Airship AI Holdings, Inc. - AISP STOCK NEWS

Airship AI Holdings, Inc. (NASDAQ: AISP) has secured a $1.2 million contract with a Fortune 100 transportation and e-commerce company for support and maintenance of their Acropolis Enterprise Video and Data Management platform. The contract spans nine months and covers an existing globally deployed system supporting operational and physical security requirements.

The Acropolis platform enables customers to manage devices and sensors across their digital ecosystem, utilizing AI at the edge and backend to optimize efficiency and improve real-time decision-making. Airship AI's President, Paul Allen, emphasized the platform's significance in enhancing customer deployments and the company's comprehensive support services.

Airship AI's approach focuses on supporting customer workflows and maintaining relationships at the manufacturer level, contributing to their high customer retention rate in the 90th percentile.

Airship AI Holdings, Inc. (NASDAQ: AISP) has secured a $4.0 million single-year contract with the Department of Homeland Security for its AI-driven surveillance solutions. The contract includes the company's Acropolis Enterprise Sensor Management platform, Outpost AI edge IoT appliances, and integrated solutions to support border security efforts.

The award demonstrates Airship AI's ongoing support for AI-driven technical surveillance along the Northern and Southern Borders. The company's solutions aim to address challenges in countering human trafficking and drug flow. Airship AI's technology enables efficient management of diverse sensors and devices, turning 'dumb' sensors into 'smart' ones through edge AI appliances, avoiding costly replacements.

The contract also includes Airship AI's new Outpost AI appliance with a built-in cellular modem, designed for environments with communication challenges. This award extends support and maintenance agreements for previously provided capabilities, ensuring seamless operations for the agency over the next year.

Airship AI Holdings, Inc. (NASDAQ: AISP) has secured multiple awards for its Acropolis Enterprise Video and Data Management Platform from state and local law enforcement agencies across the United States. The company's platform, already established in federal law enforcement, is gaining traction in the regional marketplace due to its ability to operate on a common, intuitive platform while differentiating between agency permissions.

Key highlights:

• Awards received from major metropolitan agencies including New York City, Los Angeles, Houston, Baltimore, and Chicago
• State-level awards in Texas, Maryland, and Connecticut
• Platform allows for sharing of digital evidence and integration with the Evidence Discovery Server (EDS)
• Significant growth potential with an estimated 17,500 state and local agencies in the US

Airship AI's success is attributed to partner agency recommendations, targeted outreach, and collaborations, positioning it for substantial future growth in the law enforcement technology sector.

Airship AI Holdings, Inc. (NASDAQ: AISP) has successfully closed its previously announced public offering, raising net proceeds of approximately $7.04 million. The offering consisted of 2,882,883 shares of common stock and warrants to purchase an equal number of shares at a combined price of $2.775 per share and associated warrant. The warrants have an exercise price of $2.65 per share, are immediately exercisable, and will expire in five years. Roth Capital Partners and The Benchmark Company, acted as co-placement agents for the offering, which was made pursuant to an effective registration statement. The company plans to use the proceeds for working capital and general corporate purposes.

Airship AI Holdings, Inc. (NASDAQ: AISP), a leader in AI-driven surveillance solutions, has announced the pricing of a public offering of 2,882,883 shares of common stock and warrants at $2.775 per share. The offering, expected to close around September 3, 2024, aims to raise approximately $8.0 million in gross proceeds.

Key details include:

• Warrants to purchase up to 2,882,883 additional shares
• Warrant exercise price of $2.65 per share
• Warrants exercisable immediately, expiring after 5 years
• Co-placement agents: Roth Capital Partners and The Benchmark Company,

The company plans to use the net proceeds for working capital and general corporate purposes. The offering is made pursuant to an effective SEC registration statement.

Airship AI Holdings, Inc. (NASDAQ: AISP) has secured a significant contract with the Department of Defense (DoD) for its Acropolis Enterprise Sensor Management platform. The contract spans a base year with four option years and marks the first deployment of Airship AI's Acropolis ecosystem at the DoD level. This platform will enable the agency to manage digital evidence globally with enhanced efficiency.

The selection followed thorough market research by the DoD, which found Airship AI's platform uniquely capable of supporting secure collaboration among DoD and other federal agencies in joint investigative operations. This contract is part of Airship AI's broader collaboration with various DoD agencies, including the Navy, Army, and Air Force, with several projects expected to advance from pilot to full acquisition in coming quarters.

Airship AI Holdings, Inc. (NASDAQ: AISP) reported strong financial results for Q2 2024. Net revenues reached $6.4 million, with a gross profit of $4.5 million and a gross margin of 70%. The company achieved an operating income of $1.0 million, marking significant progress towards its full-year cash flow positive objective. First half 2024 combined net revenue of $17.0 million represents 128% of the company's full-year revenue in 2023.

Key operational highlights include:

• A backlog of $2.0 million in firm fixed price contracts
• An increase in the total validated pipeline to ~$150 million
• Completion of multiple contracts worth $10.9 million for the U.S. Department of Homeland Security
• New partnerships and product developments, including an integrated 5G modem for Outpost AI

The company maintains a positive outlook for 2024, projecting triple-digit revenue growth and positive cash flow.

Airship AI (NASDAQ: AISP) has been added to the Russell 3000®, Russell 2000®, and Russell Microcap® indexes, effective after the U.S. market close on June 28, 2024, as part of FTSE Russell's annual reconstitution. This inclusion signifies the company's strong potential in AI-driven video, sensor, and data management surveillance solutions. Over the past year, Airship AI has made significant progress in providing integrated AI solutions for various sectors, including law enforcement, defense, logistics, and retail. The company is optimistic about leveraging its ecosystem and expects to benefit from increased awareness and a broader base of institutional investors.

Airship AI Holdings has announced a six-figure contract extension with an existing agency within the Department of Justice (DOJ). This contract marks the fourth extension for Airship AI's Acropolis software and hardware deployment, important for nationwide public safety and security operations. The Acropolis platform helps manage devices and sensors across a digital ecosystem, offering advanced analytics and efficient data processing through its Outpost AI Edge Appliance, built on the NVIDIA Jetson platform. This contract is seen as validation of the platform's significance to national security and the effectiveness of Airship AI's business strategy for long-term sustainment and operational efficiency.