Airship AI Reports Third Quarter 2026 Financial Results
Quarterly net income included liability valuation gains, while operations generated $384,000 of cash despite an operating loss.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Airship AI (NASDAQ: AISP) reported third-quarter 2026 revenue of $6.23 million, up 429% from the prior-year quarter.
Gross profit rose 481% to $3.50 million, with a 56.2% gross margin. Operating loss was $561,000, including $555,000 of noncash stock-based compensation. Net income reached $9.62 million, or $0.28 per basic share, supported by $10.18 million of other income, primarily gains from changes in earnout and warrant liability values. Operating cash flow was positive $384,000; cash totaled $12.74 million at September 30.
Firm-fixed-price order backlog was $28.3 million, expected to ship and be invoiced in subsequent quarters. The approximately $215 million opportunity pipeline had expected award timeframes over 18–24 months. The company targets positive operating cash flow for the full year and expects initial customer deployments of its first agentic AI software release around year end.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointQ3 revenue increased 429% year over year to $6.23 million.
- Moderate pointQ3 gross profit increased 481% year over year to $3.50 million; gross margin was 56.2%.
- Moderate pointQ3 net income was $9.62 million, or $0.28 per basic share, supported primarily by liability valuation gains.
- Moderate point. Forward-looking: it has not happened yet and may not happen.$28.3 million backlog comprised awarded firm-fixed-price contracts expected to ship and be invoiced in subsequent quarters. 44% of market cap
- Moderate point. Forward-looking: it has not happened yet and may not happen.Approximately $215 million validated pipeline covered opportunities with expected awards over the next 18–24 months.
11 minor points
- Minor pointQ3 operating cash flow was positive $384,000.
- Minor point. Forward-looking: it has not happened yet and may not happen.Several large pipeline opportunities are anticipated to close between Q4 2026 and Q1 2027.
- Minor pointNine-month revenue rose to $16,708,156 from $8,827,368 in the comparable 2025 period.
- Minor pointNine-month gross profit rose to $9,766,510 from $4,371,357 in the comparable 2025 period.
- Minor pointQ3 product revenue rose to $3,738,712 from $218,568 a year earlier.
- Minor pointQ3 post-contract support revenue rose to $2,482,176 from $956,042 a year earlier.
- Minor pointQ3 other-services revenue rose to $10,185 from $2,840 a year earlier.
- Minor pointCash increased to $12,743,874 at September 30, 2026, from $11,750,021 at December 31, 2025.
- Minor pointStockholders’ equity reached $1,539,743, versus a $7,149,642 deficit at December 31, 2025.
- Minor point. Forward-looking: it has not happened yet and may not happen.Positive full-year operating cash flow remains the company’s target, alongside continued platform investment.
- Minor point. Forward-looking: it has not happened yet and may not happen.Initial agentic AI customer deployments are expected around year end, with broader federal and commercial partner availability to follow.
Negative
- Moderate pointQ3 operating loss was $561,000, including $555,000 of noncash stock-based compensation.
- Minor pointQ3 research and development expense increased to $906,247 from $753,229 a year earlier.
- Minor pointQ3 selling, general and administrative expense increased to $3,157,322 from $2,717,388 a year earlier.
- Minor pointNine-month research and development expense increased to $2,604,139 from $2,213,182 in the comparable 2025 period.
- Minor pointNine-month selling, general and administrative expense increased to $10,795,252 from $8,761,194 in the comparable 2025 period.
4 minor points
- Minor pointNine-month other-services revenue declined to $46,592 from $53,118 in the comparable 2025 period.
- Minor pointBacklog is not indicative of future quarterly revenue; approximately 75% of quarterly revenue is transactional.
- Minor point. Forward-looking: it has not happened yet and may not happen.Anticipated large federal contract vehicles remain subject to government acquisition decisions on timing and ultimate value.
- Minor point. Forward-looking: it has not happened yet and may not happen.Planned sales and business-development investment relies on operating cash flow and potential cash exercises of public warrants.
