Airship AI Holdings, Inc. Warrants (AISPW) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 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 $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).
Operating losses persist while financing inflows and non-operating swings—not core operations—shape reported earnings and liquidity.
The sharp change from a-$57.5M net loss in FY2024 to$29.3M net income in FY2025 is not an operating turnaround: the business still posted an operating loss. Its operating margin was-47.1% while operating cash flow was-$8.0M , indicating that reported earnings remain disconnected from cash economics.
Revenue fell to
Financing supplied
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. 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 22/100. 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 69/100.
Not available for Airship AI Holdings, Inc. Warrants, and counted as zero in the overall score.
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, and counted as zero in the overall score.
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 efficiency signals pass.
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.
Airship AI Holdings, Inc. Warrants 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. Warrants generated $4.1M in revenue in Q2 2026. This represents an increase of 92.1% from the same quarter a year earlier. Against the prior quarter it is down 35.1%.
Airship AI Holdings, Inc. Warrants reported -$2.4M in net income in Q2 2026. This represents an increase of 89.9% from the same quarter a year earlier. Against the prior quarter it is down 234.0%.
Airship AI Holdings, Inc. Warrants earned -$0.07 per diluted share (EPS) in Q2 2026. This represents an increase of 90.7% from the same quarter a year earlier. Against the prior quarter it is down 250.0%.
Not reported for Q2 2026.
Cash & Balance Sheet
Airship AI Holdings, Inc. Warrants held $12.4M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Airship AI Holdings, Inc. Warrants's gross margin was 75.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 3.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 25.3 percentage points.
Airship AI Holdings, Inc. Warrants's operating margin was -36.1% in Q2 2026, reflecting core business profitability. This is up 58.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 11.3 percentage points.
Airship AI Holdings, Inc. Warrants's net profit margin was -58.4% in Q2 2026, showing the share of revenue converted to profit. Against the prior quarter it is down 47.0 percentage points. No change is given against Q2 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q2 2026.
Capital Allocation
Airship AI Holdings, Inc. Warrants invested $854K in research and development in Q2 2026. This represents an increase of 15.3% from the same quarter a year earlier. Against the prior quarter it is up 1.2%.
Not reported for Q2 2026.
Not reported for Q2 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $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% | $2.9M+20.3% |
| Cost of Revenue | $576K+110.6% | $2.7M-8.3% | $2.8M+90.0% | $203K-28.8% | $274K-79.0% | $2.9M-62.5% | $1.5M-33.3% | $285K-35.1% |
| Gross Profit | $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% | $2.2M+34.4% |
| R&D Expenses | $854K+15.3% | $844K+17.3% | $863K+159.2% | $753K-29.8% | $741K+5.4% | $719K+3.5% | $333K-52.5% | $1.1M+55.9% |
| SG&A Expenses | $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% | $2.7M+24.5% |
| Operating Income | -$1.5M+26.3% | -$1.6M+7.7% | -$613K+58.9% | -$2.9M-80.6% | -$2.0M-307.1% | -$1.7M-22.2% | -$1.5M-138.8% | -$1.6M-29.1% |
| EBITDA | N/A | N/A | -$613K+58.9% | -$2.9M-80.6% | -$2.0M-307.1% | -$1.7M-22.4% | -$1.5M-140.3% | -$1.6M-29.5% |
| Interest Expense | $110K+81.9% | $88K+13.1% | $92K+105.8% | $53K-60.7% | $61K-85.6% | $78K+143.7% | -$1.6M-74037.2% | $134K+296.4% |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$2.4M+89.9% | -$721K-103.0% | $23.0M+145.8% | $6.4M+3.2% | -$23.8M-228.7% | $23.7M+174.2% | -$50.2M-401.4% | $6.2M+472.9% |
| EPS (Basic) | -$0.07+90.7% | -$0.02-102.7% | $0.70+134.5% | $0.20-20.0% | -$0.75-193.8% | $0.75+153.6% | -$2.03-237.2% | $0.25+457.1% |
| EPS (Diluted) | -$0.07+90.7% | -$0.02-103.3% | $0.61 | $0.15-11.8% | -$0.75-223.0% | $0.61 | -$2.03 | $0.17 |
| Diluted Shares (Avg) | 34M+8.0% | 34M-11.4% | N/A | 42M+18.4% | 32M+5.3% | 39M | N/A | 35M |
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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $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% | $9.1M-64.0% |
| Current Assets | $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% | $8.0M+20471.7% |
