secwatch.observer — SEC 8-K summary
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Issuer:     Airship AI Holdings, Inc. (AISP)
CIK:        0001842566
Form:       8-K
Filed at:   2026-02-17T23:59:59+00:00
Accession:  0001654954-26-001312
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Airship AI Q4 2025 revenue $6.5M (+102% YoY); gross margin 51.2%; FY net income $29.3M on noncash gains
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- Q4 net revenues $6.5M, gross profit $3.3M (51.2% margin, +169% YoY).
- Operating loss $612K; FY 2025 net income $29.3M ($0.90 basic EPS) includes $36.5M noncash gains.
- Cash and equivalents $11.8M; backlog $3.3M; validated pipeline ~$173M.
- New awards: $1.9M DHS contract, $2.8M commercial refresh, multiple DHS component deals.
- 2026 outlook: focus on cash-flow positive ops; capitalize on OBBB funding for mission-critical programs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1842566/000165495426001312/0001654954-26-001312-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1842566/000165495426001312/airsp_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-26-001312

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