Airship AI Holdings Inc Financials
Airship AI Holdings Inc (AISP) reported $18.1M in revenue over the twelve months to Jun 30, 2026, up 32.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Airship AI’s dominant mechanic is persistent operating cash consumption, funded externally while reported earnings swing independently of core operations.
In FY2025, net income reached$29.3M despite an operating loss of-$7.2M ; the earnings figure therefore did not come from the operating engine. Operating cash flow was-$8.0M , confirming that reported profit was not converting into cash.
Revenue fell
Accounts receivable expanded to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Airship AI Holdings Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Airship AI Holdings Inc has an operating margin of -47.1%, meaning the company loses $47 on every $100 of revenue. This results in a profitability score of 26/100. This is down from -15.2% the prior year.
Airship AI Holdings Inc's revenue declined 33.5% year-over-year, from $23.1M to $15.3M. This contraction results in a growth score of 69/100.
Not available for Airship AI Holdings Inc, and counted as zero in the overall score.
With a current ratio of 2.94, Airship AI Holdings Inc holds $2.94 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 76/100.
Not available for Airship AI Holdings Inc, and counted as zero in the overall score.
Airship AI Holdings Inc scores -1.31, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($73.4M) relative to total liabilities ($26.6M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Airship AI Holdings Inc passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Airship AI Holdings Inc used $0.27 of operating cash (-$8.0M OCF vs $29.3M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Airship AI Holdings Inc reported an operating loss of $7.2M against $283K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Airship AI Holdings Inc generated $15.3M in revenue in fiscal year 2025. This represents a decrease of 33.5% from the prior year.
Airship AI Holdings Inc's EBITDA was -$7.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 106.0% from the prior year.
Airship AI Holdings Inc reported $29.3M in net income in fiscal year 2025. This represents an increase of 151.0% from the prior year.
Airship AI Holdings Inc earned $0.76 per diluted share (EPS) in fiscal year 2025.
Cash & Balance Sheet
Airship AI Holdings Inc held $11.8M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Airship AI Holdings Inc's gross margin was 50.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 4.6 percentage points from the prior year.
Airship AI Holdings Inc's operating margin was -47.1% in fiscal year 2025, reflecting core business profitability. This is down 31.9 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2025.
Capital Allocation
Airship AI Holdings Inc invested $3.1M in research and development in fiscal year 2025. This represents an increase of 9.7% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
AISP Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.1M-35.1% | $6.4M-2.2% | $6.5M+451.5% | $1.2M-45.2% | $2.1M-61.0% | $5.5M+71.6% | $3.2M+11.8% | $2.9M |
| Cost of Revenue | $576K-78.5% | $2.7M-3.6% | $2.8M+1267.7% | $203K-25.8% | $274K-90.6% | $2.9M+99.9% | $1.5M+412.4% | $285K |
| Gross Profit | $3.1M-2.2% | $3.2M-4.8% | $3.3M+450.9% | $604K-60.6% | $1.5M-31.4% | $2.2M+80.4% | $1.2M-42.5% | $2.2M |
| R&D Expenses | $854K+1.2% | $844K-2.3% | $863K+14.6% | $753K+1.7% | $741K+2.9% | $719K+116.0% | $333K-69.0% | $1.1M |
| SG&A Expenses | $3.7M-4.3% | $3.9M+26.9% | $3.1M+13.2% | $2.7M-3.4% | $2.8M-12.9% | $3.2M+34.7% | $2.4M-10.1% | $2.7M |
| Operating Income | -$1.5M+5.7% | -$1.6M-158.1% | -$613K+78.6% | -$2.9M-41.8% | -$2.0M-17.9% | -$1.7M-14.9% | -$1.5M+6.1% | -$1.6M |
| Interest Expense | $110K+25.6% | $88K-4.7% | $92K+75.3% | $53K-13.3% | $61K-21.9% | $78K+104.9% | -$1.6M-1288.3% | $134K |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$2.4M-234.0% | -$721K-103.1% | $23.0M+258.2% | $6.4M+127.0% | -$23.8M-200.2% | $23.7M+147.2% | -$50.2M-907.5% | $6.2M |
| EPS (Diluted) | -$0.07-250.0% | -$0.02-103.3% | $0.61+306.7% | $0.15+120.0% | -$0.75-223.0% | $0.61 | -$2.03-1294.1% | $0.17 |
AISP Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $17.7M-7.2% | $19.1M-1.8% | $19.5M+140.3% | $8.1M-19.6% | $10.1M-22.0% | $12.9M-5.7% | $13.7M+50.7% | $9.1M |
| Current Assets | $17.0M-7.0% | $18.3M-1.4% | $18.5M+163.1% | $7.0M-21.1% | $8.9M-23.6% | $11.7M-7.9% | $12.7M+58.0% | $8.0M |
| Cash & Equivalents | $12.4M-1.6% | $12.6M+7.0% | $11.8M+104.1% | $5.8M-8.7% | $6.3M-28.4% | $8.8M-22.8% | $11.4M+75.2% | $6.5M |
| Inventory | $844K | N/A | $0 | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $3.7M-30.3% | $5.4M-16.8% | $6.5M+418.1% | $1.2M-51.2% | $2.6M-8.1% | $2.8M+126.8% | $1.2M+9.4% | $1.1M |
| Total Liabilities | $26.4M+0.2% | $26.3M-1.1% | $26.6M-44.7% | $48.2M-15.4% | $57.0M+56.3% | $36.4M-45.4% | $66.7M+203.1% | $22.0M |
| Current Liabilities | $5.3M-25.8% | $7.2M+14.6% | $6.3M+15.0% | $5.5M-0.4% | $5.5M-12.8% | $6.3M+11.3% | $5.7M-29.2% | $8.0M |
| Total Equity | -$8.6M-19.8% | -$7.2M-0.7% | -$7.1M+82.2% | -$40.1M+14.5% | -$46.9M-99.4% | -$23.5M+55.7% | -$53.0M-310.4% | -$12.9M |
| Retained Earnings | -$48.7M-5.2% | -$46.3M-1.6% | -$45.6M+33.5% | -$68.6M+8.5% | -$75.0M-46.4% | -$51.2M+31.6% | -$74.9M-202.6% | -$24.8M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
AISP Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$235K-128.9% | $814K+123.3% | -$3.5M-500.1% | -$584K+68.0% | -$1.8M+13.2% | -$2.1M+0.4% | -$2.1M-737.5% | -$251K |
| Financing Cash Flow | $45K+296.9% | $11K-99.9% | $9.5M+28687.7% | $33K+104.8% | -$685K-37.7% | -$497K-107.1% | $7.0M+7.1% | $6.5M |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Investing Cash Flow, Dividends Paid, Share Buybacks.
