Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $43.4M | $49.5M | $60.6M | $55.7M | $48.5M | $64.3M | $75.9M | $56.0M | $60.6M | $51.8M |
| Revenue growth | — | 14.0% | 22.4% | -8.1% | -13.0% | 32.5% | 18.1% | -26.2% | 8.1% | -14.6% |
| Gross profit | $19.3M | $23.3M | $26.5M | $25.3M | $22.6M | $24.6M | $28.0M | $20.8M | $24.8M | $22.5M |
| Gross margin | 44.4% | 47.1% | 43.7% | 45.4% | 46.6% | 38.3% | 36.9% | 37.1% | 40.9% | 43.5% |
| Operating income | $3.45M | $969K | -$3.39M | $380K | -$3.18M | -$12.1M | -$8.58M | -$12.4M | -$8.93M | -$8.48M |
| Operating margin | 7.9% | 2.0% | -5.6% | 0.7% | -6.6% | -18.9% | -11.3% | -22.1% | -14.7% | -16.4% |
| Net income | $3.73M | $1.14M | -$2.58M | $926K | -$3.28M | -$10.1M | -$8.66M | -$12.4M | -$8.69M | -$6.43M |
| Net margin | 8.6% | 2.3% | -4.3% | 1.7% | -6.8% | -15.7% | -11.4% | -22.2% | -14.3% | -12.4% |
| EPS (diluted) | $0.40 | $0.11 | -$0.27 | $0.09 | -$0.34 | -$1.01 | -$0.85 | -$1.20 | -$0.79 | -$0.54 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.67M | -$255K | $1.38M | $2.37M | $3.70M | -$11.2M | $4.45M | -$3.30M | -$3.53M | -$1.11M |
| Capital expenditures | $276K | $263K | $990K | $1.21M | $727K | $736K | $763K | $346K | $178K | $166K |
| Free cash flow | $4.39M | -$518K | $387K | $1.15M | $2.98M | -$11.9M | $3.68M | -$3.65M | -$3.71M | -$1.28M |
| Share buybacks | — | $1.26M | $2.17M | $1.23M | $608K | $97.0K | $0.00 | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $45.2M | $15.0M | $13.6M | $13.2M | $38.2M | $14.5M | $11.9M | $7.88M | $8.51M | $7.36M |
| Total assets | $56.1M | $56.3M | $52.9M | $54.7M | $54.9M | $66.4M | $54.4M | $42.2M | $48.4M | $45.3M |
| Total liabilities | $11.0M | $10.1M | $7.76M | $6.82M | $7.18M | $22.2M | $14.6M | $10.8M | $17.5M | $17.0M |
| Shareholders' equity | $45.0M | $46.2M | $45.1M | $47.9M | $47.7M | $44.2M | $39.8M | $31.4M | $31.0M | $28.3M |
| Retained earnings | -$43.6M | -$42.4M | -$45.0M | -$44.1M | -$47.3M | -$57.4M | -$66.1M | -$78.5M | -$87.2M | -$93.6M |
| Shares (wtd avg diluted) | 4.67M | 10.4M | 9.52M | 10.1M | 9.71M | 10.0M | 10.2M | 10.4M | 11.1M | 11.8M |
Every figure is extracted from AIRGAIN INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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