Proptech Breakthrough Awards Proptech Breakthrough Awards Proptech Breakthrough Awards PALO ALTO, CA, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Cloudastructure, Inc. (Nasdaq: CSAI) (“we,” “us,” “our,” “Cloudastructure” or the “Company”) an award-winning leader in AI Surveillance and Remote Guarding, today announced that its Alpha™ platform—developed in partnership with Flex Security, a division of RVMP®—has been named “Project Management Solution of the Year” for construction in the 5th Annual PropTech Breakth ...

Proptech Breakthrough Awards PALO ALTO, CA, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Cloudastructure, Inc. (Nasdaq: CSAI) (“we,” “us,” “our,” “Cloudastructure” or the “Company”) an award-winning leader in AI Surveillance and Remote Guarding, today announced that its Alpha™ platform—developed in partnership with Flex Security, a division of RVMP®—has been named “Project Management Solution of the Year” for construction in the 5th Annual PropTech Breakthrough Awards. The program, conducted by PropTech Breakthrough, ...

Core Insights - Cloudastructure, Inc. reported a significant revenue increase of 212% year-over-year for Q1 2025, reaching $0.7 million, marking a strong start as a publicly-traded company [10][12] - The company achieved a positive gross profit of $0.3 million, a notable improvement from a gross loss of $17 thousand in Q1 2024 [12] - Cloudastructure secured its largest contract in history within the luxury multifamily segment, indicating strong demand for its AI-driven surveillance solutions [3][4] Revenue Growth and Market Expansion - The demand for Cloudastructure's AI-driven surveillance and remote guarding platform accelerated, driven by rising crime rates and the need for proactive security measures [2][9] - The company expanded its reach into the affordable housing sector through a partnership to implement cloud surveillance services in high-density communities [4] - National property management firms increased their use of Cloudastructure's platform across luxury apartment portfolios, reflecting a trend towards intelligent surveillance systems [5] Innovation and Infrastructure - Cloudastructure transitioned its AI hosting operations to a renewable energy-powered data center, significantly reducing processing costs and enhancing compliance with energy regulations [6] - The launch of Alpha™, a solar-powered, AI-enabled mobile surveillance trailer, showcases the company's commitment to innovation in security solutions [7] Financial Performance - Cost of goods sold increased to $0.4 million, but the company benefited from a 30% reduction in hosting and data center bandwidth costs due to its infrastructure transition [11] - Despite a net loss of $2.5 million for the quarter, attributed to higher operating expenses, the company remains focused on sustainable growth and operational efficiency [12][13] Customer and Service Metrics - The company reported a 38% increase in the number of customer locations serviced and a 79% rise in cloud video surveillance subscriptions [18] - Remote guarding revenue surged by 164%, while hardware sales increased by 241%, indicating strong demand across various service offerings [18]

Core Insights - Precision Drilling Corporation reported its first quarter results for 2025, highlighting a decrease in revenue and adjusted EBITDA compared to the same period in 2024, while maintaining a commitment to shareholder returns and debt reduction [2][8][18]. Financial Highlights - Revenue for Q1 2025 was $496 million, down 6% from $528 million in Q1 2024 [8][13]. - Adjusted EBITDA decreased to $137 million from $143 million year-over-year, reflecting a 3.9% decline [8][13]. - Net earnings attributable to shareholders were $35 million, or $2.52 per share, compared to $37 million, or $2.53 per share in the previous year [8][13][18]. - Cash provided by operations was $63 million, enabling the company to repurchase $31 million in shares and reduce debt by $17 million [8][18][27]. Operational Highlights - Canadian drilling activity averaged 74 active rigs, slightly up from 73 in 2024, while U.S. activity averaged 30 rigs, down from 38 [6][14]. - Revenue per utilization day in Canada was $35,601, consistent with the previous year, while U.S. revenue per utilization day was $33,157, a 0.9% increase [8][14]. - Service rig operating hours decreased by 10% due to project deferrals and an earlier spring breakup [8][15]. Strategic Initiatives - The company has reduced its 2025 capital budget to $200 million from the previously announced $225 million, reflecting a cautious approach amid market uncertainty [9][26]. - Precision aims to allocate 35% to 45% of free cash flow before debt repayments to share buybacks, with a commitment to repaying at least $100 million of debt in 2025 [8][27]. - The company is focused on maximizing free cash flow through disciplined capital deployment and strict cost management [20][27]. Industry Outlook - Near-term expectations for global energy demand growth are tempered by geopolitical events, but long-term fundamentals remain positive due to economic growth and increasing demand from emerging economies [21][22]. - In Canada, the operationalization of the Trans Mountain pipeline and LNG Canada is expected to support drilling activity [22][23]. - The U.S. is anticipated to see increased natural gas drilling activity due to significant LNG export capacity expansion [24][25].