Maris-Tech Ltd. (MTEK) has released an update.
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Maris-Tech Ltd. reported significant financial growth for the full year of 2023, with revenues soaring by 60% to approximately $4.0 million and a substantial gross profit increase of 138%. Despite this revenue growth, the company experienced a net loss, which decreased by 27% compared to the previous year. Highlighting their strategic advancements and major milestones, Maris-Tech’s CEO emphasized their expanding global footprint and the strong demand for their AI-accelerated video solutions, which is reflected in their substantial backlog growth.
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