Financial Performance - Second quarter revenue increased by 59% year over year, reaching $2.1 million compared to $1.3 million in Q2 2023[2] - First half of 2024 revenue rose by 90% year over year, from $2.3 million to $4.4 million[2] - Annual recurring revenue surged approximately 500%, increasing from $450 thousand to $2.7 million[2] - Operating loss for Q2 2024 was $4.8 million, compared to a loss of $3.2 million in Q2 2023[9] - Net loss for the second quarter was $6.4 million, compared to a net loss of $0.7 million in the same period last year[9] Capital and Debt Management - The company raised $26.5 million through a public offering of $11.5 million and a private placement of $15 million[2] - All remaining convertible notes and other debt totaling $7.05 million were converted to equity, eliminating future liabilities[5] Business Development - MSAI launched its Inspections business, expanding service offerings to meet enterprise customer needs[3] - A strategic partnership was established with Denali Advanced Integration to facilitate customer access to MSAI's solutions[3] Compliance and Governance - The company demonstrated compliance with NASDAQ listing requirements by significantly strengthening shareholders' equity[3]

Table of Contents As filed with the Securities and Exchange Commission on June 26, 2024 Registration No. 333-280016 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 3 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MULTISENSOR AI HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 3827 (Primary Standard Industrial Classification Code Number) 86-3938682 (I.R.S. Em ...

Table of Contents As filed with the Securities and Exchange Commission on June 21, 2024 Registration No. 333-280016 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 2 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MULTISENSOR AI HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 3827 (Primary Standard Industrial Classification Code Number) 86-3938682 (I.R.S. Em ...

As filed with the Securities and Exchange Commission on June 18, 2024 Registration No. 333-280016 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 2 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MULTISENSOR AI HOLDINGS, INC. (Address, including zip code, and telephone number, including area code, of registrant's principal executive offices) Peter Baird, Chief Financial Officer 2105 West Cardinal Drive Beaumont, Texas 77705 (866) 861-0788 (Name, addr ...

Table of Contents As filed with the Securities and Exchange Commission on June 17, 2024 Registration No. 333-280016 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 1 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MULTISENSOR AI HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 3827 (Primary Standard Industrial Classification Code Number) 86-3938682 (I.R.S. Em ...

Table of Contents As filed with the Securities and Exchange Commission on June 6, 2024 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MULTISENSOR AI HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 3827 (Primary Standard Industrial Classification Code Number) 86-3938682 (I.R.S. Employer Identification No.) ...

Financial Results - MultiSensor AI Holdings, Inc. reported its financial results for Q1 2024 on May 16, 2024[4] - Specific financial figures for Q1 2024 compared to the same prior year period were included in the earnings release, although exact numbers were not provided in the extracted content[4] Key Performance Indicators - The company highlighted its annual recurring revenue as a key performance indicator, which reflects the annualized current software and services revenue under contract for one year or longer[5]

