For the twelve months ended Sep 30, 2026, Airship AI Holdings Inc. reported $23.20M of revenue and $29.45M of net income.
AISP revenue was $6.23M in fiscal Q3 2026 (ended Sep 30, 2026), up 429.2% from a year earlier and up 51.1% from the prior quarter. For the full fiscal 2025 it was $15.32M, down 33.5% from fiscal 2024. It rose in 1 of the last 3 fiscal years.
AISP net income was $9.61M in fiscal Q3 2026 (ended Sep 30, 2026), up 50.0% from a year earlier. For the full fiscal 2025 it was $29.32M, compared with -$57.46M in fiscal 2024. Fiscal 2025 is the highest of the 5 fiscal years on file.
AISP diluted EPS was $0.25 in fiscal Q3 2026 (ended Sep 30, 2026), up 66.7% from a year earlier. For the full fiscal 2025 it was $0.76.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $15.32M | $23.05M | $12.30M | $14.55M | - |
| Cost of revenue | $7.62M | $12.52M | $6.54M | $6.13M | - |
| Gross profit | $7.70M | $10.53M | $5.76M | $8.42M | - |
| Research and development | $3.08M | $2.80M | $2.73M | - | - |
| Selling, general and admin | $11.84M | $11.23M | $9.68M | $7.63M | $100.0K |
| Operating income | -$7.22M | -$3.51M | -$6.64M | -$2.82M | -$1.02M |
| Pre-tax income | - | -$57.46M | $16.37M | - | - |
| Income tax | $0 | $0 | $0 | $10.0K | - |
| Net income | $29.32M | -$57.46M | $16.37M | -$487.5K | $5.02M |
| EPS, basic | $0.90 | -$2.34 | $1.20 | -$0.04 | - |
| EPS, diluted | $0.76 | -$2.34 | $0.80 | -$0.04 | - |
| Diluted shares | 38.7M | 24.6M | 20.4M | 13.4M | - |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $11.75M | $11.41M | $3.12M | $298.6K | $1.34M |
| Receivables | $6.46M | $1.23M | - | - | - |
| Inventory | $0 | - | - | - | - |
| Current assets | $18.51M | $12.66M | $4.80M | $1.99M | $2.24M |
| Total assets | $19.48M | $13.71M | $6.09M | $3.91M | $326.07M |
| Current liabilities | $6.28M | $5.65M | $11.87M | $6.03M | $204.6K |
| Long-term debt | - | - | $0 | $131.6K | - |
| Total debt | - | - | $0 | $131.6K | - |
| Total liabilities | $26.62M | $66.73M | $23.58M | $12.27M | $20.39M |
| Shareholders' equity | -$7.15M | -$53.02M | -$17.49M | -$8.36M | -$8.41M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$8.00M | -$6.50M | -$3.29M | -$2.90M | -$1.55M |
| Investing cash flow | - | - | - | - | -$323.69M |
| Financing cash flow | $8.35M | $14.79M | $6.12M | $1.87M | $326.91M |
| Stock-based compensation | $1.63M | $1.36M | $715.7K | $546.5K | - |
| Depreciation and amortization | $0 | $1.9K | $14.9K | $14.9K | - |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue growth, YoY | -33.5% | 87.4% | -15.5% | - | - |
| Gross margin | 50.2% | 45.7% | 46.9% | 57.9% | - |
| Operating margin | -47.1% | -15.2% | -54.0% | -19.4% | - |
| Net margin | 191.4% | -249.3% | 133.1% | -3.4% | - |
| Return on assets | 150.6% | -419.2% | 268.9% | -12.5% | 1.5% |
| Current ratio | 2.94 | 2.24 | 0.40 | 0.33 | 10.93 |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.23M | $4.12M | $6.35M | $6.49M | $1.18M | $2.15M | $5.50M | $3.21M | $2.87M | $6.40M | $10.58M | $4.21M |
| Cost of revenue | $2.73M | $1.03M | $3.19M | $3.17M | $573.6K | $614.4K | $3.27M | $1.97M | $714.3K | $1.89M | $7.95M | $2.52M |
| Gross profit | $3.50M | $3.10M | $3.17M | $3.33M | $603.8K | $1.53M | $2.24M | $1.24M | $2.15M | $4.51M | $2.63M | $1.68M |
| Research and development | $906.2K | $854.2K | $843.7K | $863.3K | $753.2K | $740.6K | $719.4K | $333.0K | $1.07M | $702.8K | $695.4K | $701.4K |
