Artificial Intelligence Technology Solutions, Inc. (AITX) announced on December 5, 2024, that it is on track to achieve an annual recurring revenue (ARR) run rate of $10 million by the end of its current fiscal year 2025, which concludes on February 28, 2025. This target represents a remarkable 3x growth from the company’s $3.4 million ARR at the close of FY2024.
During Q3 FY2025, which ended November 30, 2024, RAD added $105,000 in recurring monthly revenue (RMR), bolstering its momentum towards this financial milestone. The company also reported that its sales funnel of anticipated contracts and high-probability sale opportunities now totals $1.8 million in potential RMR, indicating heightened demand for its solutions.
CEO Steve Reinharz attributed this growth to the value RAD brings to its clients and the continued invention of new solutions like RADCam and SARA. The company remains focused on maintaining its growth rate despite the Law of Large Numbers, driven by its core product set including RIO, ROSA, and AVA.
AITX emphasizes that recurring monthly revenue (RMR) and annual recurring revenue (ARR) are vital indicators of financial health and stability, providing a strong foundation for sustainable growth and strategic investments. The company remains committed to achieving operational profitability while disrupting the security technology and property management landscapes.
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