News Explained
Because about
Key Figures
- Net revenue
- $6.23 million; increase of 429%
- Q3 2026 versus Q3 2025
- Gross profit
- $3.50 million; increase of 481%
- Q3 2026 versus Q3 2025
- Gross margin
- 56.2%
- Q3 2026
- Operating loss
- $561,000
- Q3 2026
- Other income
- $10.18 million
- Q3 2026; primarily fair-value gains on earnout and warrant liabilities
- Net income
- $9.62 million
- Q3 2026
- Net cash provided by operating activities
- $384,000
- Q3 2026
- Backlog
- $28.3 million
- As of September 30, 2026; firm fixed price contracts expected to ship and be invoiced in following quarters
Previous Earnings,AI Reports
-
Prior Q3 paired an operating loss with net income supported largely by fair-value gains.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
firm-fixed price financial
fair value financial
stock-based compensation financial
indefinite delivery/indefinite quantity (idiq) regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Third Quarter 2026 Net Revenues of
Net Revenue Increase of
Backlog of
REDMOND, Wash., Nov. 05, 2026 (GLOBE NEWSWIRE) -- Airship AI Holdings, Inc. (NASDAQ: AISP) (“Airship AI” or the “Company”), an AI software company that turns the video, sensor and enterprise data organizations already collect into real-time operational intelligence for national security, public safety and commercial customers, today reported its financial and operational results for the third quarter ended September 30, 2026.
Q3 2026 Financial Highlights
- Net revenues for the quarter ended September 30, 2026, were
$6.23 million . - Gross profits for the quarter ended September 30, 2026, were
$3.50 million . - Gross profit percentage was
56.2% for the quarter ended September 30, 2026. Higher margins were in part due to increased solution sales with more Airship AI branded hardware and software offerings. - Operating loss was
$561,000 for the quarter ended September 30, 2026 reflected noncash stock-based compensation of$555,000 and increased investments in sales, marketing-related and research and development expenditures which should increase future sales. We operated at a breakeven basis excluding noncash expenses. - Other income for the quarter ended September 30, 2026, was
$10.18 million , primarily due to gains from a change in the fair value of earnout liability of$3.23 million and change in fair value of warrant liability of$6.83 million . - Net income for the quarter ended September 30, 2026, was
$9.62 million , or$0.28 per basic share. - Net cash provided by operating activities was
$384,000 in the quarter ended September 30, 2026. - Cash and cash equivalents was
$12.74 million and accounts receivable was$6.28 million , each as of September 30, 2026.
Q3 2026 & Subsequent Operational Highlights
- Backlog as of September 30, 2026 was
$28.3 million , representing firm fixed price contracts that are expected to be shipped and invoiced in the following quarter(s). Backlog is not indicative of future quarterly revenue as approximately75% of quarterly revenue is transactional and recognized in the same quarter. - Our total validated pipeline at the end of the quarter was approximately
$215 million , consisting of single and multi-year opportunities for AI-driven edge, video, and sensor and data management platform across all our customer verticals. Our pipeline includes opportunities at varying stages of progression with expected award timeframes throughout the next 18-24 months. - Progressed several of our largest opportunities in the existing pipeline that are anticipated to close between the fourth quarter of 2026 and first quarter of 2027. These opportunities are tied to funded procurement efforts within the Department of Homeland Security (DHS) supporting homeland security priorities for the agency as part of the current administration’s efforts to strengthen border security and protect the homeland.
- Saw continued partner adoption and pipeline growth in our commercial business (defined as new business going through business partners or integrators) as our new Director of Commercial Sales and Director of Federal Business Development were able to continue to grow brand awareness and increase brand visibility.
- Due to the sensitive nature of many of our customers and deployment use cases, we are often restricted from publicly disclosing awards and / or limited as to the specifics of the customer and use case. Consequently, most of our awards are executed on closed or restricted contract vehicles, which further limits the sharing of information that might otherwise be available.
