---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-024775"
form_type: "8-K"
ticker: "AITX"
cik: "0001498148"
company_name: "Artificial Intelligence Technology Solutions Inc."
filed_at: "2023-07-18T23:59:59+00:00"
generated_at: "2026-06-13T06:59:59.087481+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# AITX reports Q1 gross profit $293,697 (+221% YoY), margin 76%, plans $30M equity raise

## Summary
- Gross profit $293,697 vs $91,433 in Q1 FY2023; gross margin up to 76% from 24%.
- Operating expenses $3.24M, down 10% YoY; stock-based comp and wages reduced.
- Plans to raise up to $30M via share issuance over next year for growth and debt reduction.
- Orders for 29 ROSA units and 6 AVA access control solutions; added 6 dealers.
- Won contract with HPS GPO covering 4,300+ members in 33 states; deployments at hospital and Fox TV show.

## SEC filing metadata
- accession: 0001493152-23-024775
- form_type: 8-K
- ticker: AITX
- cik: 0001498148
- company_name: Artificial Intelligence Technology Solutions Inc.
- filed_at: 2023-07-18T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1498148/000149315223024775/0001493152-23-024775-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1498148/000149315223024775/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-024775
- JSON: https://secwatch.observer/filing/0001493152-23-024775.json
- Plain text: https://secwatch.observer/filing/0001493152-23-024775.txt

## Key facts
- Earnings Releases
  Artificial Intelligence Technology Solutions Inc. reported financial results for Q1 FY 2024 (three months ended May 31, 2023).
  - Period: Q1 FY 2024 (three months ended May 31, 2023)
  - Result: reported results
  source text: today reported a gross profit of $293,697, representing a significant increase compared to the same quarter last year (Q1 FY 2023), which recorded a gross profit of $91,433. This demonstrates a year-over-year (YoY) growth of approximately 221%. AITX is a ‘fully reporting SEC company that files detailed annual and quarterly reports with the SEC. The Company’s first quarter of FY 2024 began March 1, 2023, and ended May 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1498148/000149315223024775/0001493152-23-024775-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.