Airship AI Q1 Revenues Rise 15% to $6.3M with 50% Gross Margin
Airship AI posted Q1 net revenues of $6.3 million, up 15% year-over-year, and achieved a 50% gross margin on $3.2 million gross profit. Backlog totaled $4.6 million and validated pipeline reached $165.3 million, while net loss narrowed to $0.02 per share.
1. Q1 Financial Results
Airship AI reported net revenues of $6.3 million in Q1 2026, a 15% increase from the prior year, with gross profit of $3.2 million and a 50% gross margin. Operating loss was $1.58 million and net loss was $721,000 ($0.02 per share), while cash totaled $12.6 million and accounts receivable stood at $5.4 million.
2. Contract Backlog and Pipeline
As of May 8, backlog amounted to $4.6 million from firm fixed-price awards, and the validated pipeline reached $165.3 million across AI-driven edge, video and data management solutions. Notable Q1 awards included $1.9 million and $2.1 million contracts from DHS agencies and $3.0 million from a large commercial customer.
3. Leadership and Advisory Additions
The company strengthened its commercial and federal sales efforts by hiring a Director of Commercial Sales and a Director of Federal Business Development. It also appointed (Ret) Chief David Aguilar, former Acting Commissioner of Customs and Border Protection, to its advisory board.
4. 2026 Outlook
Management aims to achieve cash-flow positive operations before the end of 2026 by improving gross margins and leveraging organic cash flow. Continued investments will refine the Outpost AI edge platform, Fortress cloud analytics, and the Ask Airship natural-language AI engine.