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Maris-Tech Announces Financial Results For the Six Months Ended June 30, 2023
Rehovot, Israel, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the “Company”), a B2B provider of edge computing
About this update from Maris-tech Ltd.
[{"type":"text","content":"Rehovot, Israel, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the “Company”), a B2B provider of edge computing artificial intelligence (“AI”) accelerated video solutions for edge platforms, today announced its financial report for the six months ended June 30, 2023. Revenue for the six-months ended June 30, 2023 was $473,853, compared to $967,925 for the same six-month period in 2022. Net loss for the six-months ended June 30, 2023 was $2,264,027, compared to $2,273,700 for the same six-month period in 2022. In June 2023, Maris-Tech received grant approval from the Israeli Innovation Authority in the amount of $333,000 to support the first year development of an innovative system for onboard situation awareness for nanosatellite platforms. The funding will cover approximately 50% of the total budget for the first year of the project. \"Maris-Tech continues to develop pioneering solutions in new projects, along with expansion in growing markets and new territories, and important new international cooperation agreements. Looking forward, we are seeing increased interest in our innovative solutions and have received new orders as a result of our focused marketing efforts from both long-standing and new customers,\" said Israel Bar, Chief Executive Officer of Maris-Tech. See Maris-Tech's Report of Foreign Private Issuer on Form 6-K filed with the U.S. Securities and Exchange Commission (the “SEC”), on September 29, 2023. 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 manufacturers as well as defense, HLS, and communication companies. For more information, visit https://www.maris-tech.com/. Forward-Looking Statement Disclaimer This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the ...