Diamond Ultra integrates up to 12 high definition ("HD") cameras, providing 360° 3D and airborne threat protection for Armored Fighting Vehicles ("AFV"). Powered by two Hailo AI processors, it enables real-time monitoring and AI-based analysis of video streams. Rehovot, Israel, Sept. 30, 2024 (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 the addition of it ...

5G integrations for homeland security, safe cities, civil security and defense markets empowers nextgeneration video streaming technology Rehovot, Israel, Sept. 24, 2024 (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 its Amethyst edge computing video solution product line ("Amethyst"), now supports 5G capability, enabling ultra-speed and high data tran ...

The patented method reduces overhead data required in the forward error correction process based on specific characteristics of streamed media communication Rehovot, Israel, Sept. 03, 2024 (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 been granted a new patent from the United States Patent and Trademark Office for its innovative forward error c ...

Core Viewpoint - Maris-Tech Ltd. has reported significant financial growth for the first half of 2024, with revenues increasing by approximately 620% compared to the same period in 2023, indicating strong market demand and successful strategic initiatives [1][2]. Financial Performance - Revenues for the six months ended June 30, 2024, were approximately $3.4 million, an increase of approximately 620% compared to the same period in 2023 [1][2]. - Gross profit for the same period was approximately $1.9 million, a turnaround from a gross loss of approximately $0.2 million in 2023 [2]. - Net profit for the six months ended June 30, 2024, was approximately $132 thousand, compared to a net loss of approximately $2.3 million for the same period in 2023 [2]. - Net profit per ordinary share was $0.02, compared to a net loss per ordinary share of $0.29 in 2023 [3]. Working Capital and Backlog - Working capital as of June 30, 2024, was approximately $7.0 million, slightly down from approximately $7.3 million as of December 31, 2023 [3]. - The backlog as of June 30, 2024, was approximately $10.0 million, which increased to $10.5 million by August 28, 2024 [5]. Strategic Developments - The company has entered into a collaboration with Renesas Electronics Corporation, enhancing its position in the edge computing market [6]. - Maris-Tech secured multiple defense purchase orders, including significant contracts for armored vehicles and intelligence gathering applications, totaling over $1.7 million [6]. - The integration of firmware and hardware to support AI algorithms in collaboration with LightPath demonstrates the company's commitment to innovation in AI-embedded optical solutions [6]. Future Outlook - The company expects its existing cash, short-term bank deposits, and anticipated revenue from existing and new customers to be sufficient to fund operations for the next twelve months [4]. - Maris-Tech aims for accelerated growth by penetrating new markets and attracting a diverse customer base, supported by increased interest and new orders from customers [7].

Exhibit 99.1 MARIS-TECH LTD. INTERIM FINANCIAL STATEMENTS AS OF JUNE 30, 2024 UNAUDITED INDEX | --- | --- | |---------------------------------------------------------|------------------| | Balance Sheets | Page \n1 – 2 | | | | | Statements of Operations | 3 | | | | | Statements of Changes in Shareholders' Equity | 4 | | | | | Statements of Cash Flows | 5 – 6 | | | | | Notes to Interim Financial Statements | 7 | - - - - - - - - - - - - i - MARIS-TECH LTD. June 30, 2024 December 31, 2023 Unaudited ASSETS BALA ...

Driven by robust demand for the Company's defense and AI-powered solutions, gross revenues for the six-month period ended June 30, 2024, increased by approximately 630%-720% compared to the same six-month period in 2023. The Company expects to publish its financial statements for the six-month period ended June 30, 2024 on August 28, 2024. Rehovot, Israel, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) ("Maris-Tech" or the "Company"), a global leader in video and artificial intellig ...

The customized high-end system will be designed for integration on armored vehicles Rehovot, Israel, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) ("Maris-Tech" or the "Company"), a leading B2B provider of edge computing artificial intelligence (AI) accelerated video solutions for edge platforms, today announced that it received a significant order in the amount of $700,000 from a valued repeat customer for the development and production of a new system with AI-enabled video distri ...

The customized high-end system will be designed for integration on armored vehicles Rehovot, Israel, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) ("Maris-Tech" or the "Company"), a leading B2B provider of edge computing artificial intelligence (AI) accelerated video solutions for edge platforms, today announced that it received a significant order in the amount of $700,000 from a valued repeat customer for the development and production of a new system with AI-enabled video distri ...

Rehovot, Israel, July 24, 2024 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (NASDAQ:MTEK, MTEKW))), a global leader in artificial intelligence (AI) based edge computing and video solutions, proudly announced today the launch of the Uranus-based Diamond System, an innovative 360° 3D situational awareness solution specifically designed for Armored Fighting Vehicles (AFVs). This advanced product aims to set a high standard in defense technology and operational excellence, looking to redefine the next generation of situ ...

This marks the third repeat order from the defense industry customer for this solution, which enables armored fighting vehicle ("AFV") crews to detect and respond to dismounted threats The systems from the first and second orders are already operational, save lives, and are field-proven to the end customer's satisfaction. Rehovot, Israel, June 10, 2024 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK) ("Maris-Tech" or the "Company"), a B2B provider of edge computing artificial intelligence ("AI") accelerat ...