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AISP

Airship AI Holdings, Inc.

AISP

Airship AI Holdings, Inc. • NASDAQ
$3.68 ▲ 0.82% (+0.03)
Market Cap $113.26 M
52w High $7.66
52w Low $2.83
Dividend Yield 0%
P/E -1.96
Volume 444.29K
Outstanding Shares 30.78M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.177M ▼ $3.471M ▼ $6.41M ▲ 544.386% ▲ $0.2 ▲ $6.508M ▲
Q2-2025 $2.147M ▼ $3.554M ▼ $-23.757M ▼ -1.107K% ▼ $-0.75 ▼ $-23.66M ▼
Q1-2025 $5.503M ▲ $3.949M ▲ $23.708M ▲ 430.82% ▲ $0.75 ▲ $-1.631M ▲
Q4-2024 $3.207M ▲ $2.73M ▼ $-50.176M ▼ -1.565K% ▼ $-1.94 ▼ $-49.713M ▼
Q3-2024 $2.868M $3.741M $6.214M 216.667% $0.25 $6.372M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $5.756B ▲ $8.103B ▲ $48.184B ▲ $-40.081B ▼
Q2-2025 $6.306M ▼ $10.081M ▼ $56.96M ▲ $-46.879M ▼
Q1-2025 $8.812M ▼ $12.931M ▼ $36.441M ▼ $-23.51M ▲
Q4-2024 $11.415M ▲ $13.707M ▲ $66.731M ▲ $-53.023M ▼
Q3-2024 $6.516M $9.096M $22.017M $-12.921M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $6.41M ▲ $-583.602K ▲ $0 $32.989K ▲ $-550.613K ▲ $-583.6K ▲
Q2-2025 $-72.774M ▼ $-1.821B ▼ $0 $-684.929M ▼ $-2.506B ▼ $-1.821B ▼
Q1-2025 $23.708M ▲ $-2.098M ▲ $0 $-497.399K ▼ $-2.603M ▼ $-2.098M ▲
Q4-2024 $-50.176M ▼ $-2.106M ▼ $0 $7.005M ▲ $4.899M ▼ $-2.106M ▼
Q3-2024 $6.214M $-251.417K $0 $6.54M $6.289M $-251K

Five-Year Company Overview

Income Statement

Income Statement Airship AI is still a very small business in revenue terms, and sales have only inched forward over the last few years. Gross profit appears to move broadly in line with revenue, suggesting the basic economics of each sale have been fairly stable. However, the company is not yet consistently profitable: operating results swing between small profits and losses, and the most recent year shows a meaningful loss after previously reporting a profit. Earnings per share have been volatile, likely reflecting both the shifting bottom line and changes in the capital structure linked to the SPAC history.

Balance Sheet

Balance Sheet The balance sheet looks fragile. Total assets are modest, and the business is now funded with a meaningful amount of debt while shareholder equity has turned sharply negative. Negative equity usually signals accumulated losses or significant accounting charges, and it leaves a thin cushion to absorb future setbacks. This structure can limit financial flexibility and may make the company more sensitive to any downturn or contract delay.

Cash Flow

Cash Flow Cash generation is weak and still developing. Operating cash flow has hovered around breakeven to slightly negative, and free cash flow tells a similar story, helped by very light spending on physical assets. The model is capital‑light but not yet self‑funding, which means the business likely still depends on outside capital or new contracts to comfortably support growth and operations. Sustained, positive operating cash flow has not yet been demonstrated.

Competitive Edge

Competitive Edge Airship AI operates in a specialized niche: AI processing for video and sensor data directly at the edge, rather than in distant data centers. Its main strengths are an end‑to‑end platform, the ability to work with many different sensors, and established relationships with U.S. government and security agencies. These traits create switching costs and regulatory hurdles that can deter new entrants. At the same time, the company competes in a crowded, fast‑moving AI and surveillance market, where larger players, changing government budgets, and evolving privacy and security rules all pose ongoing risks.

Innovation and R&D

Innovation and R&D Innovation is the core of Airship AI’s story. The company focuses on edge AI, turning raw video and sensor feeds into real‑time intelligence with low latency, which is valuable in defense, law enforcement, and critical infrastructure. Its technology stack—edge devices, a central operating system, and visualization tools—forms a cohesive ecosystem, and management is emphasizing custom AI models and next‑generation hardware and software as the next wave of development. Alignment with government security frameworks strengthens its credibility, but the key uncertainty is whether it can scale these innovations fast enough, and broadly enough, to outpace better‑resourced competitors.

Summary

Airship AI is an early‑stage, niche technology company with promising edge‑AI capabilities but a still‑immature financial profile. Revenue remains very small and profitability inconsistent, while the balance sheet shows high leverage and negative equity, pointing to elevated financial risk. Cash flows are close to breakeven but not yet reliably positive, so the business appears dependent on continued contract wins and access to funding. On the strategic side, the company’s integrated platform, government focus, and edge‑computing expertise create a clear competitive angle and room for innovation. Future outcomes will hinge on converting that technological and contractual position into steadier growth, stronger margins, and a more resilient financial base over time.

NEWS

October 9, 2025 · 8:31 AM UTC

Airship AI Announces Exercise of Warrants for $9.7 Million in Gross Proceeds

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October 6, 2025 · 8:31 AM UTC

Airship AI Announces $11.0 Million of Firm Fixed Price Brand Name Only Awards from US Federal Law Enforcement Agencies in September

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