AIRSHIP(US:AISP)2025-11-17 14:01Financial Performance - Q3 2025 net revenues were $1.2 million, with a gross profit of $0.6 million and a gross margin of 51%[4] - Operating loss for the quarter was $2.9 million, primarily due to increased investments in sales and marketing[4] - Net income for Q3 2025 was $6.4 million, or $0.20 per basic share, mainly due to noncash income of $8.8 million[4] - Net revenues for the nine months ended September 30, 2025, were $6,360,807, compared to a net loss of $7,288,520 for the same period in 2024[20] - Gross profit for the nine months ended September 30, 2025, was $4,371,357, while total operating expenses were $10,974,376, resulting in an operating loss of $6,603,019[18] - Basic net income per share for the nine months ended September 30, 2025, was $0.20, while diluted net income per share was $0.15[18] - The total comprehensive income for the nine months ended September 30, 2025, was $6,353,398, compared to a loss of $7,279,182 in 2024[18] Cash Flow and Liquidity - Cash and cash equivalents as of September 30, 2025, were $5.8 million, with an additional $9.7 million raised from warrant exercises post-quarter[4] - Cash and cash equivalents at the end of the period were $5,755,661, down from $11,414,830 at the beginning of the period[21] - The company experienced a net cash used in operating activities of $4,502,421 for the nine months ended September 30, 2025[21] - The company reported a decrease in cash and cash equivalents of $5,651,760 for the nine months ended September 30, 2025[21] - The company issued common stock for earnout shares amounting to $5,282,125 during the reporting period[21] Business Development and Opportunities - The validated pipeline at the end of Q3 2025 was approximately $166 million, with expected award timeframes over the next 18-24 months[4] - The company closed approximately $11 million in new opportunities by the end of Q3 2025, most scheduled to ship in Q4 2025 and early 2026[7] - The company plans to release new Outpost AI product offerings and expand custom-trained AI models for emerging edge analytic workflows[8] - Airship AI is focusing on brand awareness and engagement in new verticals through targeted marketing and industry events[8] Strategic Outlook - The company aims to return to positive operational cash flow while navigating uncertainties related to federal funding and government shutdowns[9] Research and Development - Research and development expenses for the nine months ended September 30, 2025, were $2,213,182, compared to $2,471,872 for the same period in 2024[18] Government Funding - The Big Beautiful Bill includes over $70 billion in supplemental funding for U.S. Customs and Border Protection, with $6.2 billion earmarked for border security technology[9]