Airship AI Holdings, Inc. (AISP) Stock

Airship AI Holdings, Inc. (AISP) is a Technology stock trading at $2.03 (as of 2026-08-20), with a market capitalization of $69.91M and a trailing P/E of 27.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Airship AI Holdings, Inc. develops an AI-based surveillance platform that manages video, sensor inputs, and related data. Its offerings include an operating system for IP and analog video surveillance, tools for visualizing ingested edge data and evidence, and recording with configurable low-bit-rate streaming, serving government and public sector, law enforcement, military, and commercial customers in the United States.

Understand Airship AI Holdings, Inc.: how it makes money

Airship AI Holdings provides an AI-driven video, sensor, and data management surveillance platform, it sells the Airship Acropolis OS IP and analog video surveillance software along with Airship Command visualization tools and Airship Outpost encoding for surveillance use cases, and it makes money via net revenues reported across product, post contract support, and other services.

The company’s profit model depends on scaling net revenues from its surveillance platform offerings (product, post contract support, and other services), but the latest quarter shows very small reported revenue and a negative operating margin.

Revenue by segment (latest quarter)
NetRev	$0.0B

Business quality (Weak): Core business description is clear and gross margin is positive, but the latest quarter has minimal reported revenue and the operating line is still loss-making, and the provided operating KPI is not directly tied to revenue growth.

Valuation: Trades at 23× trailing earnings · $0B market cap.

Bull case

Platform offering breadth across the surveillance workflow: The company offers Acropolis OS (surveillance), Command (visualization of ingested evidence), and Outpost (high-definition recording and user-defined low-bit-rate encoding).
Gross margin is reported as positive: For the quarter ended 2026-03-31, gross_margin_pct is 49.8.

Bear case

Operating losses persist: For the quarter ended 2026-03-31, operating_margin_pct is -24.9.
Revenue scale is very small in the latest reported period: Total revenue_b is reported as 0.0B for 2026-03-31, while segment net revenues are 0.01B, leaving limited cushion to absorb costs.
The provided operating KPI may not track monetization: The only operating metric provided is event attendance (Number of Attendees at Customer Technology Week), which does not by itself confirm revenue conversion.

Valuation — source: SEC EDGAR (first-party)
Price	$2.03
Market Cap	$69.91M
P/E Ratio	27.3
Price / Sales	3.88

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$15.32M
Net Margin	191.4%
Revenue Growth (YoY)	-33.5%
EPS Growth (YoY)	-138.5%

Financial Health — source: SEC EDGAR
Altman Z-Score	-1.39 (distress)

Valuation vs Sector & Industry
Stock P/E	27.3
Sector P/E (Technology)	33.9
Industry P/E (Business Services)	30.0
vs Sector	-19.6%
vs Industry	-8.9%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($3.44M)
Institutional Holders Tracked	10

Company
Sector	Technology
Industry	Business Services
CEO	Victor Huang
Employees	53
Country	US
IPO Date	2021-05-10

Related Companies (Business model: SaaS / Subscription Software (Enterprise); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.