RAD sees record quarterly sales intake, 343% increase in number of units sold

DETROIT – Artificial Intelligence Technology Solutions (AITX) has reported that its wholly owned subsidiary, Robotic Assistance Devices (RAD), saw a record number of devices ordered for Q2 of fiscal year 2024.

During the quarter RAD booked 155 devices on order, a 343% increase over the number of devices ordered in Q1 of 2024. The company’s fiscal year 2024 will end Feb. 29, 2024. “All engines are firing, and this RAD rocket has entered a new orbit,” said Steve Reinharz, CEO of AITX and RAD. “I am so pleased to be able to share these incredible results with our investor community. The product mix sold and sales channel mix that are ideal. Now let’s add some more fuel and keep this going.”

Rad offered the following intake statistics for the quarter:

• 90% of all units ordered were a version of RAD’s award-winning ROSA™
  • 59 ROSA standalone units
  • 51 RIO 360 units
  • RIO 360 is a dual-ROSA configured solar powered security tower
  • 30 RIO 180 units
  • RIO 180 is also a solar powered security tower configured with a single ROSA
• RAD’s AVA (14 units ordered), and SCOT (1 unit ordered) made up the difference
• 59% of all orders were facilitated by RAD’s dealer channel

Reinharz added, “The RMR that we expect to soon realize on these 155 units is more than $170,000 per month. That number, plus the RMR that we are already generating from the hundreds of units in the field could, if sustainable, could put us on a run-rate towards $10 million to $12 million in annual revenue.” RAD clarified that their solutions are generally offered as a recurring monthly subscription, typically with a minimum 12-month subscription contract.

Deployed on the RIO 360 configuration, ROSA is RAD’s compact, self-contained, portable, security and communication solution that can be installed and activated in about 15 minutes. ROSA’s AI-driven security analytics include human, firearm, vehicle detection, license plate recognition, responsive digital signage and audio messaging, and complete integration with RAD’s software suite notification and autonomous response library.

“RIO has proven to be a towering success,” said Mark Folmer, CPP, PSP, FSyI, President of RAD. Dealer and corporate end-user demand has exceeded our once-ambitious forecasts, and the more RIOs that get deployed, the greater the likelihood of expansion orders.”

More information is available at radsecurity.com.