Earnings Releases·Nov 5, 2026, 9:05 AM ET

Airship AI — Third Quarter 2026 Earnings Summary

Net revenues surged 429% year-over-year to $6.23 million for Q3 2026, with nine-month revenues reaching $16.71 million compared to $8.83 million in the prior period; gross margin improved to 56.2% while the company achieved operational breakeven excluding noncash stock-based compensation.
Net income for the quarter was $9.62 million ($0.28 per share), driven primarily by $10.18 million in other income from fair value adjustments on earnout and warrant liabilities, though operating cash flow remained positive at $384,000 for the quarter.
The company reported a $28.3 million backlog of firm-fixed price orders and a $215 million validated pipeline, with management targeting cash flow positive operations by year-end 2026 and the deployment of agentic AI software to initial customers around that time.
Strategic milestones include a shift to positive stockholders' equity ($1.54 million) and reduced total liabilities ($19.25 million), alongside plans to fund future growth through organic cash flow and potential warrant exercises to capitalize on Department of Homeland Security procurement efforts.