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Software Company infinitii ai Announces 27% Increase in Sales in Fiscal Year 2023
Tuesday, November 7, 2023Company Profile | Follow Company
Burnaby, BC, November 7, 2023--(T-Net)--infinitii ai (CSE:IAI), a leader AI-driven predictive analytics software for Smart City water and Smart Industry infrastructure applications that rely on time-series data, has released its annual financial and operational highlights for its fiscal year ended June 30, 2023.
infinitii ai provides environmental monitoring to many of the largest water infrastructure utilities in the U.S. and Canada, and says it has evolved into a machine learning software leader that serves water utility customers in cities and municipalities including Toronto, Seattle, Miami-Dade County, Montreal, Boston, Dallas, Region of Peel, York Region and Los Angeles County, among others.
The Company services customers via a trusted partner network that includes engineering and IT services companies like AECOM, Core & Main, Kerr Wood Leidal Ltd., K2 Geospatial and SCG Flowmetrix.
"In fiscal year 2023 infinitii ai secured the Company's largest-ever recurring revenue contracts exceeding $1M each with large-scale water treatment facilities based on robust adoption of machine learning software products launched last October," stated CEO Jean Charles Phaneuf. "This momentum drove a 27% increase in sales, and 33% growth in monthly average revenue from contracted and subscription customers. An impressive a 21% of recurring revenue was contributed by new customers."
"infinitii ai also experienced an exceptional overall customer renewal rate of 95%," continued Phaneuf. "We did this while controlling expenses and readying the Company for more product introductions in new vertical markets, which will help further increase revenue and drive continued growth."
Financial highlights and year-over-year results for fiscal year 2023
Operational highlights for fiscal year 2023
Moving forward for fiscal year 2024
About infinitii ai inc.
Trusted since 2014 to provide environmental monitoring to many of the largest water infrastructure utilities in the U.S. and Canada, infinitii ai has evolved into a machine learning software leader that serves water utility customers in cities and municipalities including Toronto, Seattle, Miami-Dade County, Montreal, Boston, Dallas, Region of Peel, York Region and Los Angeles County, among others.
The Company services customers via a trusted partner network that includes engineering and IT services companies like AECOM, Core & Main, Kerr Wood Leidal Ltd., K2 Geospatial and SCG Flowmetrix.
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 USGS, NOAA and weather forecasts - it doesn't matter where the data originates, infinitii ai transforms raw data into actionable information. Visit www.infinitii.ai to learn more.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
A complete set of June 30, 2023 Consolidated Financial Statements and Management's Discussion & Analysis has been filed at www.sedarplus.ca.
Forward-looking Statement The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release. [ MORE ] |
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infinitii ai (formerly Carl Data Solutions Inc.)
Vancouver (InfoTech)
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