Airship AI Announces Significant Sole-Source Contract Award within the Department of Justice for Acropolis Enterprise Video and Data Management Platform
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Airship AI Holdings, Inc.'s recent contract with a Department of Justice agency signifies a strategic extension of its business within the government sector. This development is likely to bolster the company's credibility and market position, given the stringent security and operational standards required by federal agencies. The FedRAMP certification mentioned is a pivotal endorsement, as it is a prerequisite for cloud services providers to work with the U.S. government, ensuring their products meet high cybersecurity standards.
The adoption of the Acropolis platform by a second U.S. Government agency not only demonstrates trust in Airship AI's technology but also suggests potential for further expansion within the government sector. This could lead to increased stability in revenue streams for Airship AI, as government contracts are typically long-term and provide consistent revenue. The company's mention of a 'strong pipeline for 2024' implies a robust growth outlook, which may attract investors seeking companies with secure future earnings.
The deployment of Airship AI's Acropolis platform in a FedRAMP certified cloud environment is a critical milestone. FedRAMP, the Federal Risk and Authorization Management Program, sets a comprehensive framework for security assessment and continuous monitoring. Achieving this certification is non-trivial; it involves rigorous evaluations of a company's data encryption, access controls and incident response protocols, among other criteria.
For stakeholders, this means that Airship AI is positioned at the forefront of data security, an increasingly vital aspect of government operations. The company's capability to manage sensor data securely from edge devices to the cloud is essential in today's data-driven environment, where the integrity and security of information are paramount. This could potentially lead to a competitive advantage in the market as cybersecurity becomes a key differentiator for clients in both public and private sectors.
The contract award from the DOJ to Airship AI could have a material impact on the company’s financial performance. Government contracts often come with higher margins due to the complexity and security requirements involved. Furthermore, being awarded such contracts typically indicates a company's strong operational capabilities and can lead to additional contracts, creating a multiplier effect on revenue.
Investors should monitor Airship AI's upcoming financial statements for increases in revenue and possibly margins, which could be indicative of the contract's impact. However, it is also important to consider the upfront costs associated with meeting federal requirements, which may affect short-term profitability. Long-term, the investment in FedRAMP certification and the infrastructure to support government contracts could result in significant returns, given the longevity and renewability of such agreements.
First Agency within the Department of Justice to Deploy Acropolis in FedRAMP Environment & Positions the Company for Additional Awards
REDMOND, Wash., March 05, 2024 (GLOBE NEWSWIRE) -- Airship AI Holdings, Inc. (NASDAQ: AISP) (“Airship AI” or the “Company”), a leader in AI-driven video, sensor, and data management surveillance solutions, has been awarded a large contract to an agency within the Department of Justice (DOJ) for the Company’s Acropolis Enterprise Sensor Management video and data management platform supporting emerging public safety and investigative requirements.
“This award represents an expansion of a pilot program started with the agency in 2023, validating our ability to meet demanding agency operational and security requirements,” said Paul Allen, President of Airship AI. “Equally as exciting is this project represents the second U.S. Government agency to deploy our Acropolis platform in a FedRAMP certified cloud environment, a government-wide program that provides a standardized approach to security assessment, authorization, and continuous monitoring for cloud products and services.”
Airship AI’s Acropolis backend enterprise management system enables customers to manage devices and sensors across their entire digital eco-system, directly to the cloud or through Airship AI’s Outpost AI Edge Appliance. Built on the NVIDIA Jetson platform, Outpost AI provides advanced analytic processing at the edge, along with highly efficient video and metadata encoding and encryption over various RF and network backhauls back to the cloud.
“Reflected in our strong pipeline for 2024, Airship AI is actively working to drive digital transformation for video and sensor data from the edge to the cloud across the U.S. Government and with governments around the world, by empowering front-line operators and data consumers to leverage the latest in AI and sensor management capabilities,” concluded Mr. Allen.
To experience how Airship AI and its suite of enterprise video and data management solutions can help your organization solve your complex video and data management challenges please email your request to info@airship.ai.
About Airship AI Holdings, Inc.
Founded in 2006, Airship AI is a U.S. owned and operated technology company headquartered in Redmond, Washington. Airship AI is an AI-driven video, sensor and data management surveillance platform that improves public safety and operational efficiency for public sector and commercial customers by providing predictive analysis of events before they occur and meaningful intelligence to decision makers. Airship AI’s product suite includes Outpost AI edge hardware and software offerings, Acropolis enterprise management software stack, and Command family of visualization tools.
For more information, visit https://airship.ai.
Forward-Looking Statements
The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements include, but are not limited to, (1) statements regarding estimates and forecasts of other financial, performance and operational metrics and projections of market opportunity; (2) changes in the market for Airship AI’s services and technology, expansion plans and opportunities; (3) Airship AI’s unit economics; (5) the projected technological developments of Airship AI; (6) current and future potential commercial and customer relationships; (7) the ability to operate efficiently at scale; (8) anticipated investments in capital resources and research and development, and the effect of these investments; (9) the ability of the Company to issue equity or equity-linked securities in the future; and (10) the inability to maintain the listing of the Company’s common stock and warrants on Nasdaq. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Airship AI’s management and are not predictions of actual performance. These forward-looking statements are also subject to a number of risks and uncertainties, as set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Registration Statement on Form S-4, filed with the SEC on September 11, 2023, as amended from time to time, and the other documents that the Company has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while it may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Investor Contact:
Chris Tyson/Larry Holub
MZ North America
949-491-8235
AISP@mzgroup.us
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