FatBrain AI ($LZGI) Posts Over $24 Million in Revenue Up 155% Q/Q, Confirms Guidance

Rhea-AI Summary

FatBrain AI (LZGI) reports $24 million revenue, up 155% Q/Q

Positive

• Revenue increased by 155% Q/Q to $24 million

Negative

• Delays in completing annual report

NEW YORK, Sept. 5, 2023 /PRNewswire/ -- FatBrain AI (LZG International, Inc., OTCQB: LZGI) (the "Company," or "we"), the leader in powerful and easy-to-use AI solutions for the enterprise stars of tomorrow, announced it posted over $24 million of revenue during the Mar-May cycle ending May 31, 2023 up 155% Q/Q. 

"We achieved over $24 million of revenue during the Mar-May cycle ending May 31, 2023 up 155% Q/Q, while continuing to invest in R&D. We confirm earlier guidance," said Peter B. Ritz, co-founder and CEO of FatBrain AI ($LZGI). "The rapid growth requires further analysis and control mechanisms. We've experienced unexpected delays in compiling and analyzing supporting documentation for accounting, requiring additional time to complete the annual report."

About FatBrain AI (LZG International, Inc., OTCQB:LZGI)
FatBrain AI provides powerful and easy-to-use AI solutions to empower the enterprise stars of tomorrow to grow, innovate, and drive the majority of the global economy. FatBrain's AI 2.0 technologies and advanced data services transform continuous learning, narrative reasoning, large language models, and cloud and blockchain technologies into auditable, explainable and easy to integrate AI solutions. FatBrain's subscriptions allow all companies to deploy its advanced AI solutions quickly, easily, and securely behind their firewalls or via cloud. FatBrain's global delivery includes 600+ team across design, development centers in the US, UK, India, and Kazakh Republic. 

For more information, please visit: https://www.fatbrain.ai 

Forward Looking Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on September 13, 2022. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are based entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. 

Contact
Brokers and Analysts: 
Chesapeake Group 
410-825-3930 
info@chesapeakegp.com

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SOURCE LZG International, Inc.