Airgain, Inc. AIRG

Competitive advantage analysis · technology

Corporate Default
Overall moat score
39/100
Developing

About Airgain, Inc.

Airgain, Inc. provides wireless connectivity solutions that offers embedded components, external antennas, and integrated systems worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; profile ceramic embedded antenna; ultra embedded antennas; and SmartMax embedded antennas. It offers embedded and NimbeLink embedded moderms; custom cellular solutions; cellular IoT development; cellular IoT development kits; SIM cards; … Full AIRG analysis →

Competitive advantage assessment

Key strengths

  • Margins Stable Across Cycles Operating margin volatility is low (stability score 0.76), demonstrating pricing resilience across cycles.
  • Operating Leverage in Effect Operating leverage is evident (score 0.61), with margins expanding over time.

Key risks

  • ROIC Below WACC or Peers ROIC at 17.0th percentile suggests inefficient capital deployment.
  • Elevated Debt Risk Debt serviceability is weak (score 0.15), raising refinancing risk.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
46

Where AIRG ranks in Communication Equipment

Airgain, Inc. ranks #36 of 59 scored companies in Communication Equipment by moat score — the top 61%. The widest moat in the group is Ubiquiti Inc. (UI) at 82/100.

Moat scores for companies ranked near AIRG in Communication Equipment
# Company Moat score Rating
32 Frequency Electronics, Inc. FEIM 41/100 Developing
33 Comtech Telecommunications Corp CMTL 41/100 Developing
34 Franklin Wireless Corp. FKWL 41/100 Developing
35 ADTRAN Holdings, Inc. ADTN 40/100 Developing
36 Airgain, Inc. AIRG 39/100 Developing
37 Applied Optoelectronics, Inc. AAOI 37/100 Developing
38 Silicom Ltd SILC 36/100 Developing
39 Telesat Corporation TSAT 35/100 Developing
40 Cambium Networks Corporation CMBM 30/100 Developing

See every General Corporate company ranked by moat score →

How AIRG scores on the Corporate Default defenses

Pricing Power

Score 46 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 29 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 41 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 32 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 31 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 56 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding AIRG's moat

What is Airgain, Inc.'s moat score?

Airgain, Inc. (AIRG) scores 39 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #36 of 59 scored companies in Communication Equipment, the top 61%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 58 companies in Communication Equipment. Its strongest defense is Scale & Market Position (56/100) and its weakest is Cost Advantage (29/100).

How does Airgain, Inc. compare with other Communication Equipment companies?

Airgain, Inc. ranks #36 of 59 scored companies in Communication Equipment by moat score. The widest moat in Communication Equipment is Ubiquiti Inc. (UI) at 82/100. The companies ranked closest are ADTRAN Holdings, Inc. (ADTN) at 40 just above it and Applied Optoelectronics, Inc. (AAOI) at 37 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 58 companies in Communication Equipment. The defenses are then weighted to produce the overall score out of 100.

Why is Airgain, Inc. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Airgain, Inc.?

The Corporate Default template measures 6 defenses, and AIRG scores: Pricing Power (46), Cost Advantage (29), Customer Stickiness (41), Capital Efficiency (32), Resilience (31), Scale & Market Position (56). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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