Cloudastructure Announces Direct Listing on the Nasdaq Capital Market; Shares Begin Trading Under the Symbol CSAI
'We are pleased to announce that Cloudastructure's common shares are now trading on the Nasdaq Capital Market,' said James McCormick, Chief Executive Officer of Cloudastructure. 'This milestone represents a transformative moment for our Company, providing an opportunity to showcase our innovative, AI-driven, cloud-based security solutions to a wider audience of investors. Listing on Nasdaq elevates our visibility and reinforces our commitment to revolutionizing intelligent security with scalable, cost-effective technology as we strive to set the global standard in AI-powered surveillance. This achievement is a testament to the dedication and hard work of the entire Cloudastructure team. Today marks the beginning of an exciting new chapter, and we look forward to the opportunities that lie ahead.'
'Cloudastructure is strategically positioned at the intersection of three of the world's fastest-growing industries: Artificial Intelligence, Public Cloud, and Security. The global AI market, has been estimated by some analysts to be at $500 billion as of 2023, and growing at an impressive 19% annually, while the public cloud market, was projected at $490 billion, and expanding even faster at 20.7%. Meanwhile, the estimated $188 billion security market continued its steady 11% annual growth. Operating at the convergence of these dynamic sectors, Cloudastructure is driving a transformative shift by delivering innovative, scalable, and cost-effective security solutions tailored to the demands of these rapidly evolving industries.'
'As of September 30, 2024, our sales pipeline was extremely robust, as evidenced by three consecutive quarters of extraordinary revenue growth compared to the same periods in 2023—214% in Q1, 115% in Q2, and 54% in Q3. This strong pipeline gives us tremendous confidence in the outlook for the business as we continue to execute our growth strategy. Moreover, we now have 5 of the top 10 NMHC-ranked multifamily management companies as clients, controlling over 10,000 locations, and we have the capacity to onboard approximately 20 locations per month. As a result, we believe we are strategically positioned to become cash flow positive in 2025, illustrating the scalability and strength of our business model.'
'Cloudastructure is entering a pivotal and promising phase in its journey. With a strong foundation built on innovative AI-driven technology and a robust sales pipeline, the Company is well-positioned to capitalize on its momentum. As we continue to scale operations, expand our client base, and drive sustainable growth, we remain committed to delivering exceptional long-term value to our shareholders, as well as setting new benchmarks in intelligent security solutions. The future for Cloudastructure is bright, and this is only the beginning,' concluded Mr. McCormick.
Maxim Group LLC acted as the exclusive financial advisor to Cloudastructure in connection with the direct listing.
ABOUT CLOUDASTRUCTURE
Headquartered in Palo Alto, California, Cloudastructure's advanced award-winning security platform utilizes a scalable cloud-based architecture that features cloud video surveillance with proprietary, state-of-the-art AI/ML analytics, and a seamless remote guarding solution. The combination enables enterprise businesses to achieve proactive, end-to-end security, and pairs that platform with an attractive value proposition that eschews proprietary hardware and offers contract-free, month-to-month pricing and unlimited 24/7 support. With Cloudastructure, companies can achieve unparalleled situational awareness in real time and thereby stop crime as it is happening, while simultaneously achieving up to a 75% lower Total Cost of Ownership than other systems. For more information, visit https://www.cloudastructure.com/.
Forward-Looking Statements
Certain statements in this press release may be considered forward-looking, such as statements containing estimates, projections, and other forward-looking information. Forward-looking statements are typically identified by words and phrases such as 'anticipate,' 'estimate,' 'believe,' 'continue,' 'could,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'seek,' 'should,' 'will,' 'would,' 'expect,' 'objective,' 'projection,' 'forecast,' 'goal,' 'guidance,' 'outlook,' 'effort,' 'target' or the negative of such words and other comparable terminology. However, the absence of these words does not mean that a statement is not forward-looking. Any forward-looking statements expressing an expectation or belief as to future events is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future events and involve risks, uncertainties, and other factors beyond our control. Therefore, we caution you against relying on any of these forward-looking statements. Actual outcomes and results may differ materially from what is expressed in any forward-looking statement. Except as required by applicable law, including U.S. federal securities laws, we do not intend to update any of the forward-looking statements to conform them to actual results or revised expectations.
Media Contact:
Kathleen Hannon
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Investor Contacts:
Crescendo Communications, LLC
212-671-1020
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