Monitor upcoming contract awards tied to DHS and OB3 funding, as the company's high pipeline visibility has yet to translate into consistent revenue beats. Near-term price action may hinge on management's ability to convert pipeline into billings.
Price Chart
Executive Summary
Airship AI reported Q1 2026 revenue of $6.3M, up 15% YoY but missing consensus estimate of $6.9M by 7.9%. Net loss was $0.02 per share vs expected breakeven, with no quantitative guidance provided. The miss on both top and bottom lines, combined with persistent operating losses, is likely to pressure the stock near term.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $6.35M, up 15% YoY from $5.50M but below $6.9M consensus.
- GAAP EPS -$0.02 vs consensus $0.00 (miss).
- Gross margin improved to 50% from 42% YoY.
- Operating loss of $1.58M narrows slightly from $1.71M in Q1 2025.
- Net loss of $0.72M includes $1.5M non-cash gain on warrant revaluation and $0.73M loss on earnout liability change.
- Operating cash flow positive at $0.81M; cash balance $12.6M.
- No specific revenue or EPS guidance provided; outlook focuses on OB3 funding pipeline.
- Backlog of $4.6M as of May 8, 2026; total pipeline ~$165.3M.
Financial Impact
Revenue miss of ~$0.55M (7.9%) and EPS miss of $0.02 vs zero consensus; non-cash items dominate net income, making core operations opaque.
Risk Factors
- Revenue concentration on government contracts with uncertain budget timing.
- Continued dependence on non-cash fair value adjustments for reported profitability.
- Low market cap ($88M) amplifies price volatility on any news.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3291949 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 4w ago | Institutional Cluster | $1.98 $2.16 | ▼ −9.37% | ▼ −9.93% | $2.16 (−9.37%) |
Aug 6, 2026 11w ago | 8-K | $1.92 $2.10 | ▲ +9.38% | ▲ +8.78% | $2.16 (+12.50%) |
Aug 6, 2026 11w ago | Press Release | $1.92 $2.10 | ▲ +9.38% | ▲ +8.78% | $2.16 (+12.50%) |
May 11, 2026 24w ago | Press Release | $2.44 $2.84 | ▼ −16.39% | ▼ −16.70% | $2.16 (+11.48%) |
US Market Status
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