Airship Ai Holdings Inc ( (AISP) ) has released its Q4 earnings. Here is a breakdown of the information Airship Ai Holdings Inc presented to its investors.
Airship AI Holdings, Inc., headquartered in Redmond, Washington, is a technology company specializing in AI-driven video, sensor, and data management surveillance solutions for public safety and operational efficiency. The company recently reported its financial results for the full year 2024, showcasing significant growth and strategic advancements.
Airship AI achieved an impressive 87% increase in net revenue for 2024, reaching $23.1 million, primarily driven by increased sales to federal government customers. The company also strengthened its balance sheet by eliminating debt through the conversion of $2.8 million in senior secured convertible notes. Additionally, the company is poised to benefit from favorable macroeconomic conditions with a new pro-U.S. border security administration in place.
Key financial highlights include a gross profit of $10.5 million, maintaining a steady gross margin of 45.7%. Despite an operating loss of $3.5 million due to increased stock-based compensation and transaction costs, the company improved its operational efficiency compared to the previous year. Airship AI also reported a backlog of $5.5 million and a validated pipeline of approximately $135 million, indicating strong future growth potential.
Looking ahead, Airship AI aims for a 30% revenue growth in 2025, targeting net revenues of approximately $30 million. The company plans to expand its AI offerings and continue innovation across its core software platforms. With a focus on enhancing brand awareness and engaging new verticals, Airship AI is well-positioned to capitalize on emerging opportunities and drive sustained growth in the coming years.