{"url_path":"/sec/aispw/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1842566/0001654954-26-004630-index.html","accession_number":"0001654954-26-004630","cik":"0001842566","ticker":"AISP","issuer_name":"Airship AI Holdings, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1842566/0001654954-26-004630-index.html","primary_entity_key":"0001842566","primary_entity_name":"Airship AI Holdings, 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STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**Washington, D.C. 20549**\n\n \n\n**FORM 10-Q**\n\n(Mark One)\n\n \n\n☒\n\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor the quarterly period ended: **March 31, 2026**\n\n \n\n☐\n\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor the transition period from ____________ to _____________\n\n \n\nCommission File No. **001-40222**\n\n \n\n**Airship AI Holdings, Inc.**\n\n(Exact name of registrant as specified in its charter)\n\n \n\n**Delaware**\n\n \n\n**93-4974766**\n\n(State or other jurisdiction of incorporation or organization)\n\n \n\n(I.R.S. Employer Identification No.)\n\n \n\n \n\n \n\n**8210 154th Ave NE, Redmond, WA**\n\n \n\n**98052**\n\n(Address of principal executive offices)\n\n \n\n(Zip Code)\n\n \n\n**(877) 462-4250**\n\n(Registrant’s telephone number, including area code)\n\n \n\n \n\n(Former name, former address and former fiscal year, if changed since last report)\n\n \n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\n**Title of each class**\n\n \n\n**Trading Symbol(s)**\n\n \n\n**Name of each exchange on which registered**\n\nCommon Stock\n\n \n\nAISP\n\n \n\nThe Nasdaq Stock Market LLC\n\nWarrant\n\n \n\nAISPW\n\n \n\nThe Nasdaq Stock Market LLC\n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒      No ☐\n\n \n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒      No ☐\n\n \n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer\n\n☐\n\nAccelerated filer\n\n☐\n\nNon-accelerated filer\n\n☒\n\nSmaller reporting company\n\n☒\n\n \n\n \n\nEmerging growth company\n\n☒\n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐      No ☒\n\n \n\nAs of May 8, 2026, there were a total of 34,439,562 shares of the registrant’s common stock issued and outstanding.\n\n \n\n \n\n \n\n \n\n**Airship AI Holdings, Inc.**\n\n \n\n**Quarterly Report on Form 10-Q**\n\n**Quarterly Period Ended March 31, 2026**\n\n \n\n**TABLE OF CONTENTS**\n\n \n\n[PART I](#p1)\n\n[Item 1.](#i1)\n\n[Financial Statements (Unaudited).](#i1)\n\n \n\n3\n\n \n\n[Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025](#bs)\n\n \n\n3\n\n \n\n \n\n[Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income for the three months ended March 31, 2026 and 2025](#so)\n\n \n\n4\n\n \n\n \n\n[Condensed Consolidated Statements of Changes in Stockholders’ Deficit](#se)\n\n \n\n5\n\n \n\n \n\n[Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025](#cf)\n\n \n\n6\n\n \n\n \n\n[Notes to the Condensed Consolidated Financial Statements](#nt)\n\n \n\n7\n\n \n\n[Item 2.](#i2)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i2)\n\n \n\n24\n\n \n\n[Item 3.](#i3)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#i3)\n\n \n\n29\n\n \n\n[Item 4.](#i4)\n\n[Controls and Procedures](#i4)\n\n \n\n30\n\n \n\n \n\n \n\n \n\n \n\n \n\n[PART II](#p2)\n\n[Item 1.](#p2i1)\n\n[Legal Proceedings](#p2i1)\n\n \n\n31\n\n \n\n[Item 1A.](#p2i1a)\n\n[Risk Factors](#p2i1a)\n\n \n\n31\n\n \n\n[Item 2.](#p2i2)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#p2i2)\n\n \n\n31\n\n \n\n[Item 3.](#p2i3)\n\n[Defaults Upon Senior Securities](#p2i3)\n\n \n\n31\n\n \n\n[Item 5.](#p2i5)\n\n[Other Information](#p2i5)\n\n \n\n31\n\n \n\n[Item 6.](#p2i6)\n\n[Exhibits](#p2i6)\n\n \n\n32\n\n \n\n \n\n[SIGNATURES](#sig)\n\n \n\n33\n\n \n\n \n\n \n\n2\n\n*Table of Contents*\n\n \n\n**PART I**"}