Infrared Cameras Holdings Inc

Earnings data Q1 2024

Earnings data Q4 2023

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MultiSensor AI Holdings, Inc. develops and manufactures infrared-sensor systems. Its AWS-powered software leverages ICI-built thermal imaging, acoustic imaging, and vibration sensing platforms for condition-based monitoring of critical mechanical and electrical assets and manufactured outputs. The company was founded in 1995 and is headquartered in Beaumont, TX.

Leadership Changes to Further Advance Growth Strategy and Execution Objectives HOUSTON, TX / ACCESSWIRE / November 27, 2024 / MultiSensor AI Holdings, Inc. (Nasdaq:MSAI), a pioneer in the emerging industrial AI-driven condition-based maintenance and process solution industry, today announced a leadership transition as MultiSensor AI evolves into its goal of being a SaaS leader in Predictive Maintenance and to position the Company for its next phase of growth. The Board of Directors is pleased to announce that, consistent with its succession plans, it has appointed fellow Board member Stuart Flavin, III ("Trip") to also serve as Interim Chief Executive Officer.

MultiSensor AI Announces Appointment of Stuart Flavin, III as Interim Chief Executive Officer

EXOSENS ENTERS INTO EXCLUSIVE NEGOTIATIONS TO ACQUIRE NOXANT, SPECIALIZED IN HIGH PERFORMANCE COOLED INFRARED CAMERAS

Exosens enters into exclusive negotiations to acquire Noxant, specialized in high performance cooled infrared cameras

Capital raise strengthens the Company's balance sheet positioning the Company for future growth and investment in innovation. HOUSTON, TX / ACCESSWIRE / November 12, 2024 / MultiSensor AI Holdings, Inc. (NASDAQ:MSAI) (the "Company" or "MSAI"), a pioneer in AI-powered industrial condition-based maintenance and process control solutions announced results for the third quarter ended September 30, 2024.

MultiSensor AI Announces Third Quarter 2024 Results

Founder of Kentucky Thermal Institute Expects to Drive Demand for Inspection Services and Predictive Maintenance Solutions HOUSTON, TX / ACCESSWIRE / November 12, 2024 / MSAI Inspection Services, a business unit of MultiSensor AI Holdings, Inc. (NASDAQ:MSAI) today announced that John Harnage, the founder of Kentucky Thermal Institute (KTI), has joined as Director of Business Development. MSAI Inspection Services was launched in April 2024 to provide a range of on-site inspections and predictive maintenance solutions for MSAI's industrial clients.

John Harnage Joins MultiSensor AI as Director of Business Development for MSAI Inspection Services

Expands MSAI's geographic presence and expected to accelerate both companies' growth in enterprise solutions HOUSTON, TX / ACCESSWIRE / October 30, 2024 / MultiSensor AI Holdings, Inc. (NASDAQ:MSAI), a leader in the emerging AI-driven condition-based maintenance industry, today announced that it has entered into a formal strategic channel partner relationship with IndustrAI Sàrl (Luxembourg). IndustrAI focuses on developing and implementing sensor-based predictive maintenance solutions, particularly for industrial clients across the European Union.

MultiSensor AI Announces Strategic Channel Partner Relationship with IndustrAI Sàrl (Luxembourg) Focused on European Industrial Market

Cameras Last Year Reduced Potential Outages by Nearly 20 Million Minutes JACKSON, Mich. , Oct. 23, 2024 /PRNewswire/ -- Consumers Energy is putting technology to work on its electric grid, using infrared cameras that reduced power outages for its nearly 2 million by an average of 10 minutes last year.

Consumers Energy Uses Infrared Cameras to Detect, Fix Issues on Michigan's Electric Grid

Seek Thermal Customers Now Able to Leverage MultiSensor AI's Leading Condition-Based Monitoring (CBM) Software HOUSTON, TX and SANTA BARBARA, CA / ACCESSWIRE / October 15, 2024 / MultiSensor AI Holdings, Inc. (Nasdaq:MSAI), a pioneer in AI-pwered industrial condition-based maintenance and process control solutions, today announced that it has formalized a strategic partnership with Seek Thermal, Inc. Formed in 2012 by Bill Parrish, PhD and Tim Fitzgibbons PhD, Seek Thermal designs and develops high-quality thermal devices which are manufactured in the USA. This partnership announcement is the culmination of months of effort between the two organizations to integrate Seek's hardware solutions with MSAI's predictive maintenance software.

MultiSensor AI Partners with Seek Thermal, Leading Thermal Sensor Manufacturer

HOUSTON, TX / ACCESSWIRE / August 27, 2024 / MultiSensor AI Holdings, Inc. (NASDAQ:MSAI), a pioneer in AI-powered industrial condition-based maintenance and process control solutions, announced today that it will be attending the H.C. Wainwright 26th Annual Global Investment Conference on September 9-11, 2024, at the Lotte New York Palace Hotel in New York City.

