Airship AI Holdings Warrants (AISPW) Financials
Newest figures come from the 10-Q for Q3 FY2026, filed Nov 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AISPW SEC filings page.
Airship AI Holdings, Inc. Warrants (AISPW) reported $23.2M in revenue over the twelve months to Sep 30, 2026, up 92.8% 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).
Reported profit is disconnected from operations: revenue contracted, operating losses deepened, and financing still funded cash needs.
The earnings picture is not cash-backed: FY2025 net income of$29.3M coexisted with an operating loss of$7.2M , indicating reported profit was not produced by core operations alone. Operating cash flow of-$8.0M sat beside financing cash flow of$8.3M , showing that cash needs were funded externally rather than by operations.
Gross margin rose to
Liabilities fell from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 4 of 6, with the others left out rather than counted as zero. 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. Warrants'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. Warrants has an operating margin of -47.1%, meaning the company loses $47 on every $100 of revenue. This results in a profitability score of 23/100. This is down from -15.2% the prior year.
Airship AI Holdings, Inc. Warrants's revenue declined 33.5% year-over-year, from $23.1M to $15.3M. This contraction results in a growth score of 68/100.
Not available for Airship AI Holdings, Inc. Warrants, so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
With a current ratio of 2.94, Airship AI Holdings, Inc. Warrants holds $2.94 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 78/100.
Not available for Airship AI Holdings, Inc. Warrants, so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Airship AI Holdings, Inc. Warrants 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 operating efficiency signals passes.
For every $1 of reported earnings, Airship AI Holdings, Inc. Warrants 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.
Key Financial Metrics
Earnings & Revenue
Airship AI Holdings, Inc. Warrants generated $6.2M in revenue in Q3 2026. This represents an increase of 429.2% from the same quarter a year earlier. Against the prior quarter it is up 51.1%.
Airship AI Holdings, Inc. Warrants reported $9.6M in net income in Q3 2026. This represents an increase of 50.0% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Airship AI Holdings, Inc. Warrants earned $0.25 per diluted share (EPS) in Q3 2026. This represents an increase of 66.7% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q3 2026.
Cash & Balance Sheet
Airship AI Holdings, Inc. Warrants held $12.7M in cash as of Q3 2026; no long-term debt figure is on record for that period.
Not reported for Q3 2026.
Not reported for Q3 2026.
Margins & Returns
Airship AI Holdings, Inc. Warrants's gross margin was 56.2% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is up 4.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 18.9 percentage points.
Airship AI Holdings, Inc. Warrants's operating margin was -9.0% in Q3 2026, reflecting core business profitability. Against the prior quarter it is up 27.1 percentage points. No change is given against Q3 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Airship AI Holdings, Inc. Warrants's quarterly ROE was 624.4% in Q3 2026: one quarter's net income over shareholder equity, not annualized.
Not shown for Q3 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Airship AI Holdings, Inc. Warrants invested $906K in research and development in Q3 2026. This represents an increase of 20.3% from the same quarter a year earlier. Against the prior quarter it is up 6.1%.
Not reported for Q3 2026.
Not reported for Q3 2026.
