Stock of the day: Airship AI (AISP)

FutureGate | Airship AI has reported strong financial performance, with its 9-month financials showing impressive growth. The company achieved $19.8 million in revenue, a 61% increase over FY 2023, and is forecasting positive cash flow by the end of 2024. A backlog of $6 million is set to be invoiced in Q4 2024 or Q1 2025, further strengthening its financial outlook. Gross profit rose to $9.3 million, marking a 60% YoY increase, with a solid gross margin of 75%.

The company has maintained 50% internal ownership and boasts a market cap of $126 million. With a pipeline of around $130 million in orders, Airship AI is well-positioned for future growth. Notably, it secured a $4 million contract with the U.S. Department of Homeland Security (DHS) for AI-powered border surveillance solutions, signaling significant potential for expansion in this space. Following a successful border surveillance pilot, Airship AI has a $50 million+ project slated for the next four years, further strengthening its market presence.

With the addressable market for AI surveillance technology expected to grow from $7 billion to $40 billion by 2030, Airship AI stands to benefit from the increasing demand for advanced surveillance solutions. Additionally, the company is poised to capitalize on policies from the previous administration, particularly in the area of border security, positioning it for continued success in the expanding government contracts sector.

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