| Cash & Equivalents | $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% | $6.5M+34646.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $844K | N/A | $0 | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $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% | $1.1M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $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% | $22.0M-41.3% |
| Current Liabilities | $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% | $8.0M+160.3% |
| Non-Current Liabilities | $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% | $14.0M-59.3% |
| Total Equity | -$8.6M+81.6% | -$7.2M+69.4% | -$7.1M+86.5% | -$40.1M-210.2% | -$46.9M-67.6% | -$23.5M+51.1% | -$53.0M-203.2% | -$12.9M-5.7% |
| Retained Earnings | -$48.7M+35.0% | -$46.3M+9.5% | -$45.6M+39.1% | -$68.6M-176.9% | -$75.0M-142.1% | -$51.2M-3.6% | -$74.9M-328.8% | -$24.8M-36.8% |
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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$235K+87.1% | $814K+138.8% | -$3.5M-66.3% | -$584K-132.1% | -$1.8M+25.7% | -$2.1M-23.8% | -$2.1M-174.4% | -$251K+85.9% |
| Depreciation & Amortization | N/A | N/A | $0 | $0 | $0 | $0-100.0% | $0-100.0% | $0-100.0% |
| Stock-Based Compensation | N/A | $666K+55.5% | N/A | N/A | $372K+42.2% | $428K+59.2% | N/A | $273K |
| Financing Cash Flow | $45K+106.6% | $11K+102.3% | $9.5M+35.6% | $33K-99.5% | -$685K-172.3% | -$497K-269.6% | $7.0M+105.4% | $6.5M+12980.0% |
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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 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 | 75.1%+7.9pp |
| Operating Margin | -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 | -55.4%-3.8pp |
| Net Margin | -58.4% | -11.3% | 353.6% | 544.4% | -1106.6% | 430.8% | -1564.8% | 216.7% |
| Return on Assets | -13.6%+222.1pp | -3.8%-187.1pp | 117.9%+483.9pp | 79.1%+10.8pp | -235.7%-583.7pp | 183.3%+869.1pp | -366.1%-639.5pp | 68.3%+74.9pp |
| Current Ratio | 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 | 1.00+1.0x |
| Asset Turnover | 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 | 0.32+0.2x |
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.
Where Airship AI Holdings, Inc. Warrants Ranks
Frequently Asked Questions
What is Airship AI Holdings, Inc. Warrants's annual revenue?
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.
How fast is Airship AI Holdings, Inc. Warrants's revenue growing?
Airship AI Holdings, Inc. Warrants (AISPW) revenue declined by 33.5% year-over-year, from $23.1M to $15.3M in fiscal year 2025.
Is Airship AI Holdings, Inc. Warrants profitable?
Yes, Airship AI Holdings, Inc. Warrants (AISPW) reported a net income of $29.3M in fiscal year 2025.
What is Airship AI Holdings, Inc. Warrants's EBITDA?
Airship AI Holdings, Inc. Warrants (AISPW) had EBITDA of -$7.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Airship AI Holdings, Inc. Warrants's gross margin?
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.
What is Airship AI Holdings, Inc. Warrants's operating margin?
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.
What is Airship AI Holdings, Inc. Warrants's operating cash flow?
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.
What are Airship AI Holdings, Inc. Warrants's total assets?
Airship AI Holdings, Inc. Warrants (AISPW) 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. Warrants spend on research and development?
Airship AI Holdings, Inc. Warrants (AISPW) invested $3.1M in research and development during fiscal year 2025.
What is Airship AI Holdings, Inc. Warrants's current ratio?
Airship AI Holdings, Inc. Warrants (AISPW) had a current ratio of 2.94 as of fiscal year 2025, which is generally considered healthy.
What is Airship AI Holdings, Inc. Warrants's return on assets (ROA)?
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.
How does Airship AI Holdings, Inc. Warrants's liquidity compare with its operating cash outflow?
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.
Why is Airship AI Holdings, Inc. Warrants's debt-to-equity ratio negative or not reported?
Airship AI Holdings, Inc. Warrants (AISPW) 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. Warrants's Piotroski F-Score?
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.
Are Airship AI Holdings, Inc. Warrants's earnings high quality?
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.
Can Airship AI Holdings, Inc. Warrants cover its interest payments?
Airship AI Holdings, Inc. Warrants (AISPW) 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. Warrants?
Airship AI Holdings, Inc. Warrants (AISPW) scores 31 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.