There are a number of companies one could follow if one is looking for innovative companies, and one of those is Realbotix Corp. (OTC: XBOTF). The company, which is involved in the companionship-based AI and humanoid robotics space, was in the news cycle on Tuesday after it announced its financial results for the fiscal year that ended on September 30, 2024.
The Performance
In the fiscal year, the company generated revenues of $1.3 million, which reflected growth of a whopping 378% from the revenues of $268,000 in the previous fiscal year. The revenues in the 2024 fiscal year also included the full quarter of revenues that accrued to the company through the Simulacra acquisition. The total assets under its control went up by 24% from the previous year, and the digital assets and cash balance at the end of the period commanded a valuation of $9.7 million in aggregate.
Further Details
In this regard, it should be noted that in April last year the company completed the crucial acquisition of Simulacra Corporation, and in July the shareholders approved a complete rebrand of the business as the company came to be known as Realbotix Corp. It will be interesting to see if the stock gains any traction this week.
Key Quote
“Since our last year-end in September 2023, we have expanded into AI and robotics,” said Andrew Kiguel, CEO of Realbotix. “As part of this change and completing this audit, management had different views than our auditors with respect to a $9.3 million write-down with respect to the value around our IP, technology, and certain assets such as our domain names the prior year. Management believes that there is substantial value in the business, technology, and patents that were not recognized.”
