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AISP · CIK 0001842566

Airship AI Holdings, Inc.

Annual figures as reported, FY2021–FY2025. Ratios and growth rates derived on-page.

AISP logo
Services-Prepackaged Software
Company profile
Nasdaq · AISPHQ Redmond, WAIncorporated in DEFiscal year ends Dec 31 Emerging growth company
Revenue
$15.3M
▼ −33.5% vs FY2024
Net income
$29.3M
▲ +151.0% vs FY2024
Operating cash flow
−$8.0M
▼ −23.1% vs FY2024
Diluted EPS
$0.76
▲ +132.5% vs FY2024

Revenue

Annual, as reported

010M20M’22’23’24’25$15.3M

Net income

Losses shown in terracotta

−50M−25M025M’21’22’23’24’25$29.3M

Recent quarters

momentum · last 12 quarters
Revenue — Mar ’26 quarter
$6.4M
▲ +15.5% vs Mar ’25
Net income — Mar ’26 quarter
−$721K
▼ −103.0% vs Mar ’25
Revenue — trailing 12 months
$16.2M
▼ −10.0% vs Mar ’25
Diluted EPS — trailing 12 months
$0.13
▲ +139.4% vs Mar ’25

Quarterly revenue

Discrete quarters; Q4 derived from the annual figure

05M10MJun ’23Dec ’23Jun ’24Dec ’24Jun ’25Dec ’25Mar ’26$6.4M

Quarterly net income

Losses shown in terracotta

−40M−20M020MJun ’23Dec ’23Jun ’24Dec ’24Jun ’25Dec ’25Mar ’26−$721K
QuarterRevenueRev. YoYGross marginNet incomeNet marginDiluted EPS
Mar ’26$6.4M15.5%49.8%−$721K−11.3%−$0.02
Dec ’25$6.5M102.5%51.2%$23.0M353.6%$0.75
Sep ’25$1.2M−58.9%51.3%$6.4M544.4%$0.15
Jun ’25$2.1M−66.5%71.4%−$23.8M−1106.6%−$0.75
Mar ’25$5.5M−48.0%40.6%$23.7M430.8%$0.61
Dec ’24$3.2M−23.8%38.6%−$50.2M−1564.8%−$1.72
Sep ’24$2.9M20.3%75.1%$6.2M216.7%$0.17
Jun ’24$6.4M131.1%70.4%$18.5M288.4%$0.61

Profitability & returns

quality of earnings

Margins

Share of revenue kept at each line

-200%0%’22’23’24’25
Gross marginOperating marginNet margin

Returns on capital

Net income vs year-end equity and assets

-400%-200%0%200%’21’22’23’24’25

Cash flow

cash generation

Operating cash flow

Net cash from operations

−7.5M−5M−2.5M0’21’22’23’24’25−$8.0M

Shareholder returns

capital allocation

Diluted shares outstanding

Falling count means buybacks outpace dilution

010M20M30M’21’22’23’24’2539M

Balance sheet

financial position

Stockholders’ equity

At fiscal year end

−40M−20M0’21’22’23’24’25−$7.1M

Net debt

Long-term debt less cash — negative means net cash

−3M−2M−1M0’22’23−$3.1M

Growth rates

compounding, annualized
Revenue CAGR
+1.7%
3y

Key ratios

derived per fiscal year
Fiscal yearGross marginOp. marginNet marginROACurrent ratio
FY202550.2%−47.1%191.4%150.6%2.94×
FY202445.7%−15.2%−249.3%−419.2%2.24×
FY202346.9%−54.0%133.1%268.9%0.40×
FY202257.9%−19.4%−3.4%−12.5%0.33×
FY2021———1.5%10.93×

Annual figures

as reported
Fiscal yearRevenueGross profitOp. incomeNet incomeDiluted EPSOp. cash flowCapexTotal assetsLiabilitiesEquityCashLT debt
FY2025$15.3M$7.7M−$7.2M$29.3M$0.76−$8.0M—$19.5M$26.6M−$7.1M$11.8M—
FY2024$23.1M$10.5M−$3.5M−$57.5M−$2.34−$6.5M—$13.7M$66.7M−$53.0M$11.4M—
FY2023$12.3M$5.8M−$6.6M$16.4M$0.80−$3.3M—$6.1M$23.6M−$17.5M$3.1M$0
FY2022$14.5M$8.4M−$2.8M−$487K—−$2.9M—$3.9M$12.3M−$8.4M$299K$132K
FY2021——−$1.0M$5.0M—−$1.6M—$326.1M$20.4M−$8.4M$1.7M—

Latest filings

the most recent regulatory filings
4FORM 4 FOR 06-03-20262026-06-04 ↗EFFECTSEC filing2026-05-19 ↗CORRESPSEC filing2026-05-15 ↗S-3/ASecurities registration2026-05-14 ↗UPLOADSEC filing2026-05-13 ↗S-3Securities registration2026-05-11 ↗8-KCurrent report — material event2026-05-11 ↗10-QQuarterly report2026-05-08 ↗4FORM 4 FOR 04-20-20262026-05-04 ↗4FORM 4 FOR 04-20-20262026-04-23 ↗

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