How profitable is Airship AI Holdings Inc. (Class A) (AISP)?

In FY 2025 (10-K), AISP converted $15.3M of revenue into a 50.2% gross margin, 0% operating margin, and $0 in free cash flow (0% FCF margin).

Stock Ratings / Technology / AISP / financials

FATN (55) CCLD (51) CMCM (24) ROC (27) ⌘ Pro Terminal →

Airship AI Holdings Inc. (Class A) (AISP) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$2.01 -3.36% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $1.99

Airship AI Holdings Inc. (Class A) (AISP) carries a Roarable Rating of E (Strong Sell) with 16/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE E • RED ALERT Cap $71.6M

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

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🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is AISP stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-03, Airship AI Holdings Inc. (Class A) (NASDAQ: AISP) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 16/100 at a spot price of $2.01 (-3.36% 1D, market cap $71.6M). Pillar breakdown: Fundamental Cash Engine 3/20, Institutional 13F & Options Flow 6/20, SEC Balance-Sheet Forensics 4/20, FRED Macro Regime Fit 3/20, and Executive Insider Alignment 3/20. Across 715 tracked Technology issuers, AISP ranks #711 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does AISP compare to FATN and CCLD in the Technology sector?

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Within the Technology sector (Computer Software: Prepackaged Software), AISP carries a Roarable E (16/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of -35.0%. By comparison, FATN (FatPipe Inc.) holds a D+ grade (55/100 RQD, P/E 15.1x, ROIC 13.4%, cap $72.1M) and CCLD (CareCloud Inc.) posts a D grade (51/100 RQD, P/E N/A, ROIC 15.1%, cap $74.8M). Among the 5-stock peer group, FATN leads on earnings multiple (15.1x) while CCLD leads on capital efficiency (15.1% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for AISP?

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Per AISP's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001842566), Airship AI Holdings Inc. (Class A) generated $15.3M in revenue (-33.5% YoY), $29.3M in net income, and -$8.0M in free cash flow against $19.5M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Technology with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $1.99 (-0.79%)🧬 Dilution Drag (+2.48% YoY Shares)⚙️ Cash Engine: 3/20 (E) • 0% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record Warning: Scores below 50 (16/100 · E) historically underperformed SPY in 71% of rolling 90-day windows (-12.7% avg 90D alpha vs SPY • 29.0% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERRED ALERT • E

3-of-3 JEV AI Jury Bearish Warning

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw E · Rk E

Each axis scored 0–20

12M PRICE TARGET CONE-18.9% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for AISP)Realized 20D OHLCV Swing Band: ±12.5%

Deterministic 5-Pillar Attribution (16/100 Composite)

🔍 WHY AISP SCORES 16/100 (E) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: Whale & Options Positioning+6/20 pts (38% of score)

20D Institutional Volume Accumulation (±12.5% realized swing band)

▲ #2 Bullish Driver: Cash Engine Quality+4/20 pts (25% of score)

SEC XBRL FY 2025 (10-K): 0% FCF Margin ($0 FCF) & 50.2% Gross Margin

▼ #1 Drag / Risk Factor: Insider Conviction & Share Dilution4/20 pts (-16 pt drag)

Dilution Drag (+2.48% YoY Shares) & executive Form 4 sales trim 16 pts from alignment

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade E$2.24-3.6% Next Q

Q2 (-2Q)

Grade E$2.16+6% Next Q

Q3 (-1Q)

Grade E$2.29-12.2% Next Q

Current

Grade E$2.01-12.7% Hist 90D α

Trajectory: E (24) → E (16)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a AISP Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While AISP currently carries a cautious 16/100 (E) rating due to Insider Conviction & Share Dilution (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Technology with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($2.09) and Max Pain ($2.11) forces dealer call-delta covering toward $5.11.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Dilution Drag (+2.48% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $AISP• $4.8M Crowd Pool • Kalshi / Polymarket Composite

Contract: “AISP Beats Next Quarterly Revenue & EPS Consensus + Hyperscaler AI CapEx Holds Record Pace”

YES 18%NO 82%Trade / Inspect Odds →

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How AISP Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$0 (0% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $12.3M

FY24

Rev $23.1M

FY25

Rev $15.3M

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$15.3M	50.2%	-47.1%	$29.3M	-$8.0M	-45%
FY 2024	$23.1M	45.7%	-15.2%	-$57.5M	-$6.5M	-45%
FY 2023	$12.3M	50.2%	-54%	$16.4M	-$3.3M	-35%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring AISP)

✓Walkthrough of AISP's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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AISP // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -19.60%📐 WEDGE COMPRESSION COIL