| Selling, general and admin | $3.16M | $3.73M | $3.90M | $3.08M | $2.72M | $2.81M | $3.23M | $2.40M | $2.67M | $2.83M | $3.34M | $1.61M |
| Operating income | -$560.7K | -$1.49M | -$1.58M | -$612.8K | -$2.87M | -$2.02M | -$1.71M | -$1.49M | -$1.59M | $976.3K | -$1.40M | -$624.5K |
| Interest expense | - | - | - | - | - | - | - | - | $133.8K | $421.5K | $31.8K | - |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | $9.61M | -$2.41M | -$720.6K | $22.96M | $6.41M | -$23.76M | $23.71M | -$50.18M | $6.21M | $18.46M | -$31.96M | $22.85M |
| EPS, basic | $0.28 | -$0.07 | -$0.02 | - | $0.20 | -$0.75 | $0.75 | - | $0.25 | $0.80 | -$1.40 | - |
| EPS, diluted | $0.25 | -$0.07 | -$0.02 | - | $0.15 | -$0.75 | $0.61 | - | $0.17 | $0.61 | -$1.40 | - |
| Diluted shares | 38.9M | 34.4M | 34.4M | - | 42.0M | 31.9M | 38.8M | - | 35.4M | 30.3M | 22.9M | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $12.74M | $12.37M | $12.57M | $11.75M | $5.76M | $6.31M | $8.81M | $11.41M | $6.52M | $226.8K | $1.73M | $3.12M |
| Receivables | $6.28M | $3.75M | $5.38M | $6.46M | $1.25M | - | - | $1.23M | - | - | - | - |
| Inventory | $1.08M | $843.6K | - | $0 | - | - | - | - | - | - | - | - |
| Current assets | $20.13M | $16.98M | $18.26M | $18.51M | $7.03M | $8.91M | $11.66M | $12.66M | $8.01M | $4.17M | $3.46M | $4.80M |
| Total assets | $20.79M | $17.74M | $19.12M | $19.48M | $8.10M | $10.08M | $12.93M | $13.71M | $9.10M | $5.31M | $4.66M | $6.09M |
| Current liabilities | $8.77M | $5.34M | $7.20M | $6.28M | $5.47M | $5.49M | $6.30M | $5.65M | $7.98M | $10.88M | $13.40M | $11.87M |
| Long-term debt | - | - | - | - | - | - | - | - | - | - | - | $0 |
| Total debt | - | - | - | - | - | - | - | - | - | - | - | $0 |
| Total liabilities | $19.25M | $26.37M | $26.32M | $26.62M | $48.18M | $56.96M | $36.44M | $66.73M | $22.02M | $33.27M | $52.71M | $23.58M |
| Shareholders' equity | $1.54M | -$8.62M | -$7.20M | -$7.15M | -$40.08M | -$46.88M | -$23.51M | -$53.02M | -$12.92M | -$27.97M | -$48.05M | -$17.49M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $383.9K | -$235.2K | $814.5K | -$3.50M | -$583.6K | -$1.82M | -$2.10M | -$2.11M | -$251.4K | -$2.45M | -$1.70M | -$767.3K |
| Financing cash flow | $0 | $45.1K | $11.4K | $9.50M | $33.0K | -$684.9K | -$497.4K | $7.00M | $6.54M | $947.0K | $293.2K | $3.41M |
| Stock-based compensation | $554.6K | $950.6K | $666.1K | $474.1K | $355.4K | $372.1K | $428.3K | $274.5K | $273.2K | $261.6K | $269.0K | - |
| Depreciation and amortization | - | - | - | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.9K | $3.7K |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 429.2% | 92.1% | 15.5% | 102.5% | -58.9% | -66.5% | -48.0% | -23.8% | 20.3% | 131.1% | 259.9% | - |
| Net income growth, YoY | 50.0% | - | - | - | 3.2% | - | - | - | - | 494.9% | - | - |
| EPS growth, YoY | 66.7% | - | - | - | -11.8% | - | - | - | - | - | - | - |
| Gross margin | 56.2% | 75.1% | 49.8% | 51.2% | 51.3% | 71.4% | 40.6% | 38.6% | 75.1% | 70.4% | 24.9% | 40.1% |
| Operating margin | -9.0% | -36.1% | -24.9% | -9.4% | -243.5% | -94.2% | -31.2% | -46.5% | -55.4% | 15.3% | -13.3% | -14.8% |
| Net margin | 154.3% | -58.4% | -11.3% | 353.6% | 544.4% | -1106.6% | 430.8% | -1564.8% | 216.7% | 288.4% | -302.3% | 543.3% |
| Current ratio | 2.30 | 3.18 | 2.54 | 2.94 | 1.29 | 1.62 | 1.85 | 2.24 | 1.00 | 0.38 | 0.26 | 0.40 |
Source: XBRL data Airship AI Holdings Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
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