A
Airship AI Holdings, Inc.
AISPCIK 0001842566NasdaqEmerging GrowthServices-Prepackaged SoftwareDelawareFY ends Dec 31
Period
FY 2025
Revenue
$15.32M
Net Income
$29.32M
Total Assets
$19.48M
Equity
$-7.15M
Shares Out
34.37M
Op. Cash Flow
$-8.00M
Business
Airship AI Holdings, Inc. provides an AI-driven data management platform that structures and analyzes unstructured edge-generated data for mission-critical institutions. Its main offerings include edge hardware and software Outpost AI, enterprise management Acropolis (Commercial and Law variants), and visualization suite Airship Command, plus professional services and support/maintenance agreements. Key business segments serve commercial enterprises and government, defense, and law enforcement agencies with tailored workflows and integrations. The company distributes via direct engagements and partner integrations, deploying solutions on-premises, air-gapped, and in cloud/multi-cloud environments.
Summary from filing dated 2025-02-28
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Product | 10 | 19 | 7 | — | — | |
| Post contract support | 5 | 4 | — | — | — | |
| Other services | 86,031 | 0 | 168,052 | — | — | |
| Revenue | 15 | 23 | 12 | 15 | — | |
| Cost of Sales | 6 | 11 | 5 | — | — | |
| Post contract support | 1 | 2 | 2 | 1 | — | |
| Other services | 72,111 | 0 | — | — | — | |
| Cost of revenue | 8 | 13 | 7 | 6 | — | |
| GROSS PROFIT | 8 | 11 | 6 | 8 | — | |
| RESEARCH AND DEVELOPMENT EXPENSES | 3 | 3 | 3 | — | — | |
| SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 12 | 11 | 10 | 8 | — | |
| TOTAL OPERATING EXPENSES | 15 | 14 | 12 | 11 | — | |
| OPERATING LOSS | −7 | −4 | −7 | −3 | −1 | |
| Gain (loss) from change in fair value of earnout liability | 15 | −18 | — | — | — | |
| Gain (loss) from change in fair value of warrant liability | 21 | −34 | — | — | — | |
| Loss from change in fair value of convertible debt | 0 | −141,636 | −240,784 | — | — | |
| Loss on note conversion | 0 | −1 | 0 | — | — | |
| Interest income (expense), net | 282,786 | −1 | — | — | — | |
| Other income | 0 | 13,644 | — | — | — | |
| Total other income (expense), net | 37 | −54 | −9,501 | 2 | — | |
| INCOME (LOSS) BEFORE PROVISON FOR INCOME TAXES | 29 | −57 | 16 | −477,493 | — | |
| Provision for income taxes | 0 | 0 | 0 | −10,000 | — | |
| NET INCOME (LOSS) | 29 | −57 | 16 | −487,493 | 5 | |
| Foreign currency (loss) income, net | −7,409 | 9,338 | −2,702 | −10,106 | — | |
| TOTAL COMPREHENSIVE INCOME (LOSS) | 29 | −57 | 16 | −497,599 | — | |
| Basic (per share) | 0.9 | −2.34 | 1.2 | — | — | |
| Diluted (per share) | 0.76 | −2.34 | 0.8 | — | — | |
| Basic (shares) | 32 | 25 | — | — | — | |
| Diluted (shares) | 39 | 25 | 20 | — | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 12 | 11 | 3 | 298,614 | 2 | |
| Accounts receivable, net of allowance for credit losses of $0 | 6 | 1 | — | — | — | |
| Prepaid expenses and other | 294,191 | 17,883 | 18,368 | 16,039 | — | |
| Total current assets | 19 | 13 | 5 | 2 | 2 | |
| Other assets | 160,528 | 165,960 | 182,333 | 0 | — | |
| Operating lease right of use asset | 807,915 | 882,024 | 1 | 804,338 | — | |
| TOTAL ASSETS | 19 | 14 | 6 | 4 | 326 | |
| Accounts payable - trade | 1 | 759,480 | 3 | 216,718 | 23,387 | |
| Advances from founders | 0 | 1 | 2 | — | — | |
| Accrued expenses | 27,966 | 51,649 | 200,531 | 120,662 | 181,202 | |
| Current portion of operating lease liability | 438,635 | 305,178 | 174,876 | 628,371 | — | |
