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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.
Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), has achieved a significant milestone of surpassing 1,000 deployed and contracted security devices as of October 2024. This achievement marks RAD's transition from an industry disruptor to a mainstream security solution provider.
The company's growth is driven by its AI-driven security technologies, including RIO™, ROSA™, and AVA™ devices, which offer organizations cost-effective alternatives to traditional security measures. RAD's solutions provide businesses with cost savings of 35%-80% compared to conventional manned security services. The company maintains a strong sales pipeline, including over 35 Fortune 500 companies, and continues to expand its product offerings and channel partner network to meet growing demand.
Artificial Intelligence Technology Solutions (AITX) anticipates increased government focus on public safety and security measures, regardless of election outcomes. The company, through its subsidiary Robotic Assistance Devices (RAD), is positioned to support these initiatives with AI-driven security solutions that offer 35%-80% cost savings compared to traditional security services.
The Biden-Harris administration has already increased funding for crime prevention, including $100 million for Community Violence Intervention and $10 billion in American Rescue Plan funds dedicated to public safety. RAD's recent successful deployments in Downtown Cleveland demonstrate the growing demand for autonomous security solutions in public spaces.
Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), has unveiled its next-generation wheeled security robot, ROAMEO Generation 4. Set for customer demonstrations in March 2025, this autonomous security robot stands 6'9" tall, weighs 1,609 lbs, and offers up to 16 hours of continuous operation. The robot features advanced AI integration, full autonomous navigation, and recharging capabilities. RAD estimates that 250 deployed ROAMEO units could generate up to $20 million in annual recurring revenue. The robot is designed for various applications including industrial facilities, university campuses, automotive dealerships, and corporate headquarters.
Artificial Intelligence Technology Solutions (OTCPK:AITX) announces its transition to the newly established OTCID Market, effective July 2025. The company has maintained SEC filing compliance since 2019, exceeding current Pink Market requirements. Through its subsidiary Robotic Assistance Devices (RAD), AITX is disrupting the $50 billion security industry with AI-driven Solutions-as-a-Service, offering businesses 35%-80% cost savings compared to traditional security services. The company has a prospective sales pipeline including over 35 Fortune 500 companies and provides AI-based security solutions across multiple sectors including enterprise, government, transportation, and healthcare.
Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), announces significant cost optimizations for its Generation 4 product lineup in Q3. Initially, Gen 4 products were 22% more expensive than Gen 3, but improvements in manufacturing and supply chain efficiencies have reduced this gap to 10%. The company implemented a 12% price increase to maintain target gross margins. The Generation 4 lineup, launched in Q2 FY 2025, includes AVA Gen 4, ROSA Gen 4, and RIO Gen 4. RAD's solutions aim to provide businesses with 35%-80% cost savings compared to traditional security services.
Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions (AITX), reports dozens of Fortune 1000 organizations showing strong interest in ROAMEO Gen4, their autonomous mobile security robot. Deliveries are scheduled to begin in Spring 2025, targeting healthcare, logistics, municipal operations, and higher education sectors. The company expects to achieve 100 deployments by end of 2026, with 250 deployed units potentially generating $20 million in annual recurring revenue. ROAMEO Gen4 features 360-degree view, high-resolution cameras, and advanced AI analytics based on proprietary AIR™ technology, designed to reduce security costs by replacing or supplementing traditional guard operations.
AITX's subsidiary RAD-R has acquired 1 million unique MAC addresses for its RADCam security devices, with 10,000 addresses allocated for the first production run. The company plans to begin shipments in December 2024. RADCam, marketed as the world's first 'talking' security camera, features AI and LLM technologies with autonomous interaction capabilities. The MAC addresses acquisition ensures secure device identification and demonstrates RAD-R's complete control over code, server, and processing operations, all based in the United States. Pre-orders are currently being accepted through radcam.ai.
AITX's subsidiary RAD-M has achieved Level 5 autonomous navigation for its ROAMEO Gen4 security robot, marking a significant advancement in mobile robotic security. This breakthrough allows ROAMEO Gen4 to operate independently across various environments without human intervention, featuring capabilities such as dynamic obstacle avoidance, gateway pass through, and narrow lane navigation.
ROAMEO Gen4 is expected to start shipping in Spring 2025, with production increasing as sales momentum grows. The robot aims to provide a cost-effective alternative to traditional security guards, particularly for outdoor patrol duties. With approximately 396,000 security guards working in outdoor environments in the US, ROAMEO Gen4 presents a significant market opportunity.
The company anticipates that ROAMEO Gen4 will contribute to AITX's growing Recurring Monthly Revenue, aligning with their long-term strategy of delivering innovative and sustainable solutions in the security industry.
Artificial Intelligence Technology Solutions (OTCPK:AITX) reported strong financial results for Q2 FY 2025 ending August 31, 2024. Revenue increased 348% to $1,344,183 compared to the same period last year, driven by growth in monthly recurring rental revenue. Gross profit rose 301% to $559,218, reflecting improved operational efficiency. The company's market capitalization grew 43% over Q2 FY 2024.
AITX recorded its largest order intake of 172 units, potentially generating $212K in monthly recurring revenue when deployed. The company is targeting $1 million in recurring monthly revenue by fiscal year-end (February 28, 2025). CEO Steve Reinharz highlighted the growing demand for AITX's AI-driven security solutions and expressed confidence in reaching operational profitability.
Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc. (OTCPK:AITX), has announced that its solar-powered RIO™ 360 security tower was featured on News 5 Cleveland. The segment highlighted RAD's deployment at Public Square in downtown Cleveland, in partnership with Downtown Cleveland, Inc.
Troy McCanna, RAD's Chief Security Officer, was interviewed about how the AI-driven technology enhances public safety. The RIO 360 system, equipped with 360-degree surveillance and AI-based autonomous responses, aims to deter crime, detect loitering, and engage visitors with informative messages.
The deployment is part of a larger initiative between RAD and Downtown Cleveland, Inc. to integrate cutting-edge security solutions in the city center. The RIO 360 configuration includes dual ROSA™ units, which offer AI-driven security analytics, responsive digital signage, and two-way communication capabilities.
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