MultiSensor AI to Attend the H.C. Wainwright 26th Annual Global Investment Conference

Important milestone towards improving financial reporting, internal controls and operational procedures HOUSTON, TX / ACCESSWIRE / August 26, 2024 / MultiSensor AI Holdings, Inc. (NASDAQ:MSAI), a pioneer in AI-powered industrial condition-based maintenance and process control solutions, announced the appointment of Robert Nadolny as its new Vice President - Controller. At MSAI Mr.

MultiSensor AI Announces Robert Nadolny as New Vice President - Controller

Second quarter revenue grew 59% as the Company continues to scale operations Recent capital raise and debt conversion represent meaningful inflection points, strengthening the Company's balance sheet and financial flexibility HOUSTON, TX / ACCESSWIRE / August 14, 2024 / MultiSensor AI Holdings, Inc. (NASDAQ:MSAI), a pioneer in AI-powered industrial condition-based maintenance and process control solutions, announced results for the second quarter ended June 30, 2024. Financial Highlights: First half of 2024 revenue increased 90% year over year from $2.3 million to $4.4 million; Q2 revenue increased 59% year over year from $1.3 million to $2.1 million.

MultiSensor AI Announces Second Quarter 2024 Results

BEAUMONT, TX / ACCESSWIRE / June 28, 2024 / MultiSensor AI Holdings, Inc. (NASDAQ:MSAI) ("MSAI" or the "Company"), a pioneer in AI-powered industrial condition-based maintenance and process control solutions, today announced the pricing of a firm commitment public offering of 6,250,000 shares of its common stock at a public offering price of $1.60 per share. The gross proceeds of the offering are expected to be approximately $10 million before deducting underwriting discounts, commissions and offering expenses.

MultiSensor AI Holdings, Inc. Announces Pricing of $10 Million Public Offering and Concurrent $15 Million Private Placement for a Total of $25 Million

HOUSTON, TX and REDMOND, WA / ACCESSWIRE / June 14, 2024 / MultiSensor AI Holdings, Inc. (Nasdaq:MSAI), a leader in the emerging AI-driven predictive maintenance space, today announced that it has entered into a formal Strategic Channel Partner relationship with Denali Advanced Integration ("Denali"). Since its formation in 1992, Denali has been a leading provider of Information Technology (IT) and Operational Technology (OT) end-to-end solutions for enterprise clients around the world.

MultiSensor AI Announces Strategic Channel Partner Relationship with Denali Advanced Integration

HOUSTON, TX / ACCESSWIRE / June 4, 2024 / MultiSensor AI Holdings, Inc. (Nasdaq:MSAI, MSAIW), a pioneer in AI-powered industrial condition-based maintenance and process control solutions, today announced that it received written notification from The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company has demonstrated compliance with the Nasdaq continued listing criteria. Accordingly, the Company will be removed from the list of companies published by Nasdaq that are noncompliant with its continued listing standards.

MultiSensor AI Announces Compliance With Nasdaq Continued Listing Criteria

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Strong top-line expansion and balance sheet improvements support the foundation for further growth HOUSTON, TX / ACCESSWIRE / May 16, 2024 / MultiSensor AI Holdings, Inc. (NASDAQ:MSAI), a pioneer in AI-powered industrial condition-based maintenance and process control solutions announced results for the first quarter ended March 31, 2024. Financial Highlights for Q1 2024: Revenue increased 132% year over year from $980k to $2,275k Annual recurring revenue1 increased more than 450% from approximately $425k to $2,500k Completed conversion of $7.05 million of convertible notes and other debts to equity(including conversions subsequent to Q1) Strategic Business Highlights: The Company continued its revenue expansion with launch customers and initiated SaaS contract with new enterprise customers.

MultiSensor AI Announces First Quarter 2024 Results

The conversion fortifies the balance sheet, while improving the capital structure by eliminating a significant portion of its debt obligations BEAUMONT, TX / ACCESSWIRE / May 3, 2024 / MultiSensor AI Holdings, Inc. (NASDAQ:MSAI), a pioneer in AI-powered industrial predictive maintenance and process control solutions, today announced the conversion of $6,555,000 of its convertible notes to equity. Following the transaction, $250,000 of the $6,805,000 of notes originally issued in connection with the Company's business combination on December 19, 2023, remain outstanding.

MultiSensor AI Announces Investor Agreements for the Conversion of $6.555 Million Convertible Debt to Equity

HOUSTON, TX / ACCESSWIRE / April 18, 2024 / MultiSensor AI Holdings, Inc. (Nasdaq:MSAI), a leader in the emerging AI-driven predictive maintenance space, today announced that it has reorganized its thermal inspections services into a newly launched multi-sensor business, MSAI Inspection Services. MSAI has long been a leader in providing thermal inspections to a range of enterprise customers, particularly in the healthcare and industrial spaces.

