Latest news with #Maris-Tech
Yahoo
a day ago
- Business
- Yahoo
Maris-Tech Expands Asia-Pacific Reach with New Distribution Agreement in Singapore
Distribution Agreement with Precision Technologies Strengthens Presence in Key Defense and Security Markets Rehovot, Israel, July 01, 2025 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) ('Maris-Tech' or the 'Company'), a global leader in video and artificial intelligence ('AI')- based edge computing technology, today announced that it has entered into a distribution agreement with Precision Technologies Pte Ltd. ('Precision Technologies'), a leading Singapore-based supplier of cutting-edge defense and security solutions. The agreement marks an important milestone for Maris-Tech as it continues to expand its global footprint by strengthening its presence in the Asia-Pacific region. Under the terms of the agreement, Precision Technologies will promote and distribute the Company's full range of video-based edge AI computing solutions, serving key markets including defense, homeland security, aerospace, and commercial sectors throughout Singapore. 'Collaborating with a respected and established player like Precision Technologies is an important milestone for Maris-Tech,' said Israel Bar, Chief Executive Officer of Maris-Tech. 'The Asia-Pacific region is a key growth area, and we believe that this collaboration represents a strong vote of confidence in our technology and products. We believe that customers in this region will greatly benefit from our advanced solutions for AI-powered video intelligence and edge computing.' About Maris-Tech Ltd. Maris-Tech is a global leader in video and AI-based edge computing technology, pioneering intelligent video transmission solutions that conquer complex encoding-decoding challenges. Our miniature, lightweight, and low-power products deliver high-performance capabilities, including raw data processing, seamless transfer, advanced image processing, and AI-driven analytics. Founded by Israeli technology sector veterans, Maris-Tech serves leading manufacturers worldwide in defense, aerospace, Intelligence gathering, homeland security (HLS), and communication industries. We're pushing the boundaries of video transmission and edge computing, driving innovation in mission-critical applications across commercial and defense sectors. For more information, visit Forward-Looking Statement Disclaimer This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the 'safe harbor' created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as 'believe,' 'expect',' 'may', 'should,' 'could,' 'seek,' 'intend,' 'plan,' 'goal,' 'estimate,' 'anticipate' or other comparable terms. For example, the Company is using forward-looking statements when it is discussing the Company's growth strategy and presence in the Asia-Pacific region; potential benefits of the collaboration between the Company and Precision Technologies; and that customers in the Asia-Pacific region will greatly benefit from the Company's advanced solutions for AI-powered video intelligence and edge computing. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: its ability to successfully market its products and services, including in the United States; the acceptance of its products and services by customers; its continued ability to pay operating costs and ability to meet demand for its products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; its ability to successfully develop new products and services; its success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; its ability to comply with applicable regulations; and the other risks and uncertainties described in the Annual Report on Form 20-F for the year ended December 31, 2024, filed with the SEC on March 28, 2025, and its other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. Investor Relations: Nir Bussy, CFOTel: +972-72-2424022Nir@
Yahoo
31-03-2025
- Business
- Yahoo
Maris-Tech Announces Full Year 2024 Financial Results and Reports Record 51% Revenue Growth for 2024 with Improved Profitability
Revenues Increased by 51%, Gross Profit Increased by 82% and Net Loss Reduced by 54% for the Year Ended December 31, 2024 Rehovot, Israel, March 31, 2025 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) ('Maris-Tech' or the 'Company'), a global leader in video and artificial intelligence ('AI')- based edge computing technology, today announced its financial results for the full year ended December 31, 2024. The Company reported record revenues of approximately $6.1 million, an increase of 51% compared to approximately $4 million for the year ended December 31, 2023. Gross profit for the year ended December 31, 2024, grew by 82%, reaching approximately $3.5 million compared to approximately $1.9 million for the year ended December 31, 2023. Mr. Israel Bar, Chief Executive Officer of Maris-Tech, said, 'In 2024, we focused on new developments, strategic partnerships and expanding our presence in key markets. We strengthened our position in the defense sector, particularly in the miniature drone and unmanned aerial vehicles industry, and in armored vehicles and tanks. Among our key achievements, we launched the Uranus Drones – a miniature codec tailored for the drone industry – and introduced the Diamond System, which is already deployed in the battlefield, providing comprehensive protection for thousands of vehicles. We also increased our investment in marketing and business development in the United States, which has contributed to our accelerated growth.' Financial Highlights ● Revenues: Revenues for the year ended December 31, 2024, were approximately $6.1 million, an increase of 51% compared to approximately $4 million for the year ended December 31, 2023. ● Gross Profit: Gross profit for the year ended December 31, 2024, was approximately $3.5 million, an increase of 82% compared to approximately $1.9 million for the year ended December 31, 2023. ● Net Loss: Net loss for the year ended December 31, 2024, was approximately $1.2 million, a decrease of 54% compared to approximately $2.7 million for the year ended December 31, 2023. ● Net Loss per Ordinary Share: Net loss per ordinary share for the year ended December 31, 2024, was approximately $0.16, a decrease of 53% compared to approximately $0.34 for the year ended December 31, 2023. ● Cash, Cash Equivalents and Short-Term Bank Deposits: Cash and cash equivalents and short-term bank deposits as of December 31, 2024, were approximately $2.3 million, compared to approximately $5.2 million as of December 31, 2023. ● Trade Receivables Balance: Increased to approximately $3.5 million as of December 31, 2024, compared to approximately $3.0 million as of December 31, 2023. We expect that our existing cash and cash equivalents as of December 31, 2024, along with anticipated revenue from existing customers pursuant to existing orders and the availability of a $4 million line of credit, will be sufficient to fund our operations and meet our obligations for the next twelve months. Year Ended 2024 Highlights We strengthened our position in the defense and homeland security ("HLS') markets, and accelerated revenue growth: ● In January 2024, we secured a new purchase order for approximately $590,000 for an AI-based HLS and Defense Surveillance Application based on the Jupiter AI platform; ● In February 2024, we received a purchase order for approximately $190,000 for a miniature low-power solution to enhance gun sight capabilities in tactical applications; ● In February 2024, we received a repeat purchase order for approximately $600,000 with an option to increase the purchase order to approximately $730,000 to provide armored and autonomous vehicles with enhanced situational awareness; ● In April 2024, we secured a new purchase order for $415,800 for a defense solution based on our Jupiter Nano platform; ● In April 2024, we received a new purchase order for approximately $110,000 for a novel miniature intelligence-gathering product based on the Maris platform technology; ● In June 2024, we received a new purchase order for $225,000 from Aero Sol military drone manufacturer for our Uranus-Drones solution; ● In June 2024, we secured a repeat purchase order for approximately $957,000 for our situational awareness solution for Armored Vehicles; ● In August 2024, we secured a $700,000 purchase order for innovative AI-Based Video Distribution Solution; and ● In December 2024, we secured a $1 million purchase order from a U.S. repeat customer in the HLS industry for our advanced Jupiter-based video solution. Strategic Partnerships ● In March 2024, we entered into a collaboration agreement with Renesas Electronics Corporation, one of the world's largest semiconductor manufacturers, and we were accepted into the Renesas' Preferred Partner Program; and ● In June 2024, we entered into a collaboration agreement with LightPath Technologies, Inc. (Nasdaq: LPTH) ("LightPath") for AI-Ready Infrared Cameras, providing AI accelerated hardware, software and algorithms for LightPath's infrared cameras. New Products & Developments ● In February 2024, we launched Emerald, a Jupiter-based multiple-channel high-definition and standard-definition raw video recording platform especially designed for defense armored vehicles; ● In July 2024, we unveiled Diamond – a revolutionary defense 360° 3D Situational Awareness Solution for armored fighting vehicles; ● In September 2024, we announced that our Amethyst Edge Computing video solution now supports 5G, enabling ultra-speed and high data transfer; ● In September 2024, we enhanced our Diamond platform ability to combat airborne threats with Diamond Ultra; and ● In December 2024, we completed the development of Uranus-Drones technology, which is now available for large-scale delivery. Expanded Global Awareness Maris-Tech strengthened our presence in the U.S. with the engagement of new sales representatives and increased participation in international defense and technology exhibitions, showcasing the Company's cutting-edge solutions to a global audience. Backlog and Outlook Our backlog as of January 1, 2025, was approximately $9.8 million, which represents an increase from our backlog as of January 1, 2024, of approximately $9.76 million. Our backlog, as of March 28, 2025, was approximately $9.9 million. We define backlog as the accumulation of all pending orders with a later fulfillment date for which revenue has not been recognized, and we consider valid. The backlog consists of executed purchase orders from new customers and existing customers with which we have had long standing relationships and from governmental agencies. Mr. Bar concluded, 'We remain committed to driving long-term growth by focusing on strategic innovation, expanding our market presence, and strengthening our relationships with global defense and homeland security customers. We believe that our pipeline of opportunities and strong order backlog position us well for continued growth in 2025 and beyond.' About Maris-Tech Ltd. Maris-Tech is a global leader in video and AI-based edge computing technology, pioneering intelligent video transmission solutions that conquer complex encoding-decoding challenges. Our miniature, lightweight, and low-power products deliver high-performance capabilities, including raw data processing, seamless transfer, advanced image processing, and