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Airgain Valuation Multiples

Discover revenue and EBITDA valuation multiples for Airgain and similar public comparables like NCTE, Pyramid, and MapmyIndia.

Airgain Overview

About Airgain

Airgain Inc is engaged in providing antenna technologies. These technologies can be used to enable performance wireless networking across devices and markets which include connected homes, enterprises, automotive, and the Internet of Things. It also provides solutions to complex radio frequency, engineering challenges, and improving wireless service that require higher throughput, broad coverage footprint, and carrier-grade quality. Geographically, it derives maximum revenue from North America and also has a presence in China and the Rest of the World. The company products include Antenna Plus: Fleet, M2M, IoT Antennas, Carrier-Class Antenna, Embedded Antennas, and External Dipole Antennas.


Founded

1995

HQ

United States of America
Employees

121

Website

airgain.com

Financials

LTM Revenue $60.5M

LTM EBITDA -$0.6M

EV

$36.7M

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Airgain Financials

Airgain has a last 12-month revenue of $60.5M and a last 12-month EBITDA of -$0.6M.

In the most recent fiscal year, Airgain achieved revenue of $60.6M and an EBITDA of -$5.2M.

Airgain expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Airgain P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $56.0M $60.6M XXX XXX XXX
Gross Profit $28.0M $20.8M XXX XXX XXX
Gross Margin 50% 34% XXX XXX XXX
EBITDA -$8.8M -$5.2M XXX XXX XXX
EBITDA Margin -16% -9% XXX XXX XXX
Net Profit -$8.7M -$12.4M XXX XXX XXX
Net Margin -15% -21% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

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Airgain Stock Performance

As of April 15, 2025, Airgain's stock price is $4.

Airgain has current market cap of $41.3M, and EV of $36.7M.

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Airgain Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$36.7M $41.3M XXX XXX XXX XXX $-0.11

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Airgain Valuation Multiples

As of April 15, 2025, Airgain has market cap of $41.3M and EV of $36.7M.

Airgain's trades at 0.6x LTM EV/Revenue multiple, and -63.3x LTM EBITDA.

Analysts estimate Airgain's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Airgain Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $36.7M XXX XXX XXX
EV/Revenue 0.6x XXX XXX XXX
EV/EBITDA -7.0x XXX XXX XXX
P/E -4.7x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF -9.9x XXX XXX XXX

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Airgain Valuation Multiples

Airgain's NTM/LTM revenue growth is 9%

Airgain's revenue per employee for the last fiscal year averaged $0.5M, while opex per employee averaged $0.3M for the same period.

Over next 12 months, Airgain's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Airgain's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Airgain Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 8% XXX XXX XXX XXX
EBITDA Margin -9% XXX XXX XXX XXX
EBITDA Growth -40% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 0% XXX XXX XXX XXX
Revenue per Employee $0.5M XXX XXX XXX XXX
Opex per Employee $0.3M XXX XXX XXX XXX
S&M Expenses to Revenue 15% XXX XXX XXX XXX
G&A Expenses to Revenue 21% XXX XXX XXX XXX
R&D Expenses to Revenue 20% XXX XXX XXX XXX
Opex to Revenue 56% XXX XXX XXX XXX

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Airgain Public Comps

See public comps and valuation multiples for IoT and Electronic Components comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
TKH Group XXX XXX XXX XXX XXX XXX
Tanla Platforms XXX XXX XXX XXX XXX XXX
MapmyIndia XXX XXX XXX XXX XXX XXX
Pyramid XXX XXX XXX XXX XXX XXX
NCTE XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Airgain M&A and Investment Activity

Airgain acquired  XXX companies to date.

Last acquisition by Airgain was  XXXXXXXX, XXXXX XXXXX XXXXXX . Airgain acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Airgain

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Airgain

When was Airgain founded? Airgain was founded in 1995.
Where is Airgain headquartered? Airgain is headquartered in United States of America.
How many employees does Airgain have? As of today, Airgain has 121 employees.
Who is the CEO of Airgain? Airgain's CEO is Mr. Jacob Suen.
Is Airgain publicy listed? Yes, Airgain is a public company listed on NAS.
What is the stock symbol of Airgain? Airgain trades under AIRG ticker.
When did Airgain go public? Airgain went public in 2016.
Who are competitors of Airgain? Similar companies to Airgain include e.g. TKH Group, Tanla Platforms, MapmyIndia, Pyramid.
What is the current market cap of Airgain? Airgain's current market cap is $41.3M
What is the current revenue of Airgain? Airgain's last 12-month revenue is $60.5M.
What is the current EBITDA of Airgain? Airgain's last 12-month EBITDA is -$0.6M.
What is the current EV/Revenue multiple of Airgain? Current revenue multiple of Airgain is 0.6x.
What is the current EV/EBITDA multiple of Airgain? Current EBITDA multiple of Airgain is -63.3x.
What is the current revenue growth of Airgain? Airgain revenue growth between 2023 and 2024 was 8%.
Is Airgain profitable? Yes, Airgain is EBITDA-positive (as of the last 12 months).

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