MultiSensor AI Announces Fourth Quarter and Full Year 2024 Results
MultiSensor AI Holdings (NASDAQ:MSAI) reported strong financial results for Q4 and full year 2024. Full-year revenue grew 36% to $7.4 million, with software revenue increasing 30% to $1.0 million. The company significantly improved its financial position, reducing net loss per share by 70% to $1.07 and increasing cash position to $4.4 million from $1.6 million year-over-year.
Operational metrics showed remarkable growth, with connected sensors increasing 360% to 460 and deployment sites expanding 400% to 50 worldwide. Total liabilities decreased substantially from $16.6 million to $3.2 million. The company's MSAI Connect platform demonstrated strong ROI, with their largest customer achieving over 4x return and less than one-year payback period.
The company underwent leadership changes, appointing Trip Flavin as Interim CEO, Peter Baird as Chief Commercial Officer, and Robert Nadolny as CFO to support its transformation into a leading SaaS provider in predictive maintenance.
MultiSensor AI Holdings (NASDAQ:MSAI) ha riportato risultati finanziari solidi per il quarto trimestre e l'intero anno 2024. Il fatturato annuale è aumentato del 36% raggiungendo 7,4 milioni di dollari, con un incremento del fatturato software del 30% a 1,0 milione di dollari. L'azienda ha migliorato significativamente la propria posizione finanziaria, riducendo la perdita netta per azione del 70% a 1,07 dollari e aumentando la posizione di cassa a 4,4 milioni di dollari rispetto ai 1,6 milioni dell'anno precedente.
I metriche operative hanno mostrato una crescita notevole, con sensori connessi aumentati del 360% a 460 e siti di distribuzione espansi del 400% a 50 in tutto il mondo. Le passività totali sono diminuite sostanzialmente da 16,6 milioni a 3,2 milioni di dollari. La piattaforma MSAI Connect dell'azienda ha dimostrato un forte ROI, con il loro cliente più grande che ha ottenuto oltre 4 volte il ritorno e un periodo di recupero inferiore a un anno.
L'azienda ha subito cambiamenti nella leadership, nominando Trip Flavin come CEO ad interim, Peter Baird come Chief Commercial Officer e Robert Nadolny come CFO per supportare la sua trasformazione in un fornitore leader di SaaS nella manutenzione predittiva.
MultiSensor AI Holdings (NASDAQ:MSAI) reportó resultados financieros sólidos para el cuarto trimestre y el año completo 2024. Los ingresos anuales crecieron un 36% alcanzando 7,4 millones de dólares, con un aumento del 30% en los ingresos por software a 1,0 millón de dólares. La compañía mejoró significativamente su posición financiera, reduciendo la pérdida neta por acción en un 70% a 1,07 dólares y aumentando su posición de efectivo a 4,4 millones de dólares desde 1,6 millones en comparación con el año anterior.
Las métricas operativas mostraron un crecimiento notable, con sensores conectados aumentando un 360% a 460 y sitios de despliegue expandiéndose un 400% a 50 en todo el mundo. Las obligaciones totales disminuyeron sustancialmente de 16,6 millones a 3,2 millones de dólares. La plataforma MSAI Connect de la empresa demostró un fuerte ROI, con su mayor cliente logrando más de 4 veces el retorno y un período de recuperación de menos de un año.
La empresa experimentó cambios en la dirección, nombrando a Trip Flavin como CEO interino, a Peter Baird como Director Comercial y a Robert Nadolny como CFO para apoyar su transformación en un proveedor líder de SaaS en mantenimiento predictivo.
MultiSensor AI Holdings (NASDAQ:MSAI)는 2024년 4분기 및 연간 강력한 재무 결과를 보고했습니다. 연간 수익은 36% 증가하여 740만 달러에 달했습니다, 소프트웨어 수익은 30% 증가하여 100만 달러에 도달했습니다. 회사는 재무 상태를 크게 개선하여 주당 순손실을 70% 줄여 1.07달러로 낮추고, 현금 보유액을 전년 대비 160만 달러에서 440만 달러로 증가시켰습니다.
