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Airship AI Holdings, Inc. (NASDAQ: AISP) is a leading AI-driven data management platform that addresses complex data challenges for large institutions operating in dynamic, mission-critical environments. The company’s solutions are integral for entities handling rapidly growing volumes of data from numerous sources. Headquartered in Redmond, Washington, and founded in 2006, Airship AI offers three primary products: Outpost AI, Acropolis, and Airship Command.
Airship AI’s flagship product, Outpost AI, is an edge IoT appliance that provides efficient edge analytic processing and secure data transmission, designed for rugged operational environments. It leverages advanced deep learning accelerators to analyze data in real-time, extracting actionable intelligence that is then securely transmitted to the back-end platform, Acropolis.
Acropolis is the enterprise management software stack that enables customers to manage their data across the full lifecycle. This platform supports real-time intelligence collection operations and integrates seamlessly with Outpost AI for comprehensive data analysis and distribution.
The company’s third major offering, Airship Command, is a family of visualization tools that provide users with a common operational picture, integrating various data sources into a coherent and actionable format.
One of Airship AI’s recent achievements includes securing a $10.9 million contract with an agency within the Department of Homeland Security (DHS) for advanced integrated surveillance solutions. Additionally, the company's solutions have been deployed by multiple agencies within the Department of Justice (DOJ) and the Department of Homeland Security for public safety and investigative operations, underscoring its growing influence and reliability in governmental sectors.
The company’s financial outlook is robust, marked by a $140 million pipeline and a $11.8 million backlog, positioning it for triple-digit revenue growth and positive EBITDA in 2024. Recent news includes its listing on the Nasdaq, which has provided enhanced financial transparency and expansion opportunities.
Airship AI continues to innovate and expand its product offerings and market reach, with significant investments in research and development, and a focus on enhancing border protection and organized retail crime prevention. The company is also extending its footprint into the commercial and retail sectors, leveraging its AI capabilities to solve complex video and data management challenges.
For more information, visit the Airship AI website and follow Airship AI on LinkedIn.
Airship AI announced an extension agreement with Platinum Capital Partners for a $2 million Senior Secured Convertible Promissory Note, pushing the maturity date to June 22, 2025. In return, Airship AI issued 232,360 restricted common shares to cover all interest and extension fees through the new maturity date. Platinum can compel the company to repurchase these shares at $2.27518 per share between December 22, 2024, and December 22, 2025. The principal amount of the Note is convertible into common shares at the lower of $3.69717 or 65% of the VWAP for the preceding five trading days, with a minimum price of $2.27518. The Note also includes anti-dilution protection and is secured by a blanket lien on all company assets. This agreement reflects an ongoing financial restructuring to improve liquidity and shareholder value.
Airship AI (NASDAQ: AISP) announced a significant five-year system expansion contract with a Fortune 100 transportation and e-commerce company. The contract, valued in the six-figure range, will enhance the deployment of Airship’s Acropolis Enterprise Video and Data Management platform. This expansion aims to support global operational and physical security requirements, leveraging AI to boost efficiency and decision-making. The contract includes health monitoring, technical support, and software maintenance. Airship AI's platform is designed to work with existing sensors, reducing the need for costly replacements.
Airship AI (NASDAQ: AISP) has secured a substantial contract from a third agency within the Department of Justice (DOJ) for its Acropolis Enterprise Sensor Management Platform. This six-figure contract includes a base year with four additional option years, enhancing public safety and investigative capabilities. The award leverages work from other DOJ and Department of Homeland Security agencies to transition to a FedRAMP certified cloud environment, ensuring standardized and secure cloud services. Airship AI's Acropolis system, built on the NVIDIA Jetson platform, offers advanced analytics and encryption, indicating the strength and scalability of their solutions.
Airship AI Holdings (NASDAQ: AISP) announced its participation in the Northland Growth Conference 2024, set for June 25, 2024. The Company will engage in virtual one-on-one meetings, led by President Paul Allen, to discuss its strong Q1 2024 performance which includes net revenues of $10.6 million and a gross profit of $2.6 million. The Company highlights triple-digit revenue growth and positive cash flow objectives for 2024, supported by substantial orders from the DHS and DOJ. Additionally, Airship AI has a robust validated pipeline valued at approximately $120 million. The Company is also set to join the Russell 3000®, Russell 2000®, and Russell Microcap® Indexes. Furthermore, Airship AI recently rang the Nasdaq Closing Bell on May 15, 2024.
Airship AI Holdings (NASDAQ: AISP) will join the Russell 3000®, Russell 2000®, and Russell Microcap® Indexes following the 2024 FTSE Russell indexes annual reconstitution, effective after U.S. markets close on June 28, 2024. Membership in these indexes, based on market capitalization rankings, will last for one year, providing inclusion in the appropriate large-cap, small-cap, growth, and value style indexes. The Russell US indexes, managed by FTSE Russell, are widely used as benchmarks by investment managers and institutional investors, with $10.5 trillion in assets benchmarked against them as of December 2023.
Airship AI (NASDAQ: AISP) reported strong financial results for Q1 2024, with net revenues of $10.6 million, representing 84.5% of its full-year 2023 revenue. Despite a gross profit of $2.6 million and a gross margin of 25%, the company faced operating losses of $1.4 million and an additional loss of $30.6 million from warrant liabilities.
Operational highlights include contracts with the DOJ and DHS worth millions, and a robust $120 million pipeline. Cash usage in operations was $1.7 million, with cash equivalents at $1.7 million. The company aims for triple-digit revenue growth and positive cash flow in 2024. Key events include a major customer event and participation in the Nasdaq closing bell ceremony.
Airship AI Holdings, a leader in AI-driven surveillance solutions, will ring the Nasdaq closing bell on May 15, 2024, to celebrate recent successes, including a growing backlog of $11.8 million and a pipeline of $140 million. The company aims for triple-digit revenue growth and positive cash flow in fiscal year 2024.
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