2026 Outlook
- Capitalize on growing momentum in the current fiscal year around long-term business development efforts that are forecasted to be funded in 2026 through the One Big Beautiful Bill Act (OB3).
- Maintain focus on improving gross margin percentages supporting our goal of cash flow positive operations by the end of 2026.
- Continue tactical and strategic investments across our sales and business development organizations through organic cash flow from business operations and the potential cash exercise of public warrants.
- Continue training and refinement of our edge (Outpost AI) and datacenter / cloud (Fortress AI) based analytic platforms supporting emerging edge analytic workflows.
- Launch the first release of our agentic AI software, now the largest share of our development effort, which enables users to extract operational intelligence from existing video, sensor and enterprise data systems using natural language, with initial customer deployments expected around year end.
- Continue innovation across our core Acropolis software platform supporting new workflows for cloud-based deployments in highly secure operational environments.
- Expand brand awareness engagements in new verticals through targeted marketing outreach opportunities, social media platforms, Airship AI hosted technology events, and industry tradeshow events.
Management Commentary
“The third quarter further demonstrated our ability to execute against a growing pipeline of opportunities while strengthening Airship AI’s position as a trusted provider of mission-critical artificial intelligence solutions across the federal government,” said Paul Allen, President of Airship AI. “The awards announced during the quarter reflect more than continued demand for our technology; they demonstrate the increasing adoption of our purpose-built platforms within established programs of record and emerging operational initiatives. We believe this represents an important evolution in our business as we expand beyond individual deployments toward broader, enterprise-scale opportunities supporting the agencies responsible for protecting our homeland.
“Notable components of these awards included substantial orders for our Outpost AI edge appliance, leveraging our advanced edge analytics capabilities both as a standalone platform and as an integrated component of larger systems and programs of record. We also experienced meaningful demand for our Fortress AI server-side analytics platform, delivering enterprise-scale processing capabilities designed to analyze hundreds to thousands of concurrent data sources in real time. Together, these platforms provide a complementary, distributed AI architecture that enables intelligence to be generated at the edge, processed at enterprise scale, and integrated into existing operational systems. We believe this architecture represents a significant competitive differentiator as federal agencies increasingly seek scalable, interoperable AI capabilities that enhance existing infrastructure rather than require costly replacement of legacy investments.
“One of the most compelling aspects of our current opportunity is the potential to expand our footprint within agencies and programs where our technology is already deployed. As customers continue to operationalize our solutions, we believe we are increasingly positioned to support additional mission requirements, broader geographic deployments, and larger enterprise-wide implementations. This expansionary opportunity is complemented by new pilot programs that introduce our technology into additional operational environments and establish potential pathways toward future production deployments. Our strategy remains focused on leveraging proven capabilities, existing customer relationships, and established integration frameworks to expand our presence within some of the federal government's most important operational programs.
“During the quarter, we also hosted our annual customer engagement event, bringing together more than 100 federal law enforcement customers for a week of hands-on training, technology demonstrations, and strategic discussions. This represented our largest and most successful event to date, with participation spanning senior agency leadership to frontline operational personnel. Beyond demonstrating our currently deployed capabilities, the event provided direct insight into evolving mission requirements and substantial engagement around emerging technologies, including our next-generation agentic AI software offerings. We believe the evolution from traditional video analytics toward increasingly autonomous, AI-driven operational workflows represents a natural extension of our existing technology platforms and an important opportunity to expand the value we deliver to our customers.