운영 지표는 주목할 만한 성장을 보여주었으며, 연결된 센서가 360% 증가하여 460개에 도달했고 배치 사이트는 전 세계적으로 400% 증가하여 50개에 도달했습니다. 총 부채는 1660만 달러에서 320만 달러로 크게 감소했습니다. 회사의 MSAI Connect 플랫폼은 강력한 ROI를 보여주었으며, 가장 큰 고객이 4배 이상의 수익을 올리고 1년 미만의 회수 기간을 기록했습니다.
회사는 리더십 변화를 겪었으며, Trip Flavin을 임시 CEO로, Peter Baird를 최고 상업 책임자로, Robert Nadolny를 CFO로 임명하여 예측 유지보수 분야의 선도적인 SaaS 제공업체로의 변화를 지원합니다.
MultiSensor AI Holdings (NASDAQ:MSAI) a rapporté de solides résultats financiers pour le quatrième trimestre et l'année complète 2024. Le chiffre d'affaires annuel a augmenté de 36% pour atteindre 7,4 millions de dollars, avec une augmentation de 30% des revenus logiciels à 1,0 million de dollars. L'entreprise a considérablement amélioré sa situation financière, réduisant la perte nette par action de 70% à 1,07 dollar et augmentant sa position de trésorerie à 4,4 millions de dollars contre 1,6 million de dollars l'année précédente.
Les indicateurs opérationnels ont montré une croissance remarquable, avec des capteurs connectés augmentant de 360% pour atteindre 460 et des sites de déploiement s'étendant de 400% à 50 dans le monde entier. Les passifs totaux ont considérablement diminué, passant de 16,6 millions de dollars à 3,2 millions de dollars. La plateforme MSAI Connect de l'entreprise a démontré un fort ROI, avec son plus grand client réalisant plus de 4 fois le retour et un délai de récupération de moins d'un an.
L'entreprise a subi des changements de direction, nommant Trip Flavin comme PDG par intérim, Peter Baird comme directeur commercial et Robert Nadolny comme CFO pour soutenir sa transformation en un fournisseur SaaS de premier plan dans la maintenance prédictive.
MultiSensor AI Holdings (NASDAQ:MSAI) hat starke finanzielle Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 gemeldet. Der Jahresumsatz wuchs um 36% auf 7,4 Millionen Dollar, wobei die Softwareumsätze um 30% auf 1,0 Million Dollar stiegen. Das Unternehmen verbesserte seine finanzielle Lage erheblich, indem es den Nettoverlust pro Aktie um 70% auf 1,07 Dollar reduzierte und die Liquidität von 1,6 Millionen Dollar auf 4,4 Millionen Dollar im Jahresvergleich erhöhte.
Die operativen Kennzahlen zeigten ein bemerkenswertes Wachstum, mit verbundenen Sensoren, die um 360% auf 460 anstiegen und den Einsatzstandorten, die um 400% auf 50 weltweit wuchsen. Die Gesamtverbindlichkeiten sanken erheblich von 16,6 Millionen Dollar auf 3,2 Millionen Dollar. Die MSAI Connect-Plattform des Unternehmens zeigte einen starken ROI, wobei der größte Kunde über 4-fachen Ertrag und eine Amortisationszeit von weniger als einem Jahr erzielte.
Das Unternehmen erlebte Führungswechsel und ernannte Trip Flavin zum Interims-CEO, Peter Baird zum Chief Commercial Officer und Robert Nadolny zum CFO, um seine Transformation zu einem führenden SaaS-Anbieter im Bereich der prädiktiven Wartung zu unterstützen.