AI-driven analytics. Founded by Israeli technology sector veterans, Maris-Tech serves leading manufacturers worldwide in defense, aerospace, Intelligence gathering, homeland security (HLS), and communication industries. We're pushing the boundaries of video transmission and edge computing, driving innovation in mission-critical applications across commercial and defense sectors. For more information, visit Forward-Looking Statement Disclaimer This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the 'safe harbor' created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as 'believe,' 'expect',' 'may', 'should,' 'could,' 'seek,' 'intend,' 'plan,' 'goal,' 'estimate,' 'anticipate' or other comparable terms. For example, the Company is using forward-looking statements when it is discussing: its growth in 2025 and beyond; expanding its market presence; strengthening its relationships with global defense and homeland security customers; future pipeline and opportunities; its backlog and the anticipated fulfillment of that backlog; the demand for its defense and AI-powered solutions; expanding its presence in key markets; and its position in the defense sector, particularly in the miniature drone and unmanned aerial vehicles industry, and in armored vehicles and tanks. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the Company's ability to successfully market its products and services, including in the United States; the acceptance of its products and services by customers; its continued ability to pay operating costs and ability to meet demand for its products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; its ability to successfully develop new products and services; its success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; its ability to comply with applicable regulations; and the other risks and uncertainties described in the Company's Annual Report on Form 20-F for the year ended December 31, 2024, filed with the SEC on March 28, 2025, and its other filings with the SEC. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. Investor Relations: Nir Bussy, CFO Tel: +972-72-2424022 Nir@
Associated Press
21-03-2025
- Business
- Associated Press
Maris-Tech to Showcase Advanced 360° Situational Awareness and AI-Driven Video Solutions at MDEX 2025
Meet the Maris-Tech team at SIBAT Booth F3 and experience cutting-edge technology in tactical video and AI solutions Rehovot, Israel, March 21, 2025 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) ('Maris-Tech' or the 'Company'), a global leader in video and artificial intelligence ('AI')-based edge computing technology, today announced that it will be participating in the Michigan Defense Expo (MDEX) 2025. The event will take place at the Macomb Sports & Expo Center, P -Building, Michigan, U.S., from April 8 to 10, 2025. Maris-Tech will exhibit at Booth F3 alongside SIBAT, Israel's Ministry of Defense directorate for defense exports and international cooperation. Maris-Tech will showcase its advanced 360° situational awareness technology designed for Armored Fighting Vehicles (AFVs). The Company will also present its latest AI-driven video intelligence and edge computing solutions, which are designed to deliver low-latency, high-performance capabilities for defense applications. The Maris-Tech U.S. sales team will be present at Booth F3, providing the opportunity for face-to-face meetings with investors, prospective customers, and defense industry leaders. Visitors will have the chance to experience Maris-Tech's solutions firsthand and explore how the Company's innovative AI and video intelligence technologies are driving the future of defense operations. 'Participating in MDEX is a key step in Maris-Tech's strategic expansion into the U.S. market,' said Israel Bar, Chief Executive Officer of Maris-Tech. 'This event allows us to connect with U.S. customers and partners directly, demonstrate the value of our solutions and strengthen our presence in the defense sector.' About Maris-Tech Ltd. Maris-Tech is a global leader in video and AI-based edge computing technology, pioneering intelligent video transmission solutions that conquer complex encoding-decoding challenges. Our miniature, lightweight, and low-power products deliver high-performance capabilities, including raw data processing, seamless transfer, advanced image processing, and AI-driven analytics. Founded by Israeli technology sector veterans, Maris-Tech serves leading manufacturers worldwide in defense, aerospace, Intelligence gathering, homeland security (HLS), and communication industries. We're pushing the boundaries of video transmission and edge computing, driving innovation in mission-critical applications across commercial and defense sectors. For more information, visit Forward-Looking Statement Disclaimer This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the 'safe harbor' created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as 'believe,' 'expect',' 'may', 'should,' 'could,' 'seek,' 'intend,' 'plan,' 'goal,' 'estimate,' 'anticipate' or other comparable terms. For example, the Company is using forward-looking statements when it is discussing: the Company's expansion into the U.S. market, the value of the Company's solutions and its ability to strengthen its presence in the defense sector. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully market our products and services, including in the United States; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in the Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on March 21, 2024, and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. Nir Bussy, CFO
Yahoo
11-02-2025
- Business
- Yahoo