“Looking ahead to the fourth quarter, our immediate priority remains executing against our approximately
“Supported by a strong balance sheet and significant order backlog, we remain focused on achieving positive cash flow from operations for the full year while continuing to strategically invest in our platforms, expand our technology capabilities, and support emerging AI-driven requirements across federal and commercial markets. As we approach 2027, we believe Airship AI is entering an increasingly important phase of its growth trajectory. We have established a foundation of differentiated technology, trusted customer relationships, and operational deployments that we believe positions us to pursue significantly larger programs and broader enterprise adoption. With growing demand for both edge and enterprise AI capabilities, an expanding set of funded federal initiatives, and a strong backlog providing visibility into future deliveries, we believe we are well positioned to scale our business, pursue greater operating leverage, and capitalize on what we see as a substantial long-term market opportunity,” concluded Mr. Allen.
Victor Huang, Chairman and CEO of Airship AI, added, “The third quarter shows the core business doing what it should: growing, funding itself, and funding what comes next. What comes next is our agentic AI software layer, which now represents the largest share of our development effort. It sits on top of the cameras, video management and access-control systems our customers already own, and lets them ask questions of that data in plain language and act on the answers, without ripping anything out. We expect to put a first release in the hands of initial customers around year end, with broader federal and commercial partner availability to follow. Over time, we believe this changes what customers pay us for: less for licenses and hardware, and more for the operating results our software delivers.”
About Airship AI Holdings, Inc.
Founded in 2006, Airship AI (NASDAQ: AISP) is a U.S. owned and operated technology company headquartered in Redmond, Washington. Airship AI builds AI software that turns the video, sensor and enterprise data organizations already collect into real-time operational intelligence and action for national security, public safety and commercial customers. The Airship AI platform runs at the edge, in the datacenter or in the cloud, and works on top of the cameras and systems customers already own. Airship AI’s product suite includes Outpost AI edge hardware and software offerings, Fortress AI enterprise-scale analytics servers, Acropolis enterprise management software stack, Command family of visualization tools, and an emerging agentic AI software layer that lets users extract operational intelligence from existing video, sensor and enterprise data systems using natural language.
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 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) the projected technological developments of Airship AI; and (4) current and future potential commercial and customer relationships. 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” in its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 17, 2026, 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
| AIRSHIP AI HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS As of September 30, 2026 and December 31, 2025 | ||||||||
| September 30, 2026 | December 31, 2025 (1) | |||||||
| ASSETS | Unaudited | |||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 12,743,874 | $ | 11,750,021 | ||||
| Accounts receivable, net of allowance for credit losses of | 6,284,000 | 6,462,675 | ||||||
| Inventory | 1,078,859 | - | ||||||
| Prepaid expenses and other | 23,884 | 294,191 | ||||||
| Total current assets | 20,130,617 | 18,506,887 | ||||||
| OTHER ASSETS | ||||||||
| Other assets | 160,528 | 160,528 | ||||||
| Operating lease right of use asset | 494,427 | 807,915 | ||||||
