On May 15, 2024, Airship AI Holdings, Inc., also known as Airship AI, filed a Form 8-K with the SEC, announcing its financial results for the first quarter of 2024, which ended on March 31, 2024. The company reported net revenues of $10.6 million, an 84.5% increase from the full year of 2023, and gross profits of $2.6 million with a gross margin of 25%. Despite an operating loss of $1.4 million, attributed to higher insurance costs and professional fees, the company highlighted its strong performance and continued investment in marketing and sales. Airship AI also reported an other loss of $30.6 million, primarily due to changes in warrant liability and earnout liability. The company's cash and cash equivalents stood at $1.7 million as of March 31, 2024. Notably, Airship AI secured a second...Show More

On May 15, 2024, Airship AI Holdings, Inc., also known as Airship AI, filed a Form 8-K with the SEC, announcing its financial results for the first quarter of 2024, which ended on March 31, 2024. The company reported net revenues of $10.6 million, an 84.5% increase from the full year of 2023, and gross profits of $2.6 million with a gross margin of 25%. Despite an operating loss of $1.4 million, attributed to higher insurance costs and professional fees, the company highlighted its strong performance and continued investment in marketing and sales. Airship AI also reported an other loss of $30.6 million, primarily due to changes in warrant liability and earnout liability. The company's cash and cash equivalents stood at $1.7 million as of March 31, 2024. Notably, Airship AI secured a second contract from a Department of Justice agency worth $2.35 million for its Outpost AI Appliance, and it continues to deliver on a $10.9 million contract awarded by the Department of Homeland Security in September 2023. The company's management remains focused on achieving triple-digit revenue growth and positive cash flow for 2024, supported by a strong pipeline of opportunities and strategic investments in sales and business development.