---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-25-005757"
form_type: "8-K"
ticker: "AISP"
cik: "0001842566"
company_name: "Airship AI Holdings, Inc."
filed_at: "2025-05-15T23:59:59+00:00"
generated_at: "2026-05-21T05:40:20.538473+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Airship AI Q1 revenue $5.5M, net income $23.7M; guides 30% growth

## Summary
- Net revenues $5.5M, gross profit $2.2M (40% margin); operating loss $1.7M.
- Net income $23.7M ($0.75 basic share) driven by $25.4M noncash gains on fair value changes.
- Cash $8.8M as of March 31; operating cash flow negative $2.1M in Q1.
- Pipeline ~$135M; backlog $2.0M; FY2025 guidance: 30% revenue growth, cash flow positive.
- Entered ATM equity offering for up to $25M via Roth Capital Partners on April 23.

## SEC filing metadata
- accession: 0001654954-25-005757
- form_type: 8-K
- ticker: AISP
- cik: 0001842566
- company_name: Airship AI Holdings, Inc.
- filed_at: 2025-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1842566/000165495425005757/0001654954-25-005757-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1842566/000165495425005757/airsp_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-25-005757
- JSON: https://secwatch.observer/filing/0001654954-25-005757.json
- Plain text: https://secwatch.observer/filing/0001654954-25-005757.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.