Core Insights - Airship AI Holdings, Inc. has been awarded a $4.0 million contract from the Department of Homeland Security for its AI-driven surveillance solutions [1][2] - The contract supports the agency's efforts to enhance public safety and address challenges such as human trafficking and narcotics smuggling [2] - Airship AI's technology aims to transform traditional sensors into smart sensors, improving operational efficiency without the need for costly replacements [3] Company Overview - Airship AI, founded in 2006 and headquartered in Redmond, Washington, specializes in AI-driven video, sensor, and data management solutions [5] - The company's product suite includes the Outpost AI edge hardware, Acropolis enterprise management software, and Command visualization tools [5] - Airship AI focuses on predictive analysis and providing actionable intelligence to enhance decision-making for public sector and commercial customers [5] Technology and Solutions - The Acropolis backend system allows agencies to manage various sensors and devices from multiple manufacturers through a single interface, leading to significant cost savings [2][3] - The Outpost AI Edge Appliance processes and encrypts data in real-time, enabling agencies to identify and respond to objects of interest effectively [3] - Airship AI's sensor-agnostic approach facilitates integration with existing systems, enhancing operational capabilities without the need for complete overhauls [3]

Group 1 - Airship AI Holdings, Inc. closed a public offering with net proceeds of approximately $7.04 million after deducting fees and expenses [1][2] - The offering included 2,882,883 shares of common stock and warrants to purchase an equal number of shares at a combined price of $2.775 per share [1][2] - Each share was sold with a warrant that has an exercise price of $2.65, is immediately exercisable, and expires five years after issuance [1][2] Group 2 - Roth Capital Partners and The Benchmark Company acted as co-placement agents for the offering [2] - The net proceeds will be used for working capital and general corporate purposes [2] Group 3 - The offering was made under an effective registration statement on Form S-1 filed with the SEC on August 7, 2024, and became effective on August 29, 2024 [3] - The offering was conducted solely through a prospectus [3] Group 4 - Airship AI, founded in 2006, is a technology company based in Redmond, Washington, specializing in AI-driven video, sensor, and data management surveillance solutions [5] - The company's products aim to enhance public safety and operational efficiency for both public sector and commercial customers [5] - Airship AI's product suite includes Outpost AI edge hardware, Acropolis enterprise management software, and Command visualization tools [5]

Core Points - Airship AI Holdings, Inc. announced a public offering of 2,882,883 shares of common stock and warrants at a combined price of $2.775 per share [1] - The offering is expected to generate approximately $8.0 million in gross proceeds for the company [2] - The company plans to use the net proceeds for working capital and general corporate purposes [2] Offering Details - Each share of common stock is sold with one warrant to purchase an additional share at an exercise price of $2.65, which is exercisable immediately and expires in five years [1] - The closing of the offering is anticipated on or about September 3, 2024, pending customary closing conditions [1] Company Overview - Airship AI, founded in 2006 and headquartered in Redmond, Washington, specializes in AI-driven video, sensor, and data management surveillance solutions [5] - The company's product suite includes Outpost AI edge hardware, Acropolis enterprise management software, and Command visualization tools, aimed at enhancing public safety and operational efficiency [5]

As filed with the U.S. Securities and Exchange Commission on August 22, 2024. Registration No. 333-281333 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 1 to FORM S-1/A REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 (State or other jurisdiction of incorporation or organization) Delaware 7372 93-4974766 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification No.) 8210 154th Ave NE Redmond, WA 98052 Tel: (877) 462-4250 Airship AI ...

As filed with the U.S. Securities and Exchange Commission on August 22, 2024. Registration No. 333-281333 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 1 to FORM S-1/A REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Airship AI Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 7372 93-4974766 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Ident ...

