Thursday, September 14, 2017 9:03:03 AM
RAD is preparing to ramp up production as its prospective clients are preparing their next year budgets to include RAD's autonomous security robots and as robot reservations are converted into robot deployments.
RAD is preparing for the following expected deployment of robots:
20 robots by the end of calendar 2017
50 robots by the end of the first quarter of 2018
90 robots by the end of the second quarter of 2018
160 robots by the end of the third quarter of 2018
240 robots by the end of the fourth quarter of 2018
RAD'S business model is to rent out robots to its clients over a three-year period thereby always retaining ownership of its robots, securing its intellectual property and providing a model for regular service, software and hardware updates.
Each robot brings in approximately $110,000 of revenue over the life of the contract which translates to approximately $36,000 per annum.
RAD expects to have 20 robots deployed by the end of 2017 and a total of 560 robots deployed by the end of 2018 for an expected monthly revenue run rate at the end of 2018 of over $1,600,000 or over $20,000,000 of recurring revenue per year.
"Demand for our robots has been very encouraging," said Steve Reinharz, President and CEO of RAD. "And we are preparing for the swift ramp up of deployments over the next 15 months."
RAD has commenced to deploy robots to end users. To date RAD has commitments for 62 robots for total contract values of approximately $6 million.
RAD currently has signed agreements for 2 POC's with major companies.
RAD currently has a sales pipeline of over 50 Fortune 500 companies and over 25 qualified dealers and distributors that have a combined customer base of more than 35,000 end user corporations.
The company may post important information about its subsidiary RAD on its website at www.Robotic AssistanceDevices.com and through tweets from RAD President and CEO Steve Reinharz (https://twitter.com/SteveReinharz)
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This release contains "forward-looking statements"
Recent AITX News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/19/2024 10:05:22 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/16/2024 10:07:07 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/04/2024 10:06:29 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/03/2024 10:03:51 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/26/2024 10:03:30 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/21/2024 10:03:32 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/19/2024 10:08:57 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/15/2024 10:10:43 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/14/2024 10:10:47 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/13/2024 10:03:44 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/12/2024 10:03:06 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/07/2024 10:03:34 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/05/2024 10:04:05 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/01/2024 10:16:27 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/30/2024 10:10:15 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/23/2024 10:04:54 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/19/2024 10:05:21 AM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 07/18/2024 08:22:26 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/16/2024 10:03:31 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/15/2024 08:00:52 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/15/2024 10:07:42 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/11/2024 10:04:29 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/10/2024 10:11:24 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/17/2024 10:05:48 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/13/2024 10:02:33 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM