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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.
Artificial Intelligence Technology Solutions (AITX) announced orders for 4 ROSA security robots from dealer partners, deploying 2 units each at locations in Maryland and Chicago. These installations aim to address issues with trespassing and vagrancy. RAD President Mark Folmer noted the rapid sales process, highlighting effective dealer training. Additionally, AITX has applied for uplisting to the OTCQB and will provide updates on this status. The ROSA robot features advanced security analytics, including human and vehicle detection, license plate recognition, and two-way communication.
Artificial Intelligence Technology Solutions (OTCPK: AITX) announced its subsidiary Robotic Assistance Devices (RAD) will unveil the RIO project at the upcoming Global Security Exchange (GSX) in Atlanta on September 12-14. The RIO project is expected to capture a significant share of a $500 million market in recurring revenue. RAD plans to produce and deploy 100 RIO systems this year, enhancing software features for better human-machine interaction. Additionally, AITX is pursuing uplisting to OTCQB, with updates on that application forthcoming.
Artificial Intelligence Technology Solutions (AITX) announced the selection of five schools for its 'Bailey's Gift' campaign, aimed at enhancing school security through firearm detection technology. The program will donate 45 ROSA security robots to underfunded K-12 schools in the U.S. AITX plans to direct proceeds from ROSA NFT sales to support this initiative. Schools in Detroit, Kentucky, and Northern California have been chosen. AITX believes over 100,000 K-12 schools could benefit from this technology. The company has also filed for uplisting to the OTCQB.
Artificial Intelligence Technology Solutions announced its subsidiary, Robotic Assistance Devices (RAD), has secured an order for 8 ROSA security robots from a dealer partner. These robots will be deployed in a gated California community, enhancing security through autonomous monitoring.
RAD's President noted this order aligns with their sales expectations, anticipating a record quarter. AITX is also pursuing uplisting to the OTCQB, with future updates on this application expected.
Artificial Intelligence Technology Solutions (AITX) announced a strategic revision to roll out a new robotic dog named 'CASSIE', targeting security services, logistics, utilities, and property management industries. CEO Steve Reinharz emphasized the emergence of a cost-conscious market, prompting the development of this entry-level model. CASSIE will be manufactured in Detroit and is part of a growing sector projected to reach $14 billion by 2030. Additionally, AITX has filed for uplisting to the OTCQB, with future updates expected.
Artificial Intelligence Technology Solutions (OTCPK: AITX) announced that proceeds from its ROSA NFT program will support the Bailey's Gift campaign, aimed at donating 10 ROSA security robots to underfunded K-12 schools in the US. CEO Steve Reinharz highlighted the overwhelming response to the campaign, which may expand to support up to 35 additional units. The campaign is named in memory of Bailey Holt, a shooting victim. 3,333 ROSA NFTs will mint, priced at 0.07 ETH. AITX is also pursuing uplisting to the OTCQB.
Artificial Intelligence Technology Solutions, Inc. (AITX) announced a significant order for 2 AVA autonomous security robots from a leading global distribution company. This order, facilitated by a major dealer, marks the entry of a new client for RAD. The AVA units are designed to improve access control efficiently, addressing labor shortages in the logistics industry. AITX is also pursuing uplisting to the OTCQB, indicating growth potential. The AVA units have been recognized with the 2022 SIA New Products and Solutions Award.
Artificial Intelligence Technology Solutions (OTCPK: AITX) has expanded its dealer network by signing two new authorized dealers in Tallahassee, Florida and Corpus Christi, Texas. These dealers have already placed orders for two ROSA security robots. RAD's network now includes 46 dealers across the US, Canada, the UK, and the EU. CEO Steve Reinharz expressed optimism, citing enhanced sales opportunities due to increased dealer presence. Furthermore, AITX has filed for uplisting to the OTCQB.
Artificial Intelligence Technology Solutions (AITX), through its subsidiary Robotic Assistance Devices (RAD), launched the 'Bailey's Gift' campaign to donate at least 10 ROSA security robots to underfunded K-12 schools in the US. This initiative, named after Bailey Holt, a school shooting victim, aims to enhance school safety with advanced firearm detection technology. ROSA robots can detect firearms from over 150 feet away, alerting school personnel and law enforcement instantly. Schools can apply for these donations at RAD's official website. AITX is also pursuing uplisting to OTCQB.
Artificial Intelligence Technology Solutions (OTCPK: AITX) announced that its subsidiary, Robotic Assistance Devices (RAD), has secured an order for 5 security robots from a major global logistics firm. Valued in the low six figures, this order enhances the client's total to 44 RAD devices. The client, an existing Fortune 500 partner, is expanding its security solutions. RAD's technology aims to address labor shortages and e-commerce demands in the logistics sector, projected to grow significantly by 2030. AITX is also pursuing uplisting to OTCQB.
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