Press Release
Airship AI Awarded Contract With DOJ Agency, Marking Second Big Government Contract Win Since December IPO
–News Direct–
By Meg Flippin, Benzinga
Airship AI Holdings (NASDAQ: AISP), the Redmond, Washington, artificial intelligence company helping U.S. Homeland Security agencies monitor the nations border, announced that it won a large contract with an agency within the Department of Justice to support emerging public safety and investigative requirements.
The DOJ will use Airship AIs Acropolis Enterprise Video and Data Management Platform which is capable of gleaning actionable information in real-time from several sources including body cams, surveillance cameras, drones and CCTV, among others. Airship AI said it won the sole-source contract with the DOJ agency because it was the only company bidding on it capable of providing the necessary technology.
Airship AIs Acropolis backend enterprise management system will enable the agency to manage devices and sensors across the entire digital ecosystem directly to the cloud or through Airship AIs Outpost AI Edge Appliance. Built on the NVIDIA (NASDAQ: NVDA) Jetson platform, Outpost AI provides advanced analytic processing at the edge, along with highly efficient video and metadata encoding and encryption over various RF and network backhauls back to the cloud. The management system, which can be deployed in specialized law enforcement agencies, has been engineered to meet law enforcement-specific needs including workflow for preserving evidence, advanced auditing capabilities, virtualized server instances and individualized cases for adaptive compartmentalization of sensitive data and video.
Making Inroads
The contract marks the first agency within the DOJ to deploy Acropolis within the Federal Risk and Authorization Management Program or FedRAMP, the U.S. federal governments compliance program designed to create a standardized approach to security assessment, authorization and monitoring of cloud applications and services across all government agencies. Getting an in with the DOJ should position the company for future contracts, Airship AI said.
This award represents an expansion of a pilot program started with the agency in 2023, validating our ability to meet demanding agency operational and security requirements, Paul Allen, President of Airship AI, said in a press release. Equally as exciting is this project represents the second U.S. Government agency to deploy our Acropolis platform in a FedRAMP-certified cloud environment. Airship AIs President noted the company has a strong pipeline for 2024. When news of the award broke in early March, shares of Airship AI soared. Year-to-date the stock is up over 300% as of this writing.
Big Addressable Market
As it stands, surveillance can be extremely complex, with law enforcement agencies and others in surveillance tasked with managing disparate applications, equipment and permissions while at the same time managing various access levels across multiple departments. Airship AIs platform pulls it all together helping law enforcement, intelligence agencies and companies make informed decisions in real time. Its tailored software operating platform opens up customers' access to data from cameras and sensors for decisive and accurate responses using data thats enhanced by AI. Airship AI customers can use their existing hardware saving them time and money getting up and running.
Airship AI is creating a niche in an area where organizations can get bogged down in the exacting and evolving technical difficulty of turning dynamic data into intelligence in real time. Managing, analyzing and gleaming actionable information from an array of sources can be difficult and time-consuming. The company said there is a big demand for its technology and pegs the addressable market at $7 billion for edge AI software and hardware. Airship AI said the market is projected to grow to over $40 billion by 2030.
The companys revenue growth seems to back up the demand estimate. For the full fiscal year 2023, Airship AI earned revenues of $12.3 million on gross profits of $5.8 million. The company entered 2024 with about $140 million in the pipeline comprised largely of U.S. government customers and new growth opportunities within commercial sectors. For all of 2024, Airship AI expects triple-digit revenue growth and positive cash flow.
The Second Major Contract Win For Airship AI
The deal with the DOJ agency marks the second big contract awarded to Airship AI since it went public in late December via a Special Purpose Acquisition Corp. or SPAC deal with BYTE Acquisition Corp. (NASDAQ: BYTS). As part of that win, Airship AI provided solutions based on its AI Outpost product to agencies within the U.S. Department of Homeland Security to support real-time intelligence collection along the U.S. borders. The $10.9 million contract was first inked in September. Airship AIs Outpost solution is the companys edge product, which consists of an edge appliance that provides local high-definition recording with user-defined low-bit rate video stream encoding and on-board edge analytic capabilities providing the Department of Homeland Security with advanced object detection and recognition capabilities. Airships platform is already being used by federal, state and local law agencies as well as the private sector, including FedEx Corp. (NYSE: FDX) and Home Depot Inc. (NYSE: HD).