Financial Performance - Revenue for the three months ended March 31, 2024, was $2,275,000, representing a 132% increase compared to $980,000 for the same period in 2023[27]. - Net loss for Q1 2024 was $3,922,000, compared to a net loss of $2,907,000 in Q1 2023, reflecting ongoing challenges[27]. - Operating loss for Q1 2024 was $2,565,000, an improvement from a loss of $3,176,000 in Q1 2023[27]. - The Company reported total revenue of $2,275 for the three months ended March 31, 2024, a significant increase from $980 in the same period of 2023, representing a growth of 132%[61]. - Product sales contributed $2,022 to total revenue in Q1 2024, up from $755 in Q1 2023, indicating a growth of 167%[65]. - For the three months ended March 31, 2024, the company reported a net loss of $3,922,000 compared to a net loss of $2,907,000 for the same period in 2023[176]. - EBITDA for the three months ended March 31, 2024, was $(3,614,000) with an EBITDA margin of (159)%, compared to $(2,692,000) and (275)% in 2023[176]. - Adjusted EBITDA for the same period was $(2,292,000) with an adjusted EBITDA margin of (101)%, compared to $(2,909,000) and (297)% in 2023[177]. Costs and Expenses - Cost of goods sold for Q1 2024 was $1,404,000, up from $465,000 in Q1 2023, indicating a significant increase in production costs[27]. - Selling, general and administrative expenses for the three months ended March 31, 2024, were approximately $3.2 million, a decrease of $0.3 million, or 10%, from approximately $3.5 million for the same period in 2023[165]. - Depreciation expense for the three months ended March 31, 2024, was approximately $0.3 million, an increase of $0.1 million, or 52%, from approximately $0.2 million for the same period in 2023[166]. - Interest expense for the three months ended March 31, 2024, was approximately $0.04 million, a decrease of $0.05 million, or 92%, from approximately $0.05 million for the same period in 2023[167]. - Loss on financing transaction for the three months ended March 31, 2024, was approximately $0.9 million due to the conversion of Financing Notes and promissory notes into equity[170]. Assets and Liabilities - Total current assets decreased to $9,093,000 as of March 31, 2024, down from $12,513,000 at the end of 2023[26]. - Total liabilities decreased to $12,752,000 as of March 31, 2024, compared to $16,640,000 at the end of 2023[26]. - Cash and cash equivalents at the end of Q1 2024 were $491,000, down from $1,155,000 at the end of 2023[26]. - As of March 31, 2024, the Company had total inventories of $7,108, a decrease from $7,573 as of December 31, 2023, reflecting a reduction of 6.1%[68]. - Contract liabilities decreased to $1,154 as of March 31, 2024, from $2,065 at the beginning of the year, a reduction of 44%[66]. - The outstanding balance of Financing Notes was $1,695, down from $5,695 as of December 31, 2023[90]. Financing and Capital - The Company plans to raise additional liquidity through debt or equity instruments and reduce operating expenses to address financial challenges[49]. - The company entered into a $3,000 asset-based revolving credit agreement with B1 Bank on January 22, 2023, which included borrowing capacity for working capital[71]. - The company issued Financing Notes totaling $6,805 on December 19, 2023, as part of a Business Combination, with a maturity date set for three years later[87]. - The company converted $1,650 of financing notes into common stock at a price of $5 per share on April 5, 2024[121]. - The company entered into a Common Stock Purchase Agreement allowing the sale of up to $25,000 of common stock at market price[122]. - The company modified the terms of the remaining $3.53 million in financing notes to reduce the conversion price to $5.00 per share[140]. Market Position and Strategy - The company is focused on expanding its multi-sensor systems for industrial applications, including cloud-based software and services[34]. - The business combination with Infrared Cameras Holdings Inc. was completed on December 19, 2023, enhancing the company's market position[39]. - The company is committed to expanding its sales and marketing presence, increasing investment in SaaS solutions, and pursuing strategic acquisitions to drive future growth[216]. - The company has a limited operating history providing SaaS solutions, which complicates the evaluation of future prospects and associated risks[221]. Compliance and Governance - The company received notice from Nasdaq regarding non-compliance with listing requirements, but was granted continued listing on the Nasdaq Capital Market[146]. - The company has substantial doubt about its ability to continue as a going concern for the next twelve months due to recurring losses and the need to raise additional capital[180]. - The company plans to hire additional accounting personnel and implement improved controls to address identified material weaknesses in internal control over financial reporting[207]. - The company is classified as an emerging growth company, allowing it to delay the adoption of new accounting standards until they apply to private companies[199]. - The company is not involved in any material claims or legal actions that would have a material adverse effect on its financial position as of March 31, 2024[109].

Table of Contents As filed with the Securities and Exchange Commission on April 29, 2024 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MULTISENSOR AI HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 3827 (Primary Standard Industrial Classification Code Number) 86-3938682 (I.R.S. Employer Identification No ...

Table of Contents As filed with the Securities and Exchange Commission on April 18, 2024 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MULTISENSOR AI HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 3827 (Primary Standard Industrial Classification Code Number) 2105 West Cardinal Drive Beaumont, Texas 7770 ...