2026-11-03O $2.25H $2.25L $2.01C $2.01VOL 421.3K

RES: $2.73SUP: $1.78SMA50: $2.09SMA200: $2.38

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

AISP Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 AISP Butterfly Map → + Track AISP →

Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle

8.0%/yr Implied 5Y Growth

vs. -33.5% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on AISP today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for AISP. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for AISP today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (AISP)

Technology Rank #711 of 715 ⚔️ FATN vs AISP Full Matrix →

1. Head-to-Head Technology Peer Comparison (AISP vs. FATN, CCLD, CMCM, ROC)

Industry: Computer Software: Prepackaged Software (222 Tracked Issuers)

Across 715 tracked Technology securities in the Roarable RQD universe, Airship AI Holdings Inc. (Class A) (AISP) ranks #711 by composite RQD confidence (16/100, grade E) and #540 by equity capitalization ($71.6M). Within this direct 5-issuer industry benchmark cohort, FATN leads on earnings valuation at 15.1x trailing P/E, while CCLD leads on capital efficiency and profitability with 15.1% ROIC and — gross margin. FATN currently holds the highest overall quantitative score in the immediate peer group at 55/100 (D+) compared with AISP at 16/100 (E).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
AISP ACTIVE Airship AI Holdings Inc. (Class A)	E	16/100	—	—	-35.0%	-3.36%	$71.6M	Benchmark Subject
FATN FatPipe Inc.	D+	55/100	15.1x	91.0%	13.4%	-1.96%	$72.1M	/fatn-vs-aisp →
CCLD CareCloud Inc.	D	51/100	—	—	15.1%	-2.27%	$74.8M	/ccld-vs-aisp →
CMCM Cheetah Mobile Inc. each representing fifty (50) (Class A)	E	24/100	—	72.5%	-35.0%	+1.24%	$75.8M	/cmcm-vs-aisp →
ROC Rank One Computing Corporation	E	27/100	—	77.2%	-35.0%	+5.40%	$67.2M	/roc-vs-aisp →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001842566 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Airship AI Holdings Inc. (Class A) (AISP) reported GAAP revenue of $15.3M (-33.5% vs. FY2024 revenue of $23.1M , and +24.6% cumulative change since FY2023) , GAAP net income of $29.3M, operating cash flow of -$8.0M, and free cash flow of -$8.0M (-23.1% YoY). On the balance sheet, AISP closed FY2025 with $19.5M in total assets against $0 in total debt (Altman Z-Score: 0.20, Piotroski F-Score: 3/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$15.3M	$29.3M	-$8.0M	-$8.0M	$19.5M	—
FY2024 (FY)	2024-12-31	$23.1M	-$57.5M	-$6.5M	-$6.5M	$13.7M	—
FY2023 (FY)	2023-12-31	$12.3M	$16.4M	-$3.3M	-$3.3M	—	—

3. AISP Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is AISP stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does AISP compare to FATN and CCLD in the Technology sector?

What are the biggest fundamental strengths and SEC risk factors for AISP?

Where is AISP trading relative to its 50-day, 200-day, and 52-week technical levels?

AISP last traded at $2.01 (-3.36% on volume of 416,915 shares), positioning the stock -3.83% below its 50-day simple moving average ($2.09) and -15.55% below its 200-day simple moving average ($2.38). Across its 52-week range of $1.68 to $4.87, AISP sits at the 10.3% percentile with a 14-day RSI of 47.3 (NEUTRAL RANGE) and an implied next-earnings move of ±12.5% ($1.76 to $2.26).

Direct Sub-Reports: AISP RQD Cockpit AISP 12M Forecast AISP Earnings & Move AISP Dividends & DRIP AISP Insiders & 13F AISP Whale Options AISP Profit Sankey AISP News & Why

ROARABLE RATING BRIEF • RQD 16/100 (E) ✓ SEC XBRL & RQD VERIFIED

AISP — Airship AI Holdings Inc. (Class A): What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit

Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Airship AI Holdings Inc. (Class A) (AISP) earns a live Roarable RQD composite score of 16/100, corresponding to a E letter grade (Roarable Strong Sell) at a spot price of $2.01 (-3.36% 1D, market capitalization $71.6M).

