---
title: "Airship AI | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 6.353 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285947957.md"
datetime: "2026-05-11T13:03:51.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285947957.md)
  - [en](https://longbridge.com/en/news/285947957.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285947957.md)
---

# Airship AI | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 6.353 M

Revenue: As of FY2026 Q1, the actual value is USD 6.353 M, beating the estimate of USD 6.2 M.

EPS: As of FY2026 Q1, the actual value is USD -0.02.

EBIT: As of FY2026 Q1, the actual value is USD -1.669 M.

### Net Revenues

Airship AI Holdings, Inc. reported net revenues of $6.3 million for the quarter ended March 31, 2026, which represents a 15% increase compared to the first quarter of the prior year.

### Gross Profit and Margin

Gross profits for the quarter ended March 31, 2026, were $3.2 million, resulting in a gross margin percentage of 50%. The company observed a 42% increase in gross margin compared to the first quarter of the prior year, partly due to increased solution sales involving more Airship AI branded hardware and software offerings.

### Operating Loss

An operating loss of - $1,582,000 was recorded for the quarter ended March 31, 2026, influenced by increased stock-based compensation of $666,000 and higher investments in sales, marketing, and research and development.

### Other Income

Other income for the quarter ended March 31, 2026, totaled $861,000, primarily driven by a $1.5 million gain from the change in fair value of warrant liability, partially offset by a - $726,000 loss on the change in fair value of the earnout liability.

### Net Loss

Net loss for the quarter ended March 31, 2026, was - $721,000, or - $0.02 per basic share, largely attributed to noncash expenses of $861,000 and stock-based compensation of $666,000.

### Cash Flow from Operating Activities

Net cash provided by operating activities was $814,000 in the quarter ended March 31, 2026.

### Cash and Accounts Receivable

Cash and cash equivalents amounted to $12,567,574 as of March 31, 2026. Accounts receivable stood at $5,379,360 as of the same date.

### Backlog and Pipeline

As of May 8, 2026, the company’s backlog was $4.6 million, representing firm fixed price contracts to be shipped and invoiced in subsequent quarters. The total validated pipeline as of May 8, 2026, was approximately $165.3 million, comprising single and multi-year opportunities across various customer verticals.

### New Contract Awards

Significant contract awards and procurement activities during Q1 2026 included a $1.9 million award from a Department of Homeland Security (DHS) agency for National Special Security Event deployments, a $2.1 million award from another DHS agency for border security operations, and $3.0 million in cumulative awards from a large commercial customer for a technical refresh of deployed hardware and software.

### 2026 Outlook

Airship AI Holdings, Inc. plans to capitalize on growing momentum from long-term business development efforts expected to be funded in 2026 through the One Big Beautiful Bill (OB3). The company aims to improve gross margin percentages to achieve cash flow positive operations before the end of 2026. Furthermore, Airship AI Holdings, Inc. intends to continue strategic investments in sales and business development, supported by organic cash flow and potential public warrant exercises, while refining its AI-driven platforms and expanding brand awareness in new verticals.

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