Maris-Tech Ltd. Q4 FY2023 earnings call

• Maris is involved in AI-based edge computing for various applications including defense (drones, armored vehicles, missiles), homeland security, space (Beresheet 1, Beresheet 2), smart city, and commercial uses (drone delivery, smart retail). - Expanding market presence globally, with activities in Far East, India, Europe, and efforts to access the U.S. market. - Partnership with Renesas announced, indicating recognition of Maris's technology by market leaders.

Revenues have increased since 2020 from $1 million to $4 million in 2023. The second half of 2023 had approximately $3.6 million in revenues. Projections for 2024 are approximately $7 million based on backlog. Backlog has increased from $600,000 to approximately $10.8 million as of March 20, 2024. Revenue in 2023 was $4 million compared to $2.5 million in 2022. Net loss in 2023 was approximately $2.7 million compared to $3.7 million in 2022. Trade receivable balance as of December 31, 2023 was approximately $3 million, and cash, cash equivalents, and bank deposit as of December 31, 2023 were approximately $5.2 million, with $4.75 million as of March 21, 2024.

• Projections for 2024 revenues are approximately $7 million based on backlog. - Backlog has increased to approximately $10.8 million as of March 20, 2024.

Q: Could you talk a little more about the importance of real-time edge AI video analysis for your customers, and the challenges of doing that analysis with other technologies of video processing, which means on the cloud?

A: The main reason for edge computing and implementing AI at the edge is due to wireless communication limitations, so remote platforms need AI capabilities at the edge to make autonomous decisions. For example, drones need to detect and classify objects at the edge.

Q: Do you think that edge AI devices will be complement to other AI video processing solutions or an alternative to those systems?

A: Edge AI devices are complementary as they provide computing capabilities at the edge, which is necessary for autonomous decision-making on remote platforms.

Q: Can you discuss the use of AI in use case markets?

A: Developing AI capabilities in space for situational awareness with U.S. partners, using Uranus platforms to detect threats in space, avoid collisions, and enable accurate landing.

Q: If we are able to announce all the major deals given sensitive political situation about Gaza War.

A: Can announce deals without going into much detail, and will announce significant ones if applicable.