Artificial Intelligence Technology Solutions Inc. (AITX) Financial Statements (2024 and earlier)

Company Profile

Business Address 10800 GALAXIE AVENUE
FERNDALE, MI 48220
State of Incorp. NV
Fiscal Year End February 28
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

8/31/2023
MRQ
2/28/2023
11/30/2022
MRQ
2/28/2022
2/28/2021
2/29/2020
2/28/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments9407134,6481,0441321
Cash and cash equivalents9407134,6481,0441321
Receivables265464429995040
Inventory, net of allowances, customer advances and progress billings1,6381,5731,5316425273
Inventory1,6381,5731,5316425273
Prepaid expense596673442  19
Other undisclosed current assets      13
Total current assets:3,4393,4247,0501,20788367
Noncurrent Assets
Operating lease, right-of-use asset1,2081,2411,33248 
Property, plant and equipment316312138351637
Other undisclosed noncurrent assets1,3341,142759278239187
Total noncurrent assets:2,8582,6962,229360255224
TOTAL ASSETS:6,2976,1199,2791,567344591
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1,3431,1669691,3741,1451,486
Interest and dividends payable  2,7791,391
Taxes payable 2392,7791,391
Accrued liabilities2,79051    
Other undisclosed accounts payable and accrued liabilities(1,446)1,1159691,135(4,413)(1,295)
Deferred revenue10210111010
Debt9,9202,4821,0101,1427,3115,819
Derivative instruments and hedges, liabilities   84446,8916,170
Due to related parties 12790884656783
Other undisclosed current liabilities4,7766932,4615563,6641,475
Total current liabilities:16,0504,4704,5484,41119,67715,744
Noncurrent Liabilities
Long-term debt and lease obligation15,55423,72921,3678,87270403
Long-term debt, excluding current maturities15,55423,72920,3098,86870403
Liabilities, other than long-term debt9511,115    
Operating lease, liability9511,1151,0584 
Other undisclosed noncurrent liabilities5,5867,3003,2832,8251,703276
Total noncurrent liabilities:22,09032,14425,70811,7001,773679
Total liabilities:38,14036,61530,25516,11121,45016,423
Equity
Equity, attributable to parent, including:(31,843)(30,496)(20,976)(14,544)(21,106)(15,832)
Common stock5853473202
Additional paid in capital80,24776,42173,01616,7654,3353,394
Accumulated deficit(112,254)(107,074)(94,144)(31,522)(25,623)(19,409)
Other undisclosed equity, attributable to parent105105105181182182
Total equity:(31,843)(30,496)(20,976)(14,544)(21,106)(15,832)
TOTAL LIABILITIES AND EQUITY:6,2976,1199,2791,567344591

Income Statement (P&L) ($ in thousands)

8/31/2023
TTM
2/28/2023
11/30/2022
TTM
2/28/2022
2/28/2021
2/29/2020
2/28/2019
Revenues1,3321,4261,447361261115
Cost of revenue(678)(631)(473)(98)(84)(5)
Gross profit:654796974263177110
Operating expenses(13,345)(13,334)(14,346)(3,258)(1,960)(3,525)
Operating loss:(12,691)(12,538)(13,372)(2,995)(1,783)(3,414)
Nonoperating income (expense)(5,419)(14,758)(48,826)(2,904)(4,431)19,509
Interest and debt expense(5,426)(14,765)(16,129)(3,380)(3,465)(6,747)
Income (loss) from continuing operations:(23,536)(42,061)(78,327)(9,279)(9,679)9,348
Income (loss) before gain (loss) on sale of properties:(36,704)(78,327)(9,279)(9,679)9,348
Net income (loss):(23,536)(42,061)(78,327)(9,279)(9,679)9,348
Other undisclosed net income attributable to parent5,42614,76516,1293,3803,4656,747
Net income (loss) available to common stockholders, basic:(18,109)(27,296)(62,197)(5,899)(6,214)16,095
Interest on convertible debt47(7)251,6481,300749
Other undisclosed net income (loss) available to common stockholders, diluted(4)(674)(372)1761,127(26,039)
Net income (loss) available to common stockholders, diluted:(18,066)(27,977)(62,545)(4,075)(3,787)(9,196)

Comprehensive Income ($ in thousands)

8/31/2023
TTM
2/28/2023
11/30/2022
TTM
2/28/2022
2/28/2021
2/29/2020
2/28/2019
Net income (loss):(23,536)(42,061)(78,327)(9,279)(9,679)9,348
Comprehensive income (loss), net of tax, attributable to parent:(23,536)(42,061)(78,327)(9,279)(9,679)9,348

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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