Airgain Reports Q2 2025 Revenue Decline but Improved Net Loss

Airgain, Inc. reported its financial results for the second quarter of 2025, revealing a decline in both revenue and net loss compared to the same period in the previous year. For the three months ended June 30, 2025, the company generated $13.6 million in sales, a decrease of 10.3% from $15.2 million in Q2 2024. The six-month revenue also fell by 12.8%, totaling $25.6 million compared to $29.4 million in the prior year. The net loss for the quarter was $1.5 million, an improvement from a loss of $2.5 million in Q2 2024, while the six-month net loss narrowed to $3.0 million from $5.0 million.

The decrease in revenue was primarily attributed to lower sales in the enterprise and automotive markets, which saw declines of $1.5 million and $0.9 million, respectively. Conversely, the consumer market experienced growth, with sales increasing by $0.8 million, driven by higher shipments to cable and mobile network operators. The company's gross profit for the quarter was $5.8 million, representing a gross margin of 42.9%, an increase from 40.5% in the same quarter last year, indicating improved margins despite lower sales.

Airgain's operating expenses also decreased, totaling $7.8 million for the quarter, down from $8.7 million in Q2 2024. This reduction was mainly due to lower research and development costs, which fell by 18.1% to $2.6 million. The company reported a significant increase in other income, primarily from employee retention credit refunds, which contributed $0.5 million to the income statement. This was a notable turnaround from the previous year, where no such income was recorded.

In terms of operational metrics, Airgain's total assets decreased to $45.5 million as of June 30, 2025, down from $48.4 million at the end of 2024. The company maintained a cash balance of $7.7 million, which it believes will be sufficient to meet its working capital needs for at least the next 12 months. The company has also established an at-the-market offering program, allowing it to sell up to $5 million in common stock, although no shares were sold under this program during the first half of 2025.

Looking ahead, Airgain remains focused on executing its strategic initiatives and improving operational efficiencies. The company is optimistic about the recovery in its consumer business and is closely monitoring macroeconomic factors that could impact demand. Despite challenges in the automotive sector, Airgain is committed to investing in growth and expanding its product offerings in the enterprise, automotive, and consumer markets.