Scantech AI Systems Inc

scantechais.com

What Do They Do?

Sells fixed-gantry security scanners that detect contraband for airport checkpoints, government facilities and private venues.

How Do They Make Money?

A distributor pays for baggage-scanning systems in milestone payments at contract start, delivery and customer acceptance; the systems are sold once accepted. Bins are sold when shipped, while operating-system updates are provided over the scanners’ expected ownership life.

FY2024 revenue

Who Are Their Customers?

It sells baggage-scanning systems to a distributor, which sells them to end users; its reported revenue contract is with a customer in North America.

Do Revenues Turn Into Profits?

No. It lost $23.1M in FY2024.

Operating income, FY2024

−1645% of revenue

▼ −7% (Loss) vs FY2023 (−$9.6M)

Net income, FY2024

−4254% of revenue

▼ −35% (Loss) vs FY2023 (−$35.5M)

Free cash flow, FY2024

−1222% of revenue

▲ +22% (Loss) vs FY2023 (−$5.4M)

How Are They Changing?

Since the FY2024 annual report

Latest quarter: Q3 FY2025, the three months to Sep 30, 2025

Revenue
Net income: ▼ −59% (Loss); vs −$23.4M in Q3 FY2024

Feb 10, 2026 Nasdaq denied continued listing and scheduled a trading suspension The company said it was exploring an appeal and intended to apply for OTCQB quotation.
Jan 21, 2026 Company dismissed BPB and appointed CRI as independent auditor The filing also described a restatement of its financial statements for the six months ended June 30, 2025.

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