| TOTAL ASSETS | $ | 20,785,572 | $ | 19,475,330 | ||||
| LIABILITIES AND STOCKHOLDERS' DEFICIT | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Accounts payable - trade | $ | 1,233,300 | $ | 1,149,811 | ||||
| Accrued expenses | 158,146 | 27,966 | ||||||
| Current portion of operating lease liability | 473,336 | 438,635 | ||||||
| Deferred revenue- current portion | 6,903,060 | 4,668,105 | ||||||
| Total current liabilities | 8,767,842 | 6,284,517 | ||||||
| NON-CURRENT LIABILITIES: | ||||||||
| Operating lease liability, net of current portion | 66,039 | 425,109 | ||||||
| Warrant liability | 5,831,002 | 13,328,006 | ||||||
| Earnout liability | 309,204 | 2,620,933 | ||||||
| Deferred revenue- non-current | 4,271,742 | 3,966,407 | ||||||
| Total liabilities | 19,245,829 | 26,624,972 | ||||||
| COMMITMENTS AND CONTINGENCIES (Note 8) | ||||||||
| STOCKHOLDERS' EQUITY (DEFICIT): | ||||||||
| Preferred stock - no par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of September 30, 2026 and December 31, 2025 | - | - | ||||||
| Common stock - | 3,441 | 3,434 | ||||||
| Additional paid in capital | 40,705,777 | 38,478,030 | ||||||
| Accumulated deficit | (39,132,825 | ) | (45,620,227 | ) | ||||
| Accumulated other comprehensive loss | (36,650 | ) | (10,879 | ) | ||||
| Total stockholders' equity (deficit) | 1,539,743 | (7,149,642 | ) | |||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $ | 20,785,572 | $ | 19,475,330 | ||||
| AIRSHIP AI HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the three and nine months ended September 30, 2026 and 2025 (Unaudited) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | |||||||||||||
| Unaudited | Unaudited | Unaudited | Unaudited | |||||||||||||
| NET REVENUES: | ||||||||||||||||
| Product | $ | 3,738,712 | $ | 218,568 | $ | 10,185,167 | $ | 4,989,261 | ||||||||
| Post contract support | 2,482,176 | 956,042 | 6,476,397 | 3,784,989 | ||||||||||||
| Other services | 10,185 | 2,840 | 46,592 | 53,118 | ||||||||||||
| 6,231,073 | 1,177,450 | 16,708,156 | 8,827,368 | |||||||||||||
| COST OF NET REVENUES: | ||||||||||||||||
| Cost of sales | 2,200,148 | 203,182 | 5,455,992 | 3,406,130 | ||||||||||||
| Post contract support | 494,007 | 337,001 | 1,401,269 | 1,000,109 | ||||||||||||
| Other services | 34,002 | 33,431 | 84,385 | 49,772 | ||||||||||||
| 2,728,157 | 573,614 | 6,941,646 | 4,456,011 | |||||||||||||
| GROSS PROFIT | 3,502,916 | 603,836 | 9,766,510 | 4,371,357 | ||||||||||||
| RESEARCH AND DEVELOPMENT EXPENSES | 906,247 | 753,229 | 2,604,139 | 2,213,182 | ||||||||||||
| SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 3,157,322 | 2,717,388 | 10,795,252 | 8,761,194 | ||||||||||||
| TOTAL OPERATING EXPENSES | 4,063,569 | 3,470,617 | 13,399,391 | 10,974,376 | ||||||||||||
| OPERATING LOSS | (560,653 | ) | (2,866,781 | ) | (3,632,881 | ) | (6,603,019 | ) | ||||||||
| OTHER INCOME: | ||||||||||||||||
| Gain from change in fair value of earnout liability | 3,231,048 | 3,892,874 | 2,311,729 | 6,414,894 | ||||||||||||
| Gain from change in fair value of warrant liability | 6,830,603 | 5,331,239 | 7,497,004 | 6,358,238 | ||||||||||||
| Interest income, net | 113,568 | 52,541 | 311,549 | 190,694 | ||||||||||||
| Total other income, net | 10,175,219 | 9,276,654 | 10,120,282 | 12,963,826 | ||||||||||||
| INCOME BEFORE PROVISION FOR INCOME TAXES | 9,614,566 | 6,409,873 | 6,487,401 | 6,360,807 | ||||||||||||
| Provision for income taxes | - | - | - | - | ||||||||||||
| NET INCOME | 9,614,566 | 6,409,873 | 6,487,401 | 6,360,807 | ||||||||||||
| OTHER COMPREHENSIVE (LOSS) | ||||||||||||||||
| Foreign currency (loss), net | (5,668 | ) | - | (25,771 | ) | (7,409 | ) | |||||||||
| TOTAL COMPREHENSIVE INCOME | $ | 9,608,898 | $ | 6,409,873 | $ | 6,461,630 | $ | 6,353,398 | ||||||||
| NET INCOME PER SHARE: | ||||||||||||||||
| Basic | $ | 0.28 | $ | 0.20 | $ | 0.19 | $ | 0.20 | ||||||||
| Diluted | $ | 0.25 | $ | 0.15 | $ | 0.17 | $ | 0.15 | ||||||||
