secwatch.observer — SEC 8-K summary
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Issuer:     Airship AI Holdings, Inc. (AISP)
CIK:        0001842566
Form:       8-K
Filed at:   2025-11-17T23:59:59+00:00
Accession:  0001654954-25-013123
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Airship AI Q3: $1.2M revenue, $2.9M operating loss, $166M pipeline
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- Q3 net revenues $1.2M; gross profit $0.6M (51% margin); operating loss $2.9M.
- Net income $6.4M ($0.20 basic EPS) driven by $8.8M noncash gains from fair value adjustments.
- Backlog $11M; validated pipeline $166M across federal and commercial verticals.
- Subsequent to quarter end, raised $9.7M from warrant exercise; cash $5.8M at quarter end.
- Management cites federal acquisition delays but sees tailwinds from border security funding ($70B+).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1842566/000165495425013123/0001654954-25-013123-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1842566/000165495425013123/airsp_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-25-013123

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer