Mon, Mar 31, 8:01 PM (27 days ago)
**Cloudastructure, Inc. (CSAI) - Financial Summary** **Overview:** Cloudastructure, Inc. (CSAI) is a cloud-based AI video surveillance and remote guarding service provider. The company operates in the property management space and has contracts with top property management firms. CSAI's solutions include cloud video surveillance, remote guarding, and hardware sales. **Financial Performance (2024 vs. 2023):** - **Revenue:** Total revenue increased by approximately 125% from $607,000 in 2023 to $1,364,000 in 2024. This growth is attributed to a 30% increase in new locations and significant increases in cloud video surveillance, remote guarding, and hardware sales. - **Cost of Goods Sold:** Increased by 36% from $725,000 in 2023 to $990,000 in 2024, due to increased sales and installation projects. - **Operating Expenses:** Decreased by 24% from $8,594,000 in 2023 to $6,565,000 in 2024. The largest components were non-cash expenses and sales and marketing expenses, which both decreased. - **Net Loss:** Decreased by 27% from $9,007,000 in 2023 to $6,535,000 in 2024. This improvement is due to increased revenue and reduced operating expenses. **Financial Condition:** - **Cash Flow:** Negative cash flow from operations was $3,277,000 in 2024, compared to $5,716,000 in 2023. The company has been funding operations through equity financings and expects to maintain stockholders' equity well in excess of the required minimum under Nasdaq rules. - **Liquidity:** As of December 31, 2024, CSAI had $52,000 in cash and a working capital deficiency of $577,000. The company has entered into equity financings to support its operations through at least June 30, 2026. **Market Position:** - **Customer Base:** CSAI has contracts with five of the top 10 property management companies on the National Multifamily Housing Council’s 2024 NMHC 50 list. The company is focused on expanding into more top-tier customer locations and acquiring additional customers in the property management space. - **Competitive Landscape:** CSAI competes with entities like Avigilon, Milestone Systems, Verkada, Tyco Integrated Security, and Stealth Monitoring. The company believes its solutions are more affordable and easier to use than competitors' offerings. **Risk Factors:** - **Technology Development:** CSAI's technology is continually evolving, and there is no guarantee that it will be developed to a point where no further development is required. - **Security Measures:** Breaches in security measures could harm the company's reputation and result in significant liabilities. - **Regulatory Environment:** The company is subject to various U.S. federal and state laws and regulations, including privacy, data protection, intellectual property, competition, and consumer protection laws. - **Financial Condition:** CSAI has a limited operating history and has incurred operating losses and negative cash flows from operations since inception. The company expects to continue incurring operating losses and negative cash flows for the foreseeable future. **Future Outlook:** - **Growth Strategy:** CSAI plans to continue expanding its customer base, acquiring additional customers in the property management space, and entering new markets in 2025. - **Funding Requirements:** The company expects to incur additional losses and may never become profitable. CSAI plans to raise additional capital through equity or debt financings to support its operations and growth strategy. **Ticker:** CSAI **Exchange:** Nasdaq Capital Market