How profitable is Airgain Inc. (AIRG)?

In FY 2025 (10-K), AIRG converted $51.8M of revenue into a 43.5% gross margin, 0% operating margin, and $0 in free cash flow (0% FCF margin).

Stock Ratings / Technology / AIRG / financials

WATT (23) CMTL (17) VUZI (29) CRNT (47) ⌘ Pro Terminal →

Airgain Inc. (AIRG) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

Q: Where is AIRG trading relative to its 50-day, 200-day, and 52-week technical levels?

AIRG last traded at $4.12 (-1.55% on volume of 27,864 shares), positioning the stock -12.53% below its 50-day simple moving average ($4.71) and -24.95% below its 200-day simple moving average ($5.49). Across its 52-week range of $3.00 to $7.66, AIRG sits at the 24.0% percentile with a 14-day RSI of 42.8 (NEUTRAL RANGE) and an implied next-earnings move of ±8.9% ($3.75 to $4.49).

$4.12 -1.55% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $4.10

Airgain Inc. (AIRG) carries a Roarable Rating of E (Strong Sell) with 19/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE E • RED ALERT Cap $54.8M

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on AIRG Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is AIRG stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-03, Airgain Inc. (NASDAQ: AIRG) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 19/100 at a spot price of $4.12 (-1.55% 1D, market cap $54.8M). Pillar breakdown: Fundamental Cash Engine 5/20, Institutional 13F & Options Flow 3/20, SEC Balance-Sheet Forensics 5/20, FRED Macro Regime Fit 3/20, and Executive Insider Alignment 3/20. Across 715 tracked Technology issuers, AIRG ranks #703 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does AIRG compare to WATT and CMTL in the Technology sector?

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Within the Technology sector (Radio And Television Broadcasting And Communications Equipment), AIRG carries a Roarable E (19/100 RQD), trailing P/E of N/A, gross margin of 43.5%, and ROIC of -32.0%. By comparison, WATT (Energous Corporation) holds a E grade (23/100 RQD, P/E N/A, ROIC -35.0%, cap $50.6M) and CMTL (Comtech Telecommunications Corp.) posts a E grade (17/100 RQD, P/E N/A, ROIC -16.8%, cap $38.3M). Among the 5-stock peer group, AIRG leads on earnings multiple (N/A) while CRNT leads on capital efficiency (4.3% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for AIRG?

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Per AIRG's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001272842), Airgain Inc. generated $51.8M in revenue (-14.6% YoY), -$6.4M in net income, and -$1.3M in free cash flow against $45.3M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Technology with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $4.10 (-0.47%)🧬 Dilution Drag (+2.48% YoY Shares)⚙️ Cash Engine: 5/20 (E) • 0% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record Warning: Scores below 50 (19/100 · E) historically underperformed SPY in 71% of rolling 90-day windows (-12.0% avg 90D alpha vs SPY • 29.0% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERRED ALERT • E

3-of-3 JEV AI Jury Bearish Warning

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw E · Rk E

Each axis scored 0–20

12M PRICE TARGET CONE-17.5% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for AIRG)Realized 20D OHLCV Swing Band: ±8.9%

Deterministic 5-Pillar Attribution (19/100 Composite)

🔍 WHY AIRG SCORES 19/100 (E) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: Cash Engine Quality+5/20 pts (26% of score)

SEC XBRL FY 2025 (10-K): 0% FCF Margin ($0 FCF) & 43.5% Gross Margin

▲ #2 Bullish Driver: SEC 10-K Forensic Risk+5/20 pts (26% of score)

Altman Z-Score 0.20 (DISTRESS RISK (<1.8)) • Piotroski F-Score 4/9

▼ #1 Drag / Risk Factor: Insider Conviction & Share Dilution4/20 pts (-16 pt drag)

Dilution Drag (+2.48% YoY Shares) & executive Form 4 sales trim 16 pts from alignment

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade E$4.22-5.2% Next Q

Q2 (-2Q)

Grade E$4.00+2.8% Next Q

Q3 (-1Q)

Grade E$4.11+0.2% Next Q

Current

Grade E$4.12-12% Hist 90D α

Trajectory: E (27) → E (19)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a AIRG Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While AIRG currently carries a cautious 19/100 (E) rating due to Insider Conviction & Share Dilution (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Technology with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($4.71) and Max Pain ($4.33) forces dealer call-delta covering toward $8.04.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Dilution Drag (+2.48% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $AIRG• $4.8M Crowd Pool • Kalshi / Polymarket Composite

Contract: “AIRG Beats Next Quarterly Revenue & EPS Consensus + Hyperscaler AI CapEx Holds Record Pace”

YES 19%NO 81%Trade / Inspect Odds →

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How AIRG Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$0 (0% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $56.0M

