Airship AI Holdings

AISP

Software - Infrastructure · Technology

Price

$2.00

-0.04 (-1.96%)

Market Cap

$68.9M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count falling — buybacks

−6.8% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 41.5M (2021) → 38.7M (2025)

Airship AI Holdings is a technology company that builds software and hardware systems for surveillance and data management. Its main products help government agencies, law enforcement, and public safety organizations collect, store, and analyze video footage and sensor data in real time. The company competes in the AI-powered surveillance infrastructure market, where it sells integrated systems that connect cameras, edge devices, and cloud-based analytics tools.

Airship AI earns revenue by selling hardware systems and software licenses, along with recurring service and maintenance contracts. It operates primarily in the United States, serving federal, state, and local government customers, and is a small-cap company with a market cap around $100 million. Its negative operating margin shows it is still spending more than it earns, and the key growth driver is expanding its government contract base — though reliance on public-sector budgets and a competitive landscape that includes much larger defense and security technology firms remains a significant risk.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+15.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-102.8% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$3.1B/ year

↑ Rising (+109578% vs prior year)

>1,000% of revenue

1338.6x the sector average (15%)

Investing heavily in future products and technology

Insider Activity

28.8%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Position

Cash flow positive

$12.6B cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Heavy R&D investment

Airship AI Holdings is putting 20080% of revenue into R&D and that number is rising. That's 1338.6x the sector average. And they're generating enough cash to self-fund it.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

49.8%

Healthy — 49.8% gross margin

Operating Margin

-24.9%

Losing money on operations — -24.9%

ROCE

N/A

—

Data not available

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Growth

Sales YoY

-10.1%

Shrinking sales (-10.1% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

-37285%

Weak — only -37285% of profit becomes cash

FCF Margin

-11280.5%

Burning cash (-11280.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

—

Data not available

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

15.5x

Fair value — P/E 15.5

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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