---
title: "AIRSHIP AI HOLDINGS INC C/WTS 21/12/2028(TO PUR COM) | 8-K: FY2025 Q4 Revenue: USD 6.5 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/276169354.md"
datetime: "2026-02-17T21:18:35.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/276169354.md)
  - [en](https://longbridge.com/en/news/276169354.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/276169354.md)
---

# AIRSHIP AI HOLDINGS INC C/WTS 21/12/2028(TO PUR COM) | 8-K: FY2025 Q4 Revenue: USD 6.5 M

Revenue: As of FY2025 Q4, the actual value is USD 6.5 M.

### Financial and Operational Metrics for AIRSHIP AI HOLDINGS, INC.

#### Fourth Quarter 2025 Financial Highlights

-   **Net Revenues**: $6.5 million, representing a 102% increase compared to Q4 of the prior year.
-   **Gross Profits**: $3.3 million.
-   **Gross Margin**: 51.2%, marking a 169% increase compared to Q4 of the prior year, partly due to increased solution sales with more AIRSHIP AI HOLDINGS, INC. branded hardware and software offerings.
-   **Operating Loss**: - $612,000, influenced by increased stock-based compensation and investments in sales and marketing.
-   **Other Income**: $23.6 million, primarily from a $14.5 million gain in the fair value of earnout liability and a $9 million gain in the fair value of warrant liability.
-   **Net Cash Used in Operating Activities**: - $3.5 million, reflecting a $5.2 million increase in accounts receivable.
-   **Cash and Cash Equivalents**: $11.8 million as of December 31, 2025.
-   **Accounts Receivable**: $6.5 million as of December 31, 2025.

#### Full Year 2025 Financial Highlights

-   **Net Revenues**: $15,321,349.
    -   **Product Revenue**: $10,135,562.
    -   **Post Contract Support Revenue**: $5,099,756.
    -   **Other Services Revenue**: $86,031.
-   **Cost of Net Revenues**: $7,623,583.
-   **Gross Profit**: $7,697,766.
-   **Research and Development Expenses**: $3,076,466.
-   **Selling, General and Administrative Expenses**: $11,837,086.
-   **Total Operating Expenses**: $14,913,552.
-   **Operating Loss**: - $7,215,786.
-   **Other Income (Expense), net**: $36,537,149, including a $15,401,751 gain from change in fair value of earnout liability and a $20,852,612 gain from change in fair value of warrant liability.
-   **Net Income**: $29,321,363, primarily related to noncash income of $36.5 million.
-   **Net Cash Used in Operating Activities**: - $8,004,824.
-   **Net Cash Provided by Financing Activities**: $8,347,424.

#### Operational Metrics

-   **Backlog**: $3.3 million as of December 31, 2025, representing firm fixed price contracts.
-   **Total Validated Pipeline**: Approximately $173 million at the end of Q4, consisting of single and multi-year opportunities across all customer verticals, with expected award timeframes within the next 18-24 months.
-   **Significant Contract Awards**: Included a $1.9 million award from the Department of Homeland Security (DHS) for National Special Security Events in 2026, a $2.8 million award from a large commercial customer for technical refresh, and multiple awards at the DHS component agency level for critical infrastructure.

#### 2026 Outlook

AIRSHIP AI HOLDINGS, INC. aims to capitalize on business development efforts expected to be funded in 2026 through the One Big Beautiful Bill Act (OBBB). The company plans to maintain its focus on improving gross margin percentages to achieve cash flow positive operations before the end of 2026. Additionally, AIRSHIP AI HOLDINGS, INC. will continue strategic investments in sales and business development, training and refinement of its AI platforms (Outpost AI and Fortress), and expanding brand awareness in new verticals.

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- [AISPW.US](https://longbridge.com/en/quote/AISPW.US.md)

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