Airship AI effects,Inc.( “ Airship AI ”), a robust AI- driven videotape, detector and data operation surveillance platform that provides complex automated monitoring, prophetic event analysis and intelligence to large institutions operating in dynamic and charge-critical surroundings with fleetly adding volumes of data and data sources, and BYTE AcquisitionCorp.( NASDAQ BYTS), a special purpose accession company( “ BYTE ”), have completed the preliminarily blazoned business combination( the “ Business Combination ”). BYTE’s shareholders approved the Business Combination at an extraordinary general meeting held on December 19, 2023.
In connection with the Business Combination ending, the combined company has been renamed “ Airship AI effects,Inc. ”( the “ Company ”). Beginning at the open of trading on December 22, 2023, the Company’s common stock and clearances will trade on Nasdaq under the ticker symbols “ AISP ” and “ AISPW, ” independently.
This sale valued Airship AI atpre-money equity value of roughly$ 225 million. As a public company, the Company will have enhanced visibility, dealing openings and fiscal inflexibility to perform its business plan and broaden its client base.
Airship AI Highlights
Large and fleetly Growing Size of Addressable Market
7 billion edge AI software and tackle nontransferable request moment, projected to grow to over$ 40 billion in 20301.
This growth is anticipated to be driven by strong demand for AI results in public safety, artificial, and logistics settings.
discerned End- to- End result
Airship AI leverages AI at the edge to help ameliorate public safety and functional effectiveness for public sector and marketable guests by furnishing prophetic analysis of events before they do and meaningful intelligence to decision makers.
results work with guests ’ being tackle and subsidize on fleetly growing use of AI to produce effectiveness, increase speed, reduce costs, and ameliorate decision- timber.
Blue- Chip client Base
Being guests include civil government agencies across the Department of Homeland Security, Department of Justice, Department of Defense, and Intelligence Community, along with state and original law enforcement agencies and Fortune 500 companies FedEx and Home Depot.
In December 2023 began delivery of multiple establishment fixed price contracts worth$10.9 million, awarded in September 2023 by an agency within the Department of Homeland Security( DHS), for advanced intertwined results supporting real- time intelligence collection operations along the United States ’ borders, using the Company’s edge IoT appliance, Outpost AI.
Strong Growth with Software Margin
2022A$14.5 million profit,57.9 gross periphery, positive EBITDA.
NTM( Next Twelve Months, which denotes July 1, 2023- June 30, 2024 cast period)$ 39 million profit, 65 gross periphery,$ 9 million EBITDA.
occasion for periphery expansion with lately launched Edge products.
Visible and Robust Pipeline
Strong channel generally with theU.S. government in addition to new growth openings within the marketable sector
operation Commentary
“ We believe that moment’s corner, combined with our visible and robust$ 163 million channel, will help accelerate the delivery of our AI- driven edge videotape, detector and data operation platform, ” said Paul Allen, President of Airship AI. “ Our Outpost AI edge device, Acropolis operating system, and Command Nexus viewing customer will enable us to take a significant share of the roughly$ 7 billion edge AI software and tackle nontransferable request moment, which is projected to grow to over$ 40 billion in 2030. These discerned end- to- end results serve a blue- chip client base that includes civil government agencies across the Department of Homeland Security, Department of Justice, Department of Defense, and Intelligence Community, along with state and original law enforcement agencies and Fortune 500 companies FedEx and Home Depot.
“ Most lately we began delivery of multiple establishment fixed price contracts worth$10.9 million, awarded by an agency within the Department of Homeland Security( DHS), for advanced intertwined results supporting real- time intelligence collection operations along the United States ’ borders, using Outpost AI. These awards affirm our strategic vision of furnishing acclimatized results designed to meet exacting and fleetly evolving specialized conditions with results that work with guests ’ being tackle and subsidize on fleetly growing use of AI to produce effectiveness, increase speed, reduce costs, and ameliorate decision- timber.
“ With a hard fought base with our blue- chip client base, we’re at an curve point that now positions us to execute amulti-prong growth strategy that we anticipate will deliver a double- number profit growth rate with occasion for periphery expansion and positive EBITDA. In this coming phase of our development, we anticipate to see growth from new openings within the marketable sector. The board of Airship AI would like to thank the platoon at BYTE for the successful completion of the Business Combination, ” concluded Allen.
Sam Gloor, BYTE Chief Executive Officer and Chief Financial Officer, added, “ We compliment Airship AI on moment’s accomplishment and look forward to their continued growth and elaboration toward their thing of perfecting public safety and functional effectiveness for public sector and marketable guests. As a public company we believe Airship AI is well deposited to execute on their strategy and we’re agitated to see them take this important coming step. We thank the Airship AI platoon for their hard work and cooperation in completing the Business Combination. ”