Financial Performance - Second Quarter 2024 net revenues reached $6.4 million, with a gross profit of $4.5 million and a gross margin of 70%[2] - Operating income for the quarter was $1.0 million, indicating progress towards the company's goal of being cash flow positive for the full year[2] - First half 2024 combined net revenue totaled $17.0 million, representing 128% of the company's total revenue for the full year 2023[1] - Total net revenues for the three months ended June 30, 2024, reached $6,401,031, a significant increase from $2,770,018 in the same period of 2023, representing a growth of approximately 131%[19] - Gross profit for the six months ended June 30, 2024, was $7,134,334, compared to $2,477,616 for the same period in 2023, indicating a year-over-year increase of about 187%[19] - Operating income for the three months ended June 30, 2024, was $976,316, a turnaround from an operating loss of $3,084,512 in the same quarter of 2023[19] - The company reported a net income of $18,461,995 for the three months ended June 30, 2024, compared to a net loss of $3,103,279 in the same period of 2023[19] Revenue Growth and Contracts - The total validated pipeline increased to approximately $150 million, including $30 million in new opportunities from a successful pilot for a federal agency[4] - Backlog as of June 30, 2024, was approximately $2.0 million, expected to be invoiced in the third and fourth quarters of 2024[3] - The company announced a six-figure contract award with a Fortune 100 transportation and e-commerce company for the Acropolis platform expansion[5] - The company anticipates triple-digit revenue growth and positive cash flow for calendar year 2024, supported by a strong pipeline and improving gross profit margins[6] - Airship AI has onboarded several new large state and local law enforcement agencies, with over 25 agencies currently in acquisition or testing phases[5] - The company completed multiple firm-fixed price contracts worth $10.9 million for advanced integrated solutions supporting real-time intelligence operations along U.S. borders[4] Cash Flow and Expenses - Cash and cash equivalents decreased to $226,750 as of June 30, 2024, from $3,124,413 at the end of 2023, indicating a decline of about 93%[17] - Net cash used in operating activities was $(4,146,868) compared to $(737,102) in the previous period[21] - Net cash provided by financing activities amounted to $1,240,221, a decrease from $2,660,042 in the prior period[21] - Research and development expenses for the six months ended June 30, 2024, were $1,398,137, slightly higher than $1,339,283 for the same period in 2023[19] - Selling, general, and administrative expenses decreased to $6,162,414 for the six months ended June 30, 2024, down from $5,925,016 in the same period of 2023[19] Liabilities and Stockholder's Equity - Total liabilities increased to $33,271,809 as of June 30, 2024, up from $23,575,140 at the end of 2023, reflecting a rise of approximately 41%[17] - The company’s total stockholders' deficit increased to $(27,966,537) as of June 30, 2024, compared to $(17,487,227) at the end of 2023[17] - The weighted average shares of common stock outstanding for the six months ended June 30, 2024, were 23,220,709, compared to 22,812,048 for the same period in 2023[19] Fair Value Changes and Stock Issuance - Loss from change in fair value of warrant liability was $5,304,744[21] - Loss from change in fair value of earnout liability totaled $6,607,923[21] - Issuance of common stock for debt interest payment was $487,642[21] - Issuance of common stock for debt conversion reached $835,610[21] - Proceeds from convertible promissory note were $1,984,582[21] - Accounts payable - trade and accrued expenses decreased by $(1,426,970)[21] - Deferred revenue decreased by $(1,299,813) compared to an increase of $678,623 in the previous period[21]

Strong Second Quarter 2024 Net Revenues of $6.4 Million, Gross Profit of $4.5 Million and Gross Margin of 70% Second Quarter Operating Income of $1.0 Million Represents Significant Progress Towards Full Year Cash Flow Positive Objective First Half 2024 Combined Net Revenue of $17.0 Million Represents 128% of the Company's Full Year Revenue in 2023 REDMOND, Wash., Aug. 14, 2024 (GLOBE NEWSWIRE) -- Airship AI Holdings, Inc. (NASDAQ: AISP) ("Airship AI" or the "Company"), a leader in AI-driven video, sensor, a ...

Financial Performance - Net revenues for the three months ended June 30, 2024, increased by $3,631,000 to $6,401,000 compared to $2,770,000 for the same period in 2023, driven by increased product sales[139] - Gross profit for the three months ended June 30, 2024, increased by 169.3% to $4,506,000 compared to $1,673,000 for the same period in 2023[139] - Operating income for the three months ended June 30, 2024, was $976,000, a significant improvement from a loss of $3,084,000 in the same period in 2023, representing a variance of 131.6%[139] - The company reported a net income of $18,462,000 for the three months ended June 30, 2024, compared to a net loss of $3,103,000 for the same period in 2023, reflecting a variance of 695.0%[139] - Net revenues for the six months ended June 30, 2024 increased by $11,267,000 to $16,976,000, a 197.4% increase compared to $5,709,000 for the same period in 2023[143] - Gross profit for the six months ended June 30, 2024 was $7,134,000, an increase of $4,656,000 or 187.9% compared to $2,478,000 for the same period in 2023[144] - Net income for the three months ended June 30, 2024 was $18,462,000, compared to a net loss of $3,103,000 for the same period in 2023[142] - Other income for the three months ended June 30, 2024 was $17,486,000, a significant increase from other expense of $19,000 in the same period of 2023[141] Expenses - Research and development expenses for the three months ended June 30, 2024, increased by $38,000 to $703,000 compared to $665,000 for the same period in 2023[140] - Research and development expenses for the six months ended June 30, 2024 increased by $59,000 to $1,398,000 compared to $1,339,000 for the same period in 2023[144] - Selling, general and administrative expenses for the six months ended June 30, 2024 increased by $237,000 to $6,162,000 compared to $5,925,000 for the same period in 2023[144] Liabilities and Cash Position - Total liabilities measured at fair value as of June 30, 2024, amounted to $20,389,999, compared to $8,626,779 as of December 31, 2023[130] - Net cash used in operating activities for the six months ended June 30, 2024 was $4,147,000, primarily due to a net loss of $13,502,000[151] - As of June 30, 2024, the company had cash of approximately $227,000 and accounts receivable of approximately $3,440,000[150] - The accumulated deficit as of June 30, 2024 was $30,979,000, with a working capital deficit of approximately $6,712,000[150] Business Developments - The company received purchase orders from various federal government agency customers totaling over $13 million, with partial shipments made during the three months ended June 30, 2024[139] - The merger with BYTS closed on December 21, 2023, with Airship AI Holdings, Inc. becoming the accounting acquiror under the ticker symbol "AISP"[128] - The company anticipates a shift towards cloud-based software solutions, which will create additional subscription revenue opportunities in the future[132] - The company plans to expand its edge AI-based solutions, focusing on real-time intelligent decision-making capabilities for customers[134] Lease Agreements - The company entered into a lease for 15,567 square feet of office and warehouse space in Redmond, WA, starting October 1, 2023, with a monthly payment of $25,000, expiring on October 31, 2027, and a 3% increase in payment each year thereafter[157] - A lease extension was made for 3,621 square feet in Moorestown, North Carolina, with a net monthly payment of $6,488, expiring on August 29, 2024[157] Accounting Policies - The company does not have any off-balance sheet arrangements that could materially affect its financial condition, revenue, or expenses[158] - The consolidated financial statements are prepared in accordance with U.S. GAAP, requiring estimates and assumptions that could differ materially from actual results due to economic uncertainties[159] - Significant accounting policies have not materially changed from those discussed in the Annual Report for the year ended December 31, 2023[160]

As filed with the U.S. Securities and Exchange Commission on August 7, 2024. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Airship AI Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 7372 93-4974766 (Primary Standard Industrial Classification Code Number) Mitchell S. Nussbaum, Esq. David J. Levine, Esq. L ...

As filed with the U.S. Securities and Exchange Commission on August 7, 2024. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Airship AI Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 7372 93-4974766 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification No.) 8210 154th Av ...