Artificial Intelligence Technology Solutions, Inc. (AITX) announced its financial results for the third quarter of fiscal year 2025, ending on November 30, 2024, on January 14, 2025. The company reported revenues of $4,277,951 for the nine months ended November 30, 2024, representing a 213% increase over the $1,386,363 reported for the same period in 2023.
Total rental revenue for the three months ended November 30, 2024, reached $1,750,968, marking a 30% increase compared to $1,344,183 in the prior quarter. This signifies the third consecutive quarter of strong revenue growth, driven by robust demand and the effectiveness of AITX’s recurring revenue model.
AITX successfully completed the transition from its third-generation (Gen 3) platform to the fourth-generation (Gen 4) platform during the quarter. This technological leap brings benefits such as reduced device build times, decreased weight by 33%, and improved audio intelligibility, positioning the company for faster scaling and enhanced value delivery.
CEO Steve Reinharz stated that these financial results bring AITX closer to its immediate goal of achieving full operational positive cash flow in calendar year 2025. The company's 2025 Investor Presentation, scheduled for January 15, 2025, will provide detailed revenue projection models for fiscal year 2026, with targets between $12 million and $18 million.
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