45% increase in monthly revenue from contracted and subscription customers. 17.5% decrease in expenses compared to the first quarter of last year.
Trusted since 2014 to provide environmental monitoring to many of the largest water infrastructure utilities in the
"infinitii ai continued to make progress in Q1, with a 45% increase in monthly revenue from contracted and subscription customers. This occurred with a 17.5% decrease in expenses compared to the first quarter of last year," said CEO
- The 45% increase applies to revenue from annual renewable contract customers plus ongoing subscription customers at the end of Q1 – 2023 compared to the end of Q1 – 2022
- For the period ended
September 30, 2022 , the Company generated$426,026 in revenues (2021 -$380,970 , including$60,000 of non-software sales revenue related to the commencement of theDigital Supercluster Fresh Water Data Commons project). - Expenses for the three-month period ended
September 30, 2022 of$883,330 were lower than the comparable period's operating expenditures of$1,070,303 .
- Throughout the period ended
September 30, 2022 , the Company finalized its rebranding initiative for anOct. 4 announcement, changing its name fromCarl Data Solutions Inc. to infinitii ai inc. The rebranding initiative involved updates to all corporate sales collaterals and digital assets including website and social media sites, plus a new stock ticker symbol – iai on the CSE – that took effect onOct. 7 . - Throughout the period ended
September 30, 2022 , the Company also finalized a product management initiative for anOct. 6 announcement, moving from a single product offering to a total of 15 newly branded and clearly differentiated products in its portfolio. - More revenue per customer sale, more interest and attention from reseller partners, and higher overall growth for the Company is the goal of these new branding and product initiatives.
Trusted since 2014 to provide environmental monitoring to many of the largest water infrastructure utilities in the
infinitii ai software performs real-time analysis, checks flow monitoring status, sets alarms through a single interface, accepts all types of data from any source and offers predictive (what will happen) and prescriptive (what should happen) analytics. Whether it's real-time, historic, wireless, satellite, SCADA or public data sets including
The Canadian Securities Exchange (operated by
This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information is based on certain key expectations and assumptions made by the management of infinitii ai, including the expectation of future revenue growth. Although infinitii ai believes that the expectations and assumptions upon which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because infinitii ai can provide no assurance that they will prove to be correct. Any forward-looking statements contained in this press release are made as of the date of this press release. infinitii ai disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.
SOURCE infinitii ai inc.
© Canada Newswire, source