Artificial Intelligence Technology Solutions
John B. Crawford founded Artificial Intelligence Technology Solutions (AITX) on March 25, 2010. The company’s headquarters are in Ferndale, Michigan. At present, it provides artificial intelligence (AI) solutions. In addition to being compatible with multi-purpose hardware, it can easily integrate with bespoke applications and cloud services based on artificial intelligence (AI).
Moreover, they are involved in the automation and integration of security, concierge, and operational tasks.
AITX’s subsidiaries include Robotic Assistance Devices (RAD), Robotic Assistance Devices Group, Robotic Assistance Devices Mobile, On the Move Experience, and OMV Transports. ROAMEO is one of AITX’s most crucial security robots.
Recent Financial Reports for AITX Stock
The company’s net income for 2020 was minus $5.9 million, a reduction from the previous year’s net loss of $6.21 million.
A net loss of $35.9 million occurred in the corporation’s first quarter of 2021, followed by a $4.8 million loss in the second quarter and a $7 million loss in the third quarter. Additionally, the organization could have had better quarterly sales data.
In the first quarter of 2021, the firm generated $560,000 in sales. The revenues for the second and third quarters of 2021 were $141,000 and $373,000, respectively.
It is evident from the company’s third-quarter balance sheet for 2021 that the company’s financial health is unusual. Furthermore, the company’s assets were inferior to its obligations. According to financial statistics, the company had $9.27 million in assets and $25.37 million in liabilities. The company had a debt-to-asset ratio of more than 270%.
In October, AITX reported solid financial results. The company’s subscription income rose by 85% to over $228k. Furthermore, it increased its gross profit margin to 87%. Notably, it continued to issue shares, diluting its shareholders. As of October 21, the company had made $4 million in share profits. By year’s end, it expects to receive between $4 million and $6 million more.
An AITX subsidiary, Robotic Assistance Devices, has recently received numerous orders for 33 security robots. These include 28 ROSA and five TOM robots, which will be provided to four customers. Uncertain how much of these funds will go directly to AITX.
Predictions for AITX stock in 2023
For the past few days, AITX stock prices have been trading sideways. Despite the lack of volatility, the stock price has stayed incredibly low with virtually no discernible rise, even though the market has been optimistic for the past four days. Therefore, AITX stock prices are selling at a low price of $0.0164 today, a long way from 2018 when the company was trading at over $7,000 per share.
Recently, shares of AITX have fallen significantly due to corporate concerns, dropping below the crucial support level of $0.0092, which was the lowest level on May 11.
Predictions for AITX stock in 2025
According to my estimates, AITX stock prices will exceed $0.1 per share by 2025, representing an average 41% growth rate. Even though my assessment is cautious because previous price action history has shown that AITX stock prices may climb at this pace in less than a week, I anticipate that AITX stock prices will continue to rise steadily between 2023 and 2025. AITX stock may still trade between $0.50 and $1.00 by 2025.
Stock Prediction for 2030 for AITX Stock
By 2030 AITX stock will reach $20. This is a conservative estimate, and there is a possibility that costs might get $20.