
|
Other (expense), net |
|
|
(13 |
) |
|
|
— |
|
|
|
23 |
|
|
|
(210 |
) |
|
|
(27 |
) |
|
Total other income, net |
|
|
4 |
|
|
|
13 |
|
|
|
(10 |
) |
|
|
2,130 |
|
|
|
88 |
|
|
Loss before income taxes |
|
|
(2,416 |
) |
|
|
(954 |
) |
|
|
(1,970 |
) |
|
|
(6,353 |
) |
|
|
(8,840 |
) |
|
Income tax expense (benefit) |
|
|
25 |
|
|
|
10 |
|
|
|
(7 |
) |
|
|
73 |
|
|
|
(152 |
) |
|
Net loss |
|
$ |
(2,441 |
) |
|
$ |
(964 |
) |
|
$ |
(1,963 |
) |
|
$ |
(6,426 |
) |
|
$ |
(8,688 |
) |
|
Net loss per share: |
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Basic |
|
$ |
(0.20 |
) |
|
$ |
(0.08 |
) |
|
$ |
(0.17 |
) |
|
$ |
(0.54 |
) |
|
$ |
(0.79 |
) |
|
Diluted |
|
$ |
(0.20 |
) |
|
$ |
(0.08 |
) |
|
$ |
(0.17 |
) |
|
$ |
(0.54 |
) |
|
$ |
(0.79 |
) |
|
Weighted average shares used in calculating loss per share: |
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Basic |
|
|
12,013 |
|
|
|
11,791 |
|
|
|
11,416 |
|
|
|
11,840 |
|
|
|
11,053 |
|
|
Diluted |
|
|
12,013 |
|
|
|
11,791 |
|
|
|
11,416 |
|
|
|
11,840 |
|
|
|
11,053 |
|
|
Consolidated Statements of Cash Flows (in thousands) (unaudited) |
||||||||
|
|
||||||||
|
|
|
For the Years Ended
|
||||||
|
|
|
|
2025 |
|
|
|
2024 |
|
|
Cash flows from operating activities: |
|
|
|
|
||||
|
Net loss |
|
$ |
(6,426 |
) |
|
$ |
(8,688 |
) |
|
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
||||
|
Depreciation |
|
|
463 |
|
|
|
548 |
|
|
Amortization of intangible assets |
|
|
3,235 |
|
|
|
3,029 |
|
|
Stock-based compensation |
|
|
2,964 |
|
|
|
4,635 |
|
|
Deferred tax liability |
|
|
23 |
|
|
|
11 |
|
|
Amortization of prepaid assets |
|
|
— |
|
|
|
132 |
|
|
Changes in operating assets and liabilities: |
|
|
|
|
||||
|
Trade accounts receivable |
|
|
(1,104 |
) |
|
|
(4,297 |
) |
|
Inventories |
|
|
372 |
|
|
|
(1,549 |
) |
|
Prepaid expenses and other current assets |
|
|
(346 |
) |
|
|
(316 |
) |
|
Other assets |
|
|
(12 |
) |
|
|
96 |
|
|
Accounts payable |
|
|
(285 |
) |
|
|
2,928 |
|
|
Accrued compensation |
|
|
(508 |
) |
|
|
668 |
|
|
Accrued liabilities and other |
|
|
(26 |
) |
|
|
(576 |
) |
|
Lease liabilities |
|
|
537 |
|
|
|
(148 |
) |
|
Net cash used in operating activities |
|
|
(1,113 |
) |
|
|
(3,527 |
) |
|
Cash flows from investing activities: |
|
|
|
|
||||
|
Purchases of property and equipment |
|
|
(166 |
) |
|
|
(178 |
) |
|
Purchases of intellectual property |
|
|
(223 |
) |
|
|
— |
|
|
Net cash used in investing activities |
|
|
(389 |
) |
|
|
(178 |
) |
|
Cash flows from financing activities: |
|
|
|
|
||||
|
Proceeds from at-the-market common stock offering, net of offering costs |
|
|
167 |
|
|
|
4,116 |
|
|
Payments for withholding taxes related to net share settlement of equity awards |
|
|
(191 |
) |
|
|
(94 |
) |
|
Issuance of shares for stock purchase and option plans |
|
|
374 |
|
|
|
279 |
|
|
Net cash provided by financing activities |
|
|
350 |
|
|
|
4,301 |
|
|
|
|
|
|
|
||||
|
Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash |
|
|
— |
|
|
|
(7 |
) |
|
|
|
|
|
|
||||
|
Net (decrease) increase in cash, cash equivalents and restricted cash |
|
|
(1,152 |
) |
|
|
589 |
|
|
Cash, cash equivalents, and restricted cash; beginning of period |
|
|
8,565 |
|
|
|
7,976 |
|
|
Cash, cash equivalents, and restricted cash; end of period |
|
$ |
7,413 |
|
|
$ |
8,565 |
|
|
(in thousands) (unaudited) |
|||||||||||||||
|
Sales by Target Market |
|||||||||||||||
|
|
|
