Airship AI SEC Filings

Airship AI Holdings, Inc. Chief Financial Officer Mark E. Scott reported an award of options for 50,000 shares on March 4, 2026. The options carry a stated exercise price of $0.0000 per share and, according to a footnote, vest quarterly over four years.

Following this grant, Scott directly holds various option positions, including blocks of 100,000, 50,000, and 30,000 options, as well as 43,952 shares of common stock. He also has indirect interests in 14,650 earnout rights and 25,000 options through entities he controls, where he has voting and dispositive power but disclaims beneficial ownership beyond his pecuniary interest. The earnout rights may convert into common stock if specified operating and share price milestones in a merger agreement are achieved while he continues serving the company.

Airship AI Holdings, Inc. President Paul M. Allen reported an award of 59,000 options to purchase common stock on March 4, 2026 at an exercise price of $0.00 per share. These options vest quarterly over 4 years. After this grant, he directly holds 835,058 options, 151,948 shares of common stock, and 155,843 earnout rights that may convert into shares if specified operating and share price performance milestones in the merger agreement are met.

Airship AI Holdings reported strong fourth quarter 2025 growth but weaker full-year sales. Q4 net revenues were $6.5 million, up 102% from the prior-year quarter, with gross profit of $3.3 million and a gross margin of 51.2%, helped by higher-margin branded hardware and software.

The company recorded an operating loss of $612,000 in Q4 as it increased stock-based compensation and spending on sales and marketing. Other income of $23.6 million, mainly from gains on earnout and warrant liabilities, contributed to full-year 2025 net income of $29.3 million, or $0.90 per basic share, compared with a large loss in 2024.

For 2025, net revenues were $15.3 million, down from $23.1 million a year earlier, and operating loss widened to $7.2 million. Year-end cash was $11.8 million with accounts receivable of $6.5 million. Backlog was $3.3 million, and the validated sales pipeline was about $173 million, including new awards such as a $1.9 million DHS contract and a $2.8 million commercial contract.

Airship AI Holdings, Inc. received an amended Schedule 13G/A from Highbridge Capital Management, LLC, which reports beneficial ownership of 1,708,795 shares of common stock issuable upon exercise of warrants. This position represents 4.8% of the common stock class, based on 34,175,563 shares outstanding as of November 14, 2025.

Highbridge, a Delaware investment adviser to certain funds and accounts, reports sole voting and dispositive power over these warrant shares. The Highbridge Funds have the right to receive dividends or sale proceeds from the reported shares. The filing states the securities are held in the ordinary course of business and not for the purpose of influencing control of Airship AI.

Airship AI Holdings, Inc. provides AI-driven edge data management for government and commercial customers, structuring video and sensor data in real time through its Outpost AI, Acropolis and Airship Command platforms. The company focuses on law enforcement, defense, intelligence and large commercial deployments, often under multi‑year contracts that bundle hardware, software and services.

As of June 30, 2025, non‑affiliate equity market value was $68,575,909, and as of February 13, 2026, common shares outstanding were 34,372,162. Results are highly concentrated: in 2025, four customers generated 87% of revenue, while 2024 relied on a single customer for 57%. Backlog was $3.3 million with a validated pipeline of $173.4 million across federal and commercial opportunities.

Airship reported 2025 net income of $29.3 million, driven largely by non‑cash fair value gains on warrant and earnout liabilities, but still had an accumulated deficit of $45.6 million and acknowledges a need for additional capital to fund growth. The company highlights awards including $1.9 million from the Department of Homeland Security and $2.8 million from a large commercial customer, while cautioning about risks such as a nascent edge‑AI market, intense competition, supply‑chain exposure, heavy customer concentration, cybersecurity threats, reliance on trade secrets instead of patents, and the possibility that it may not achieve or sustain profitability.

Airship AI Holdings, Inc. (AISPW) Form 4 summary: Director Amit Mital reported multiple changes in beneficial ownership. The filing shows a sale of 11,281 shares of common stock and the acquisition of 50,000 stock options on 09/03/2025 with a $4.25 exercise price and a 09/03/2035 expiration. The reporting person continues to hold previously issued options exercisable through 2033 covering 203,061 shares and 33,844 earnout right shares subject to performance milestones. The newly acquired options vest quarterly over four years and were reported as acquired for $0 price in the Form 4.

Airship AI Holdings, Inc. (AISPW) submitted a Form 144 notifying the proposed sale of 100,000 shares of common stock through Charles Schwab & Co., with an aggregate market value of $586,000. The notice shows the shares were acquired as founder shares on 12/31/2010 from the issuer and lists an approximate sale date of 09/22/2025 on NASDAQ. The filer reports no securities sold in the past three months and includes the standard representation that the seller is not aware of undisclosed material adverse information.