New Risk • Jun 07
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.51m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (142% increase in shares outstanding). Market cap is less than US$10m (US$9.51m market cap). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$6.7m net loss next year). Share price has been volatile over the past 3 months (16% average weekly change). Reported Earnings • May 14
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: US$1.23 loss per share (improved from US$5.42 loss in 1Q 2025). Revenue: US$1.61m (up 38% from 1Q 2025). Net loss: US$2.47m (loss narrowed 44% from 1Q 2025). Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) exceeded analyst estimates by 23%. Revenue is forecast to grow 63% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in the US. Announcement • Apr 27
MultiSensor AI Holdings, Inc., Annual General Meeting, Jun 12, 2026 MultiSensor AI Holdings, Inc., Annual General Meeting, Jun 12, 2026. Location: at offices of haynes and boone llp, 1221 mckinney st. 4000, texas 77010., houston United States Reported Earnings • Mar 21
Full year 2025 earnings released: US$0.31 loss per share (vs US$1.07 loss in FY 2024) Full year 2025 results: US$0.31 loss per share (improved from US$1.07 loss in FY 2024). Revenue: US$5.55m (down 25% from FY 2024). Net loss: US$11.7m (loss narrowed 46% from FY 2024). Announcement • Mar 14
MultiSensor AI Holdings, Inc. has filed a Follow-on Equity Offering in the amount of $60 million. MultiSensor AI Holdings, Inc. has filed a Follow-on Equity Offering in the amount of $60 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering New Risk • Mar 01
New major risk - Revenue and earnings growth Earnings have declined by 28% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 28% per year over the past 5 years. Shareholders have been substantially diluted in the past year (150% increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$22.6m market cap). Announcement • Nov 18
MultiSensor AI Holdings, Inc. announced that it has received $13.999999 million in funding from 325 Capital, LLC and other investors. On November 17, 2025, the MultiSensor AI Holdings, Inc closed the transaction pursuant to Regulation D from 32 investors. Company paid a cash fee ($700,000) equal to 5.0% of the gross proceeds received.to Roth Capital Partners, LLC Reported Earnings • Nov 15
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: US$0.049 loss per share (improved from US$0.34 loss in 3Q 2024). Revenue: US$1.57m (down 1.7% from 3Q 2024). Net loss: US$1.68m (loss narrowed 80% from 3Q 2024). Revenue missed analyst estimates by 7.4%. Earnings per share (EPS) exceeded analyst estimates by 44%. Revenue is forecast to grow 73% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Electronic industry in the US. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 56% per year, which means it is significantly lagging earnings. New Risk • Nov 15
New major risk - Revenue and earnings growth Earnings have declined by 37% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (37% average weekly change). Earnings have declined by 37% per year over the past 5 years. Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$11m net loss next year). Market cap is less than US$100m (US$49.7m market cap). Announcement • Nov 04
MultiSensor AI Holdings, Inc. has completed a Follow-on Equity Offering in the amount of $14.43764 million. MultiSensor AI Holdings, Inc. has completed a Follow-on Equity Offering in the amount of $14.43764 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 4,595,000
Price\Range: $1.35
Security Name: Pre-funded warrants
Security Type: Equity Warrant
Securities Offered: 6,100,000
Price\Range: $1.3499
Transaction Features: Registered Direct Offering Major Estimate Revision • Aug 27
Consensus EPS estimates fall by 25% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$12.1m to US$11.9m. Losses expected to increase from US$0.34 per share to US$0.42. Electronic industry in the US expected to see average net income growth of 31% next year. Consensus price target down from US$2.50 to US$2.00. Share price rose 6.5% to US$0.73 over the past week. Reported Earnings • Aug 14
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: US$0.099 loss per share (improved from US$0.47 loss in 2Q 2024). Revenue: US$1.42m (down 33% from 2Q 2024). Net loss: US$3.32m (loss narrowed 48% from 2Q 2024). Revenue missed analyst estimates by 47%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 81% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Electronic industry in the US. Recent Insider Transactions • Jul 22
Insider recently sold US$94k worth of stock On the 21st of July, Gary Strahan sold around 125k shares on-market at roughly US$0.75 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$199k more than they bought in the last 12 months. Recent Insider Transactions • Jun 25
Insider recently sold US$57k worth of stock On the 23rd of June, Gary Strahan sold around 98k shares on-market at roughly US$0.58 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$87k more than they bought in the last 12 months. New Risk • Jun 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$22m free cash flow). Shareholders have been substantially diluted in the past year (143% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$10m net loss next year). Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (US$17.4m market cap). Announcement • May 17
MultiSensor AI Holdings Receives Letter from Nasdaq Due to Non-Compliance with the Bid Price Requirement for Continued Listing on The Nasdaq Capital Market On May 15, 2025, MultiSensor AI Holdings, Inc. (the ‘Company’) received a letter (the ‘Notice’) from the Listing Qualifications Department (the ‘Staff’) of The Nasdaq Stock Market (‘Nasdaq’) notifying the Company that, for the previous 30 consecutive business days, the closing bid price for the Company’s common stock, par value $0.0001 per share (the ‘Common Stock’), had been below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the ‘Bid Price Requirement’). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has an initial period of 180 calendar days, or until November 11, 2025 (the ‘Compliance Date’), to regain compliance with the Bid Price Requirement. If, at any time before the Compliance Date, the bid price for the Common Stock closes at $1.00 or more for a minimum of 10 consecutive business days, the Staff will provide written notification to the Company that it has regained compliance with the Bid Price Requirement (unless the Staff exercises its discretion to extend the 10-day period). If the Company is not in compliance with the Bid Price Requirement by the Compliance Date, the Company may be eligible for an additional 180 calendar day period to regain compliance with the Bid Price Requirement. To qualify for an additional compliance period, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the Bid Price Requirement, and would need to provide written notice to the Staff of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. However, if it appears to the Nasdaq staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice to the Company that its Common Stock will be subject to delisting. The Company intends to monitor the closing bid price of its Common Stock and is evaluating available options, which may include seeking to effect a reverse stock split, to resolve the noncompliance matters described herein and intends to take appropriate steps to maintain its listing on Nasdaq. However, there can be no assurance that the Company will be able to regain compliance with the Bid Price Requirement. Reported Earnings • May 15
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: US$0.14 loss per share. Revenue: US$1.17m (down 49% from 1Q 2024). Net loss: US$4.44m (loss widened 13% from 1Q 2024). Revenue missed analyst estimates by 57%. Earnings per share (EPS) also missed analyst estimates by 180%. Revenue is forecast to grow 102% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Electronic industry in the US. Announcement • Apr 28
MultiSensor AI Holdings, Inc., Annual General Meeting, Jun 04, 2025 MultiSensor AI Holdings, Inc., Annual General Meeting, Jun 04, 2025. