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AISPW

Airship AI Holdings, Inc.

AISPW

Airship AI Holdings, Inc. • NASDAQ
$1.34 ▲ 7.21% (+0.09)
Market Cap $41.24 M
52w High $1.75
52w Low $1.31
Dividend Yield 0%
P/E 0
Volume 8.10K
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 at a very early revenue stage, with sales only inching up over the past few years and remaining very small. Gross profit exists, but the cost structure means the company has not yet achieved consistent profitability. Operating results swing between slight gains and losses, and the most recent year shows a clear move back into the red at the net income level. Earnings per share are volatile, which is common for young, thinly capitalized technology names where small absolute changes in profit or share count can create large percentage moves. Overall, the income statement reflects a company still in the build‑out phase, not yet at scale or margin stability.

Balance Sheet

Balance Sheet The balance sheet looks fragile. Total assets and cash are modest, while financial debt has recently increased sharply from effectively nothing before. At the same time, reported shareholder equity is deeply negative, indicating accumulated losses and a highly leveraged capital structure on paper. This combination—small asset base, rising debt, and negative equity—signals limited balance‑sheet flexibility and a heavy reliance on external financing. It underscores that Airship AI has little cushion to absorb shocks and will likely depend on future capital raises or improved profitability to strengthen its financial position.

Cash Flow

Cash Flow Cash generation is weak and inconsistent. Operating cash flow hovers around breakeven but slipped negative in the most recent period, reflecting the company’s ongoing need to fund operations rather than generate surplus cash. Free cash flow follows the same pattern, with essentially no meaningful investment in physical assets but still not enough operating inflow to cover day‑to‑day needs. This profile is typical of an early‑stage software and hardware platform, but it also means the business is not yet self‑funding and remains exposed to funding and liquidity risks if growth or contract timing disappoints.

Competitive Edge

Competitive Edge Competitively, Airship AI is positioned as a specialized edge‑AI surveillance and data‑management provider serving demanding government and commercial customers. Its integrated platform—combining rugged edge hardware, central management software, and visualization tools—offers a full stack solution that many point‑product rivals do not. Strong relationships with U.S. government and law‑enforcement agencies provide credibility and can be hard for new entrants to displace, given strict security and procurement requirements. The ability to plug into existing cameras and sensors without forcing clients to replace infrastructure is another practical advantage. At the same time, the broader AI and video analytics market is crowded and evolving quickly, so maintaining this edge will depend on execution, contract wins, and ongoing product differentiation.

Innovation and R&D

Innovation and R&D Innovation is the clear bright spot. Airship AI focuses on processing video and sensor data directly at the source, which can reduce latency, bandwidth needs, and security risks versus pure cloud approaches. Its product suite—Outpost AI at the edge, Acropolis for data management, and Airship Command for visualization—is built to work together and to adapt to many different sensor types. The company also customizes AI models using proprietary datasets tailored to each customer’s workflow, which can create sticky, high‑value solutions rather than generic analytics. Looking ahead, expansion of federal contracts, deeper penetration of large commercial customers, and continuous AI model improvements are the main innovation themes to watch. Partnership activity and integrations with other technology vendors could further extend its capabilities and reach.

Summary

Overall, Airship AI blends an ambitious, differentiated technology platform and growing relationships in sensitive end markets with a very early‑stage, financially fragile profile. The story is fundamentally about a specialized edge‑AI and surveillance platform trying to scale from a tiny revenue base, with uneven profitability and negative cash flow. The balance sheet shows high leverage and negative equity, leaving little room for error and heightening dependence on external funding or rapid operating improvement. On the positive side, the company’s integrated hardware‑software ecosystem, sensor‑agnostic design, and deepening ties with U.S. government and select large commercial clients suggest a real competitive and innovation footprint. The key uncertainties are execution on contract growth, the ability to convert innovation into sustainable, profitable scale, and how the capital structure evolves as the business matures.