Business
Maris-Tech Ltd. Announces Preliminary Gross Revenues for the First Half of 2024 of Approximately $3,000,000-$3,400,000
Driven by robust demand for the Company's defense and AI-powered solutions, gross revenues for the six-month period ended June 30, 2024, increased by
About this update from Maris-tech Ltd.
[{"type":"text","content":"Driven by robust demand for the Company's defense and AI-powered solutions, gross revenues for the six-month period ended June 30, 2024, increased by approximately 630%-720% compared to the same six-month period in 2023. The Company expects to publish its financial statements for the six-month period ended June 30, 2024 on August 28, 2024. Rehovot, Israel, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (\"Maris-Tech\" or the \"Company\"), a global leader in video and artificial intelligence (AI) based Edge Computing technology, today announced its preliminary gross revenues for the six-month period ended June 30, 2024.The Company expects that its revenues for the six-month period ended June 30, 2024 will be approximately $3,00,000-$3,400,000, which if achieved would reflect an increase of approximately 630%-720%% over the Company’s gross revenues for the six-month period in 2023. The increase in revenues for the first half of 2024 reflects the successful implementation of Maris-Tech’s strategic initiatives and continues the strong growth trend seen in 2023 and 2022. The Company is advancing its strategy by expanding its products offerings of video and AI based Edge Computing solutions, including those for unmanned vehicles, situational awareness, and armored vehicles in the defense sector. This focused approach is driving Maris-Tech’s impressive performance and positioning the Company as a key player in the industry. \"We are very pleased with the anticipated results for the first half of 2024 and the fact that we are continuing the growth momentum from 2023 and 2022, while taking advantage of opportunities in the defense market\", said Israel Bar, Chief Executive Officer of Maris-Tech. This unaudited preliminary and partial financial information regarding gross revenues for the six-month period ended June 30, 2024, is based upon the Company’s estimates and is subject to completion of the Company's accounting review of the six-month period ended June 30, 2024 financial results. Moreover, this financial information has been prepared solely on the basis of currently available information and is the responsibility of management of the Company. The Company's independent registered public accounting firm has not audited, reviewed or performed any procedures with respect to such preliminary information or the ...