<span item_type="fundamental" item_id="9c4f5ff023f9d2a89e0edd198fdaa8c9" counter_id="ST/US/AISPW" env="prod"></span><span item_type="announcement" item_id="647180074684973825" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 6.353 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD -0.02.</p><p>EBIT: As of FY2026 Q1, the actual value is USD -1.669 M.</p><p></p><h3>Financial Highlights for Q1 2026</h3><h4>Segment Revenue</h4><p>Net revenues for the quarter ended March 31, 2026, were $6.3 million, representing a 15% increase compared to Q1 of the prior year <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>. Product revenue was $3,949,335, post contract support revenue was $2,381,338, and other services revenue was $22,625 for the quarter ended March 31, 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>.</p><h4>Operational Metrics</h4><p>Gross profits for the quarter ended March 31, 2026, were $3.2 million, with a gross margin percentage of 50% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>. This marks a 42% increase in gross margin compared to Q1 of the prior year, partly due to increased solution sales with more AIRSHIP AI HOLDINGS, INC. branded hardware and software offerings <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>. The operating loss for the quarter ended March 31, 2026, was -$1,582,000, influenced by increased stock-based compensation of $666,000 and higher investments in sales, marketing, and research and development expenses <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>. Research and Development Expenses for Q1 2026 were $843,696, and Selling, General and Administrative Expenses were $3,903,719 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>. Total Operating Expenses for Q1 2026 amounted to $4,747,415 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>. Other income for the quarter was $861,000, primarily from a $1.5 million gain on the change in fair value of warrant liability, offset by a -$726,000 loss on the change in fair value of the earnout liability <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>. The net loss for the quarter ended March 31, 2026, was -$721,000 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>.</p><h4>Cash Flow</h4><p>Net cash provided by operating activities was $814,000 in the quarter ended March 31, 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>. Cash and cash equivalents were $12.6 million as of March 31, 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>. Accounts receivable stood at $5.4 million as of March 31, 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>.</p><h4>Unique Metrics</h4><p>Backlog as of May 8, 2026, was $4.6 million, representing firm fixed-price contracts awarded in Q4 2025 and Q1 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>. The total validated pipeline as of May 8, 2026, was approximately $165.3 million, consisting of single and multi-year opportunities across various customer verticals <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>. New significant contract awards during Q1 2026 include a $1.9 million award from a Department of Homeland Security (DHS) agency, a $2.1 million award from another DHS agency, and $3.0 million in cumulative awards from a large commercial customer <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>.</p><h4>2026 Outlook</h4><p>AIRSHIP AI HOLDINGS, INC. plans to leverage growing momentum in long-term business development efforts expected to be funded in 2026 through the OB3 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>. The company aims to improve gross margin percentages to achieve cash flow positive operations before the end of 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>. Additionally, AIRSHIP AI HOLDINGS, INC. will continue strategic investments in its sales and business development organizations and refine its AI platforms and software offerings <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1842566/000165495426004650/airsp_ex991.htm"></span>.</p>

AIRSHIP AI HOLDINGS INC C/WTS 21/12/2028(TO PUR COM) | 8-K: FY2026 Q1 Revenue: USD 6.353 M