Estados financieros detallados de Airgain, Inc. (AIRG): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Airgain, Inc. registró ingresos de $51.8M en el último ejercicio fiscal, con un CAGR de 5 años del 1.3%.
Márgenes de los últimos 12 meses: margen bruto 43.4%, margen operativo -14.0%, margen neto -13.6%.
Al precio actual de $5.33, AIRG presenta beneficios negativos (P/E no significativo) y un ROE del -24.30%. La capitalización bursátil es de $68M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $43.4M | $49.5M | $60.6M | $55.7M | $48.5M | $64.3M | $75.9M | $56.0M | $60.6M | $51.8M |
| Coste de Ventas | $24.2M | $26.2M | $34.1M | $30.4M | $25.9M | $39.7M | $47.9M | $35.3M | $35.8M | $29.2M |
| Beneficio Bruto | $19.3M | $23.3M | $26.5M | $25.3M | $22.6M | $24.6M | $28.0M | $20.8M | $24.8M | $22.5M |
| I+D | $5.6M | $7.3M | $9.3M | $9.0M | $9.2M | $10.9M | $11.3M | $10.5M | $11.9M | $9.5M |
| Generales y Administrativos | $10.2M | $15.0M | $20.6M | $16.0M | $16.6M | $23.8M | $25.2M | $22.7M | $21.9M | $21.5M |
| Gastos Operativos | $15.8M | $22.3M | $29.9M | $24.9M | $25.8M | $36.7M | $36.6M | $33.2M | $33.7M | $31.0M |
| Beneficio Operativo | $3.5M | $969200 | -$3.4M | $380000 | -$3.2M | -$12.1M | -$8.6M | -$12.4M | -$8.9M | -$8.5M |
| EBITDA | $4.3M | $2.3M | -$1.2M | $1.5M | -$2.1M | -$6.5M | -$4.9M | -$8.7M | -$5.3M | -$2.7M |
| Gastos por Intereses | $178371 | $98711 | $30988 | $5000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | $3.7M | $1.2M | -$2.5M | $1.1M | -$3.0M | -$12.1M | -$8.6M | -$12.3M | -$8.8M | -$6.4M |
| Impuestos | $8181 | $25685 | $101543 | $163000 | $273000 | -$2.0M | $84000 | $128000 | -$152000 | $73000 |
| Beneficio Neto | $3.7M | $1.1M | -$2.6M | $926000 | -$3.3M | -$10.1M | -$8.7M | -$12.4M | -$8.7M | -$6.4M |
| BPA | $0.65 | $0.12 | $-0.27 | $0.10 | $-0.34 | $-1.01 | $-0.85 | $-1.20 | $-0.79 | $-0.54 |
| BPA Diluido | $0.40 | $0.11 | $-0.27 | $0.09 | $-0.34 | $-1.01 | $-0.85 | $-1.20 | $-0.79 | $-0.54 |
| Acciones en Circulación (Diluidas) | $4.7M | $10.4M | $9.5M | $10.1M | $9.7M | $10.0M | $10.2M | $10.4M | $11.1M | $11.8M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $14.0M | $12.1M | $11.5M | $13.7M |
| Beneficio Bruto | $6.1M | $5.4M | $5.0M | $5.8M |
| Beneficio Operativo | -$967000 | -$2.4M | -$2.1M | -$1.7M |
| EBITDA | -$851000 | -$1.5M | -$1.5M | -$1.3M |
| Beneficio Neto | -$964000 | -$2.4M | -$1.9M | -$1.7M |
| BPA | $-0.08 | $-0.21 | $-0.15 | $-0.13 |
| BPA Diluido | $-0.08 | $-0.21 | $-0.15 | $-0.13 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $45.2M | $15.0M | $13.6M | $13.2M | $38.2M | $14.6M | $12.0M | $7.9M | $8.5M | $7.4M |
| Inversiones a Corto | 0 | $21.3M | $20.2M | $21.7M | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $5.2M | $8.4M | $7.0M | $7.7M | $4.8M | $10.8M | $8.7M | $7.4M | $11.7M | $12.8M |
