Recommendation: Speculative Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 2 Jul, 25 | AISP | Speculative Buy | USD 5.54 | USD 5.82 | USD 6.15 | 1 day | Closed |
11.37%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
Airship AI Holdings, Inc. provides artificial intelligence (AI)-driven video, sensor, and data management surveillance platform in the United States. The company offers Outpost AI, an edge-based device for video and metadata recording; Airship Command, a suite of visualization tools that allows customers to interact with their data and devices; and Acropolis, an enterprise management software. It serves government, public sector, law enforcement, military, and commercial enterprise organizations. The company is headquartered in Redmond, Washington.
Robust Sales Pipeline: The validated sales pipeline at the end of Q1 2025 stood at approximately USD 135 million, reflecting strong future revenue potential across multiple customer verticals
Net Income Boosted by Fair Value Adjustments: Q1 2025 net income reached USD 23.7 million, mainly driven by USD 25.4 million in non-cash income from changes in earnout and warrant liability valuations
Cash Burn from Operations: Net cash used in operating activities was USD 2.1 million in Q1 2025, highlighting ongoing reliance on external funding or capital raises
Operating Loss: The company incurred an operating loss of USD 1.7 million in Q1 2025, driven by elevated compensation and marketing expenses
Airship AI faces material risk from its dependency on government contracts with restricted disclosure and long award cycles, which could lead to revenue volatility and limit investor visibility into sales execution
| Entry Price | Support* | Target 1 | Target 2 |
|---|---|---|---|
| 5.54 | 5.1 | 5.82 | 6.15 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
Solid Financial Foundation Amid Market Transition: Airship AI Holdings, Inc. reported net revenues of USD 5.5 million and gross profit of USD 2.2 million in the first quarter of 2025, achieving a gross margin of 40%. The margin performance reflected a higher proportion of third-party hardware sales relative to proprietary software. Despite an operating loss of USD 1.7 million—attributed to increased stock-based compensation and sales and marketing investments—the company reported a net income of USD 23.7 million, primarily due to non-cash gains totaling USD 25.4 million from revaluations of earnout and warrant liabilities.
Strengthened Sales Organization and Pipeline Expansion: During the quarter, Airship AI significantly expanded its sales and engineering teams by onboarding experienced professionals with deep industry knowledge and established networks. These additions are expected to accelerate revenue generation. The company also reported a robust validated sales pipeline valued at approximately USD 135 million, with a diversified mix of single- and multi-year opportunities across customer verticals. Backlog at the end of Q1 stood at USD 2.0 million, representing firm, fixed-price contracts expected to be executed within 2025.
Strategic Engagement and Market Penetration Initiatives: Airship AI actively participated in several tradeshows and hosted key events to raise brand awareness and deepen customer engagement. These included both public and private sector-focused showcases, such as its invite-only government event in Texas, which centered on southern border security solutions. These initiatives are aligned with the company’s shift toward a partner-driven sales model, further integrating with manufacturers and integrators to deliver comprehensive AI-driven surveillance and data management solutions.
Product Innovation and Platform Enhancements Underway: Innovation remains a core focus for Airship AI in 2025. The company plans to introduce new Outpost AI products and enhance its Acropolis software platform to support more advanced edge and cloud deployments. Development is also underway on AI models tailored to emerging analytical workflows and a Generative AI interface designed to improve customer data interaction. These efforts reflect Airship’s commitment to staying at the forefront of AI-based security technologies.
Capital Structure and Market Readiness: To support its growth strategy, Airship AI executed a USD 25 million At-the-Market (ATM) equity offering agreement with Roth Capital Partners and secured an effective shelf registration of up to USD 50 million in securities. These financing tools provide the company with capital flexibility to fund expansion, product development, and strategic initiatives. Cash and equivalents at the end of Q1 totaled USD 8.8 million, though operating cash usage was USD 2.1 million during the quarter.
Macro Tailwinds and Public Sector Momentum: The new U.S. administration’s increased focus on border security and public safety has introduced favorable macroeconomic conditions for Airship AI. Supplemental federal appropriations are expected to result in increased customer funding across agencies, many of whom are currently engaged in market research discussions regarding AI-powered surveillance solutions. Airship anticipates these developments will convert to tangible contracts by late Q2 and Q3 2025.
Optimistic Outlook Supported by Execution Capability: Management reaffirmed guidance for 30% year-over-year revenue growth and a move to positive cash flow in 2025. This confidence is backed by ongoing strategic investments, a growing sales pipeline, product innovation, and operational discipline. The company also emphasized resilience against tariff pressures due to its U.S.-based software operations and proactive global inventory strategies for hardware components.
Considering recent key business, financial updates, current trading levels, and key business risks, a ‘Speculative Buy’ recommendation has been given on Airship AI Holdings, Inc (NASDAQ: AISP) at the closing market price of USD 5.54, as on July 01, 2025.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Technology Industry: Software - Infrastructure
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| AISP Airship AI Holdings Inc |
0.07 1.20% | 5.89 | 8.74 | 169.49 | 5.87 | - | 5.60 | 8.07 |
| MSFT Microsoft Corporation |
7.75 1.58% | 498.84 | 37.32 | 29.94 | 13.03 | 12.45 | 13.06 | 24.59 |
| ORCL Oracle Corporation |
7.34 3.19% | 237.32 | 29.34 | 18.66 | 5.55 | 74.06 | 7.10 | 18.13 |
| ADBE Adobe Systems Incorporated |
0.84 0.22% | 379.31 | 46.32 | 26.81 | 11.51 | 16.73 | 11.55 | 31.20 |
| PANW Palo Alto Networks Inc |
4.85 2.46% | 201.82 | 44.57 | 45.05 | 11.98 | 20.70 | 11.82 | 77.11 |
Data Powered by EOD Historical Data (“EODHD”).
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is July 01,2025. The reference data in this report has been partly sourced from REFINITIV.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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