AITX Q2 FY2027: Non-Top-Customer Revenue Up 61% YoY, Revenue Up 8% Sequentially
AITX sits 80% above its 52-week low of $0.001 on elevated volume (2.5× avg).
Summary
AITX's Q2 FY2027 release shows revenue excluding its largest customer up 61% year-over-year to a record $1.63M, with total revenue up 8% sequentially to $1.99M. The company still lost $2.68M from operations and is targeting monthly operating cash breakeven in January 2027.
Key Events · Earnings and Guidance · AITX
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Q2 Revenue $1.99M, Up 8% Sequentially
Revenue of $1,985,604 rose 5% year-over-year from $1,888,749 and 8% from $1,831,202 in Q1 FY2027. Device rental revenue was $1,765,293 (89% of total, ~$7.1M annualized run-rate) and direct sales $220,311.
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Non-Top-Customer Revenue Up 61% to Record
Revenue excluding the largest customer reached $1,627,444, up 61% year-over-year and 11% sequentially. That customer fell to 18% of revenue from 46% a year ago, and the top five now account for ~50% versus ~73%.
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Gross Margin 67% Excluding Write-Down
Gross profit was $1,063,301 (54% of revenue) after a $270,987 non-cash inventory write-down on the discontinued residential camera line; excluding it, gross profit was $1,334,288, or 67%.
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Operating Loss $2.68M for the Quarter
Loss from operations was $2,680,396 for the quarter and $5,389,759 for the six months, versus $5,487,827 in the prior-year six-month period. Six-month operating expenses fell 5% to $7,636,884.
Analysis · AITX · Technology
The diversification story is the headline: revenue outside the largest customer hit a record $1.63M, up 61% year-over-year, while that largest customer fell from 46% to 18% of revenue. Total revenue of $1.99M grew only 5% year-over-year because that customer's spend is collapsing, so the base business is carrying growth the top line doesn't show. Gross margin was 67% excluding a $270,987 non-cash write-down on the exited residential camera line, but the company still lost $2.68M from operations in the quarter. Against the going-concern warning and $58.9M of current liabilities disclosed in yesterday's 10-Q, this release is about whether the cost program and revenue mix can close the cash gap before financing is needed again — management now targets monthly operating cash breakeven in January 2027 and all-in breakeven in Q2 calendar 2027.
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At the time of this filing, AITX was trading at $0.00 on OTC in the Technology sector, with a market capitalization of approximately $1.2M. The 52-week trading range was $0.00 to $0.12. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.