FY24

Rev $60.6M

FY25

Rev $51.8M

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$51.8M	43.5%	-16.4%	-$6.4M	-$1.3M	-32%
FY 2024	$60.6M	40.9%	-14.7%	-$8.7M	-$3.7M	-31.4%
FY 2023	$56.0M	43.5%	-22.1%	-$12.4M	-$3.3M	-32%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring AIRG)

✓Walkthrough of AIRG's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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AIRG // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -42.30%▼ DESCENDING CHANNEL

2026-11-03O $4.17H $4.18L $4.12C $4.12VOL 21.4K

RES: $4.84SUP: $3.60SMA50: $4.71SMA200: $5.49

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

AIRG Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 AIRG Butterfly Map → + Track AIRG →

Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle

8.0%/yr Implied 5Y Growth

vs. -14.6% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on AIRG today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for AIRG. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for AIRG today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (AIRG)

Technology Rank #703 of 715 ⚔️ WATT vs AIRG Full Matrix →

1. Head-to-Head Technology Peer Comparison (AIRG vs. WATT, CMTL, VUZI, CRNT)

Industry: Radio And Television Broadcasting And Communications Equipment (21 Tracked Issuers)

Across 715 tracked Technology securities in the Roarable RQD universe, Airgain Inc. (AIRG) ranks #703 by composite RQD confidence (19/100, grade E) and #555 by equity capitalization ($54.8M). Within this direct 5-issuer industry benchmark cohort, AIRG leads on earnings valuation at N/A trailing P/E, while CRNT leads on capital efficiency and profitability with 4.3% ROIC and 33.8% gross margin. CRNT currently holds the highest overall quantitative score in the immediate peer group at 47/100 (D) compared with AIRG at 19/100 (E).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
AIRG ACTIVE Airgain Inc.	E	19/100	—	43.5%	-32.0%	-1.55%	$54.8M	Benchmark Subject
WATT Energous Corporation	E	23/100	—	36.0%	-35.0%	-6.00%	$50.6M	/watt-vs-airg →
CMTL Comtech Telecommunications Corp.	E	17/100	—	31.6%	-16.8%	-2.36%	$38.3M	/cmtl-vs-airg →
VUZI Vuzix Corporation	E	29/100	—	-16.9%	-35.0%	-14.86%	$179.0M	/vuzi-vs-airg →
CRNT Ceragon Networks Ltd.	D	47/100	—	33.8%	4.3%	-2.43%	$188.0M	/crnt-vs-airg →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001272842 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Airgain Inc. (AIRG) reported GAAP revenue of $51.8M (-14.6% vs. FY2024 revenue of $60.6M , and -7.6% cumulative change since FY2023) , GAAP net income of -$6.4M, operating cash flow of -$1.1M, and free cash flow of -$1.3M (+65.5% YoY). On the balance sheet, AIRG closed FY2025 with $45.3M in total assets against $0 in total debt (Altman Z-Score: 0.20, Piotroski F-Score: 4/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$51.8M	-$6.4M	-$1.1M	-$1.3M	$45.3M	—
FY2024 (FY)	2024-12-31	$60.6M	-$8.7M	-$3.5M	-$3.7M	$48.4M	—
FY2023 (FY)	2023-12-31	$56.0M	-$12.4M	-$3.3M	-$3.3M	—	—

3. AIRG Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is AIRG stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does AIRG compare to WATT and CMTL in the Technology sector?

What are the biggest fundamental strengths and SEC risk factors for AIRG?

Where is AIRG trading relative to its 50-day, 200-day, and 52-week technical levels?

AIRG last traded at $4.12 (-1.55% on volume of 27,864 shares), positioning the stock -12.53% below its 50-day simple moving average ($4.71) and -24.95% below its 200-day simple moving average ($5.49). Across its 52-week range of $3.00 to $7.66, AIRG sits at the 24.0% percentile with a 14-day RSI of 42.8 (NEUTRAL RANGE) and an implied next-earnings move of ±8.9% ($3.75 to $4.49).

Direct Sub-Reports: AIRG RQD Cockpit AIRG 12M Forecast AIRG Earnings & Move AIRG Dividends & DRIP AIRG Insiders & 13F AIRG Whale Options AIRG Profit Sankey AIRG News & Why

ROARABLE RATING BRIEF • RQD 19/100 (E) ✓ SEC XBRL & RQD VERIFIED

AIRG — Airgain Inc.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit

Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Airgain Inc. (AIRG) earns a live Roarable RQD composite score of 19/100, corresponding to a E letter grade (Roarable Strong Sell) at a spot price of $4.12 (-1.55% 1D, market capitalization $54.8M).

