AITX Reports 26% Revenue Growth to $7.75 Million, Net Loss Reduces to $14.51 Million

Artificial Intelligence Technology Solutions Inc. (AITX) reported a total revenue of $7.75 million for the fiscal year ending February 28, 2026, marking a 26% increase from $6.13 million in the previous fiscal year. The growth was primarily driven by a 37% rise in device rental activities, which generated $6.92 million, while direct sales of goods and services decreased by 24% to $825,000. The company's gross profit also improved significantly, reaching $5.53 million, up 48% from $3.74 million in the prior year, resulting in a gross profit margin of 71%, compared to 61% the previous year.

Despite the increase in revenue, AITX reported a net loss of $14.51 million, a reduction from the $18.94 million loss recorded in the previous year. This improvement in net loss was attributed to higher revenues and gross profit, alongside a decrease in operating expenses, which fell slightly to $17.48 million from $17.69 million. The company’s operating expenses included a 19% increase in research and development costs, reflecting ongoing investments in product development and software solutions.

Strategically, AITX has focused on expanding its product offerings and market presence. The company has deployed approximately 1,000 devices across the United States and Canada and is in the early stages of entering the European market. AITX plans to establish a new subsidiary, Robotic Assistance Devices Europe, in fiscal 2027 to support its growth in the European Union. The company has also made significant investments in its mobile autonomous platform, ROAMEO, which began commercial deployment in May 2026.

As of February 28, 2026, AITX had approximately 135 employees and a growing dealer network of over 100 authorized dealers across North America and Europe. The company continues to face challenges, including a substantial accumulated deficit of $171 million and negative working capital of $17 million. Management has expressed concerns about the company's ability to continue as a going concern without additional capital, as it has relied heavily on external financing to fund operations and product development.

Looking ahead, AITX aims to leverage its Solutions-as-a-Service model to enhance revenue stability and growth. The company anticipates that its recurring revenue from subscription contracts will support positive cash flow operations in the future. However, management cautions that achieving profitability will depend on various factors, including market conditions, customer adoption rates, and the successful execution of its strategic initiatives.