Compliance with international manufacturing standards strengthens company's position into the American defense market Rehovot, Israel, April 08, 2025 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (NASDAQ:MTEK, MTEKW)) ("Maris-Tech" or the "Company"), a global leader in video and artificial intelligence ("AI")- based edge computing technology, today announced that it has successfully completed a pilot assembly of one of its core products at an American manufacturing facility in Michigan. The product passed the quality ...

Financial Data and Key Metrics Changes - Company reported a revenue growth of 50% in 2024, increasing from approximately $4.1 million in 2023 to about $6.1 million in 2024 [29] - Net loss decreased from $2.7 million in 2023 to $1.2 million in 2024, representing a reduction of over 54% [31] - Cash and cash equivalents at the end of December were approximately $2.3 million, sufficient to support growth and operations for the next 12 months [31] Business Line Data and Key Metrics Changes - The primary focus is on the defense market, with significant revenue generation expected from this sector in 2024 [10] - Company has equipped over 1,000 tanks with situation awareness technology, marking one of the largest deployments from a single company [18] - Solutions for drones are already mounted on thousands of drones worldwide, enhancing surveillance and target striking capabilities [17] Market Data and Key Metrics Changes - Company is expanding its presence in Western Europe, the U.K., North America, Eastern Europe, and India, where there is a clear demand for technology [14] - The worldwide edge computing market is growing rapidly, with increasing opportunities in modern warfare technologies such as drones and robots [11] Company Strategy and Development Direction - Company aims to provide final products and leverage strategic partnerships, particularly focusing on the U.S. and Indian markets [12] - Plans to develop miniature low-power solutions for drones, responding to the growing demand in the drone market [22] - Roadmap includes integrating Maris solutions with thermal cameras and developing unique AI-based detection solutions [26] Management's Comments on Operating Environment and Future Outlook - Management highlighted a strong revenue generation potential from the defense market due to global demand for advanced defense technologies [10] - The company is positioned as a leader in edge computing solutions, particularly in miniature low-power applications [12] - Management expressed confidence in the growth trajectory and market opportunities, despite the non-linear revenue patterns [35] Other Important Information - Company has established partnerships with key players in the industry, including Hailo for AI capabilities and various defense contractors [7][8] - Significant orders have been received for intelligence gathering and situation awareness platforms, indicating strong market demand [15] Q&A Session Summary Question: What is the status of the agreement with the Indian distributor? - Management confirmed the signing of an agreement with Thrikasa Technology, which is expected to open new opportunities in the defense market, and stated that there is no relation between this agreement and the recent drop in stock price [33] Question: Why was there a decrease in revenues between the second half of 2023 and the first half of 2024? - Management explained that revenues are not linear due to the project-based nature of the business, leading to fluctuations between periods [35] Question: What are the future expectations for the company? - Management indicated that future forecasts are not public information at this stage [36]

With its headquarters in Hyderabad, Thrikasa brings deep experience in delivering advanced technology to defense, aerospace, and critical infrastructure clients across the region. The collaboration will include joint marketing, exhibition participation and coordinated sales efforts, which Maris-Tech expects will allow it to better serve Indian customers with localized expertise and support. "We are excited to announce this agreement with Thrikasa, a highly respected participant in India's defense technology ...

Financial Performance - Revenues for the year ended December 31, 2024 were $6,078,953, an increase of $2,047,850 or 51% compared to $4,031,103 in 2023[264] - Gross profit for 2024 was $3,516,121, representing a gross profit rate of 57.8%, an increase of $1,588,725 or 82% from $1,927,396 in 2023[266] - Net loss for 2024 was $1,233,892, a decrease of $1,475,704 or 54% compared to a net loss of $2,709,596 in 2023[274] Cash Flow and Assets - Cash used in operating activities was $2,219,583 for 2024, a reduction from $3,871,157 in 2023[285] - As of December 31, 2024, the company had $2,335,232 in cash and cash equivalents and restricted deposits[283] Backlog and Future Revenues - The backlog as of January 1, 2025, was approximately $9.8 million, expected to contribute to future revenues[281] Expenses - Research and development expenses for 2024 were $927,048, a decrease of $127,847 or 12% from $1,054,895 in 2023[268] - Sales and marketing expenses increased by $48,646 or 6% to $923,439 in 2024 compared to $874,793 in 2023[269] - General and administrative expenses were $3,014,378 for 2024, an increase of $87,068 or 3% from $2,927,310 in 2023[270] Grants and Funding - As of December 31, 2024, the total amount of grants received was approximately $608,000, including accumulated interest[295] - In August 2022, a joint grant with Ben Gurion University was approved, totaling NIS 1,314,024 (approximately $360,303), covering 66% of the project's first-year budget[296] - In June 2023, a grant of NIS 1,209,797 (approximately $331,724) was approved for the first-year development of a nanosatellite platform, representing 50% of the total budget[297] - The total research and development income recorded for the year ended December 31, 2024, was NIS 1,152,294 (approximately $307,962)[299] - The grant for the second year of the joint project with Ben Gurion University was approved in November 2023, totaling NIS 935,544 (approximately $256,524)[298] Economic Conditions - The annual rate of inflation in Israel was 3.2% in 2024 and 3.0% in 2023, with the NIS revaluating against the U.S. dollar by approximately 0.6% in 2024 and 3.1% in 2023[543] Currency and Risk Management - The company does not currently hedge its foreign currency exchange risk but may consider formal currency hedging transactions in the future[541] - The company anticipates that a significant portion of its expenses will continue to be denominated in NIS, which may impact results if the U.S. dollar fluctuates significantly against the NIS[539] - The company does not believe that off-balance sheet arrangements will materially affect its financial condition or results of operations[299] Intellectual Property - The company has not utilized the intellectual property developed with governmental grants in any products since 2013[295] Credit Facilities - The company entered into a $4 million credit line agreement on March 26, 2025, secured by all assets[293]

