CONDENSED CONSOLIDATED BALANCE SHEETSAs of March 31, 2025 and December 31, 2024 March 31,2025 December 31,2024 (1) ASSETS Unaudited CURRENT ASSETS: Cash and cash equivalents $8,812,178 $11,414,830 Accounts receivable, net of allowance for credit losses of $0 2,782,650 1,226,757 Prepaid expenses and other 67,311 17,883 Total current assets 11,662,139 12,659,470 OTHER ASSETS Other assets 165,960 165,960 Operating lease right of use asset 1,102,967 882,024 TOTAL ASSETS $12,931,066 $13,707,454 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES: Accounts payable - trade $2,179,847 $759,480 Advances from founders 700,000 1,300,000 Accrued expenses 60,551 51,649 Current portion of operating lease liability 405,916 305,178 Deferred revenue- current portion 2,948,695 3,238,483 Total current liabilities 6,295,009 5,654,790 NON-CURRENT LIABILITIES: Operating lease liability, net of current portion 758,376 638,525 Warrant liability 18,659,435 34,180,618 Earnout liability 8,199,079 23,304,808 Deferred revenue- non-current 2,528,716 2,951,850 Total liabilities 36,440,615 66,730,591 COMMITMENTS AND CONTINGENCIES (Note 9) STOCKHOLDERS' DEFICIT: Preferred stock - no par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2025 and December 31, 2024 - - Common stock - $0.0001 par value, 200,000,000 shares authorized, 31,844,471 and 30,588,413 shares issued and outstanding as of March 31, 2025 and December 31, 2024 3,182 3,056 Additional paid in capital 27,731,753 21,918,867 Accumulated deficit (51,233,605) (74,941,590)Accumulated other comprehensive loss (10,879) (3,470)Total stockholders' deficit (23,509,549) (53,023,137) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $12,931,066 $13,707,454 AIRSHIP AI HOLDINGS, INC.
The margins reflected increased solution sales with more third-party hardware than Airship AI software.Operating loss was $1.7 million for the quarter ended March 31, 2025 reflected in increased stock based compensation and increased investments in sales and marketing related expenditures which should increase future sales.
Border Security Administration Provides Additional Macro Tailwinds for 2025 & Beyond REDMOND, Wash., May 15, 2025 (GLOBE NEWSWIRE) -- Airship AI Holdings, Inc.(NASDAQ: AISP) ("Airship AI” or the "Company”), a leader in AI-driven video, sensor, and data management surveillance solutions, today reported its financial and operational results for the first quarter ended March 31, 2025.
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