Summary by Moomoo AI
Airship AI Holdings, Inc., a leading provider of AI-driven data management platforms, has announced its financial results for the fiscal year ended December 31, 2023. The company reported a net income of $16,371,134, a significant turnaround from the net loss of $487,493 in the previous year. This improvement was attributed to various factors, including the successful completion of a merger with BYTE Acquisition Corp. ('BYTE'), which resulted in net proceeds of $2.8 million. The merger was treated as a reverse recapitalization, with Airship AI being the accounting acquirer. The company's revenue streams include product sales, post-contract support, and other services, with a total net revenue of $12,300,000 for the year. Despite the positive net income, Airship AI reported a working capital deficit of...Show More