Three Months Ended |
|
|
|||||||||||
|
|
|
|
|
|
|
|
|
Years Ended
|
|||||||
|
Target Market |
|
2025 |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|||||
|
Consumer |
|
$ |
7,373 |
|
$ |
6,658 |
|
$ |
6,499 |
|
$ |
26,082 |
|
$ |
21,691 |
|
Enterprise |
|
|
4,277 |
|
|
6,870 |
|
|
5,338 |
|
|
22,640 |
|
|
29,497 |
|
Automotive |
|
|
475 |
|
|
490 |
|
|
3,246 |
|
|
3,057 |
|
|
9,411 |
|
Total sales |
|
$ |
12,125 |
|
$ |
14,018 |
|
$ |
15,083 |
|
$ |
51,779 |
|
$ |
60,599 |
|
Reconciliation of GAAP to Non-GAAP Gross Profit |
||||||||||||||
|
|
Three Months Ended |
|
|
|||||||||||
|
|
|
|
|
|
|
|
Years Ended
|
|||||||
|
|
2025 |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|||||
|
Gross profit |
$ |
5,435 |
|
$ |
6,111 |
|
$ |
6,364 |
|
$ |
22,545 |
|
$ |
24,802 |
|
Stock-based compensation |
|
86 |
|
|
18 |
|
|
91 |
|
|
216 |
|
|
311 |
|
Amortization of intangible assets |
|
89 |
|
|
88 |
|
|
89 |
|
|
355 |
|
|
355 |
|
Non-GAAP gross profit |
$ |
5,610 |
|
$ |
6,217 |
|
$ |
6,544 |
|
$ |
23,116 |
|
$ |
25,468 |
|
Reconciliation of GAAP to Non-GAAP Gross Margin |
||||||||||||||
|
|
Three Months Ended |
|
|
|||||||||||
|
|
|
|
|
|
|
|
Years Ended
|
|||||||
|
|
2025 |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|||||
|
Gross margin |
|
44.8% |
|
|
43.6% |
|
|
42.2% |
|
|
43.5% |
|
|
40.9% |
|
Stock-based compensation |
|
0.7% |
|
|
0.2% |
|
|
0.6% |
|
|
0.4% |
|
|
0.5% |
|
Amortization of intangible assets |
|
0.8% |
|
|
0.6% |
|
|
0.6% |
|
|
0.7% |
|
|
0.6% |
|
Non-GAAP gross margin |
|
46.3% |
|
|
44.4% |
|
|
43.4% |
|
|
44.6% |
|
|
42.0% |
|
Reconciliation of GAAP to Non-GAAP Operating Expenses |
|||||||||||||||||||
|
|
Three Months Ended |
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
Years Ended
|
||||||||||||
|
|
|
2025 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
Operating expenses |
$ |
7,855 |
|
|
$ |
7,078 |
|
|
$ |
8,344 |
|
|
$ |
31,028 |
|
|
$ |
33,730 |
|
|
Stock-based compensation expense |
|
(988 |
) |
|
|
(362 |
) |
|
|
(1,210 |
) |
|
|
(2,748 |
) |
|
|
(4,324 |
) |
|
Amortization of intangible assets |
|
(920 |
) |
|
|
(654 |
) |
|
|
(646 |
) |
|
|
(2,880 |
) |
|
|
(2,613 |
) |
|
Severance and exit costs |
|
— |
|
|
|
6 |
|
|
|
— |
|
|
|
(280 |
) |
|
|
— |
|
|
Non-GAAP operating expenses |
$ |
5,947 |
|
|
$ |
6,068 |
|
|
$ |
6,488 |
|
|
$ |
25,120 |
|
|
$ |
26,793 |
|
|
(in thousands, except per share data) (unaudited) |
|||||||||||||||||||
|
Reconciliation of GAAP to Non-GAAP Net (Loss) |
|||||||||||||||||||
|
|
Three Months Ended |
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
Years Ended
|
||||||||||||
|
|
|
2025 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
Net loss |
$ |
(2,441 |
) |
|
$ |
(964 |
) |
|
$ |
(1,963 |
) |
|
$ |
(6,426 |
) |
|
$ |
(8,688 |
) |
|
Employee retention credit refund |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,989 |
) |
|
|
— |
|
|
Stock-based compensation expense |
|
1,074 |
|
|
|
380 |
|
|
|
1,301 |
|
|
|
2,964 |
|
|
|
4,635 |
|
|
Amortization of intangible assets |
|
1,009 |
|
|
|
742 |
|
|
|
735 |
|
|
|
3,235 |
|
|
|
2,968 |
|
|
Severance and exit costs |
|
— |
|
|
|
(6 |
) |
|
|
— |
|
|
|
280 |
|
|
|
— |
|
|
Other income |
|
17 |
|
|
|
(15 |
) |
|
|
(33 |
) |
|
|
(141 |
) |
|
|
(115 |
) |
|
Income tax expense (benefit) |
|
25 |
|
|
|
10 |
|
|
|
(7 |
) |
|
|
73 |
|
|
|
(152 |
) |
|
Non-GAAP net income (loss) attributable to common stockholders |
$ |
(316 |