Maris-Tech And 2 Other US Penny Stocks To Watch In Your Portfolio
U.S. stocks have shown mixed performance recently as investors navigate the implications of newly enacted tariffs on steel and aluminum imports, along with ongoing economic indicators like Treasury yields and Federal Reserve policies. Despite market fluctuations, penny stocks remain an intriguing area for investors due to their potential for growth when backed by robust financials. While often associated with smaller or newer companies, these stocks can offer a blend of affordability and growth potential, making them worth a closer look in today's diverse investment landscape. Name Share Price Market Cap Financial Health Rating BAB (OTCPK:BABB) $0.896 $6.46M ★★★★★★ QuantaSing Group (NasdaqGM:QSG) $3.08 $125.23M ★★★★★★ ZTEST Electronics (OTCPK:ZTST.F) $0.25 $10.23M ★★★★★★ Imperial Petroleum (NasdaqCM:IMPP) $2.95 $89.18M ★★★★★★ Permianville Royalty Trust (NYSE:PVL) $1.42 $46.86M ★★★★★★ Golden Growers Cooperative (OTCPK:GGRO.U) $4.50 $67.38M ★★★★★★ BTCS (NasdaqCM:BTCS) $2.78 $46.67M ★★★★★★ Smith Micro Software (NasdaqCM:SMSI) $1.44 $25.01M ★★★★★☆ CBAK Energy Technology (NasdaqCM:CBAT) $0.8975 $79.45M ★★★★★☆ Safe Bulkers (NYSE:SB) $3.64 $384.4M ★★★★☆☆ Click here to see the full list of 712 stocks from our US Penny Stocks screener. Here we highlight a subset of our preferred stocks from the screener. Simply Wall St Financial Health Rating: ★★★★★☆ Overview: Maris-Tech Ltd. designs and manufactures digital video and audio hardware and software solutions for various security markets globally, with a market cap of $24.58 million. Operations: The company generates revenue of $6.97 million from its audio and video product offerings. Market Cap: $24.58M Maris-Tech Ltd., with a market cap of US$24.58 million and revenue of US$6.97 million, has recently expanded its presence in the defense sector through significant orders for its Jupiter Nano system and Uranus-Drones technology. Despite being unprofitable with a negative return on equity, the company maintains more cash than debt and covers both short- and long-term liabilities with its assets. Maris-Tech's strategic moves into Eastern Europe and the U.S. highlight its growing influence in video and AI edge computing solutions, although it faces challenges such as high share price volatility and an inexperienced board of directors. Unlock comprehensive insights into our analysis of Maris-Tech stock in this financial health report. Examine Maris-Tech's past performance report to understand how it has performed in prior years. Simply Wall St Financial Health Rating: ★★★★★★ Overview: Perfect Corp. is an artificial intelligence software as a service company offering AI and AR-powered solutions for the beauty, fashion, and skincare industries globally, with a market cap of $208.79 million. Operations: The company generates $58.45 million in revenue from its Internet Software & Services segment. Market Cap: $208.79M Perfect Corp., with a market cap of US$208.79 million and revenue of US$58.45 million, has recently advanced its AI-driven offerings in the beauty sector, including partnerships like RenewMD Wellness adopting its Skincare Pro Software. The company is debt-free and has become profitable over the past year, though it exhibits high share price volatility and low return on equity at 3.7%. Despite an inexperienced board, Perfect Corp.'s innovative product launches such as the AI Frizzy Hair Analyzer position it well for growth in personalized beauty solutions, although challenges remain with maintaining stable earnings growth compared to industry standards. Click here and access our complete financial health analysis report to understand the dynamics of Perfect. Explore Perfect's analyst forecasts in our growth report. Simply Wall St Financial Health Rating: ★★★★★☆ Overview: NameSilo Technologies Corp. operates internationally through its subsidiaries, offering domain name registration services across various regions including Canada, the United States, and Asia, with a market cap of $36.58 million. Operations: The company generates CA$52.92 million from its domain registration and related services segment. Market Cap: $36.58M NameSilo Technologies Corp., with a market cap of CA$36.58 million, has shown financial improvement by becoming profitable over the past year, reporting net income of CA$1.22 million for the first nine months of 2024 compared to a loss previously. The company's revenue from domain registration services reached CA$40.33 million during this period, indicating growth from the prior year. Despite its outstanding return on equity at 50.5%, this figure is influenced by high debt levels, though debt is well-covered by operating cash flow and interest payments are adequately managed with EBIT coverage at 5.4 times interest expenses. Get an in-depth perspective on NameSilo Technologies' performance by reading our balance sheet health report here. Gain insights into NameSilo Technologies' historical outcomes by reviewing our past performance report. Take a closer look at our US Penny Stocks list of 712 companies by clicking here. Invested in any of these stocks? Simplify your portfolio management with Simply Wall St and stay ahead with our alerts for any critical updates on your stocks. Take control of your financial future using Simply Wall St, offering free, in-depth knowledge of international markets to every investor. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Jump on the AI train with fast growing tech companies forging a new era of innovation. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqCM:MTEK NYSE:PERF and OTCPK:URLO.F. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