- Revenue growth of 36% YoY to $7.4 million
- Software revenue increased 30% to $1.0 million
- Net loss per share decreased 70% to $1.07
- Cash position improved from $1.6M to $4.4M
- Total liabilities reduced from $16.6M to $3.2M
- Connected sensors grew 360% to 460 units
- Deployment sites increased 400% to 50 worldwide
- Company still operating at a loss despite improvements
- Software revenue remains relatively small at $1.0M compared to total revenue
Insights
MultiSensor AI's Q4 and FY2024 results demonstrate strong financial improvement across key metrics. The 36% year-over-year revenue growth to
The balance sheet transformation is particularly noteworthy. Cash reserves nearly tripled from
From a valuation perspective, MSAI trades at approximately 5.1x trailing revenue with a
The customer success metric - 4x ROI with sub-one-year payback - demonstrates compelling product-market fit. However, with software revenue at
MSAI's operational metrics reveal aggressive expansion in its sensor network and deployment footprint. The
The international expansion to eight countries with planned multilingual capabilities signals a strategic push beyond domestic markets. This geographic diversification reduces market concentration risk while creating new growth vectors. However, the disconnect between sensor/site growth (
The executive restructuring with a new interim CEO, CCO, and CFO indicates a deliberate organizational realignment to accelerate the SaaS transformation. Industry 4.0 and predictive maintenance represent massive market opportunities as manufacturing and industrial companies increasingly adopt IoT and AI-powered solutions to optimize operations.
The reported 4x ROI with sub-one-year payback from their largest customer provides powerful validation of their value proposition. In industrial settings, preventing unplanned downtime delivers exceptional ROI by avoiding production losses, which can cost thousands per minute in high-value manufacturing environments. This compelling economic benefit should drive continued adoption if MSAI can effectively communicate and replicate these results across their customer base.
Full Year Revenue Increased
Increased Liquidity Further Strengthens Balance Sheet
HOUSTON, TX / ACCESS Newswire / March 28, 2025 / MultiSensor AI Holdings, Inc. (NASDAQ:MSAI) (the "Company" or "MSAI"), a pioneer in condition-based monitoring and predictive maintenance enabling Industry 4.0, announced results for the fourth quarter and year ended December 31, 2024.
Trip Flavin, Interim CEO, commented: "This was an important quarter for MSAI. We have started to take the necessary steps to reposition the Company for long-term success and navigate our next phase of growth. We refined our strategy to focus on building our position as a SaaS leader in predictive maintenance and strengthened our leadership team to support this new strategy. With our enhanced leadership team and a clear strategic vision, we believe that we are better positioned than ever to drive innovation, expand our commercial reach, and deliver long-term value to our customers and stakeholders."
Robert Nadolny, CFO, continued, "As we close out Q4 2024, we are pleased to report strong revenue growth, a testament to the resilience and strategic execution of our team. We believe the
Financial Highlights:
Full year 2024 revenue increased
36% to$7.4 million from$5.4 million in 2023. Software revenue increased30% to$1.0 million from$0.8 million in 2023.Net loss per share decreased
70% to$1.07 as of December 31, 2024.Overall liquidity increased as the Company's cash position grew to
$4.4 million as of December 31, 2024, from$1.6 million as of December 31, 2023. Total liabilities decreased to$3.2 million as of December 31, 2024, from$16.6 million as of December 31, 2023.
Strategic Business Highlights:
As of December 31, 2024, the Company has approximately 460 active streaming sensors connected to our MSAI Connect platform as compared to approximately 100 as of December 31, 2023, a
360% increase year over year.Our sensors are deployed at approximately 50 sites worldwide as of December 31, 2024, as compared to 10 as of December 31, 2023, a
400% increase year over year.Our platform is deployed in eight countries world-wide and starting in April 2025, we expect our software will be available in multiple languages.
Our largest customer of MSAI Connect is achieving a greater than four times return on investment to date and a payback period of less than one year through minimizing unplanned downtime and reducing process waste through enhanced predictive maintenance.
Organization Transformation:
In the fourth quarter, the Company appointed Trip Flavin as Interim CEO. With a commitment to accelerating MSAI's transformation into a leading SaaS provider in predictive maintenance, Trip brings a wealth of expertise in innovation and operational excellence to spearhead our next growth phase.
