Airship AI Holdings Inc. reported third quarter 2025 net revenues of $1.2 million and a gross profit of $0.6 million, resulting in a gross margin of 51%. The company recorded an operating loss of $2.9 million, mainly due to increased investments in sales and marketing. New federal acquisition processes and a government shutdown slowed contracting activity, particularly with the Department of Homeland Security. Airship AI closed approximately $11 million in new opportunities by the end of the quarter, most scheduled to ship in the fourth quarter of 2025 and early 2026. The company also raised $9.7 million from the exercise of warrants after the quarter ended, enhancing its financial flexibility. Business developments included the release of new Outpost AI product offerings, expansion of custom trained AI models, continued innovation of the Acropolis software platform, targeted expansion in commercial and retail markets, and improvements in supply chain and production efficiencies.