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REDMOND, Wash. - Airship AI Holdings, Inc. (NASDAQ:AISP), a $186 million market cap company whose stock has surged over 170% in the past year, has been awarded 16 individual contracts from agencies within the Department of Justice and Department of Homeland Security for its AI-driven surveillance solutions, the company announced Monday.
The contracts will support public safety and investigative requirements through Airship AI’s video, sensor, and data management surveillance platform, according to a press release statement. With a healthy gross profit margin of 52% and current revenue of $13.7 million, InvestingPro data shows the company operates with moderate debt levels while maintaining strong growth potential.
The company’s technology aggregates thousands of edge-generated feeds into a unified interface, providing real-time alerts on suspicious activity. At the center of these capabilities is Outpost AI, the company’s edge-based appliance that uses proprietary models to detect user-defined objects and events.
Paul Allen, President of Airship AI, said the awards "reinforce and expand our existing deployed capabilities" while opening opportunities for additional agency requirements. In one instance, following pilot deployments that reportedly replaced underperforming competitive systems, the company’s platform was selected as the preferred solution for future infrastructure requirements.
The company is pursuing additional opportunities whose funding shifted from the fourth quarter into the first quarter of the government’s fiscal year, as well as new opportunities that emerged in the third quarter.
Airship AI, founded in 2006 and headquartered in Redmond, Washington, provides AI-driven surveillance technology that aims to improve public safety and operational efficiency for public sector and commercial customers. According to InvestingPro analysis, analysts have set an optimistic price target of $11 for the stock, with additional insights and financial metrics available to subscribers. Get access to 8 more exclusive ProTips and detailed company analysis with an InvestingPro subscription.
In other recent news, Airship AI Holdings, Inc. announced updates to its corporate governance framework. The company’s board of directors has approved revised versions of the Audit Committee, Compensation Committee, and Nominations and Corporate Governance Committee charters. This update comes after a periodic review of these governing documents, which were initially adopted earlier this year. The revised charters have been filed with the Securities and Exchange Commission and are accessible on the company’s website. These updates reflect Airship AI Holdings’ commitment to maintaining robust governance practices.
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