Summary by Moomoo AI
On September 3, 2024, Airship AI closed an $8 million public offering, issuing 2,882,883 shares of common stock and warrants, raising approximately $7.3 million in net proceeds. The company plans to use these funds for working capital and general corporate purposes.For the quarter ended September 30, 2024, Airship AI reported net revenues of $2.87 million, a 20.3% increase YoY, driven by increased product sales. The company achieved a net income of $6.21 million, compared to a net loss of $1.67 million in the same period last year, primarily due to gains from changes in fair value of financial instruments.Airship AI's financial position improved with cash and cash equivalents rising to $6.52 million as of September 30, 2024, from $3.12 million at the end of 2023. The company remains focused on expanding its AI-driven data management solutions.
