The Company noted that in most cases the final pricing for RAD products is determined by its network of over 50 dealers, and it is ultimately the responsibility of these dealers to apply and pass on any price increases to customers.
“The primary reason for these price increases is to ensure value pricing in the market. In other words, at these slightly increased prices we feel we still have tremendous cost advantages over manned guarding and traditional electronics solutions, and we want to be sure to collect the right amount of revenue for us,” said
“These price increases help us achieve previously stated gross revenue goals for FY24 in addition to giving us flexibility to manage inflationary pressures without grossly deviating from our target return-on-capital and gross profit margins,” said
The Company noted that ROAMEO v3 is expected to have a build cost of half of ROAMEO v2. Furthermore ROSA 3.2 should have cost savings of approximately 40% when compared to ROSA 3.0.
"It is worth mentioning that as production volume increases, we anticipate further cost efficiencies," stated Reinharz. "Our approach remains focused on achieving positive cash flow while maintaining a balance with necessary investments in research and development."
AITX through its subsidiary, Robotic Assistance Devices, Inc. (RAD), is redefining the
RAD has a prospective sales pipeline of over 35 Fortune 500 companies and numerous other client opportunities. RAD expects to continue to attract new business as it converts its existing sales opportunities into deployed clients generating a recurring revenue stream. Each Fortune 500 client has the potential of making numerous reorders over time.
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About
AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD, RAD-M and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. To learn more, visit www.aitx.ai, www.stevereinharz.com, www.radsecurity.com, www.radgroup.ai, and www.radlightmyway.com, or follow
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Artificial Intelligence Technology Solutions, Inc.
Artificial Intelligence Technology Solutions, Inc.
AITX and wholly owned subsidiary Robotic Assistance Devices (RAD) announce price changes effective March 1, 2023 on some of the Company’s security robotic solutions.
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