A Record Revenue Year for Maris-Tech.
11 Gennaio 2024 - 2:35PM
Maris-Tech Ltd. (Nasdaq: MTEK) ("Maris-Tech" or the "Company"), a
B2B provider of edge computing artificial intelligence (AI)
accelerated video solutions for edge platforms, today announced
preliminary and partial results for 2023.
The Company expects that its gross revenues for
the year ended December 31, 2023 will be approximately $4,000,000,
which is in the upper range of the previously announced revenue
forecast of between $3,700,000 and $4,200,000, and if achieved
would reflect an increase of approximately 60% over the Company’s
gross revenues for the year ended December 31, 2022.
In addition, as of December 31, 2023, the
Company had approximately $5,200,000 in cash and bank deposits
(including accrued interest).
This unaudited preliminary and partial financial
information regarding revenues for the year ended December 31,
2023, is based upon the Company’s estimates and is subject to
completion of our year-end financial results. Moreover, this
financial information has been prepared solely on the basis of
currently available information and is the responsibility of
management. The Company's independent registered public accounting
firm has not audited, reviewed or performed any procedures with
respect to such preliminary information or the accounting treatment
thereof and does not express an opinion or any other form of
assurance with respect thereto. This preliminary and partial
financial information is not a comprehensive statement of our
financial results for this period.
The Company expects to publish its full
financial statements for the year 2023 during March 2024.
"We are very pleased to conclude a highly
successful year in terms of new and repeat business, with 2023
marking the highest year of revenues in the Company's history. We
eagerly anticipate the new challenges that lie ahead in 2024." said
Israel Bar, Chief Executive Officer of Maris-Tech.
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,
we are using forward-looking statements when we discuss our
preliminary financial results for the year ending December 31,
2023, the Company's cash and bank deposits (including accrued
interest) as of December 31, 2023 and the demand for the Company's
defense and AI-powered solutions. Forward-looking statements are
neither historical facts nor assurances of future performance.
Instead, they are based only on our current beliefs, expectations
and assumptions regarding the future of our business, future plans
and strategies, projections, anticipated events and trends, the
economy and other future conditions. 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, 2022,
filed with the SEC on March 6, 2023, 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.
Investor Relations:Nir Bussy, CFOTel:
+972-72-2424022Nir@maris-tech.com
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