| Deferred revenue- current portion | 5 | 3 | 4 | 4 | — | |
| Total current liabilities | 6 | 6 | 12 | 6 | 204,589 | |
| Operating lease liability, net of current portion | 425,109 | 638,525 | 943,702 | 203,769 | — | |
| Warrant liability | 13 | 34 | 2 | 0 | — | |
| Earnout liability | 3 | 23 | 5 | 0 | — | |
| Deferred revenue- non-current | 4 | 3 | 5 | 5 | — | |
| Total liabilities | 27 | 67 | 24 | 12 | 20 | |
| Preferred stock - no par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2025 and 2024 | 0 | 0 | 0 | 0 | — | |
| Common stock - $0.0001 par value, 200,000,000 shares authorized, 34,368,162 and 30,588,413 shares issued and outstanding as of December 31, 2025 and 2024 | 3,434 | 3,056 | 2,281 | 1,339 | 103 | |
| Additional paid in capital | 38 | 22 | 0 | 2 | — | |
| Accumulated deficit | −46 | −75 | −17 | −10 | −18 | |
| Accumulated other comprehensive loss | −10,879 | −3,470 | −12,808 | −10,106 | — | |
| Total stockholders' deficit | −7 | −53 | −17 | −8 | −8 | |
| TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | 19 | 14 | 6 | 4 | 326 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net income (loss) | 29 | −57 | 16 | −487,493 | — | |
| Depreciation and amortization | 0 | 1,861 | 14,879 | 14,879 | — | |
| Stock-based compensation | 2 | 1 | — | — | — | |
| Amortization of operating lease right of use asset | 378,448 | 222,780 | 596,556 | 517,232 | — | |
| Issuance of common stock for services | 0 | 198,500 | 0 | — | — | |
| Noncash interest expense | 0 | 1 | 0 | — | — | |
| (Gain) loss from change in fair value of warrant liability | −21 | 34 | — | — | — | |
| (Gain) loss from change in fair value of earnout liability | −15 | 18 | — | — | — | |
| Loss from change in fair value of convertible note | 0 | 141,636 | 240,784 | — | — | |
| Loss on note conversion | 0 | 1 | 0 | — | — | |
| Accounts receivable | −5 | 422,147 | −943,152 | 125,601 | — | |
| Prepaid expenses and other | −276,308 | 485 | −2,329 | 14,063 | — | |
| Other assets | 5,432 | 16,373 | −182,333 | — | — | |
| Operating lease liability | −384,298 | −174,875 | −531,621 | −560,435 | — | |
| Payroll and income tax receivable | 0 | 7,230 | 960,383 | −939,850 | — | |
| Accounts payable - trade and accrued expenses | 366,649 | −2 | 666,136 | −88,784 | — | |
| Deferred revenue | 2 | −3 | −2,667 | −915,278 | — | |
| NET CASH USED IN OPERATING ACTIVITIES | −8 | −7 | −3 | −3 | −2 | |
| Issuance of common stock and warrants for offering, net | 0 | 7 | 0 | — | — | |
| Proceeds from warrant exercise, net | 9 | 8 | 0 | — | — | |
| Repayment of advances from founders | −1 | 0 | — | — | −148,620 | |
| Advances from founders | 0 | −450,000 | 1 | — | — | |
| Proceeds from stock option exercises | 149,288 | 240,507 | 0 | — | — | |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 8 | 15 | 6 | 2 | 327 | |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 342,600 | 8 | 3 | −1 | — | |
| Effect from exchange rate on cash | −7,409 | 9,338 | −2,702 | — | — | |
| Interest paid | 0 | 11,913 | 21,438 | 19,950 | — | |
| Taxes paid | 0 | 2,410 | 17,247 | 0 | — | |
| Issuance of common stock for debt interest payment | 0 | 1 | 0 | — | — | |
| Issuance of common stock for debt conversion | 0 | 4 | 0 | — | — | |
| Issuance of common stock for earnout shares | 5 | 0 | — | — | — | |
| Recognition of operating lease liability | 304,339 | 0 | 1 | 1 | — | |
| Recognition of operating right-of-use asset | 304,339 | 0 | — | — | — |
Filings
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