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Maris-Tech Announces $3.4 Million of Order Backlog as of January 1, 2022
REHOVOT, Israel, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK) (“Maris-Tech” or the "Company"), a B2B provider of intelligent video
About this update from Maris-tech Ltd.
[{"type":"text","content":"REHOVOT, Israel, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK) (“Maris-Tech” or the \"Company\"), a B2B provider of intelligent video transmission technology, today announced that the Company's order backlog (\"order backlog\"), as of January 1, 2022, is approximately $3,360,000, of which approximately $968,000 was delivered and recognized as revenue during the six months ended June 30, 2022, approximately $364,000 has been delivered to customers from July 1,2022 through December 7, 2022, and the majority of the approximately $2,028,000 remaining is expected to be delivered and recognized as revenue by June 30, 2023. The Company's order backlog is the accumulation of all pending orders with a later fulfillment date for which the Company considers valid, in addition to recognized revenues since January 1, 2022 and for products delivered since July 1, 2022, which revenue has not been recognized as of December 7, 2022. The order backlog includes orders for the Company’s latest and advanced Jupiter products family, including the Jupiter-nano and the Jupiter AI multiple-stream video platform with edge artificial intelligence acceleration. The order backlog also includes orders for products in development, such as the Jupiter- Space for \"Beresheet 2 Lunar Mission\", and purchase orders for Maris-Tech's Opal platform from a leading defense company. Israel Bar, Chief Executive Officer of Maris-Tech, said “We have been witnessing a growing demand for high-quality video transfer capabilities and uncompromising speed for some time. Thanks to our ability to meet these needs, we acquired strong, quality customers from a variety of industries, including the aerospace industry, in which suppliers are very carefully selected. We believe the future looks very promising for the Company, as we expect the demand for our products to continue to increase.\" About Maris-Tech Ltd. Maris-Tech is a B2B provider of intelligent video transmission technology, founded by veterans of the Israel technology sector with extensive electrical engineering and imaging experience. Our products are designed to meet the growing demands of commercial and tactical applications, delivering high-performance, compact, low power and low latency solutions to companies worldwide, including leading electro-optical payload, RF datalink and unmanned platform m...