Maris-Tech projects 75% revenue jump in 2024 on defense, AI demand

REHOVOT, Israel – Maris-Tech Ltd. (NASDAQ:MTEK), an edge computing AI video solutions provider, anticipates a significant revenue increase for the fiscal year ending December 31, 2024. The company expects gross revenues to reach at least $7M, marking a substantial rise of approximately 75% compared to its preliminary gross revenue projections for the previous year, which were estimated at $4M.

This optimistic revenue projection for 2024 is supported by the company’s current and expected orders, including those placed in previous years, and a strong ongoing demand for its defense and AI-powered solutions. Maris-Tech’s Chief Executive Officer, Israel Bar, expressed confidence in the company’s growth trajectory, citing a positive trend in demand and validation for their innovative technologies.

It is important to note that these projections are based on the company’s estimates and have not been audited or reviewed by its independent registered public accounting firm. As such, no form of assurance has been expressed regarding these preliminary projections, and they should not be seen as a comprehensive statement of the company’s financial results for the period.

The forward-looking statements included in the company’s press release highlight plans and expectations for the future, subject to uncertainties, risks, and changes that are difficult to predict. Factors that could influence actual results include the company’s ability to market its products effectively, customer acceptance, operational costs, competition, and regulatory compliance.

This projection is based on a press release statement and has not been independently verified.

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