The line of credit will allow the Company flexibility in taking advantage of strategic opportunities Rehovot, Israel, March 27, 2025 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the “Company”), a global leader in video and artificial intelligence (“AI”) based edge computing technology, today announced that it has secured a $4 million line of credit from a leading Israeli commercial bank for a period of 12 months from the date of the agreement. The line of credit is on accepted ...

Core Insights - Maris-Tech Ltd. will host a webinar on April 2, 2025, at 9:00 a.m. Eastern Time to discuss its 2024 financial results and provide updates on business operations and annual highlights [1][2] - The financial results for the year ended December 31, 2024, will be released on March 28, 2025, along with the filing of the Annual Report on Form 20-F with the SEC [1] Company Overview - Maris-Tech is a global leader in video and AI-based edge computing technology, specializing in intelligent video transmission solutions [3] - The company offers miniature, lightweight, and low-power products that provide high-performance capabilities, including raw data processing, seamless transfer, advanced image processing, and AI-driven analytics [3] - Founded by veterans of the Israeli technology sector, Maris-Tech serves leading manufacturers in defense, aerospace, intelligence gathering, homeland security, and communication industries [3] - The company is focused on driving innovation in mission-critical applications across both commercial and defense sectors [3]

Core Viewpoint - Maris-Tech Ltd. is participating in the Michigan Defense Expo (MDEX) 2025 to showcase its advanced video and AI-based edge computing technologies, aiming to strengthen its presence in the U.S. defense market [1][4]. Group 1: Event Participation - Maris-Tech will exhibit at Booth F3 alongside SIBAT, Israel's Ministry of Defense directorate for defense exports and international cooperation, from April 8 to 10, 2025 [1]. - The event provides an opportunity for face-to-face meetings with investors, prospective customers, and defense industry leaders [3]. Group 2: Technology Showcase - The company will showcase its advanced 360° situational awareness technology designed for Armored Fighting Vehicles (AFVs) [2]. - Maris-Tech will present its latest AI-driven video intelligence and edge computing solutions, which are designed to deliver low-latency, high-performance capabilities for defense applications [2]. Group 3: Strategic Expansion - The participation in MDEX is a key step in Maris-Tech's strategic expansion into the U.S. market, allowing direct connections with U.S. customers and partners [4]. - The company aims to demonstrate the value of its solutions and strengthen its presence in the defense sector [4]. Group 4: Company Overview - Maris-Tech is a global leader in video and AI-based edge computing technology, specializing in intelligent video transmission solutions [4]. - The company offers miniature, lightweight, and low-power products that deliver high-performance capabilities, including raw data processing, seamless transfer, advanced image processing, and AI-driven analytics [4].

The MARS RF delivers advanced intelligence gathering capabilities via ultra-light, low-power, H.265 DVR & streamer that it has designed for miniature drones Rehovot, Israel, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the “Company”), a global leader in video and artificial intelligence (“AI”) based edge computing technology, today announced that it has successfully completed the development of MARS RF, an advanced ultra-lightweight H.265 digital video recording ( ...

Fourth Consecutive Order Reinforces Maris-Tech’s Position as a Trusted Global Vendor Rehovot, Israel, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the “Company”), a global leader in video and artificial intelligence (“AI”) based edge computing technology, has secured a $400,000 repeat order for its Uranus-based situational awareness solution (“Uranus”) for armored fighting vehicles (“AFV”). This marks the fourth consecutive order from this customer in the defense ...

Core Viewpoint - Maris-Tech Ltd. has received a significant order for its Jupiter Nano system from a U.K. distributor, marking its entry into the Eastern European defense market and enhancing its global presence in video and AI-based edge computing solutions [1][3]. Group 1: Order Details - The order consists of dozens of Jupiter Nano units intended for integration into weapon systems for a defense project in Eastern Europe [2]. - Jupiter Nano features ultra-low latency streaming and robust network support, addressing specific challenges faced by the customer [2]. Group 2: Product Capabilities - Jupiter Nano is a dual-channel H.264/H.265 codec capable of 100 milliseconds ultra-low-latency streaming over both wired and wireless networks [3]. - The system includes functionalities for video and audio capture, encoding, decoding, transcoding, and raw data preprocessing, designed to meet high performance and reliability standards for modern defense applications [3]. Group 3: Market Expansion - The new order signifies a strong relationship with the U.K. distributor and reflects the growing demand for Jupiter Nano's advanced capabilities in the defense sector [3]. - The company views Eastern Europe as a new market opportunity that will facilitate its expansion in global defense and homeland security markets [3]. Group 4: Company Overview - Maris-Tech is recognized as a global leader in video and AI-based edge computing technology, providing intelligent video transmission solutions [4]. - The company serves various industries, including defense, aerospace, intelligence gathering, homeland security, and communications, focusing on innovation in mission-critical applications [4].