Jaguar8 commented on a stock · Aug 14 15:46

NEWS ER

Airship AI Reports Second Quarter 2024 Financial Results

▪️Positive
Strong Q2 2024 net revenues of $6.4 million

High gross margin of 70% in Q2 2024
Operating income of $1.0 million for Q2 2024

First half 2024 revenue of $17.0 million, 128% of full-year 2023 revenue

Backlog of $2.0 million in firm fixed price contracts

Increase in total validated pipeline to ~$150 million

Completed delivery of $10.9 million in contracts for U.S. Department of Homeland Security

New partnerships with T-Mobile U.S. and Skydio, Inc.

Addition to Russell 3000®, Russell 2000® and Russell Microcap® Indexes

▪️Negative
Net cash used in operating activities was $2.5 million in Q2 2024

Cash and cash equivalents decreased to $1.4 million as of August 14, 2024

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