Airship AI is making inroads into government agencies with its advanced monitoring and surveillance platforms. With two deals under its belt and a robust pipeline for 2024 and beyond, the company is optimistic it will further make its mark, helping federal, state and local governments step up enforcement and monitoring to make the world a safer place for everyone.
Featured photo by Matthew Henry on Unsplash.
Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.
This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.
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View source version on newsdirect.com: https://newsdirect.com/news/airship-ai-awarded-contract-with-doj-agency-marking-second-big-government-contract-win-since-december-ipo-340612161
Benzinga
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About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
ONIX Exchange is transforming the cryptocurrency trading experience with cutting-edge technology and an open and innovative platform model. Since its launch in 2016, ONIX has not only provided users with a seamless and efficient trading ecosystem but also emerged as a key driver of growth in the digital currency industry. By supporting startups and small-to-medium enterprises in the digital asset space, ONIX has become a trusted partner in fostering diversity and health in the market.
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Contact name: Jason Scott
Company name: Onix Exchange
Website https: https://on-ix.tr/
Country: USA
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Press Release
ERB-Hub: Elevating Your Festive Season with Premium Smoking Essentials and Exclusive Digital Weed Art
With A Variety Of Strains And Flavors, ERB-Hub Ensures A Premium Vaping Experience Tailored To Individual Preferences.
New Jersey, US, 29th December 2024, ZEX PR WIRE, As the festive season approaches, ERB-Hub is redefining the art of celebration with an innovative blend of premium smoking essentials and exclusive digital weed art. This one-of-a-kind platform caters to modern consumers who appreciate quality, creativity, and a unique way to express their passion for cannabis culture.
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Taking cannabis culture to new heights, ERB-Hub introduces its line of exclusive digital weed art. From potent vape cartridges to delectable edibles, their offerings cater to a range of preferences and experiences. Discover a world of flavor and relaxation with their high-quality cannabis goods.
The platform’s seamless online shopping experience ensures that customers can explore and acquire their favorite items from the comfort of their homes.
At ERB-Hub, sustainability is a key priority. The company partners with eco-conscious suppliers to ensure that its smoking accessories are both premium in quality and environmentally friendly. This commitment resonates with today’s conscious consumers who value ethical choices in their lifestyle purchases.
ERB-Hub’s collection of disposable vapes combines cutting-edge technology with sleek, user-friendly designs. Each vape is crafted for optimal performance, delivering smooth hits and rich flavors with every use. Perfect for on-the-go enthusiasts, these disposable vapes require no maintenance or refilling, offering a hassle-free experience.
“We’re not just elevating cannabis culture—we’re redefining how it’s experienced. At ERB-Hub, we believe celebration should be as dynamic and multifaceted as the individuals who enjoy it. From our thoughtfully curated products to our exclusive digital art, every detail reflects our dedication to innovation, creativity, and crafting moments that resonate long after the celebration ends,” said a spokesperson for ERB-Hub.
In celebration of the festive season, ERB-Hub is rolling out limited-time deals and launching new digital art collections. These offerings provide customers with the perfect opportunity to elevate their festivities with meaningful and stylish additions.
About ERB-Hub
ERB-Hub is a pioneering platform dedicated to premium smoking essentials and exclusive digital weed art. With a mission to blend tradition and innovation, ERB-Hub aims to redefine cannabis culture while promoting sustainability and creativity.
For additional information and business inquiries, please contact: https://erb-hub.com/, Info@erb-hub.com
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Press Release
TelMDCare Launches Confidential Online Erectile Dysfunction Treatment for Men’s Health
A new platform offering discreet, personalized care for erectile dysfunction—empowering men to access treatment without stigma or inconvenience
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For more information, reach out to the TelMDCare team at the contact details provided below.
About TelMDCare
TelMDCare is a leading provider of online healthcare services, specializing in offering confidential and convenient medical consultations for a wide range of health conditions. Through secure, virtual platforms, TelMDCare connects patients with licensed doctors for personalized care, including diagnosis, treatment plans, and prescriptions. The platform is dedicated to improving access to healthcare for individuals who prefer discretion, convenience, and expert care from the comfort of their homes.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
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