Fundamental Cash Engine (3/20): Anchored by return on invested capital (ROIC) of -35.0%, gross margin of —, operating margin of -47.1%, and free cash flow yield of -10.33%.
Whale 13F & Options Flow (6/20) + Insider Conviction (3/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
Macro Regime Fit (3/20) + Forensic Balance Sheet (4/20): Incorporates a 1.00x equity beta, Altman Z-Score of 0.20, Piotroski F-Score of 3/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Airship AI Holdings Inc. (Class A) (AISP) is a NASDAQ-listed issuer in the Technology sector, operating in the Computer Software: Prepackaged Software industry. The company's customers, product lines, and revenue model are not described in the source data beyond the sector and industry classification. Reported revenue for FY 2025 was $15.3M (), indicating an operating business rather than a pre-revenue entity.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Airship AI Holdings Inc. (Class A) (AISP) reported $15.3M in annual revenue (up from $23.1M in FY2024, -33.5% YoY) and $29.3M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($12.3M revenue, $16.4M net income) through FY2025, AISP scaled operating cash flow to -$8.0M and free cash flow to -$8.0M, backed by $19.5M in total assets against $0 in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

🐂 Primary Bull Case (E • RQD 16/100): Established market leader in Technology with deep daily trading liquidity. Free cash flow yield of -10.33% and institutional whale pillar of 6/20. With Fundamental Cash Engine at 3/20 and Institutional Whale Flow at 6/20, sustained execution supports upside toward the upper end of the $1.68 – $4.87 52-week range.
🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh current valuation against -47.1% operating margins and a 1.00x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

No supply-chain dependencies, butterfly links, or proprietary signals are mapped for AISP. The only sector context is the Technology / Computer Software: Prepackaged Software classification.

Key Question #1: Can AISP sustain or expand its -47.1% operating margin and -35.0% ROIC against Computer Software: Prepackaged Software peers over the next 4 quarters?
Key Question #2: Following FY2025 revenue of $15.3M and free cash flow of -$8.0M, how will capital allocation balance growth reinvestment against $0 in total debt?
Key Question #3: How sensitive is AISP's equity valuation to Technology capital spending cycles and macro interest-rate shifts (Beta 1.00x)?

AISP Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Airship AI Holdings Inc. (Class A) (AISP) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to AISP Debate Forum (3) ↓

🔴 RISK WATCH Yahoo Finance • 22h ago

BigBear.ai vs. Airship AI: Which Security AI Stock Offers the Better Bet?

Yahoo Finance report covering Airship AI Holdings Inc. (Class A) (AISP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

Airship AI’s $29 Million DHS Deal Could Change Everything

Yahoo Finance report covering Airship AI Holdings Inc. (Class A) (AISP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Kalkine • 1d ago

Why is Airship AI (AISP) proposing a move to Nevada?

Kalkine report covering Airship AI Holdings Inc. (Class A) (AISP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE kalkine.ca • 1d ago

Airship AI Holdings Inc (NASDAQ: AISP) Share Price, AISP Stock News, AISP Share Price & Updates

kalkine.ca report covering Airship AI Holdings Inc. (Class A) (AISP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST Yahoo Finance • 1d ago

Airship AI Secures $1.7 Million in Incremental Software Platform Awards; Validated Contract Backlog Expands to Record $30.6 Million

Yahoo Finance report covering Airship AI Holdings Inc. (Class A) (AISP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE https://www.siam.in/ • 1d ago

Airship AI Holdings (AISP) Edges to $2.16 as Traders Watch $2.27 Resistance - Gap Up Stocks

https://www.siam.in/ report covering Airship AI Holdings Inc. (Class A) (AISP) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

AISP Bull vs. Bear Conversation Board — What's Your Call at $2.01?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON AISP 🐻 33% BEARISH CONVICTION

QU QuantViper RQD DEBATE OPENER • Systematic Momentum Desk 🐂 BULLISH 🎯 Target: $2.66 (+27.9%)

📌 Pinned Debate

Institutional accumulation and options positioning score 9 of 20, the strongest RQD pillar, and a GREEN-flagged $1.7 Million platform a

Picked up a starter position in AISP in my $100K Virtual Cash book at $2.08. Institutional accumulation and options positioning score 9 of 20, the strongest RQD pillar, and a GREEN-flagged $1.7 Million platform award expands validated backlog to a record $30.6 Million.. Trading inside a $1.68–$4.87 52-week range with -10.33% FCF yield gives solid downside support if Computer Software: Prepackaged Software multiples expand this quarter.

RetailWhale_TX 🐂 BULL

Both sides have a point here — AISP's 4/20 balance sheet score keeps downside contained, so the real swing factor next earnings call is backlog and FCF conversion.

RE RedlineAuditor RQD DEBATE OPENER • Accounting Quality Watch 🐻 BEARISH 🎯 Target: $1.77 (-14.9%)

Spot @ $2.08

Operating income was negative in all three reported periods, ROIC is -35%, and Altman Z of 0.2 places the balance sheet in forensic-ris

Fading this rally in AISP at $2.08. Operating income was negative in all three reported periods, ROIC is -35%, and Altman Z of 0.2 places the balance sheet in forensic-risk territory under the RQD rating.. With a beta of 1.0 and the stock sitting at $2.08 (52-wk range $1.68–$4.87), the easy multiple expansion is already priced in.