Reading the annual reports…
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
AISP · Nasdaq · United States · Services-Prepackaged Software
In shortAirship AI Holdings, Inc. is profitable, burns cash and holds more cash than debt, with revenue shrinking (−33.5% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -47.1% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 191.4% | 100/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | – | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 2.94× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | – | 0/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | -6.29 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -52.2% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | -0.27× | 0/100 |
| Years with positive free cash flow (last 5) | 0 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 3 of 5 | 60/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 3 | 0/100 |
| Revenue growth volatility | 65.2% | 0/100 |
| Operating margin volatility | 19.5% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 1.7% | 26/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | – | 15 | 12 | 23 | 15 |
| Cost of revenue | – | 6.1 | 6.5 | 13 | 7.6 |
| Gross profit | – | 8.4 | 5.8 | 11 | 7.7 |
| Research & development | – | – | 2.7 | 2.8 | 3.1 |
| Selling, general & admin | 0.1 | 7.6 | 9.7 | 11 | 12 |
| Operating income | (1) | (2.8) | (6.6) | (3.5) | (7.2) |
| Interest expense | – | 0.1 | 0.1 | – | – |
| Pre-tax income | – | – | 16 | (57) | – |
| Income tax | – | 0 | 0 | 0 | 0 |
| Net income | 5 | (0.5) | 16 | (57) | 29 |
| Diluted EPS | – | – | $0.80 | −$2.34 | $0.76 |
| Diluted shares (millions) | – | 13 | 20 | 25 | 39 |
The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.
The last 8 quarters of Airship AI Holdings, Inc. are included in the Investor plan. Try free for 7 days →
−6.29 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
5/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 6, 2026