| Weighted average shares of common stock outstanding | ||||||||||||||||
| Basic | 34,439,562 | 31,970,364 | 34,419,266 | 31,850,348 | ||||||||||||
| Diluted | 38,902,312 | 41,972,357 | 38,902,312 | 41,672,396 | ||||||||||||
| AIRSHIP AI HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the nine months ended September 30, 2026 and 2025 (Unaudited) | ||||||||
| Nine Months Ended | ||||||||
| September 30, 2026 | September 30, 2025 | |||||||
| Unaudited | Unaudited | |||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
| Net income | $ | 6,487,401 | $ | 6,360,807 | ||||
| Adjustments to reconcile net income (loss) to net cash provided by | ||||||||
| (used in) operating activities | ||||||||
| Stock-based compensation | 2,171,297 | 1,155,845 | ||||||
| Amortization of operating lease right of use asset | 313,488 | 278,334 | ||||||
| (Gain) from change in fair value of warrant liability | (7,497,004 | ) | (6,358,238 | ) | ||||
| (Gain) from change in fair value of earnout liability | (2,311,729 | ) | (6,414,894 | ) | ||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | 178,675 | (20,564 | ) | |||||
| Inventory | (1,078,859 | ) | - | |||||
| Prepaid expenses and other | 270,307 | (13,548 | ) | |||||
| Other Assets | - | 5,432 | ||||||
| Operating lease liability | (324,368 | ) | (281,169 | ) | ||||
| Accounts payable - trade and accrued expenses | 213,669 | (425,841 | ) | |||||
| Deferred revenue | 2,540,290 | 1,211,415 | ||||||
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 963,167 | (4,502,421 | ) | |||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
| Proceeds from warrant exercise, net | 10 | 59,850 | ||||||
| Repayment of advances from founders | - | (1,300,000 | ) | |||||
| Proceeds from stock option exercises | 56,447 | 90,811 | ||||||
| NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 56,457 | (1,149,339 | ) | |||||
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 1,019,624 | (5,651,760 | ) | |||||
| Effect from exchange rate on cash | (25,771 | ) | (7,409 | ) | ||||
| CASH AND CASH EQUIVALENTS, beginning of period | 11,750,021 | 11,414,830 | ||||||
| CASH AND CASH EQUIVALENTS, end of period | $ | 12,743,874 | $ | 5,755,661 | ||||
| Supplemental disclosures of cash flow information: | ||||||||
| Interest paid | $ | - | $ | - | ||||
| Taxes paid | $ | - | $ | - | ||||
| Noncash investing and financing | ||||||||
| Issuance of common stock for earnout shares | $ | - | $ | 5,282,125 | ||||
| Recognition of operating right-of-use asset | $ | - | $ | 304,339 | ||||
| Recognition of operating lease liability | $ | - | $ | 304,339 | ||||
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Airship AI’s third-quarter 2026 financial results?
Airship AI reported $6.23 million in revenue and $9.62 million in net income, or $0.28 per basic share. Revenue increased 429% year over year. The company recorded a $561,000 operating loss; net income benefited primarily from gains on changes in earnout and warrant liability values.
How much backlog did Airship AI have at September 30, 2026?
Airship AI had $28.3 million of firm-fixed-price order backlog at September 30, 2026, expected to be shipped and invoiced in subsequent quarters. Backlog is not indicative of future quarterly revenue because approximately 75% of quarterly revenue is transactional and recognized in the same quarter.
What drove Airship AI’s third-quarter 2026 gross margin?
Airship AI attributed its 56.2% gross margin partly to increased solution sales containing more Airship AI-branded hardware and software. Third-quarter gross profit was $3.50 million, up 481% from the prior-year quarter.
Why does Airship AI limit disclosure of some contract awards?
Airship AI is often restricted from disclosing awards or customer and deployment details because of the sensitive nature of customer use cases. Most awards are executed through closed or restricted contract vehicles, further limiting information that can be shared publicly.