MultiSensor AI Announces Launch of MSAI Inspections Business

Completed business combination with SportsMap Tech Acquisition Corp. and began trading on December 20, 2023 Demonstrated strong momentum in sales pipeline saturated with global blue-chip companies BEAUMONT, TX / ACCESSWIRE / April 1, 2024 / MultiSensor AI Holdings, Inc. (NASDAQ:MSAI), a pioneer in AI-powered industrial predictive maintenance and process control solutions, today announced results for the fourth quarter and full year ended December 31, 2023. Strategic Business Highlights: Completed business combination agreement with SportsMap Tech Acquisition Corp Executed a corporate rebrand changing the Company's name to MultiSensor AI which aligns with the Company's goals to provide AI-driven multi-sensor software solutions in the predictive maintenance market Unveiled new SmartIR 2.0 software platform which added new sensor modalities and AI-powered analytic capabilities to its existing platform Subsequent to quarter end, the Company announced the waiver of earnout share issuances and release of lock-up restrictions David Gow, Multisensor AI's chairman, commented, "I am pleased to report the results of Multisensor AI's first quarter as a public company.

MultiSensor AI Announces Fourth Quarter and Full Year 2023 Results

HOUSTON, TX / ACCESSWIRE / March 7, 2024 / MultiSensor AI Holdings, Inc. (NASDAQ:MSAI), a leader in the emerging AI-driven predictive maintenance space, today announced that it had entered into an agreement (the "Earnout Waiver Agreement") to terminate a provision of its Business Combination Agreement (the "Earnout Provision") with SportsMap Tech Acquisition Corp., dated December 5, 2022. The Earnout Provision would have required the Company to issue of up to 2,400,000 shares of the Company's common stock to certain former stakeholders of Infrared Cameras Holdings, Inc., the target operating company that was party to the business combination.

MultiSensor AI Announces Waiver of Earnout Share Issuance and Release of Lock-Up Restrictions

The event will mark MSAI's first investor-facing event as a public entity HOUSTON, TX / ACCESSWIRE / February 22, 2024 / MultiSensor AI Holdings, Inc. (NASDAQ:MSAI), a pioneer in AI-powered industrial predictive maintenance and process control solutions, announced today that it will be presenting at the 36th Annual ROTH Conference March 17-19, 2024, at The Ritz Carlton Laguna Niguel in Dana Point, California. Steve Winch, President, Peter Baird, Chief Financial Officer, and Jeff Guida, Chief Innovation Officer, will be presenting to investors, highlighting the Company's recent commercial breakthroughs, technology upgrades, and the overarching growth strategy.

MultiSensor AI to Present at the 36th Annual ROTH Conference March 17-19, 2024, in Dana Point, California

Revolutionary Predictive Maintenance and Process Control Solution Adds New Sensor Modalities and AI-Powered Analytics Capabilities HOUSTON, TX / ACCESSWIRE / February 15, 2024 / MultiSensor AI Holdings, Inc. (NASDAQ:MSAI), a pioneer in AI-powered industrial maintenance and process control solutions, announced today that it has released the next generation of its flagship software, SmartIR. The release of SmartIR 2.0 marks a significant milestone in MultiSensor AI's mission: to empower industrial organizations with predictive, AI-powered solutions for advanced asset reliability, process control, and employee health and safety.

MultiSensor AI Unveils SmartIR 2.0 Software Platform

Name Change Reflects Evolution into SaaS Leader in Industrial Predictive Maintenance HOUSTON, TX / ACCESSWIRE / February 12, 2024 / Infrared Cameras Holdings, Inc., a leader in the emerging AI-driven predictive maintenance space, is pleased to announce that as of February 9, 2024 it has changed its name to MultiSensor AI Holdings, Inc. ("MultiSensor AI"). The Company's NASDAQ ticker symbol, MSAI, will remain unchanged.

Infrared Cameras Holdings, Inc. Changes Its Name to MultiSensor AI Holdings, Inc. - A Bold New Chapter in MultiSensor AI's Journey

Infrared Cameras (NASDAQ:MSAI) stock is on the rise Thursday despite a lack of news from the tech company this morning. There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why the stock is up today.

Why Is Infrared Cameras (MSAI) Stock Up 137% Today?

Note: A prior version of this press release incorrectly indicated that a halt would be placed on the company's securities pending the company demonstrating that it satisfies the initial listing criteria for NASDAQ. The newly public, Infrared Cameras Holdings, Inc., will offer innovative solutions through its integrated thermal imaging and sensing platforms BEAUMONT, TX / ACCESSWIRE / December 19, 2023 / Infrared Cameras Holdings, Inc., a privately-held transformational solutions provider of a suite of thermal imaging and sensing platforms, paired with edge and cloud software, today closed its previously announced business combination with SportsMap Tech Acquisition Corp. (NASDAQ:SMAP), a publicly-traded special purpose acquisition company.

CORRECTION: Infrared Cameras Announces Closing of Business Combination with SportsMap Tech Acquisition Corp.

The newly public, Infrared Cameras Holdings, Inc., will offer innovative solutions through its integrated thermal imaging and sensing platforms BEAUMONT, TX / ACCESSWIRE / December 19, 2023 / Infrared Cameras Holdings, Inc., a privately-held transformational solutions provider of a suite of thermal imaging and sensing platforms, paired with edge and cloud software, today closed its previously announced business combination with SportsMap Tech Acquisition Corp. (NASDAQ:SMAP), a publicly-traded special purpose acquisition company. The business combination was approved by SMAP's stockholders at a special meeting of stockholders held on December 8, 2023.

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