) |
|
$ |
147 |
|
|
$ |
33 |
|
|
$ |
(2,004 |
) |
|
$ |
(1,352 |
) |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Non-GAAP net income (loss) per share: |
|
|
|
|
|
|
|
|
|
||||||||||
|
Basic |
$ |
(0.03 |
) |
|
$ |
0.01 |
|
|
$ |
0.00 |
|
|
$ |
(0.17 |
) |
|
$ |
(0.12 |
) |
|
Diluted |
$ |
(0.03 |
) |
|
$ |
0.01 |
|
|
$ |
0.00 |
|
|
$ |
(0.17 |
) |
|
$ |
(0.12 |
) |
|
Weighted average shares used in calculating non-GAAP net income (loss) per share: |
|
|
|
|
|
|
|
|
|
||||||||||
|
Basic |
|
12,013 |
|
|
|
11,791 |
|
|
|
11,416 |
|
|
|
11,840 |
|
|
|
11,053 |
|
|
Diluted |
|
12,013 |
|
|
|
11,941 |
|
|
|
12,339 |
|
|
|
11,840 |
|
|
|
11,053 |
|
|
Reconciliation of Net Loss to Adjusted EBITDA |
|||||||||||||||||||
|
|
Three Months Ended |
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
Years Ended
|
||||||||||||
|
|
|
2025 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
Net loss |
$ |
(2,441 |
) |
|
$ |
(964 |
) |
|
$ |
(1,963 |
) |
|
$ |
(6,426 |
) |
|
$ |
(8,688 |
) |
|
Employee retention credit refund |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,989 |
) |
|
|
— |
|
|
Stock-based compensation expense |
|
1,074 |
|
|
|
380 |
|
|
|
1,301 |
|
|
|
2,964 |
|
|
|
4,635 |
|
|
Depreciation and amortization |
|
1,133 |
|
|
|
845 |
|
|
|
865 |
|
|
|
3,698 |
|
|
|
3,516 |
|
|
Severance and exit costs |
|
— |
|
|
|
(6 |
) |
|
|
— |
|
|
|
280 |
|
|
|
— |
|
|
Other income |
|
17 |
|
|
|
(15 |
) |
|
|
(33 |
) |
|
|
(141 |
) |
|
|
(115 |
) |
|
Income tax expense (benefit) |
|
25 |
|
|
|
10 |
|
|
|
(7 |
) |
|
|
73 |
|
|
|
(152 |
) |
|
Adjusted EBITDA |
$ |
(192 |
) |
|
$ |
250 |
|
|
$ |
163 |
|
|
$ |
(1,541 |
) |
|
$ |
(804 |
) |
|
Q1-2026 Financial Outlook |
||||||||||
|
|
|
|
|
|
|
|
||||
|
Reconciliations of GAAP to Non-GAAP Gross Margin, Operating Expense, Net Loss, EPS and Adjusted EBITDA |
||||||||||
|
For the Three Months Ended |
||||||||||
|
(dollars in millions, except per share data) |
||||||||||
|
|
|
|
|
|
|
|
||||
|
Gross Margin Reconciliation: |
|
|
|
Operating Expense Reconciliation: |
|
|
||||
|
GAAP gross margin |
|
|
43.8 |
% |
|
GAAP operating expenses |
|
$ |
7.1 |
|
|
Stock-based compensation |
|
|
0.4 |
% |
|
Stock-based compensation |
|
|
(0.4 |
) |
|
Amortization |
|
|
0.8 |
% |
|
Amortization |
|
|
(0.7 |
) |
|
Non-GAAP gross margin |
|
|
45.0 |
% |
|
Non-GAAP operating expenses |
|
$ |
6.0 |
|
|
|
|
|
|
|
|
|
||||
|
Net Loss Reconciliation |
|
|
|
Net Loss per Share Reconciliation(1): |
|
|
||||
|
GAAP net loss |
|
$ |
(2.1 |
) |
|
GAAP net loss per share |
|
$ |
(0.17 |
) |
|
Stock-based compensation |
|
|
0.5 |
|
|
Stock-based compensation |
|
|
0.03 |
|
|
Amortization |
|
|
0.8 |
|
|
Amortization |
|
|
0.07 |
|
|
Non-GAAP net loss |
|
$ |
(0.8 |
) |
|
Non-GAAP net loss per share |
|
$ |
(0.07 |
) |
|
|
|
|
|
|
|
|
||||
|
Adjusted EBITDA Reconciliation |
|
|
|
|
|
|
||||
|
GAAP net loss |
|
$ |
(2.1 |
) |
|
|
|
|
||
|
Stock-based compensation |
|
|
0.5 |
|
|
|
|
|
||
|
Depreciation and amortization |
|
|
0.9 |
|
|
|
|
|
||
|
Adjusted EBITDA |
|
$ |
(0.7 |
) |
|
|
|
|
||
|
|
|
|
|
|
|
|
||||
|
(1) Amounts are based on 12.1 million basic and 12.3 million diluted weighted average shares outstanding. |
||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20260226054576/en/
Airgain Contact
Chief Financial Officer
investors@airgain.com
Airgain Investor Contact
+1 949 574 3860
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