IIOT-OXYS, Inc. Announces Financial Performance for Fiscal Year Ending 2023, Highlighting AI and IIOT Solutions

IIOT-OXYS, Inc., a technology company specializing in IIOT, AI, and edge computing, reported its financial results for the full year ended December 31, 2023. The company provides AI-driven solutions across industries, including medical/pharmaceutical, manufacturing, and defense, focusing on machine uptime and operational efficiency. Through its subsidiaries, OXYS Corporation and HereLab, Inc., it develops domain-specific AI and hardware/software products to deliver mission-critical insights and improve industrial and environmental practices.

The technology landscape is rapidly evolving, and IIOT-OXYS, Inc. (OTC PINK: ITOX), a leading player in Industrial Internet of Things (IIOT), Artificial Intelligence (AI), and edge computing, is making strides in this dynamic market. With a focus on machine uptime and operational efficiency, the company reported robust financial results for the full year ended December 31, 2023 [1].

IIOT-OXYS' first quarter of 2023 marked four consecutive quarters of strong revenue growth [1]. This upward trend is expected to continue, with the company anticipating year-over-year revenue growth exceeding 2022 levels. While complete financials for 2022 will be disclosed in their Annual Report on Form 10-K, the positive outlook for 2023 is based on the impressive Q1 results and several tailwinds.

One of the primary revenue drivers for IIOT-OXYS is their DOT Bridge Monitoring project [1]. This project, which contributed a strong revenue stream throughout 2023, is expected to yield further extensions and expansions in the second half of the year. Additionally, the Smart Manufacturing CNC Proof-of-Concept (POC), which began in January 2023 and concluded later in the month, has already produced impressive results. A Software-as-a-Service (SaaS) contract is expected to follow, contributing to revenue by the second half of 2023.

New collaborative contracts signed earlier in the year, prospective Smart Manufacturing POCs, and additional Structural Health Monitoring projects, among other initiatives, are also expected to boost sales growth throughout 2023.

Despite these positive developments, IIOT-OXYS faced a minor setback in early March when two Senior Secured Notes matured with early-stage investors [1]. Although extension terms were not reached by March 21st, the company believes these are friendly, supportive investors who have extended their notes several times in the past. Final extension terms are expected to be reached soon.

In conclusion, IIOT-OXYS, Inc. is poised for a successful year in 2023, with strong financial performance and promising growth opportunities. The company's focus on delivering excellent value to their customers and diligently building shareholder confidence and value aligns well with the current market trends and their commitment to innovation.

References:
[1] https://www.sec.gov/Archives/edgar/data/1290658/000168316823002257/iiot_ex9901.htm

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