MultiSensor AI(US:MSAI)2024-11-12 22:16Revenue Growth - Year-to-date revenue increased 57% year over year to $6.0 million from $3.8 million, with Q3 revenue up 7% year over year to $1.6 million from $1.5 million[2] Cash Position and Liquidity - The company's cash position grew to $8.6 million as of September 30, 2024, from $0.2 million as of June 30, 2024, significantly improving overall liquidity[2] Liabilities and Balance Sheet - Total liabilities decreased to $3.3 million as of September 30, 2024, from $14.9 million as of June 30, 2024, reflecting a focus on maintaining a conservative balance sheet[2] - Closed on a combined $26.5 million in public and private equity offerings in July 2024, strengthening the balance sheet[3] Strategic Partnerships - Announced strategic partnerships with Seek Thermal and IndustrAI Sàrl to expand multi-sensor solutions to additional applications and geographies[3] Operating and Net Loss - Operating loss for Q3 2024 was $8.675 million, compared to $2.112 million in Q3 2023, with a year-to-date operating loss of $16.087 million[8] - Net loss for Q3 2024 was $8.195 million, compared to $1.875 million in Q3 2023, with a year-to-date net loss of $18.510 million[8] Expenses and Impairment - Selling, general, and administrative expenses increased to $6.098 million in Q3 2024 from $2.848 million in Q3 2023, reflecting higher operational costs[8] - Inventory impairment charges of $2.038 million were recorded in Q3 2024, compared to none in Q3 2023[8] Share Dilution - Weighted-average shares outstanding increased to 24,268,186 in Q3 2024 from 539,271 in Q3 2023, reflecting equity offerings and dilution[8]