Maris-Tech Ltd. (MTEK) has released an update.
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Maris-Tech Ltd. has reported a remarkable 620% revenue increase to $3.4 million for the first half of 2024, a significant upturn from the previous year’s losses, alongside a net profit of $132 thousand. The company attributes its success to strategic partnerships and burgeoning defense sector contracts, indicating a strong market position in video and AI-based edge computing technologies. With a solid working capital and a growing backlog of orders, Maris-Tech is positioning for further growth and market expansion.
For further insights into MTEK stock, check out TipRanks’ Stock Analysis page.