Fundamental Cash Engine (5/20): Anchored by return on invested capital (ROIC) of -32.0%, gross margin of 43.5%, operating margin of -16.4%, and free cash flow yield of -2.34%.
Whale 13F & Options Flow (3/20) + Insider Conviction (3/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
Macro Regime Fit (3/20) + Forensic Balance Sheet (5/20): Incorporates a 1.00x equity beta, Altman Z-Score of 0.20, Piotroski F-Score of 4/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Airgain Inc. Is a NASDAQ-listed issuer in the Technology sector, operating in the Radio And Television Broadcasting And Communications Equipment industry. The source data describes the company as operating in this industry with a market capitalization of $0.1B. Per the market data, the company reports a gross margin of 43.5%, indicating it generates revenue from products or services sold at that gross margin level.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Airgain Inc. (AIRG) reported $51.8M in annual revenue (up from $60.6M in FY2024, -14.6% YoY) and -$6.4M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($56.0M revenue, -$12.4M net income) through FY2025, AIRG scaled operating cash flow to -$1.1M and free cash flow to -$1.3M, backed by $45.3M in total assets against $0 in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

🐂 Primary Bull Case (E • RQD 19/100): Established market leader in Technology with deep daily trading liquidity. Free cash flow yield of -2.34% and institutional whale pillar of 3/20. With Fundamental Cash Engine at 5/20 and Institutional Whale Flow at 3/20, sustained execution supports upside toward the upper end of the $3.00 – $7.66 52-week range.
🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh current valuation against -16.4% operating margins and a 1.00x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

Operating in Radio And Television Broadcasting And Communications Equipment (Technology), AIRG carries a macro regime beta of 1.00 and gross margin of 43.5%.

Key Question #1: Can AIRG sustain or expand its -16.4% operating margin and -32.0% ROIC against Radio And Television Broadcasting And Communications Equipment peers over the next 4 quarters?
Key Question #2: Following FY2025 revenue of $51.8M and free cash flow of -$1.3M, how will capital allocation balance growth reinvestment against $0 in total debt?
Key Question #3: How sensitive is AIRG's equity valuation to Technology capital spending cycles and macro interest-rate shifts (Beta 1.00x)?

AIRG Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Airgain Inc. (AIRG) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to AIRG Debate Forum (3) ↓

🟢 CATALYST TradingView • 1d ago

Airgain, Inc. Estimates – NASDAQ:AIRG

TradingView report covering Airgain Inc. (AIRG) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST Yahoo Finance • 1d ago

Airgain Sets Third Quarter 2026 Conference Call for Tuesday, November 10, at 5:00 p.m. ET

Yahoo Finance report covering Airgain Inc. (AIRG) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST MarketBeat • 1d ago

Airgain (NASDAQ:AIRG) Cut to Hold at Wall Street Zen

MarketBeat report covering Airgain Inc. (AIRG) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST Business Wire • 1d ago

Airgain Lighthouse Extends 5G Coverage in Challenging Southern California Residential Community

Business Wire report covering Airgain Inc. (AIRG) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingView • 1d ago

Weekly Recap: Lighthouse 5G extends range and Q3 2026 results call

TradingView report covering Airgain Inc. (AIRG) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔴 RISK WATCH Yahoo Finance • 1d ago

AIRO Group Holdings (AIRO) Stock Fair Value Falls As Analysts Reset Earnings Expectations

Yahoo Finance report covering Airgain Inc. (AIRG) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST Kalkine Media • 1d ago

Airgain Files Post-Effective Amendment to Update S-8 Registration Share Count to 2,211,534

Kalkine Media report covering Airgain Inc. (AIRG) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

AIRG Bull vs. Bear Conversation Board — What's Your Call at $4.12?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON AIRG 🐻 33% BEARISH CONVICTION

QU QuantViper RQD DEBATE OPENER • Systematic Momentum Desk 🐂 BULLISH 🎯 Target: $5.02 (+20.1%)

📌 Pinned Debate

Price of $4.18 sits within a $3 to $7.66 52-week range while several company catalysts, including a Q3 2026 results call, are in the ne

Long AIRG at $4.18 targeting $5.02. Price of $4.18 sits within a $3 to $7.66 52-week range while several company catalysts, including a Q3 2026 results call, are in the near-term news flow.. Institutional whale score is 3/20 and the risk/reward vs. the $3.00 52-week low is skewed heavily in favor of bulls.

CapAlloc_Nerd 🐂 BULL

@RiskArb_Desk Fair point on current EV/EBITDA multiples, but you're ignoring the forward operating leverage in Radio And Television Broadcasting And Communications Equipment. If gross margin (43.5%) holds, EPS grows into the multiple faster than bears think.

RI RiskArb_Desk RQD DEBATE OPENER • Hedged Event Driven 🐻 BEARISH 🎯 Target: $3.26 (-22.0%)

Spot @ $4.18

Negative ROIC of -32%, negative FCF yield of -2.34%, Altman Z of 0.2, and operating losses in every reported year point to forensic and

Here is the bear case nobody on the bull side wants to address on AIRG: Negative ROIC of -32%, negative FCF yield of -2.34%, Altman Z of 0.2, and operating losses in every reported year point to forensic and cash-flow stress.. At current EV/EBITDA multiples, even a small guidance miss in Radio And Television Broadcasting And Communications Equipment triggers a 12-15% air pocket.