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Artificial Intelligence Technology Solutions Inc. (AITX) is a pioneer in delivering cutting-edge artificial intelligence and robotic solutions aimed at enhancing operational efficiency, security, and monitoring capabilities across various industries. Founded in 2016 and headquartered in Reno, Nevada, AITX was formerly known as On The Move Systems Corp before rebranding in August 2018 to better reflect its mission and expertise.
AITX, through its wholly-owned subsidiary Robotic Assistance Devices Inc. (RAD), offers a suite of AI-driven security and productivity solutions. These innovative solutions include both stationary and mobile robotic devices that reduce dependence on human personnel while improving operational efficiency, providing significant cost savings of 35%-80% compared to traditional security measures. RAD's product lineup features the ROSA, RIO, AVA, and RADDOG units, which incorporate advanced AI analytics for tasks such as firearm detection, human and vehicle detection, and license plate recognition, all integrated into a comprehensive security and communication platform.
FY2024 marked a year of substantial growth for AITX, highlighted by a remarkable 505% increase in recurring monthly revenue (RMR), rising from $56,802 to $283,624. This growth is driven by the deployment of 104 units in Q4 FY2024, the largest quarterly deployment to date. The company's gross profit also surged by 68% to $1,096,457, bolstered by enhanced operational efficiencies and robust demand for its innovative solutions.
A significant milestone includes the introduction of RIO in FY2024, which contributed $143,686 in RMR in its final operational month. The company's R&D expenses were reduced from $3.6 million in FY2023 to $2.8 million in FY2024, even as it launched new generations of its flagship products, resulting in increased production and supply line efficiencies.
AITX's strategic initiatives include a partnership with Nightingale Security, integrating RAD's ground-based robots with Nightingale's drones to form a robust, comprehensive security ecosystem. This collaboration underscores AITX's commitment to leveraging emerging technologies for superior security solutions.
Looking ahead, AITX is positioned for continued success with plans to achieve cash flow positivity in FY2025. The company's focus on developing AI-driven solutions and forming strategic alliances ensures its leadership in the rapidly evolving security technology market.
For more information, visit www.aitx.ai, www.radsecurity.com, or follow CEO Steve Reinharz on Twitter at @SteveReinharz.
AITX's subsidiary RAD-R has announced significant upgrades to its RADCam™ AI-driven home security camera system. The Phase 3 software updates, to be rolled out over the coming months, include integration with Alexa and Google Home for voice control, SARA™ AI agent call logging, smartwatch app compatibility, Google SSO login, and customizable verbal responses.
The upgrades will be available to all existing RADCam units without requiring additional hardware. Key features include hands-free voice control for updates and settings, event logging with AI agent call summaries, instant alerts via smartwatch apps, simplified Google account login, and user-customizable phrases and alert durations.
According to Steve Danelon, RAD-R President, these enhancements represent a significant advancement in home security technology, making it more interactive and user-focused. Steve Reinharz, CEO/CTO of AITX and RAD-R, emphasized the company's commitment to innovation in residential security solutions.
Artificial Intelligence Technology Solutions (OTCPK:AITX) has secured its first order for SARA™ (Speaking Autonomous Responsive Agent), just 13 days after launch. The order comes from a construction site operator seeking to enhance their security operations.
SARA functions as an AI-driven communications hub that integrates with RAD's ecosystem, providing autonomous responses for construction site security. The solution aims to reduce security costs by 35%-80% compared to traditional manned guarding, while offering features like real-time communication and AI-powered threat detection.
The deployment addresses specific challenges such as equipment theft and unauthorized access, providing round-the-clock monitoring. RAD reports having a prospective sales pipeline including over 35 Fortune 500 companies, with SARA representing their latest innovation in the $50 billion security and guarding services industry.
AITX presented significant updates during its 2025 investor presentation, highlighting strong financial growth with Q3 revenue approximately 3x higher year-over-year and 30% quarter-over-quarter growth. The company expects to finish FY2025 with over $6 million in revenue, representing 250% growth over the previous year.
For FY2026, AITX projects revenue between $12-18 million. The company's Gen 4 platform transition to NVIDIA/Ubuntu has improved production efficiency, reducing device build times and weight by 33%. RAD-I achieved nearly 6 million hours of autonomous device operation in 2024, expanded its dealer network to over 70 partners, and plans significant sales team expansion.
Strategic goals include achieving operational profitability, reducing debt, and preparing for a potential NASDAQ uplisting. The company's SaaS-centric approach focuses on recurring monthly revenue through long-term customer relationships.
