Airship AI Holdings, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 5, 2026, reporting net income of $9,614,566 for the third quarter.

Key Highlights

  • Net income of $9,614,566 for the three months ended September 30, 2026, compared to $6,409,873 for the same period in 2025, according to the filing.
  • Total net revenues of $6,231,073 for Q3 2026, up from $1,177,450 in Q3 2025, the company disclosed.
  • Nine-month net income of $6,487,401 for the period ended September 30, 2026, versus $6,360,807 for the nine months ended September 30, 2025.
  • Total stockholders' equity turned positive at $1,539,743 as of September 30, 2026, compared to a deficit of $(7,149,642) as of December 31, 2025.
  • Warrant liability decreased to $5,831,002 as of September 30, 2026, from $13,328,006 as of December 31, 2025, reflecting a gain from change in fair value of warrant liability of $7,497,004 for the nine months ended September 30, 2026.
  • 34,439,562 shares of common stock issued and outstanding as of November 5, 2026, the filing stated.

Airship AI Holdings Q3 2026 Financial Results: Revenue Growth and Liability Reductions

According to the filing, Airship AI Holdings, Inc. (NASDAQ:AISP) reported total net revenues of $6,231,073 for the three months ended September 30, 2026, a significant increase from $1,177,450 in the comparable prior-year quarter. Product revenue accounted for $3,738,712 of Q3 2026 revenue, while post contract support contributed $2,482,176, and other services added $10,185. For the nine months ended September 30, 2026, total net revenues reached $16,708,156 compared to $8,827,368 for the same period in 2025.

The company disclosed gross profit of $3,502,916 for Q3 2026, up from $603,836 in Q3 2025, with gross profit for the nine-month period reaching $9,766,510 versus $4,371,357 a year earlier. Operating expenses for the three months ended September 30, 2026 totaled $4,063,569, resulting in an operating loss of $(560,653). The net income figure for Q3 2026 was driven primarily by other income, which the filing attributes largely to a gain from change in fair value of warrant liability of $6,830,603 and a gain from change in fair value of earnout liability of $3,231,048 for the quarter.

The condensed consolidated balance sheet as of September 30, 2026 showed total assets of $20,785,572 and total liabilities of $19,245,829. Cash and cash equivalents stood at $12,743,874, up from $11,750,021 at December 31, 2025. The accumulated deficit narrowed to $(39,132,825) from $(45,620,227) at December 31, 2025. Basic net income per share for Q3 2026 was $0.28, and diluted net income per share was $0.25, the filing reported. The company disclosed zero provision for income taxes for both the three- and nine-month periods ended September 30, 2026 and 2025.

What Was Disclosed

Airship AI Holdings filed its quarterly report covering the period ended September 30, 2026, disclosing revenue growth, a return to positive stockholders' equity, reductions in warrant and earnout liabilities, and net income for Q3 2026 of $9,614,566.