Airgain (AIRG) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue rose 19% sequentially and 0.7% year-over-year to $13.7 million, marking the first year-over-year growth in six quarters, with positive adjusted EBITDA and improved operating leverage.

• Growth was driven by enterprise IoT modem and automotive vehicle gateway shipments, while consumer remained stable but faces near-term headwinds.

• Expanded product offerings for public safety, robotics, drones, and data center monitoring, and advanced Lighthouse commercialization.

• Completed a non-cash acquisition of the HPUE product business from Nextivity, resulting in a $0.3 million gain.

Financial highlights

• Q2 2026 sales were $13.7 million, up 19% sequentially and 0.7% year-over-year; non-GAAP gross margin was 43.6%, GAAP gross margin 42.3%.

• Adjusted EBITDA was $0.4 million, up $1.3 million sequentially; non-GAAP EPS was $0.02, GAAP net loss per share was $0.13.

• Operating expenses were $7.5 million GAAP and $5.7 million non-GAAP, both down year-over-year.

• Cash and cash equivalents at June 30, 2026, were $7.6 million, up $0.5 million sequentially.

Outlook and guidance

• Q3 2026 sales projected at $14.25–$16.25 million (midpoint $15.25 million), with non-GAAP gross margin expected between 41.5%–44.5%.

• Non-GAAP operating expenses projected at $6 million; non-GAAP EPS expected at $0.04 and adjusted EBITDA at $0.7 million at guidance midpoint.

• Management expects continued investment in engineering and sales to drive long-term growth, with cash expected to meet working capital needs for at least 12 months.