AISPW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.2M+429.2% | $4.1M+92.1% | $6.4M+15.5% | $6.5M+102.5% | $1.2M-58.9% | $2.1M-66.5% | $5.5M-48.0% | $3.2M-23.8% |
| Cost of Revenue | $2.7M+375.6% | $1.0M+67.0% | $3.2M-2.5% | $3.2M+61.0% | $574K-19.7% | $614K-67.6% | $3.3M-58.9% | $2.0M-22.0% |
| Gross Profit | $3.5M+480.1% | $3.1M+102.1% | $3.2M+41.6% | $3.3M+168.5% | $604K-72.0% | $1.5M-66.0% | $2.2M-15.0% | $1.2M-26.5% |
| R&D Expenses | $906K+20.3% | $854K+15.3% | $844K+17.3% | $863K+159.2% | $753K-29.8% | $741K+5.4% | $719K+3.5% | $333K-52.5% |
| SG&A Expenses | $3.2M+16.2% | $3.7M+32.7% | $3.9M+20.9% | $3.1M+28.3% | $2.7M+1.9% | $2.8M-0.5% | $3.2M-3.2% | $2.4M+49.1% |
| Operating Income | -$561Kn/m | -$1.5Mn/m | -$1.6Mn/m | -$613Kn/m | -$2.9Mn/m | -$2.0M-307.1% | -$1.7Mn/m | -$1.5Mn/m |
| EBITDA | N/A | N/A | N/A | -$613Kn/m | -$2.9Mn/m | -$2.0M-307.1% | -$1.7Mn/m | -$1.5Mn/m |
| Income Tax | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Net Income | $9.6M+50.0% | -$2.4Mn/m | -$721K-103.0% | $23.0Mn/m | $6.4M+3.2% | -$23.8M-228.7% | $23.7Mn/m | -$50.2M-401.4% |
| EPS (Basic) | $0.28+40.0% | -$0.07n/m | -$0.02-102.7% | $0.70 | $0.20-20.0% | -$0.75-193.8% | $0.75 | -$2.03 |
| EPS (Diluted) | $0.25+66.7% | -$0.07n/m | -$0.02-103.3% | $0.61 | $0.15-11.8% | -$0.75-223.0% | $0.61 | -$2.03 |
| Diluted Shares (Avg) | 39M-7.3% | 34M+8.0% | 34M-11.4% | N/A | 42M+18.4% | 32M+5.3% | 39M | N/A |
Not reported in any period shown, so not listed: Interest Expense.
AISPW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $20.8M+156.5% | $17.7M+76.0% | $19.1M+47.9% | $19.5M+42.1% | $8.1M-10.9% | $10.1M+90.0% | $12.9M+177.4% | $13.7M+125.2% |
| Current Assets | $20.1M+186.2% | $17.0M+90.5% | $18.3M+56.5% | $18.5M+46.2% | $7.0M-12.2% | $8.9M+113.7% | $11.7M+237.4% | $12.7M+163.8% |
| Cash & Equivalents | $12.7M+121.4% | $12.4M+96.1% | $12.6M+42.6% | $11.8M+2.9% | $5.8M-11.7% | $6.3M+2681.2% | $8.8M+410.6% | $11.4M+265.3% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Inventory | $1.1M | $844K | N/A | $0 | N/A | N/A | N/A | N/A |
| Accounts Receivable | $6.3M+403.8% | $3.7M+46.5% | $5.4M+93.3% | $6.5M+426.8% | $1.2M+11.2% | $2.6M-25.7% | $2.8M+63.3% | $1.2M-25.6% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Total Liabilities | $19.2M-60.1% | $26.4M-53.7% | $26.3M-27.8% | $26.6M-60.1% | $48.2M+118.8% | $57.0M+71.2% | $36.4M-30.9% | $66.7M+183.1% |
| Current Liabilities | $8.8M+60.4% | $5.3M-2.7% | $7.2M+14.4% | $6.3M+11.1% | $5.5M-31.5% | $5.5M-49.6% | $6.3M-53.0% | $5.7M-52.4% |
| Non-Current Liabilities | $10.5M-75.5% | $21.0M-59.2% | $19.1M-36.6% | $20.3M-66.7% | $42.7M+204.4% | $51.5M+129.9% | $30.1M-23.3% | $61.1M+421.7% |
| Total Equity | $1.5Mn/m | -$8.6Mn/m | -$7.2Mn/m | -$7.1Mn/m | -$40.1Mn/m | -$46.9Mn/m | -$23.5Mn/m | -$53.0Mn/m |
| Retained Earnings | -$39.1Mn/m | -$48.7Mn/m | -$46.3Mn/m | -$45.6Mn/m | -$68.6Mn/m | -$75.0Mn/m | -$51.2Mn/m | -$74.9Mn/m |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
AISPW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $384Kn/m | -$235Kn/m | $814Kn/m | -$3.5Mn/m | -$584Kn/m | -$1.8Mn/m | -$2.1Mn/m | -$2.1Mn/m |
| Depreciation & Amortization | N/A | N/A | N/A | $0n/m | $0n/m | $0n/m | $0-100.0% | $0-100.0% |
| Stock-Based Compensation | N/A | N/A | $666K+55.5% | N/A | N/A | $372K+42.2% | $428K+59.2% | N/A |
| Financing Cash Flow | $0-100.0% | $45Kn/m | $11Kn/m | $9.5M+35.6% | $33K-99.5% | -$685K-172.3% | -$497K-269.6% | $7.0M+105.4% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Investing Cash Flow, Dividends Paid, Share Buybacks.
