AITX’s RAD Anticipates $1 Million SaaS ARR Increase with New Fortune 50 Client Deployment
Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (OTCPK:AITX), is set to expand a major nationwide deployment for a Fortune 50 client. The company will build an additional 57 RIO™ units, expected to generate over $90,000 in monthly recurring revenue plus over $17,000 per month in remote monitoring revenue.
This expansion order is anticipated to increase RAD's Software as a Service (SaaS) Annual Recurring Revenue (ARR) by approximately $1 million. The deployment showcases RAD's ability to provide scalable security solutions for large national corporations. CEO Steve Reinharz believes this strategic deployment will help push RAD towards becoming cash flow positive this fiscal year.
I Dispositivi di Assistenza Robotica (RAD), una sussidiaria delle Soluzioni Tecnologiche di Intelligenza Artificiale (OTCPK:AITX), si preparano ad espandere un'importante distribuzione a livello nazionale per un cliente Fortune 50. L'azienda costruirà ulteriori 57 unità RIO™, che si prevede genereranno oltre $90.000 di entrate ricorrenti mensili oltre a più di $17.000 al mese in entrate da monitoraggio remoto.
Questo ordine di espansione dovrebbe far crescere le Entrate Ricorrenti Annuali (ARR) da Software come Servizio (SaaS) di RAD di circa $1 milione. La distribuzione dimostra la capacità di RAD di fornire soluzioni di sicurezza scalabili per grandi aziende nazionali. Il CEO Steve Reinharz è convinto che questa distribuzione strategica aiuterà RAD a diventare redditizia questo anno fiscale.
Los Dispositivos de Asistencia Robótica (RAD), una subsidiaria de las Soluciones Tecnológicas de Inteligencia Artificial (OTCPK:AITX), están a punto de expandir un importante despliegue nacional para un cliente Fortune 50. La empresa construirá 57 unidades RIO™ adicionales, que se espera generen más de $90,000 en ingresos recurrentes mensuales y más de $17,000 al mes en ingresos por monitoreo remoto.
Se anticipa que este pedido de expansión aumentará las Ingresos Recurrentes Anuales (ARR) de Software como Servicio (SaaS) de RAD en aproximadamente $1 millón. El despliegue muestra la capacidad de RAD para ofrecer soluciones de seguridad escalables a grandes corporaciones nacionales. El CEO Steve Reinharz cree que este despliegue estratégico ayudará a RAD a convertirse en flujo de caja positivo este año fiscal.
로봇 보조 장치(RAD), 인공지능 기술 솔루션(OTCPK:AITX)의 자회사, 는 포춘 50 고객을 위한 주요 전국 배포를 확장할 예정입니다. 이 회사는 추가로 57개의 RIO™ 유닛을 제작할 예정이며, 이는 매달 $90,000 이상의 반복 수익과 원격 모니터링 수익으로 매달 $17,000 이상을 생성할 것으로 예상됩니다.
이번 확장 주문은 RAD의 서비스로서의 소프트웨어(SaaS) 연간 반복 수익(ARR)을 약 $1백만 증가시킬 것으로 예상됩니다. 이 배포는 대규모 국가 기업에 대한 확장 가능한 보안 솔루션을 제공하는 RAD의 능력을 보여줍니다. CEO 스티브 레인하르즈는 이 전략적 배포가 RAD가 이번 회계 연도에 현금 흐름이 긍정적이 되는 데 도움을 줄 것이라고 믿고 있습니다.
Les dispositifs d'assistance robotique (RAD), une filiale des solutions technologiques d'intelligence artificielle (OTCPK:AITX), s'apprêtent à élargir un déploiement national majeur pour un client Fortune 50. L'entreprise construira 57 unités RIO™ supplémentaires, qui devraient générer plus de 90 000 $ de revenus récurrents mensuels ainsi que plus de 17 000 $ par mois en revenus de surveillance à distance.
Cette commande d'expansion devrait augmenter les revenus récurrents annuels (ARR) de RAD issus des logiciels en tant que service (SaaS) d'environ 1 million de dollars. Ce déploiement met en avant la capacité de RAD à fournir des solutions de sécurité évolutives pour les grandes entreprises nationales. Le PDG Steve Reinharz croit que ce déploiement stratégique aidera RAD à devenir rentable cette année fiscale.
