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$Airship AI (AISP.US)$ Q3 2024 Financial Highlights
Net revenues for the quarter ended September 30, 2024, were $2.9 million.
Gross profits for the quarter ended September 30, 2024, were $2.2 million.
Gross margin percentage was 75% for the quarter ended September 30, 2024. Higher margins were in part due to product mix, with reduced equipment purchases and increased Outpost AI sales.
Operating loss was $1.6 million for the quarter ended September 30, 2024, which reflected increased stock based compensation and overall sales levels.
Other income for the quarter ended September 30, 2024, was $7.8 million, primarily due to a gain from a change in the fair value of earnout liability of $5.5 million, change in fair value of warrant liability of $1.5 million and change in fair value of convertible debt of $0.4 million.
Net income for the quarter ended September 30, 2024, was $6.2 million, or $0.25 per basic share, primarily related to noncash income of $7.8 million.
Net cash used in operating activities was $0.4 million in the quarter ended September 30, 2024.
Cash and cash equivalents was $6.5 million as of September 30, 2024.
Closed an $8 million public offering with net proceeds of approximately $7.3 million, after deducting the estimated offering expenses, in the quarter ended September 30, 2024.
Net revenues for the quarter ended September 30, 2024, were $2.9 million.
Gross profits for the quarter ended September 30, 2024, were $2.2 million.
Gross margin percentage was 75% for the quarter ended September 30, 2024. Higher margins were in part due to product mix, with reduced equipment purchases and increased Outpost AI sales.
Operating loss was $1.6 million for the quarter ended September 30, 2024, which reflected increased stock based compensation and overall sales levels.
Other income for the quarter ended September 30, 2024, was $7.8 million, primarily due to a gain from a change in the fair value of earnout liability of $5.5 million, change in fair value of warrant liability of $1.5 million and change in fair value of convertible debt of $0.4 million.
Net income for the quarter ended September 30, 2024, was $6.2 million, or $0.25 per basic share, primarily related to noncash income of $7.8 million.
Net cash used in operating activities was $0.4 million in the quarter ended September 30, 2024.
Cash and cash equivalents was $6.5 million as of September 30, 2024.
Closed an $8 million public offering with net proceeds of approximately $7.3 million, after deducting the estimated offering expenses, in the quarter ended September 30, 2024.
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