| Inventario | $146815 | $741557 | $1.4M | $1.2M | $1.0M | $8.9M | $4.2M | $2.4M | $4.0M | $3.6M |
| Activos Corrientes | $50.8M | $46.1M | $43.1M | $45.1M | $45.4M | $35.5M | $27.2M | $19.1M | $25.8M | $25.8M |
| Inmovilizado Material | $807086 | $1.0M | $1.4M | $2.1M | $2.4M | $5.5M | $5.0M | $3.9M | $5.9M | $5.9M |
| Fondo de Comercio | $1.2M | $3.7M | $3.7M | $3.7M | $3.7M | $10.8M | $10.8M | $10.8M | $10.8M | $10.8M |
| Activos Intangibles | $3.1M | $5.1M | $4.5M | $3.8M | $3.2M | $14.2M | $11.2M | $8.2M | $5.8M | $2.8M |
| Activos Totales | $56.1M | $56.3M | $52.9M | $54.7M | $54.9M | $70.2M | $57.6M | $44.6M | $48.4M | $45.3M |
| Cuentas por Pagar | $3.9M | $4.0M | $4.1M | $3.8M | $3.0M | $5.5M | $6.5M | $6.5M | $9.5M | $9.2M |
| Deuda a Corto | $1.4M | $1.3M | 0 | 0 | 0 | $841000 | $904000 | $865000 | 0 | $821000 |
| Pasivos Corrientes | $9.2M | $9.7M | $7.5M | $6.8M | $6.9M | $19.9M | $12.9M | $10.0M | $13.5M | $13.0M |
| Deuda a Largo | $1.3M | $334860 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $3.9M |
| Pasivos Totales | $11.0M | $10.1M | $7.8M | $6.8M | $7.2M | $26.0M | $17.7M | $13.2M | $17.5M | $17.0M |
| Reservas | -$43.6M | -$42.4M | -$45.0M | -$44.1M | -$47.3M | -$57.4M | -$66.1M | -$78.5M | -$87.2M | -$93.6M |
| Patrimonio Neto | $45.0M | $46.2M | $45.1M | $47.9M | $47.7M | $44.2M | $39.8M | $31.4M | $31.0M | $28.3M |
| Deuda Total | $3.3M | $1.7M | $292715 | $96000 | $310000 | $3.1M | $2.4M | $1.5M | $3.9M | $8.6M |
| Deuda Neta | -$41.9M | -$34.6M | -$33.5M | -$34.8M | -$37.9M | -$11.5M | -$9.5M | -$6.4M | -$4.6M | $1.2M |
| Capital Circulante | $41.6M | $36.4M | $35.6M | $38.3M | $38.6M | $15.6M | $14.3M | $9.1M | $12.3M | $12.8M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $7.1M | $7.4M | $7.1M | $7.6M |
| Activos Totales | $45.5M | $45.3M | $43.4M | $46.8M |
| Pasivos Totales | $15.8M | $17.0M | $15.4M | $17.5M |
| Patrimonio Neto | $29.7M | $28.3M | $28.0M | $29.3M |
| Deuda Total | $4.5M | $8.6M | $4.5M | $4.5M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $3.7M | $1.1M | -$2.6M | $926000 | -$3.3M | -$10.1M | -$8.7M | -$12.4M | -$8.7M | -$6.4M |
| Amortizaciones | $868697 | $1.0M | $1.3M | $1.1M | $1.1M | $3.5M | $3.7M | $3.6M | $3.7M | $3.7M |
| Compensación en Acciones | $298535 | $736066 | $2.9M | $2.2M | $2.6M | $4.0M | $5.0M | $3.7M | $4.6M | $3.0M |
| Cambio en Capital Circulante | $222461 | -$3.1M | $308815 | -$1.6M | $3.2M | -$8.5M | $6.4M | $1.8M | -$3.2M | -$1.4M |
| Flujo de Caja Operativo | $4.7M | -$254656 | $1.4M | $2.4M | $3.7M | -$11.2M | $4.4M | -$3.3M | -$3.5M | -$1.1M |
| Inversiones (CapEx) | -$275650 | -$263063 | -$989866 | -$1.2M | -$727000 | -$736000 | -$763000 | -$346000 | -$178000 | -$166000 |
| Adquisiciones | 0 | -$6.3M | 0 | $1.2M | -$21.6M | -$14.2M | -$6.5M | 0 | 0 | 0 |