Robotic Assistance Devices (RAD), eine Tochtergesellschaft von Artificial Intelligence Technology Solutions (OTCPK:AITX), plant eine umfangreiche nationale Bereitstellung für einen Fortune 50-Kunden auszubauen. Das Unternehmen wird zusätzlich 57 RIO™-Einheiten bauen, die voraussichtlich über $90.000 an monatlich wiederkehrenden Einnahmen sowie über $17.000 pro Monat an Fernüberwachungs-Einnahmen generieren werden.
Dieser Erweiterungsauftrag wird voraussichtlich die jährlichen wiederkehrenden Einnahmen (ARR) von RAD für Software as a Service (SaaS) um etwa $1 Million steigern. Die Bereitstellung zeigt die Fähigkeit von RAD, skalierbare Sicherheitslösungen für große nationale Unternehmen anzubieten. CEO Steve Reinharz ist überzeugt, dass diese strategische Bereitstellung RAD dabei helfen wird, in diesem Geschäftsjahr positiv cash-flow zu sein.
- Expansion order for 57 RIO units from a Fortune 50 client
- Expected to generate over $90,000 in monthly recurring revenue
- Additional $17,000 per month in remote monitoring revenue
- Potential $1 million increase in SaaS Annual Recurring Revenue
- May help RAD become cash flow positive this fiscal year
- None.
Detroit, Michigan, July 23, 2024 (GLOBE NEWSWIRE) -- Robotic Assistance Devices, Inc. (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX), is thrilled to announce the imminent expansion of a substantial nationwide deployment. RAD is gearing up to build an additional 57 RIO™ units, reflecting the strong demand and commitment from this highly esteemed Fortune 50 client.
This move comes as RAD was instructed to begin production of 57 RIO towers by the client, who has indicated the purchase orders will be imminent.
Steve Reinharz, CEO/CTO of AITX and RAD, commented, “We have been anticipating this order for quite some time, and it’s this type of substantial opportunity that drives us towards achieving our long-term goals. These strategic deployments are key to pushing RAD towards becoming cash flow positive this fiscal year and potentially ensuring sustained growth in the future. We appreciate the continued support and confidence of our respected client.”
The Company noted that this one expansion order from this single client is expected to deliver over
Mark Folmer, CPP, PSP, FSyI, President of RAD, added, “The power of our expansion business lies in our ability to serve large national corporations with multiple locations and properties to secure. RAD rarely sells a single unit, instead, we provide comprehensive security solutions that scale with our clients’ needs.”
RMR is money earned from customers who pay for a subscription to a service or product. RAD’s solutions are generally offered as a recurring monthly subscription, typically with a minimum 12-month subscription contract.
Sitting atop a standard RIO configuration are dual ROSA™ units. ROSA is a multiple award-winning, compact, self-contained, portable, security and communication solution that can be installed and activated in about 15 minutes. ROSA’s AI-driven security analytics include human, firearm, vehicle detection, license plate recognition, responsive digital signage and audio messaging, and complete integration with RAD’s software suite notification and autonomous response library. Two-way communication is optimized for cellular, including live video from ROSA’s high-resolution, full-color, always-on cameras. RAD has published six Case Studies detailing how ROSA has helped eliminate instances of theft, trespassing and loitering at retail centers, hospital campuses, multi-family communities, car rental locations and construction sites across the country.
AITX, through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the
RAD has a prospective sales pipeline of over 35 Fortune 500 companies and numerous other client opportunities. RAD expects to continue to attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream. Each Fortune 500 client has the potential of making numerous reorders over time.
About Artificial Intelligence Technology Solutions (AITX)
AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD, RAD-M, RAD-R, and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staff and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. To learn more, visit www.aitx.ai, www.radsecurity.com, www.stevereinharz.com, www.radgroup.ai, www.raddog.ai, and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
The information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of Artificial Intelligence Technology Solutions, Inc. (the “Company”). This publication contains forward-looking statements, which are not guarantees of future performance and may involve subjective judgment and analysis. As such, there are no assurances that the Company will meet its expectations with respect to its future sales volume, becoming cash flow positive, ARR or RMR. The information provided herein is believed to be accurate and reliable, however the Company makes no representations or warranties, expressed or implied, as to its accuracy or completeness. The Company has no obligation to provide the recipient with additional updated information. No information in this publication should be interpreted as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.
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Steve Reinharz
949-636-7060
@SteveReinharz
FAQ
What is the expected revenue increase for AITX from the new Fortune 50 client deployment?
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