AITX Signs Single Biggest Contract in Company History

Core Insights - The company has entered a three-year agreement with a U.S.-based Remote Video Monitoring (RVM) company, with a total contract value of $2.5 million, to deploy its SARA™ AI platform across the RVM's monitored accounts [1][3][4] Agreement Details - The initial annual value of the deployment is approximately $855,000, with full implementation expected within six months [3] - Once fully implemented, the annual recurring revenue is projected to approach $1 million as the RVM expands its customer base [3] Technology and Market Position - SARA is designed to autonomously monitor live video streams, identify relevant events, and respond in real time, providing a scalable alternative to traditional monitoring methods [4] - The project aims to replace three legacy system providers and transition over 1,000 video monitoring accounts currently managed overseas [3][4] Company Background - AITX, through its subsidiary RAD-I, is positioned to redefine the $50 billion U.S. security and guarding services industry with its AI-driven Solutions-as-a-Service model [6] - RAD-I solutions can provide cost savings of 35%-80% compared to traditional manned security services [6] Leadership and Expertise - The company is led by Steve Reinharz, who has extensive experience in the security services industry and is involved in various industry associations [9] - The leadership team includes professionals with backgrounds in law enforcement and robotics innovation, enhancing the company's capability to deliver effective solutions [9] Sales Pipeline - RAD-I has a prospective sales pipeline that includes over 35 Fortune 500 companies, indicating strong potential for future business growth [10]