AITX Announces Q1 FY2025 Financial Results in Latest 10-Q Filing, Exceptional Growth in Revenue and Market Value - Seite 2

2.   Growth in Gross Profit:

AITX achieved a gross profit of $887,207 for the three months ended May 31, 2024, representing a 237% increase over the $373,866 reported for the same period in 2023. This growth highlights the Company’s operational efficiency and ability to manage costs while expanding its revenue base.

3.   Market Value and Share Price Appreciation:

The Company’s market value nearly tripled, reaching approximately $74.7 million as of May 31, 2024, compared to $26.3 million on February 29, 2024. This growth reflects not only the financial strength of AITX but also the increasing market recognition of the Company's strategic direction and innovative product offerings.

Additionally, AITX's share price rose significantly, from $0.0029 on February 29, 2024, to $0.0072 on May 31, 2024. This 150% increase in share price underscores the strong investor confidence in AITX’s vision and execution. The consistent upward trend in share price is indicative of the market's positive response to the Company's growth trajectory and future potential.

Reinharz added, “The surge in our market value and share price is a clear indicator that the market believes in our mission and the value we bring through our solutions. We are committed to maintaining this momentum by continuing to innovate and deliver high-quality products that meet the evolving needs of our customers. Our focus remains on creating long-term value for our shareholders and stakeholders.”

The Company's rental revenue is classified as Recurring Monthly Revenue (RMR), which provides a stable and predictable income stream. RMR is money earned from customers who pay for a subscription to a service or product. RAD’s solutions are generally offered as a recurring monthly subscription, typically with a minimum 12-month subscription contract.

AITX, through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the $25 billion (US) security and guarding services industry through its broad lineup of innovative, AI-driven Solutions-as-a-Service business model. RAD solutions are specifically designed to provide cost savings to businesses of between 35%-80% when compared to the industry’s existing and costly manned security guarding and monitoring model. RAD delivers these tremendous cost savings via a suite of stationary and mobile robotic solutions that complement, and at times, directly replace the need for human personnel in environments better suited for machines. All RAD technologies, AI-based analytics and software platforms are developed in-house.