AISPW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.2%+4.9pp | 75.1%+3.7pp | 49.8%+9.2pp | 51.2%+12.6pp | 51.3%-23.8pp | 71.4%+1.0pp | 40.6%+15.8pp | 38.6%-1.4pp |
| Operating Margin | -9.0% | -36.1%+58.0pp | -24.9%+6.3pp | -9.4%+37.1pp | -243.5% | -94.2%-109.4pp | -31.1%-17.9pp | -46.5%-31.7pp |
| Net Margin | 154.3% | -58.4% | -11.3% | 353.6% | 544.4% | -1106.6% | 430.8% | -1564.8% |
| Return on Equity | 624.4% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 46.3%-32.9pp | -13.6%+222.1pp | -3.8%-187.1pp | 117.9%+484.0pp | 79.1%+10.8pp | -235.7%-583.7pp | 183.3%+869.1pp | -366.1%-639.5pp |
| Current Ratio | 2.30+1.0x | 3.18+1.6x | 2.54+0.7x | 2.94+0.7x | 1.29+0.3x | 1.62+1.2x | 1.85+1.6x | 2.24+1.8x |
| Liabilities-to-Equity | 12.50 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.30+0.2x | 0.230.0x | 0.33-0.1x | 0.33+0.1x | 0.15-0.2x | 0.21-1.0x | 0.43-1.8x | 0.23-0.5x |
Not reported in any period shown, so not listed: 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 the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Where Airship AI Holdings, Inc. Warrants Ranks
Frequently Asked Questions
Airship AI Holdings, Inc. Warrants (AISPW) 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.
Airship AI Holdings, Inc. Warrants (AISPW) revenue declined by 33.5% year-over-year, from $23.1M to $15.3M in fiscal year 2025.
Yes, Airship AI Holdings, Inc. Warrants (AISPW) reported a net income of $29.4M over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net income of $29.3M.
Airship AI Holdings, Inc. Warrants (AISPW) had EBITDA of -$7.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Airship AI Holdings, Inc. Warrants (AISPW) had a gross margin of 50.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
Airship AI Holdings, Inc. Warrants (AISPW) had an operating margin of -47.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
Airship AI Holdings, Inc. Warrants (AISPW) recorded an outflow of $8.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Airship AI Holdings, Inc. Warrants (AISPW) had $19.5M in total assets as of fiscal year 2025, including both current and long-term assets.
Airship AI Holdings, Inc. Warrants (AISPW) invested $3.1M in research and development during fiscal year 2025.
Airship AI Holdings, Inc. Warrants (AISPW) had a current ratio of 2.94 as of fiscal year 2025, which is generally considered healthy.
Airship AI Holdings, Inc. Warrants (AISPW) had a return on assets of 150.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
At the end of fiscal year 2025, Airship AI Holdings, Inc. Warrants (AISPW) 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.
Airship AI Holdings, Inc. Warrants (AISPW) has negative shareholder equity of -$7.1M as of fiscal year 2025, so no debt-to-equity or liabilities-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.
Airship AI Holdings, Inc. Warrants (AISPW) 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.
For every $1 of reported earnings, Airship AI Holdings, Inc. Warrants (AISPW) 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.
Airship AI Holdings, Inc. Warrants (AISPW) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average 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. For Airship AI Holdings, Inc. Warrants it averages the 4 of 6 dimensions that can be computed; the others are left out rather than counted as zero. 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.