---
title: "AIRSHIP AI HOLDINGS INC C/WTS 21/12/2028(TO PUR COM) | 8-K: FY2026 Q1 Revenue: USD 6.353 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285948034.md"
datetime: "2026-05-11T13:04:08.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285948034.md)
  - [en](https://longbridge.com/en/news/285948034.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285948034.md)
---

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

Revenue: As of FY2026 Q1, the actual value is USD 6.353 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.

### Financial Highlights for Q1 2026

#### Segment Revenue

Net revenues for the quarter ended March 31, 2026, were $6.3 million, representing a 15% increase compared to Q1 of the prior year . 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 .

#### Operational Metrics

Gross profits for the quarter ended March 31, 2026, were $3.2 million, with a gross margin percentage of 50% . 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 . 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 . Research and Development Expenses for Q1 2026 were $843,696, and Selling, General and Administrative Expenses were $3,903,719 . Total Operating Expenses for Q1 2026 amounted to $4,747,415 . 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 . The net loss for the quarter ended March 31, 2026, was -$721,000 .

#### Cash Flow

Net cash provided by operating activities was $814,000 in the quarter ended March 31, 2026 . Cash and cash equivalents were $12.6 million as of March 31, 2026 . Accounts receivable stood at $5.4 million as of March 31, 2026 .

#### Unique Metrics

Backlog as of May 8, 2026, was $4.6 million, representing firm fixed-price contracts awarded in Q4 2025 and Q1 2026 . 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 . 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 .

#### 2026 Outlook

AIRSHIP AI HOLDINGS, INC. plans to leverage growing momentum in long-term business development efforts expected to be funded in 2026 through the OB3 . The company aims to improve gross margin percentages to achieve cash flow positive operations before the end of 2026 . Additionally, AIRSHIP AI HOLDINGS, INC. will continue strategic investments in its sales and business development organizations and refine its AI platforms and software offerings .

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