- Artificial Intelligence Technology Solutions ( OTCPK:AITX ) expects FQ3 revenue increase of 50% to $402,399.
- The company also noted that gross margin increased nearly 15% from 50% to 57%.
- The company has also projected that the results of fiscal year 2024 are expected to yield ~$800,000 in monthly recurring revenue by February 2024, which if achieved would place the company in a positive cash flow position.
- The total operating expenses amounted to $3.09M, representing a 9% decline from the previous quarter.
- Stock drops 1.5% post-market
For further details see:
AITX's FQ3 projected to be up 50%; 5x growth projected in FY 2024