To better align the executive team with strategic objectives, the Company in January 2025 appointed Peter Baird as Chief Commercial Officer, tasked with driving commercial growth, and Robert Nadolny as Chief Financial Officer, focused on strengthening financial strategy.
The Company's Annual Report is filed with the SEC, and is available at www.sec.gov as well as in the Investor Relations section of the Company's website (www.multisensorai.com).
About MultiSensor AI
MultiSensor AI builds and deploys intelligent multi-sensing platforms incorporating edge and cloud software solutions that leverage artificial intelligence. MSAI's integrated solutions utilize data generated from an array of sensors and sensor modalities including high-resolution thermal imagers, visible and acoustic imagers, as well as vibration and laser spectroscopy sensors, to protect customers' most critical assets. MSAI's platform combines condition-based monitoring data with proprietary edge and cloud software to generate actionable insights that, we believe, minimize unplanned downtime, reduce maintenance costs, prevent hazards, and extend asset life.
For more information, please visit https://www.multisensorai.com
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "will," or their negatives or variations of these words, or similar expressions. All statements contained in this press release that do not strictly relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the Company management's expectations regarding its strategic priorities and objectives, future plans and business prospects. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, as such factors may be updated from time to time in the Company's other filings with the SEC. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. Any forward-looking statement made in this press release is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable law, the Company expressly disclaims any obligations to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Media & Investor Contact:
Alpha IR Group
Mike Cummings or Nick Teves
MSAI@alpha-ir.com
MultiSensor AI Holdings, Inc.
Condensed Consolidated Statements of Operations
(Amounts in thousands of U.S. dollars, except share and per share data)
|
| Year Ended December 31, |
| |||||
|
| 2024 |
|
| 2023 |
| ||
Revenue, net |
| $ | 7,402 |
|
| $ | 5,430 |
|
Cost of goods sold (exclusive of depreciation) |
|
| 2,582 |
|
|
| 2,297 |
|
Inventory impairment |
|
| 2,272 |
|
|
| 1,689 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
Selling, general and administrative |
|
| 15,655 |
|
|
| 8,044 |
|
Share-based compensation expense |
|
| 3,382 |
|
|
| 14,061 |
|
Depreciation |
|
| 1,140 |
|
|
| 872 |
|
Loss (gain) on asset disposal |
|
| 322 |
|
|
| (56 | ) |
Other Loss |
|
| 930 |
|
|
| - |
|
Total operating expenses |
|
| 21,429 |
|
|
| 22,921 |
|
Operating loss |
|
| (18,881 | ) |
|
| (21,477 | ) |
Interest expense |
|
| 63 |
|
|
| 94 |
|
Change in fair value of convertible notes |
|
| 475 |
|
|
| (970 | ) |
Tariff refund |
|
| - |
|
|
| (2,401 | ) |
Change in fair value of warrants liabilities |
|
| (39 | ) |
|
| (195 | ) |
Loss on financing transaction |
|
| 1,553 |
|
|
| 4,043 |
|
Other expenses, net |
|
| 1,027 |
|
|
| 12 |
|
Loss before income taxes |
|
| (21,960 | ) |
|
| (22,060 | ) |
Income tax expense (benefit) |
|
| (465 | ) |
|
| 208 |
|
Net loss |
| $ | (21,495 | ) |
| $ | (22,268 | ) |
Weighted-average shares outstanding, basic and diluted |
|
|
|
|
|
|
|
|
Basic |
|
| 20,119,161 |
|
|
| 6,257,476 |
|
Diluted |
|
| 20,119,161 |
|
|
| 6,257,476 |
|
Net loss per share, basic and diluted |
|
|
|
|
|
|
|
|
Basic |
|
| (1.07 | ) |
|
| (3.56 | ) |
Diluted |
|
| (1.07 | ) |
|
| (3.56 | ) |
SOURCE: MultiSensor AI Holdings, Inc.
View the original press release on ACCESS Newswire
FAQ
What was MSAI's revenue growth in 2024?
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What is the ROI for MSAI Connect's largest customer?
