On August 14, 2024, Airship AI, a leader in AI-driven surveillance solutions, reported its financial results for the second quarter ended June 30, 2024. The company announced net revenues of $6.4 million, a gross profit of $4.5 million, and a gross margin of 70%. The operating income for the quarter was $1.0 million, marking significant progress towards the company's full-year cash flow positive goal. The first half of 2024 saw combined net revenues of $17.0 million, which is 128% of the full-year revenue in 2023. The company's backlog as of June 30, 2024, was approximately $2.0 million, with expectations to ship and invoice in the latter half of the year. Airship AI also highlighted a $30 million opportunity following a successful pilot for a federal agency, with potential expansion in Q4 2024. The...Show More

On August 14, 2024, Airship AI, a leader in AI-driven surveillance solutions, reported its financial results for the second quarter ended June 30, 2024. The company announced net revenues of $6.4 million, a gross profit of $4.5 million, and a gross margin of 70%. The operating income for the quarter was $1.0 million, marking significant progress towards the company's full-year cash flow positive goal. The first half of 2024 saw combined net revenues of $17.0 million, which is 128% of the full-year revenue in 2023. The company's backlog as of June 30, 2024, was approximately $2.0 million, with expectations to ship and invoice in the latter half of the year. Airship AI also highlighted a $30 million opportunity following a successful pilot for a federal agency, with potential expansion in Q4 2024. The company completed delivery of contracts worth $10.9 million awarded by the U.S. Department of Homeland Security for border intelligence operations. Additionally, Airship AI was added to the Russell 3000, Russell 2000, and Russell Microcap Indexes as of June 28, 2024. Looking forward, Airship AI expects triple-digit revenue growth and positive cash flow for 2024, supported by a strong pipeline and strategic investments. Paul Allen, President of Airship AI, expressed confidence in the company's trajectory and its technology's role in public safety and physical security.