AITX’s RAD On Track to Break $10 Million Annual Recurring Revenue Run Rate this Fiscal Year

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RAD’s Fiscal Year 3rd Quarter Order Intake on Track to be Record Breaking Detroit, Michigan, Aug.15, 2024 (GLOBE NEWSWIRE) -- Robotic Assistance Devices, Inc.(RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc., (the "Company”) (OTCPK:AITX), is pleased to share it has been told it will receive an additional 15 sites for RIO device placement.

On August 1, 2024, AITX reported that its recurring monthly revenue (RMR) had grown to approximately $625,000, factoring in both deployed units and those in various stages of deployment but excluding the expected revenue noted in the July 23, 2024 press release.

RAD has published six Case Studies detailing how ROSA has helped eliminate instances of theft, trespassing and loitering at retail centers, hospital campuses, multi-family communities, car rental locations and construction sites across the country.  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.

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Author / Journalist: Artificial Intelligence Technology Solutions, Inc.

Category: Technology

Markets: China

Topics: Other OTC:AITX US04316D2018

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-15 @ 12:40:00 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

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