Maris-Tech Ltd. (NASDAQ: MTEK) shares moved into the green Monday. The Israeli-based 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.
Said CEO Israel Barm “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.
MTEK shares acquired six cents, or 3.9%, to $1.69.
