Kobalt air compressor no holder holds air pressure

[Donatello.]

My Kobalt Model# 0332041 will no longer hold pressure for any length of time.

If I turn it on and let it build pressure then start using it, it's fine. It will, of course, turn on periodically when the pressure level gets low during use.

It's just annoying to always have to deal with it not holding pressure anymore.

Is the regulator, most likely, shot?