We're Keeping An Eye On Airship AI Holdings' (NASDAQ:AISP) Cash Burn Rate

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the right price. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse. Given this risk, we thought we'd take a look at whether Airship AI Holdings (NASDAQ:AISP) shareholders should be worried about its cash burn. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. First, we'll determine its cash runway by comparing its cash burn with its cash reserves. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. When Might Airship AI Holdings Run Out Of Money? You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. When Airship AI Holdings last reported its September 2025 balance sheet in November 2025, it had zero debt and cash worth US$5.8m. Importantly, its cash burn was US$6.6m over the trailing twelve months. That means it had a cash runway of around 10 months as of September 2025. That's quite a short cash runway, indicating the company must either reduce its annual cash burn or replenish its cash. You can see how its cash balance has changed over time in the image below. NasdaqGM:AISP Debt to Equity History January 9th 2026 See our latest analysis for Airship AI Holdings How Well Is Airship AI Holdings Growing? At first glance it's a bit worrying to see that Airship AI Holdings actually boosted its cash burn by 28%, year on year. Also concerning, operating revenue was actually down by 50% in that time. Considering both these metrics, we're a little concerned about how the company is developing. Clearly, however, the crucial factor is whether the company will grow its business going forward. For that reason, it makes a lot of sense to take a look at our analyst forecasts for the company. How Easily Can Airship AI Holdings Raise Cash? Since Airship AI Holdings can't yet boast improving growth metrics, the market will likely be considering how it can raise more cash if need be. Generally speaking, a listed business can raise new cash through issuing shares or taking on debt. Many companies end up issuing new shares to fund future growth. By looking at a company's cash burn relative to its market capitalisation, we gain insight on how much shareholders would be diluted if the company needed to raise enough cash to cover another year's cash burn. Since it has a market capitalisation of US$105m, Airship AI Holdings' US$6.6m in cash burn equates to about 6.3% of its market value. That's a low proportion, so we figure the company would be able to raise more cash to fund growth, with a little dilution, or even to simply borrow some money. So, Should We Worry About Airship AI Holdings' Cash Burn? On this analysis of Airship AI Holdings' cash burn, we think its cash burn relative to its market cap was reassuring, while its falling revenue has us a bit worried. We don't think its cash burn is particularly problematic, but after considering the range of factors in this article, we do think shareholders should be monitoring how it changes over time. Taking a deeper dive, we've spotted 4 warning signs for Airship AI Holdings you should be aware of, and 2 of them shouldn't be ignored. Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies, and this list of stocks growth stocks (according to analyst forecasts)