Artificial Intelligence Technology Solutions (AITX) reported strong financial results for Q3 FY2024, ending November 30, 2024. The company achieved revenues of $4,277,951 for the nine months ended November 30, 2024, marking a 213% increase from $1,386,363 in the same period of 2023. Total rental revenue for Q3 reached $1,750,968, showing a 30% increase from the previous quarter's $1,344,183.
AITX successfully completed its transition to the fourth generation (Gen 4) platform, featuring enhanced analytics, improved AI functionality, reduced hardware weight, and faster production times. The company expects to achieve operational positive cash flow in calendar year 2025 and has prepared three revenue projection models for FY2026, starting March 1, 2025.
Artificial Intelligence Technology Solutions (AITX) has announced the appointment of Steve Danelon as President of its subsidiary, Robotic Assistance Devices Residential (RAD-R). Danelon brings 30 years of security industry experience, including 22 years at Allied Universal leading Canadian operations, and founded Fortress Solutions, a residential security company.
The appointment aims to strengthen RAD-R's position in delivering AI-driven residential security solutions, particularly the recently launched RADCam™. Danelon's compensation package is performance-based, aligning with company goals. The RADCam product is currently available for purchase through Amazon, Walmart.com, and www.radcam.ai.
AITX announces the availability of RADCam, their conversational security camera, on Amazon and Walmart.com, with TikTok store launch planned for next week. The company is initially shipping 1,000 RADCams to Amazon warehouses nationwide, with Amazon Prime features including fulfillment and returns to be activated next week.
RADCam leverages AITX's proprietary AIR™ (Autonomous Intelligent Response) technology to eliminate nuisance notifications, providing only relevant alerts. The expansion to major online marketplaces aligns with consumer trends, noting Amazon's 87% consumer preference rate for purchases and Walmart.com's projected $83.18 billion in U.S. retail e-commerce sales for 2024. TikTok Shop's recent success, achieving $1 billion in monthly U.S. sales, further supports this distribution strategy.
AITX reported significant achievements in 2024, marked by exponential increases in total revenue and recurring monthly revenue for the third consecutive year. Key milestones include transitioning to NVIDIA-based 4th generation technology platform, growing team size to over 100 members, and introducing RADCam, a new AI-driven residential security solution.
The company successfully expanded its enterprise sales team and strengthened its market position in AI-driven security solutions. The transition to NVIDIA hardware has improved reliability, processing speed, and scalability while reducing hardware components. RADCam units are scheduled to ship in the coming weeks, with plans to expand the residential product lineup. AITX will host an Investor Presentation on January 15, 2025, to discuss future strategies.
AITX has announced an upcoming Investor Presentation and RAD Technology Review scheduled for January 15, 2025, at 4:00 pm ET. The event will be streamed live on YouTube and social media platforms, featuring CEO/CTO Steve Reinharz and key executives who will present company progress, FY 2026 projections, and the complete RAD product roadmap.
The company, through its subsidiary RAD-I, operates in the $50 billion security and guarding services industry, offering AI-driven Solutions-as-a-Service that provide 35%-80% cost savings compared to traditional security models. RAD-I has a sales pipeline including over 35 Fortune 500 companies and develops all technologies in-house.
RAD-I, a subsidiary of Artificial Intelligence Technology Solutions (OTCPK:AITX), has secured additional orders from a top 25 nationwide healthcare provider, expanding their initial deployment of RIO™ 360 solar-powered security towers. The client is expected to order over 40 RIO 360 units across multiple locations by the fiscal year end (February 28, 2025). Operating in over 300 North American locations, the healthcare provider has shown interest in deploying standalone ROSA™ devices and potentially SARA™ systems.
The RIO 360 configuration features dual ROSA units with AI-driven security analytics, including human, firearm, and vehicle detection, license plate recognition, and responsive digital signage. RAD-I's solutions aim to provide business cost savings of 35%-80% compared to traditional security services.
Artificial Intelligence Technology Solutions (OTCPK:AITX) has announced major product launches for Q4 FY 2025 through its subsidiaries RAD-I and RAD-R. Key launches include: RADCam, an AI-powered security camera starting production in December 2024; SARA (Speaking Autonomous Response Agent) platform deployments in January 2025; AVA Generation 4 with Homeowners Association Portal launching January 2025; ROAMEO Generation 4 demonstrations in February 2025; and RADDOG LE2 preview in March 2025.
The company will host its Annual Investor Presentation on January 15, 2025, reviewing FY 2025 performance and previewing FY 2026 plans. AITX aims to redefine the $50 billion security and guarding services industry with AI-driven solutions offering 35%-80% cost savings compared to traditional security models.
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