Airship AI secures a $2.35 million contract with the DOJ

Airship AI Holdings Inc (NASDAQ: AISP) is up 5.0% this morning after announcing a “multi-million” dollar contract with the Department of Justice. 

Details of the contract Airship AI announced today

The $2.35 million award within the DOJ is for its “Outpost AI appliance”, as per the press release on Thursday. 

It is the second contract that $AISP has secured from the Justice Department. The previous one announced in March was for its Acropolis Enterprise Sensor Management platform. 

The award, as per Paul Allen - president of Airship AI, signals the “strength of our robust popeline” as well as the company’s ability to monetise its pipeline opportunities. 

Despite winning two back-to-back contracts with the DOJ, Airship AI stock is down nearly 45% versus its year-to-date high at writing. 

$AISP expects new opportunities to develop in 2024

On Thursday, Paul Allen also expressed confidence that new opportunities will likely develop for Airship AI this year following approval of the 2024 federal budget. He added:

The news arrives only weeks after $AISP reported $12.3 million in revenue for the full year and forecast positive cash flow for its fiscal 2024. 

Note that Airship AI shares debuted on Nasdaq only last year (late December) following a merger with BYTE Acquisition Corp.