AISP Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.1%+25.3pp | 49.8%-1.4pp | 51.2%-0.1pp | 51.3%-20.1pp | 71.4%+30.8pp | 40.6%+2.0pp | 38.6%-36.4pp | 75.1% |
| Operating Margin | -36.1%-11.3pp | -24.9%-15.5pp | -9.4% | -243.5% | -94.2%-63.0pp | -31.1%+15.4pp | -46.5%+8.8pp | -55.4% |
| Net Margin | -58.4%-47.0pp | -11.3% | 353.6% | 544.4% | -1106.6% | 430.8% | -1564.8% | 216.7% |
| Return on Assets | -13.6%-9.8pp | -3.8%-121.7pp | 117.9%+38.8pp | 79.1%+314.8pp | -235.7%-419.0pp | 183.3%+549.4pp | -366.1%-434.4pp | 68.3% |
| Current Ratio | 3.18+0.6x | 2.54-0.4x | 2.94+1.7x | 1.29-0.3x | 1.62-0.2x | 1.85-0.4x | 2.24+1.2x | 1.00 |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Note: Shareholder equity is negative (-$7.1M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Where Airship AI Holdings Inc Ranks
Frequently Asked Questions
What is Airship AI Holdings Inc's annual revenue?
Airship AI Holdings Inc (AISP) reported $15.3M in total revenue for fiscal year 2025. This represents a -33.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Airship AI Holdings Inc's revenue growing?
Airship AI Holdings Inc (AISP) revenue declined by 33.5% year-over-year, from $23.1M to $15.3M in fiscal year 2025.
Is Airship AI Holdings Inc profitable?
Yes, Airship AI Holdings Inc (AISP) reported a net income of $29.3M in fiscal year 2025.
What is Airship AI Holdings Inc's EBITDA?
Airship AI Holdings Inc (AISP) had EBITDA of -$7.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Airship AI Holdings Inc's gross margin?
Airship AI Holdings Inc (AISP) had a gross margin of 50.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Airship AI Holdings Inc's operating margin?
Airship AI Holdings Inc (AISP) had an operating margin of -47.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Airship AI Holdings Inc's operating cash flow?
Airship AI Holdings Inc (AISP) recorded an outflow of $8.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Airship AI Holdings Inc's total assets?
Airship AI Holdings Inc (AISP) had $19.5M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Airship AI Holdings Inc spend on research and development?
Airship AI Holdings Inc (AISP) invested $3.1M in research and development during fiscal year 2025.
What is Airship AI Holdings Inc's current ratio?
Airship AI Holdings Inc (AISP) had a current ratio of 2.94 as of fiscal year 2025, which is generally considered healthy.
What is Airship AI Holdings Inc's return on assets (ROA)?
Airship AI Holdings Inc (AISP) had a return on assets of 150.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Airship AI Holdings Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Airship AI Holdings Inc (AISP) held $11.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $8.0M over that year. Dividing the one by the other, the reported balance equals about 18 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Airship AI Holdings Inc's debt-to-equity ratio negative or not reported?
Airship AI Holdings Inc (AISP) has negative shareholder equity of -$7.1M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Airship AI Holdings Inc's Altman Z-Score?
Airship AI Holdings Inc (AISP) has an Altman Z-Score of -1.31, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Airship AI Holdings Inc's Piotroski F-Score?
Airship AI Holdings Inc (AISP) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Airship AI Holdings Inc's earnings high quality?
For every $1 of reported earnings, Airship AI Holdings Inc (AISP) used $0.27 of operating cash (-$8.0M OCF vs $29.3M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Airship AI Holdings Inc cover its interest payments?
Airship AI Holdings Inc (AISP) reported an operating loss of $7.2M against $283K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Airship AI Holdings Inc?
Airship AI Holdings Inc (AISP) scores 34 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.