Infinitii AI Focuses on Strategic Growth and Product Development for New Vertical Markets
Infinitii AI, a leader in AI-driven predictive analytics software for Smart City water and Smart Industry infrastructure applications, has successfully achieved significant growth while strategically controlling expenses. The company’s focus on ongoing product development and expansion into new vertical markets has contributed to its success and continued growth.
In the fiscal year ended June 30, 2023, Infinitii AI secured its largest-ever recurring revenue contracts, each exceeding $1 million, with large-scale water treatment facilities. These contracts were a result of the robust adoption of the company’s machine learning software products. As a result, Infinitii AI experienced a 27% increase in sales and a 33% growth in monthly average revenue from contracted and subscription customers. Additionally, 21% of the company’s recurring revenue came from new customers.
Despite this impressive growth, Infinitii AI maintained strict control over expenses while preparing for product introductions in new vertical markets. The company’s CEO, Jean Charles Phaneuf, emphasized the importance of controlling expenses to further increase revenue and drive continued growth.
Financially, Infinitii AI generated $2,052,475 in revenues for the year ended June 30, 2023, representing a 27% increase compared to the previous year. The company’s new line of machine learning products contributed to the increase in software license revenue, with a 33% growth in monthly average revenue from contracted and subscription customers.
While working towards its strategic growth and product development goals, Infinitii AI experienced a customer renewal rate of 95% in fiscal year 2023, reflecting high customer satisfaction and loyalty. The company’s success was further demonstrated by securing the largest sale in its history, a $9.2 million contract with the Region of Peel, and the implementation of an Equity Incentive Plan to attract and retain skilled employees and senior managers.
Looking ahead to fiscal year 2024, Infinitii AI is developing and test-marketing a new line of software applications that expand real-time data intelligence. These applications will provide micro views of proactive maintenance and power usage on individual pieces of mission-critical equipment. The company is also actively participating in industry events and tradeshows to showcase its expertise and thought leadership.
Infinitii AI’s strategic focus on growth, product development, and expansion into new vertical markets positions the company for continued success in the rapidly evolving AI-driven predictive analytics industry. With a strong customer base and a commitment to innovation, Infinitii AI is well-positioned to meet the needs of its customers and drive industry advancements.
FAQ:
Q: What is Infinitii AI?
A: Infinitii AI is a leader in AI-driven predictive analytics software for Smart City water and Smart Industry infrastructure applications.
Q: How has Infinitii AI achieved growth?
A: Infinitii AI has achieved growth through ongoing product development, expansion into new vertical markets, and securing large-scale contracts.
Q: What were Infinitii AI’s revenue figures for fiscal year 2023?
A: Infinitii AI generated $2,052,475 in revenues for fiscal year 2023, representing a 27% increase compared to the previous year.
Q: What contributed to the increase in revenue?
A: The increase in revenue was attributed to the robust adoption of the company’s machine learning software products, resulting in recurring revenue contracts and increased software license revenue.
Q: What is Infinitii AI’s customer renewal rate?
A: Infinitii AI experienced a customer renewal rate of 95% in fiscal year 2023, reflecting high customer satisfaction and loyalty.
Definitions:
– AI-driven predictive analytics software: Software that uses artificial intelligence to analyze data and make predictions or recommendations based on patterns and trends.
Suggested related links:
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– Contact Infinitii AI
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