Airship Ai Holdings, Inc · NASDAQ:AISP
Airship Ai — SPAC Merger (June 2023)
39 slides from Airship Ai's SPAC merger presentation, Jun 27, 2023
Slide 1: Real Time. Actionable. Intelligence.
1 Real Time. Actionable. Intelligence. J une 2023 Airship AI Holdings, Inc. – Investor Presentation www.airship.ai
Slide 2: Disclaimers: Basis of Presentation
Disclaimers Basis of Presentation This Presentation (this “Presentation”) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to an investment in connection with a potential business combination between Airship AI
Slide 3: Disclaimers: Forward-Looking Statements
Disclaimers Forward - Looking Statements The disclosure herein includes certain statements that are not historical facts but are forward - looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995 . Forward - looking statem
Slide 4: Disclaimers
Disclaimers For example, other companies may calculate non - GAAP measures differently, or may use other measures to calculate their financial performance, and therefore Airship AI’s non - GAAP measures may not be directly comparable to similarly titled measures of other companies . See the Appendix
Slide 5: Today's Presenters
Victor Huang Chairman & CEO A i r s h i p AI Ho l d i ng s , In c . P au l A ll en President A i r s h i p AI Ho l d i ng s , In c . Today’s Presenters Sam Gloor CEO & CFO BYTE Acquisition Corp. 5
Slide 6: Transaction Overview
6 њ Airship AI Holdings, Inc. (“Airship AI”) and BYTE Acquisition Corp. (NASDAQ:BYTS) have executed a merger agreement to enter into a business combination (the “Transaction”) њ Upon the closing of the Transaction, Airship AI is expected to be listed on Nasdaq under the new ticker AISP Transaction O
Slide 7: Our Mission
Our Mission 7 Leverage Artificial Intelligence (“AI”) at the edge to help improve public safety and operational efficiency for public sector and commercial customers by providing predictive analysis of events before they occur and provide meaningful intelligence to decision makers. The Edge – a plac
Slide 8: Data Is Changing. Structured Edge Sensor Data Is The Future.
Data Is Changing. Structured Edge Sensor Data Is The Future. Airship AI’s open software operating platform enables decision makers to assess data from cameras and sensors deployed across the digital data domain and act decisively in real - time using data enhanced by artificial intelligence. K - 12
Slide 9: Screenshot of Airship AI software processing video
9 Screenshot of Airship AI software processing pre - recorded stock video of Tokyo crosswalk
Slide 10: Investment Highlights
10 Investment Highlights C o m b i ne d $7 B Edg e A I Software and Hardware addressable market today, projected to reach >$40 B in 2030 E ( 2 )( 3 ) Driven by strong de m an d f o r A I s o l u t i ons in public safety, industrial, and logistics settings Solutions capitalize on rapidly growing use
Slide 11: Market Overview
11 01 Market O ve r v i ew
Slide 12: Rising Crime is a Major Problem
12 $100B 600+ Mass shootings in 2022 with at least 4 people being shot 2 ~ $121B Estimated economic cost of workplace violence 1 Estimated organized retail crime cost for retailers in 2021 3 Rising Crime is a Major Problem $557B Estimated fiscal cost of gun violence to the economy 4 (1) https:// www
Slide 13: Cameras Alone Are Not The Solution
13 Cameras Alone Are Not The Solution. Studies show cameras alone don’t necessarily correlate to safer cities or reductions in crime Cameras/ Per 1000 People Cameras 3.8/1000 31,490 New York City 11.9/1000 32,000 Chicago 5.6/1000 22,327 Los Angeles 17.7/1000 28,064 Philadelphia 4.7/1000 6,628 San Di
Slide 14: We Address Large and Rapidly Growing Markets
