Welcome to our dedicated page for Airship AI Holdings news (Ticker: AISP), a resource for investors and traders seeking the latest updates and insights on Airship AI Holdings stock.
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Airship AI Holdings (NASDAQ: AISP) reported strong financial results for FY 2024, achieving $23.1 million in net revenue, representing an 87% increase from FY 2023's $12.3 million. The company posted a gross profit of $10.5 million with a 45.7% margin and reduced its operating loss to $3.5 million from $6.6 million in the previous year.
Key financial highlights include $11.4 million in cash and cash equivalents, $1.2 million in accounts receivable, and a debt-free balance sheet following the conversion of $2.8 million in senior secured notes. The company maintains a $5.5 million backlog and a validated pipeline of approximately $135 million.
Notable achievements include securing a $4.0 million contract with DHS for border security solutions and a $1.2 million contract with a Fortune 100 Transportation company. For 2025, Airship AI projects net revenues of approximately $30 million, representing 30% YoY growth, and expects to achieve positive cash flow from operations.
Airship AI Holdings (NASDAQ: AISP) has secured a seven-figure, one-year system maintenance and sustainment contract renewal with an existing Fortune 100 transportation and e-commerce customer. The contract focuses on the Company's Acropolis Enterprise Video and Data Management platform, supporting operational and physical security requirements across global locations.
The contract encompasses health monitoring, technical and engineering support, and software maintenance, showcasing Airship AI's ability to generate revenue through professional services alongside traditional software and hardware offerings. The Acropolis platform enables customers to manage devices and sensors across their digital ecosystem, utilizing AI at both edge and backend levels to optimize operational efficiency and improve real-time decision-making capabilities.
Airship AI Holdings (NASDAQ: AISP) reported Q3 2024 financial results with net revenues of $2.9 million and gross profit of $2.2 million, maintaining a 75% gross margin. The company's year-to-date revenue of $19.9 million represents a 61% increase over FY 2023. Key highlights include a $6.6 million backlog and a validated pipeline of approximately $130 million. Notable contracts include a $4.0 million DHS contract and a $1.2 million support contract with a Fortune 100 company. The company closed an $8 million public offering and maintains $6.5 million in cash and equivalents. Despite Q3 challenges including delayed opportunities and budget constraints, Airship AI projects triple-digit revenue growth for 2024.
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.
