RMR

AITX’s RAD January SaaS Revenue Up 383%; Contracts In-Hand Break $500K Recurring Monthly Revenue Milestone as Strong Growth Continues

Retrieved on: 
Monday, February 12, 2024

Specifically, contracted (including deployed and contracted to-be-deployed) revenue derived from device rental (SaaS revenue) now surpasses $500,000 a month.

Key Points: 
  • Specifically, contracted (including deployed and contracted to-be-deployed) revenue derived from device rental (SaaS revenue) now surpasses $500,000 a month.
  • Furthermore, the Company reports that January 2024 invoiced SaaS revenue was 383% greater than January 2023 invoiced revenue, coming in (unaudited) at $226K for the month.
  • On January 29, 2024, the Company announced that booked recurring monthly revenue (RMR) was up 476% over the previous year.
  • RAD expects to continue to attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream.

The RMR Group Inc. Announces First Quarter Fiscal 2024 Results

Retrieved on: 
Wednesday, February 7, 2024

The RMR Group Inc. (Nasdaq: RMR) today announced its financial results for the fiscal quarter ended December 31, 2023, which can be found at the Quarterly Results section of RMR’s website at https://www.rmrgroup.com/investors-and-media/financial-information/defau... .

Key Points: 
  • The RMR Group Inc. (Nasdaq: RMR) today announced its financial results for the fiscal quarter ended December 31, 2023, which can be found at the Quarterly Results section of RMR’s website at https://www.rmrgroup.com/investors-and-media/financial-information/defau... .
  • View the full release here: https://www.businesswire.com/news/home/20240207910912/en/
    A conference call to discuss RMR’s fiscal first quarter results will be held on Thursday, February 8, 2024 at 10:00 a.m. Eastern Time.
  • A live audio webcast of the conference call will also be available in a listen-only mode on RMR’s website, at www.rmrgroup.com .
  • The transcription, recording and retransmission in any way are strictly prohibited without the prior written consent of RMR.

AITX’s RAD Announces that Major Order Arrives Ahead of Schedule from Fortune 50 Client

Retrieved on: 
Monday, February 5, 2024

This new order expands the already robust partnership between RAD and the client, which has previously placed over 100 RIO orders, as well as setting expectations for continued rapid expansion.

Key Points: 
  • This new order expands the already robust partnership between RAD and the client, which has previously placed over 100 RIO orders, as well as setting expectations for continued rapid expansion.
  • The request for an accelerated rollout comes as RAD has been approximately one month ahead of expectations in the delivery schedule for Phase 2 and Phase 3 of the client's deployment plan.
  • Currently, RAD is on track to having its devices operational in approximately 50 of the client's sites per existing contracts.
  • RAD has a prospective sales pipeline of over 35 Fortune 500 companies and numerous other client opportunities.

Canada's vacancy rate reaches new low as demand outpaces supply

Retrieved on: 
Wednesday, January 31, 2024

As a result, the national vacancy rate for Canada's primary rental market reached a new low of 1.5% in 2023, the lowest recorded rate since 1988, when CMHC began recording a national vacancy rate.

Key Points: 
  • As a result, the national vacancy rate for Canada's primary rental market reached a new low of 1.5% in 2023, the lowest recorded rate since 1988, when CMHC began recording a national vacancy rate.
  • Average rent growth for 2-bedroom purpose built rental units surveyed in both 2022 and 2023, referred to as "same-sample" rent growth, reached 8% in 2023, well above historical averages.
  • (see table below)
    Although most Canadian cities saw increased rental supply, it was not enough to keep pace with increased demand pressures, caused mainly by high population and employment growth.
  • The average vacancy rate for rented condominiums in the 17 census metropolitan areas (CMAs) surveyed by CMHC fell to 0.9% in 2023, down from 1.6% in 2022.

AITX Announces Strong Financial Growth with 2.7x Increase in Recurring Revenue, SG&A Expense Reduction and Debt Extensions in Latest 10-Q Filing

Retrieved on: 
Wednesday, January 17, 2024

The report showcases significant growth in Recurring Monthly Revenue (RMR) while managing a reduction in Selling, General, and Administrative (SG&A) expenses, alongside a strategic extension of debt maturity.

Key Points: 
  • The report showcases significant growth in Recurring Monthly Revenue (RMR) while managing a reduction in Selling, General, and Administrative (SG&A) expenses, alongside a strategic extension of debt maturity.
  • This substantial growth in RMR, a key metric for the company, underscores continued strong growth.
  • AITX successfully extended the maturity date of approximately $10.8 million of debt with its key lender.
  • The Company remains dedicated to delivering innovative AI-driven security solutions while maintaining a strong focus on financial health and operational efficiency.

The RMR Group Announces Quarterly Dividend on Common Shares

Retrieved on: 
Thursday, January 11, 2024

The RMR Group Inc. (Nasdaq: RMR) today announced a regular quarterly cash distribution on its shares of Class A Common Stock and Class B-1 Common Stock of $0.40 per share ($1.60 per share per year).

Key Points: 
  • The RMR Group Inc. (Nasdaq: RMR) today announced a regular quarterly cash distribution on its shares of Class A Common Stock and Class B-1 Common Stock of $0.40 per share ($1.60 per share per year).
  • This distribution will be paid to RMR’s shareholders of record as of the close of business on January 22, 2024 and distributed on or about February 15, 2024.

The RMR Group Fiscal First Quarter 2024 Conference Call Scheduled for Thursday, February 8th

Retrieved on: 
Wednesday, January 10, 2024

The RMR Group (Nasdaq: RMR) today announced that it will issue a press release containing its fiscal first quarter 2024 financial results after the Nasdaq closes on Wednesday, February 7, 2024.

Key Points: 
  • The RMR Group (Nasdaq: RMR) today announced that it will issue a press release containing its fiscal first quarter 2024 financial results after the Nasdaq closes on Wednesday, February 7, 2024.
  • On Thursday, February 8, 2024 at 10:00 a.m. Eastern Time, President and Chief Executive Officer Adam Portnoy and Chief Financial Officer Matt Jordan will host a conference call to discuss these results.
  • A replay of the conference call will be available through 11:59 p.m. Eastern Time on Thursday, February 15, 2024.
  • The archived webcast will be available for replay on the company’s website after the call.

AITX Recurring Annual Revenue to Break $5 Million

Retrieved on: 
Thursday, December 21, 2023

Detroit, Michigan, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX), a global leader in AI-driven security and productivity solutions for enterprise clients along with its wholly owned subsidiary, Robotic Assistance Devices, Inc. (RAD), today announced that with the receipt of several expansion orders from existing clients, the Company anticipates passing the $5 million recurring annual revenue milestone upon all booked and anticipated orders being successfully deployed and accepted by the customers. This is as of December 20, 2023.

Key Points: 
  • With a cashflow break-even estimated at $7 million in annual recurring revenue the Company appears to be fulfilling its growth forecast as described at the November 3, 2023 Investors Conference that is available on the AITX YouTube channel .
  • The Company noted that revenues from implementation, training and monitoring are not included in the $7 million recurring revenue goal.
  • Mark Folmer, CPP, PSP, FSyI, President of RAD commented, “We are profoundly grateful for the dedication of our team and the trust of our customers that have brought us to the cusp of achieving $5 million in recurring annual revenue.
  • RAD expects to continue to attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream.

CORRECTED PRESS RELEASE FROM THE DECEMBER 12, 2023 PRESS RELEASE DISTRIBUTED TO THE PUBLIC IN THE MORNING OF DECEMBER 12, 2023.

Retrieved on: 
Tuesday, December 12, 2023

Detroit, Michigan, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Artificial Intelligence Technology Solutions, Inc., (the “Company”) (OTCPK:AITX), a global leader in AI-driven security and productivity solutions along with its wholly owned subsidiary, Robotic Assistance Devices, Inc. (RAD), today announced their Q3 FY 2024 order intake results. These results indicate significant growth in device orders and Recurring Monthly Revenue (RMR) compared to the same period last year. These results also underscore the Company’s continued progress in the AI-powered, security solutions market.

Key Points: 
  • These results indicate significant growth in device orders and Recurring Monthly Revenue (RMR) compared to the same period last year.
  • These results also underscore the Company’s continued progress in the AI-powered, security solutions market.
  • For the quarter ended November 30, 2023, RAD booked 144 devices on order, a 435% increase over the number of devices ordered in Q3 of FY2023 (33 units).
  • RAD expects to continue to attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream.

AITX Q3 FY 2024 Sees 435% Order Growth Year Over Year

Retrieved on: 
Tuesday, December 12, 2023

These results indicate significant growth in device orders and Recurring Monthly Revenue (RMR) compared to the same period last year.

Key Points: 
  • These results indicate significant growth in device orders and Recurring Monthly Revenue (RMR) compared to the same period last year.
  • For the quarter ended November 30, 2023, RAD booked 144 devices on order, a 435% increase over the number of devices ordered in Q3 of FY2023 (33 units).
  • The Company’s FY 2024 will end February 29, 2024.
  • The Company’s FY 2024 Q3 booked revenues were $151,000, a 484% increase over the same period in FY 2023.