14 $6.9BN $38.9BN 202 0 2030 E $0.9BN $3.5BN 18.8% CAGR 24.8% CAGR We Address Large and Rapidly Growing Markets Edge AI Software and Hardware SAM Edge AI Software Market (1) Edge AI Hardware Market (2) 2022 2029E (1) https://reports.valuates.com/market - reports/QYRE - Auto - 4139/global - edge - ai
Slide 15: Public Safety and Security Market
15 Public Safety and Security Market Large Government AI Budgets Provide Tailwinds for Airship AI $1.12T, 2032 (2) 10.0% CAGR $433B, 2022 (2) њ US government budget for FY2023 includes $3.2 billion in discretionary resources for State and local grants and $30 billion in mandatory re - sources to sup
Slide 16: Company Overview
o00e@0 Company Overview
Slide 17: Airship AI At A Glance
Airship AI At A Glance NTM Revenue | NTM EBITDA NTM Gross Margin 65% $162 . 9M $5 . 5 M+ Historical Customers Key Highlights $39.0M | $9.0M Department of Ho m e l an d S e c ur ity Depar t m ent of Justice U S S pe c i al Opera ti ons Command U S I n t e lli gen c e Community City of Miami Police De
Slide 18: Airship AI Offers Three Families of Solutions
Airship AI Offers Three Families of Solutions A i r s h i p AI S o l ut i ons Third - Party Integrations Airship AI Outpost њ A ir s h ip A I O u t po s t ( H a r d w a re / Software) њ A ir s h ip A I O u t po s t M ob ile (Application) Data Generation Integration њ Third - Party Edge Cameras and S
Slide 19: Airship AI Outpost
Small. Hardened. Encrypted. AI Driven. The Edge Solved. Airship AI Outpost is a computer vision - enabled hardware and software platform that detects and recognizes patterns at the edge from a variety of sensors and detectors creating real - time actionable intelligence. T e c hn ic a l Att r i bute
Slide 20: Airship AI Acropolis
Airship AI Acropolis is a purpose - built operating system to work with third - party and legacy sensors, operating on - premise and/or in the cloud, leveraging Airship AI and third - party analytic capabilities to train, model, and analyze data in real - time. T e c hn ic a l Att r i butes њ Single
Slide 21: Airship AI Command
њ Manages and displays multiple types of edge - based ingest sensors and their metadata њ Includes thick client (Windows), thin client (web browser), and m ob il e (i OS and And r o i d) њ Allows users to access data from Acropolis anywhere in the world Data Generation Edge Products Data Collection
Slide 22: Why Customers Choose Airship AI
њ Complete end - to - end solution њ Early adopter of the NVIDIA chip for an IoT device which gives Airship AI and its customers a “bleeding edge solution” Diffe r ent ia ted End - to - End Technology Solution њ Authority To Operate (ATO) on Trusted US Government Managed Networks њ ATO in a FedRamp
Slide 23: Federal Law Enforcement Agency Customer Highlights
Federal Law Enforcement Agency Customer Highlights Customer Mission To investigate, disrupt, and dismantle terrorist and criminal organizations in support of the safety of the United States and its territories Solution Objective Scalable enterprise - level cost - effective solution meeting agency go
Slide 24: Fortune Customer Highlights
Fortune 500 Customer Highlights Customer Mission Provide high value - added logistics, transportation, and related business services through the organization Airship AI Solution Built open enterprise sensor management system to support existing and emerging sensor technologies enabling security and
Slide 25: End-to-End Solution in a Fragmented Marketplace
Airship AI Offers an End - to - End Solution in a Fragmented Marketplace Within the current edge data and sensor management marketplace, there are multiple vendors and point solutions. Major Edge Data Sensor and Management Components: њ Physical Security Information Management Systems (PSIM) њ Video
Slide 26: Airship AI Leadership Team
