ADDED
As of February 13, 2026, there were a total of 34,372,162 shares of the registrant s common stock issued and outstanding.
Since our inception and until the merger in December 2023, we have operated as a 100% employee-owned bootstrapped company with no outside investment, operating in a fiscally conservative model.
Our software is also designed to replace existing capabilities as well as augment and/or enhance existing capabilities, from sensors to IT infrastructure to analytics.
government has set aside $3.2 billion in discretionary resources for state and local grants and $30 billion in mandatory resources to support law enforcement, crime prevention, and violence intervention, based on The President s Budget for Fiscal Year 2023.
We believe our existing product market fit in the law enforcement vertical supported by our rapidly growing edge AI hardware and software offerings positions us well in this market.
Growth Strategy We also began to see movement during the fourth quarter of 2025 and into the first quarter of 2026 on several large projects in the federal and commercial marketplace, including several notable awards: $1.9 million award from Department of Homeland Security (DHS) supporting large National Special Security Events (NSSE) scheduled for 2026.
$2.8 million award from a large commercial customer supporting a technical refresh of deployed hardware and software.
Our total validated pipeline as of December 31, 2025 was $173.4 million, consisting of single and multi-year opportunities for AI-driven edge, video, and sensor and data management platforms across our customer verticals.
Our pipeline includes opportunities at varying stages of progression with expected award timeframes over the next 18-24 months.
We enter 2026 optimistic about growth opportunities across both the federal and commercial market segments.
REMOVED
As of February 28, 2025, there were a total of 31,749,319 shares of the registrant s common stock issued and outstanding.
Our typical customer engagement is a multi-year contractual agreement, an agreement which includes our core offerings as well as professional services, technical support, and software maintenance, which we expect will result in predictable, long-term recurring revenue.
Our Solution Airship AI s platform today is used across multiple verticals and markets, including commercial and government, and small and enterprise.
government has set aside $3.2 billion in discretionary resources for state and local grants and $30 billion in mandatory resources to support law enforcement, crime prevention, and violence intervention, based on The President s Budget for Fiscal Year 2023 We believe our existing product market fit in the law enforcement vertical supported by our rapidly growing edge AI hardware and software offerings positions us well in this market.
Growth Strategy For 2025, we start with a pipeline of $137 million, consisting largely of U.S.
The opportunities that make up this pipeline include opportunities for expansion within existing agencies as well as new opportunities within the agency and/or new agencies themselves.
government in areas where we are highly active, including key efforts in our existing pipeline or efforts where we are piloting technology to assist with the larger effort.
Within the 2025 Homeland Security, Justice, and Defense Department Appropriations Bills, some highly relevant areas called out for investment include: $300 million for new border security technology, $51 million for autonomous towers, $50 million for innovative technology, $90 million in funds around Operation Stonegarden which enhances cooperation and coordination amongst federal, state, local and tribal law enforcement groups to secure U.S.
While this pipeline represents the path for substantial growth over the next 12-18 months, we are executing a number of strategies which we believe will bring our value proposition to a broader audience in the United States and abroad.
Embrace Existing Direct Routes to Market While Building a Channel Program: Our focus in the near term is to continue building and expanding relationships with existing customers who we enjoy direct relationships with, while we build partnerships with global integrators who bring capabilities outside our core competencies along with access and placement to customers and verticals which we do not currently enjoy.