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MultiSensor AI Holdings Inc

investors.multisensorai.com

What Do They Do?

Sells sensor hardware and software for monitoring industrial equipment, helping distribution and logistics, manufacturing, and data center customers detect problems early.

How Do They Make Money?

Customers buy sensor hardware, with sales counted when the customer receives the equipment. Cloud subscribers generally pay in advance for access over time; on-premises software is sold as licenses for a set term or without an end date, with sales counted upfront when delivered.

revenue
SegmentShareRevenue
Hardware
Sold outright

58%
FY2022: 92%
Software
Mix

34%
FY2022: 4.8%
Ancillary Services
8.2%
FY2022: 3.3%

Who Are Their Customers?

Customers include distribution and logistics, manufacturing, and data center businesses. The company sells mainly through direct engagement with enterprise and strategic accounts, while distributors and channel partners extend regional coverage and support installation.

Customers above 10% of revenue, FY2025
of revenue from one customer
FY2024: 47% from three customers

Do Revenues Turn Into Profits?

No. It lost $11.7M in FY2025.

Operating income, FY2025
−216% of revenue
▼ −36% (Loss) vs FY2024 (−$18.9M, −255%)
Net income, FY2025
−211% of revenue
▼ −46% (Loss) vs FY2024 (−$21.5M, −290%)
Free cash flow, FY2025
−174% of revenue
▼ −47% (Loss) vs FY2024 (−$18.2M, −246%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▲ +19%
vs $1.4M in Q2 FY2025
Net income
▼ −26% (Loss)
vs −$3.3M in Q2 FY2025
Hardware share of revenue vs 61.6% in Q2 FY2025

Sports tech to industrial monitoring The older report described a blank-check company seeking a sports-technology target, including fan engagement, athlete health, esports, and fantasy sports and gambling. The latest report describes a business selling industrial condition-monitoring and early-threat detection solutions.

Revenue over time
Hardware Software Ancillary Services
$10M$5M$0

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