MultiSensor AI(US:MSAI)2025-08-13 20:18Revenue Performance - Second quarter revenue was $1.4 million, a 33% decrease from $2.1 million in the second quarter of 2024, primarily due to a reduction in stand-alone hardware sales[6] - Software revenue grew 37% to $0.4 million, compared to $0.3 million in the second quarter of 2024[6] Operating Expenses and Loss - Total operating expenses for the second quarter were $3.7 million, a decrease from $6.4 million in the same quarter of 2024[11] - The net loss for the second quarter was $3.3 million, compared to a net loss of $6.4 million in the second quarter of 2024[11] - The weighted-average shares outstanding for the second quarter were 33,551,398, compared to 13,681,678 in the same quarter of 2024[11] Strategic Initiatives - The company completed its first pilot implementation with a second Big-3 automaker to monitor lithium-ion battery packs for thermal runaway[6] - The company has strategically expanded its target applications to include data centers, with successful pilots validating significant value in cooling management and server load balancing[6] - The company achieved a significant milestone by launching new applications with a global distributor, including pilot programs for monitoring rooftop solar installations and critical power systems[7] - The company is prioritizing a focused go-to-market effort targeting data centers in the second half of 2025 to capture substantial growth opportunities[6] Subscription and Renewals - Subscription renewals for a global distributor commenced in June 2025, with cash received up-front for the 12-month subscription term[6]