| Recompra de Acciones | 0 | -$1.3M | -$2.2M | -$1.2M | -$608000 | -$97000 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $4.4M | -$517719 | $386648 | $1.2M | $3.0M | -$11.9M | $3.7M | -$3.6M | -$3.7M | -$1.3M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$411000 | $194000 | -$759000 | -$1.8M |
| Inversiones (CapEx) | -$230000 | -$101000 | -$55000 | -$35000 |
| Flujo de Caja Libre | -$641000 | $93000 | -$814000 | -$1.8M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $380000 | $1.1M | $707000 | $895000 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +14.0% | +22.4% | -8.1% | -13.0% | +32.5% | +18.1% | -26.2% | +8.1% | -14.6% |
| Crecimiento Beneficio Neto (anual) | | -69.4% | -326.4% | +135.8% | -454.1% | -207.6% | +14.2% | -43.5% | +30.1% | +26.0% |
| Crecimiento BPA (anual) | | -81.5% | -325.0% | +135.4% | -455.6% | -197.1% | +15.8% | -41.2% | +34.2% | +31.6% |
| Cambio en Acciones (anual) | | +122.0% | -8.1% | +6.0% | -3.8% | +3.1% | +1.7% | +2.0% | +6.4% | +7.1% |
| Crecimiento FCF (anual) | | -111.8% | +174.7% | +198.5% | +158.0% | -499.9% | +130.9% | -199.0% | -1.6% | +65.5% |
| Margen Bruto | 44.4% | 47.1% | 43.7% | 45.4% | 46.6% | 38.3% | 36.9% | 37.1% | 40.9% | 43.5% |
| Margen Operativo | 7.9% | 2.0% | -5.6% | 0.7% | -6.6% | -18.9% | -11.3% | -22.1% | -14.7% | -16.4% |
| Margen EBITDA | 9.9% | 4.6% | -2.0% | 2.7% | -4.3% | -10.2% | -6.4% | -15.5% | -8.7% | -5.1% |
| Margen Neto | 8.6% | 2.3% | -4.3% | 1.7% | -6.8% | -15.7% | -11.4% | -22.2% | -14.3% | -12.4% |
| Margen FCF | 10.1% | -1.0% | 0.6% | 2.1% | 6.1% | -18.5% | 4.9% | -6.5% | -6.1% | -2.5% |
| Tasa Impositiva Efectiva | 0.2% | 2.2% | -4.1% | 15.0% | -9.1% | 16.9% | -1.0% | -1.0% | 1.7% | -1.1% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.94 | $-0.05 | $0.04 | $0.11 | $0.31 | $-1.19 | $0.36 | $-0.35 | $-0.34 | $-0.11 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $3.4M | $9.5M | $9.5M | $9.7M | $9.7M | $10.0M | $10.2M | $10.4M | $11.1M | $11.8M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Rentabilidad
| Rentabilidad sobre capital | -24.30% |
| Rentabilidad sobre capital invertido | -21.15% |
| Rentabilidad sobre activos | -14.97% |
| Margen bruto | 43.44% |
| Margen operativo | -13.99% |
| Margen neto | -13.65% |
Salud financiera
| Deuda / Patrimonio | 0.15 |
| Ratio corriente | 2.01 |
| Piotroski F-Score | 4 |
| Altman Z-Score | -0.34 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 22.15 | 74.92 | -36.70 | 111.82 | -52.29 | -10.52 | -7.66 | -2.97 | -8.94 | -7.52 |
| P/VC | 1.08 | 1.84 | 2.09 | 2.16 | 3.62 | 2.41 | 1.67 | 1.18 | 2.52 | 1.70 |
| P/V | 1.12 | 1.72 | 1.56 | 1.86 | 3.56 | 1.66 | 0.87 | 0.66 | 1.29 | 0.93 |
| Margen Bruto | 44.4% | 47.1% | 43.7% | 45.4% | 46.6% | 38.3% | 36.9% | 37.1% | 40.9% | 43.5% |
| Margen Operativo | 7.9% | 2.0% | -5.6% | 0.7% | -6.6% | -18.9% | -11.3% | -22.1% | -14.7% | -16.4% |
| Margen Neto | 8.6% | 2.3% | -4.3% | 1.7% | -6.8% | -15.7% | -11.4% | -22.2% | -14.3% | -12.4% |