![]() ![]() The era of quantitative tightening is upon us, and most US equities are trading much lower than their 2021 highs. It expects to receive an additional $4 million to $6 million by the end of the year. Through October 21, the company received $4 million in share proceeds. Notably, it continued diluting shareholders through stock issuance. It also increased its gross profit margin to 87%. Its subscription revenue rose by 85% You t over $228k in Q3. In October 2022, AITX published strong financial results. For the second and third quarters, the company recorded a revenue of $141,000 and $373,000, respectively. In the first quarter of 2021, the company recorded a revenue of $560,000. The company also did not have the best quarterly figures when it came to revenue. This was followed by another net loss of $4.8 million in the second quarter and a net loss of $7 million in the third quarter. Looking at the 2021 quarterly numbers, the company recorded a net loss of $35.9 million in the first quarter. This loss was an improvement from 2019 numbers, where the company recorded a net loss of $6.21 million. ![]() In the financial year 2020, the company recorded a net income of negative $5.9 million. AITX Recent Financial ReportsĪITX has not had the best financial growth for the past few years. In his latest town hall meeting, AITX chief revealed that the company was already saving over $100,000 a month from a variety of methods that included the elimination of non-core projects, enhancing operational efficiency, and making teams more efficient. The CEO of AITX and RAD, Steve Reinharz, has recently announced cost-saving measures which could end up saving $200,000 per month. The latest tracking solution reduces false alarms and provides the functionality to detect stolen cars. Recently, RAD has rolled out a new AI-powered tracking feature that can be used to track vehicles as well as humans. The client hospital has more than 600 locations which suggest that this could be the first of many installations. RAD has deployed ROSA-P units at an acute care facility with 100 beds. AITX Subsidiary Robotics Assistance Devices (RAD)Īccording to the most recent AITX news, Robotics Assistance Devices (RAD) has achieved a new milestone. This would also make the company’s cash flow positive. The company has also projected recurring revenue of $800,000 by February 2024. During this period, the gross margin increased from 50% to 57%. In other news, RAD has received multiple ROSA orders from major US city alliance.Īs per the recently released Q3 financial results, the quarter-over-quarter revenue of the company has increased by 50%. More recently, the company has announced that its CEO, Steve Reinharz, will be appearing on Buffalo Fireside Chat with the host Eric Kemnitzer for a live discussion. ![]() A prime-time TV series will feature RAD robots interacting with the on-screen actors. The company has been contracted to supply robots for high-profile television network series. AITX newsĪccording to the latest AITX news, its subsidiary Robotic Assistance Devices (RAD) has caught the attention of Hollywood. ![]() Depending on your jurisdiction and portfolio size, you can open an account with any of these online brokers. The most popular platforms in this regard are WeBull, Fidelity, Robinhood, and TD Ameritrade. Several online brokers also offer the services to invest in AITX. Nevertheless, the stock can still be traded in the OTC (Over-The-Counter) markets. The reason is that it is not a publicly listed company. Unlike other big AI names, AITX stock is not listed on any major exchange. One of the main products that the company is involved in is the security robots such as ROAMEO. The AITX company boasts several subsidiaries, including Robotic Assistance Devices (RAD), Robotic Assistance Devices Group, Robotic Assistance Devices Mobile, On the Move Experience, and OMV Transports. ![]()
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