- Artificial Intelligence & Robotic Solutions for Multiple Applications.
- Sales Reaching New Record Levels with Latest Orders Booked in June.
- New NFT Launched Based on Company Products.
- Weapon Detection to be in Release of Analytics Software Suite. School Protection Article by CEO Steve Reinharz Published Online.
- CEO Releases Publication on the New Economy, Jobs and Automation.
- Planned Entry Into the $17.6 Billion Residential Security Market.
- AITX Invited by Regional Hospital Group and Top 3 Guarding Company to Demonstrate Labor Saving Solutions.
- CEO Publishes Article Making the Case for Automation Over Interest Rate Hikes.
AITX announced that its sees a clear pathway to profitability within 24 months, principally through the growth of its primary subsidiary, Robotic Assistance Devices, Inc (RAD).
RAD confirmed that there are presently 114 RAD devices on backorder and allocation for deployment. The company sees a high probability path that it will close the current fiscal quarter on August 31, 2022, with over 300 customer new committed units ordered during in the period.
“We talk about sales momentum and it’s great to see it begin, but I feel we’re barely scratching the surface given the extraordinary labor and wage challenges our dealers and clients are suffering from,” said Mark Folmer, President of RAD. “Just a year ago, we celebrated every single unit sale, today the mean sales order volume is greater than 20 units per order.”
Folmer estimated that current projections create expectations of between 700 and 1200 units committed and on order by the end of this fiscal year which ends February 28, 2023.
“The majority of our sales to date and through this quarter are with organizations that are first-movers and leaders in their respective vertical markets,” Folmer added. “Then there’s the ‘fear of missing’ out that follows from the companies that are chasing the leader who’s choosing RAD. We’re seeing it in just about every sector.”
“As we continue this strong upward momentum and level our SG&A expenditures, we have a likelihood of profitability during our next fiscal year,” said Steve Reinharz, CEO of AITX and RAD. “Once we get in the range of one-thousand to fourteen-hundred deployed units, generating a stream of revenue, we expect to see an operational cash flow break-even, depending on the product mix.”
The company added that moving forward SG&A expenses are expected to grow only in support of future demand and revenue growth. “We’ve built a team with remarkable productivity. This, in addition to the systems and processes we’ve implemented, create a business foundation that positions AITX squarely on this path to profitability. All elements for sustainability are in place, all that’s left is our continued excellence, execution, and performance,” Reinharz concluded.
About AITX:
Artificial Intelligence Technology Solutions(Stock Symbol: 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, the AITX RAD, RAD-M 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 staffs 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.
AITX CEO Steve Reinharz Calls for Protecting Schools and Facilities with Advanced AI Technology
On June 23rd AITX announced that its CEO, Steve Reinharz published an online article that discusses the need for equipping the nation’s schools and other facilities with AI-based technology. Reinharz asserts that existing solutions can provide an effective initial deterrence and autonomous responses at the first indication of an active shooter event.
AITX to Deploy 13 Units to Fortune 50 Transportation Company; 1 ROAMEO Mobile Robot and 12 ROSA Devices for 2 Locations
On June 30th AITX announced an agreement with a Fortune 50 global leader in transportation, e-commerce, and business services to deploy 12 ROSA security robots and 1 ROAMEO mobile robot at 2 of the client’s facilities. The client is not being identified at this time due to non-disclosure agreements.
6 ROSAs will be at each of the 2 locations and the single ROAMEO will be on patrol at the client’s largest logistics center. The client has experienced an increase in trespassing at many of their locations. The fleet of ROSA units and the mobile ROAMEO robot are to provide a deterrence to these instances, reducing the client’s reliance on costly manpower. Deployment is expected to begin in July 2022. With this order AITX has publicly announced a record-shattering 85 units ordered during the month of June.
NFT Based on AITX Best-Selling and Award-Winning ROSA
On June 29th AITX announced a non-fungible token (NFT) program. All digital artwork was created in-house. The NFT celebrates ROSA, RAD’s best-selling device which like the NFT is also unique. AITX expects to announce several large-scale orders and deployments over the coming months and years.
AITX Receives Anticipated Large Order, Expanded to 50 Units
On June 16th AITX announced an anticipated large order and the order has expanded to 50 RAD devices, adding 13 additional ROSA security robots. This becomes the largest unit order through an authorized dealer. The dealer is DSI Security Services, one of the nation’s top security companies with over 4500 employees and over $100 Million in Annual Revenue.
Multiple AVA and TOM Order from Leading Global Logistics Company
On June 14th AITX announced an order for 5 security robots from a top ranked global logistics company. The deal is valued in the low six figures plus monthly costs after a set period of time.
AITX Invited by Regional Hospital Group and Top 3 Guarding Company to Demonstrate Labor Saving Solutions
On June 9th AITX announced it will be demonstrating its ROSA(TM), SCOT(TM) and RAD Light My Way(TM) Solutions to a group of hospitals and at least 1 major consumer goods manufacturer as invited and arranged by a top 3 guarding company. AITX partners with guarding companies to help supplement labor vacancies that are presently very difficult and costly to fill. Current labor shortages cannot satisfy the clients’ increasing demand for security services. AITX solutions fulfill both requirements, active duty on the job and security performance.
This is the largest private demonstration of AITX systems, post-pandemic and is at the request and invitation of a large regional healthcare organization.
AITX CEO Steve Reinharz Releases Latest Publication on the New Economy, Jobs, and Automation
On May 19th AITX announced that its CEO, Steve Reinharz has published a new composition that examines how businesses must adapt in the new post-COVID, great resignation economy.
For more information on Artificial Intelligence Technology Solutions, Inc.(AITX) visit:
https://aitx.ai/home-ca/ and www.radlightmyway.com
DISCLAIMER: This article is purely for informational purposes and is not a recommendation in any way for buying or selling stocks.
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Country: United States
Website: https://aitx.ai/home-ca/
