The following is a summary of the Maris-Tech Ltd. (MTEK) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Maris-Tech's 2023 revenue increased significantly to $4 million from $1 million in 2020, with the bulk generated in the latter half of 2023.

• The net loss was notably reduced to $2.7 million in 2023, from $3.7 million in the prior year.

• As of end 2023, the balance of trade receivables was at $3 million.

• The company reported a healthy backlog value of $10.8 million as of March 20, 2024.

• By March 21, 2024, the company held cash and cash equivalents valued at $4.75 million.

Business Progress:

• Maris-Tech has cemented its position as a leader in AI-based edge computing technology with collaborations spanning numerous sectors.

• The company's technology is deployed in thousands of drones globally and domestically within Israel.

• Substantial deployment of the company's situational awareness solutions has been seen in armored vehicles.

• Successful collaboration on AI-based intelligence gathering with intelligence agencies is underway.

• Maris-Tech equipment has been utilized in satellites, military applications, and various aircraft.

• Recently, Maris-Tech announced a key partnership with Renesas, signaling market validation of its technology.

• With projected revenues of $7 million for 2024, the company forecasts continued business growth.

More details: Maris-Tech IR

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