Airship AI Leadership Team Victor Huang Chairman & CEO Yanda Ma CTO, Engineering Mark Scott CFO Peeyush Ranjan Board Member Derek Xu Founder & COO Chad Anderson VP, Operations Paul Allen President Whitney Dilling V P , C u st o m e r Experience 26
Slide 27: Financial Overview
o0e@00 Financial Overview
Slide 28: Financial Summary and Forecast
28 $7.0 $8.4 $25.6 2 0 21A 2 0 22E NT M Financial Summary and Forecast 54% 58% $13.0 $14.5 $39.1 2 0 2 1A 2 0 2 2E NT M Gross Profit and Gross Margin % Revenue $7.8 $10.3 $7.4 74% 67% 57% $0.1 $9.0 ($4.2) 2 0 21A 2 0 22E NT M NM 1% Adj. EBITDA and Adj. EBITDA Margin NTM Gross Profit and Gross Margin
Slide 29: Airship AI Pipeline
29 Airship AI Pipeline 60% Y oY P i pe li ne Increase $37.3M $24.0M $101.7M Quoted (1) RFI (2) Market Research (3) $14.1M $11.0M $137.8M E n t e r p r i se State & Local Federal Pipeline By Market Segment $162.9M V a li dat e d T otal Opportunities (1) Quoted - Responded To Customer With Pricing and
Slide 30: Transaction Overview
o@000 Transaction Overview
Slide 31: Transaction Overview
31 PRO FORMA OWNERSHIP (SHARE VALUES IN M) PRO FORMA VALUATION (M, EXCEPT PER SHARE VALUES) SOURCES & USES ($M) Transaction Overview Existing Airship Shareholders 69.9% BYTE Sponsor Shares 21.5% B Y T E Public Sh are hold er s 5.3% BYTE Sponsor Non - Redemption Agreements 2.2% T ra n sact ion F ees
Slide 32: Peers Valuation Benchmarking
32 Mean: 11.1x Peers Valuation Benchmarking Sources: S&P Capital IQ and Bloomberg as of 06/23/2023. See slide 31 for details and assumptions regarding Airship’s pro forma enterprise value. * Denotes Fiscal Year End * * Valuation represents a ~30% discount to peer group EV / NTM Revenue * * 7.8x 15.8
Slide 33: Risk Factors
Risk Factors All references to the “Company,” “we,” “us” or “our” refer to Airship AI . The risks presented below are some of the general risks related to the business of the Company and such list is not exhaustive . The list below has been prepared solely for purposes of inclusion in this Presentat
Slide 34: Risks Related to BYTE and the business combination
Risks Related to BYTE and the business combination • BYTE and Airship may not be able to obtain the required shareholder approvals to consummate the business combination. • The consummation of the business combination is subject to unanticipated conditions that could adversely affect the combined co
Slide 35: Risks Related to the Combined Company's Securities
Risk Factors Risks Related to the Combined Company’s Securities Following Consummation of the business combination • The requirements of being a public company may strain our resources, divert management’s attention, and affect our ability to attract and retain executive management and qualified boa
Slide 36: Appendix
@0o000o Appendix
Slide 37: Facts & Figures
Facts & Figures Global 5G Services Market CAGR from 2023E to 2030E 2 59.4% Data Generated by Connected Devices Annually in 2025E 1 ~80ZB Connected Devices in 2025E 1 55.7BN Global Edge Computing Capex Spend by 2028 5 Global Edge AI Hardware Market in 2030E 4 Global Edge AI Software Market in 2029E 3
Slide 38: Best of Breed Partners Supporting Blue Chip Customers
Best of Breed Partners Supporting Blue Chip Customers Airship AI partners with industry leading edge data and analytic companies to build on and integrate with as we have expanded our full - spectrum offerings to support customer requirements across a wide variety of emerging operational challenges
Slide 39: EBITDA Reconciliation
NTM 2022A 2021A Calendar Year $8.3 ($0.5) ($5.1) Net Income 0.0 0.0 0.0 + I n t ere s t E x pen s e .04 .01 .05 + Depreciation & Amortization $8.4 ($0.4) ($5.0) EBITDA 0.6 0.5 0.8 Stock - Based Compensation $9.0 $0.1 $(4.2) Adj. EBITDA 39 EBITDA Reconciliation ($millions)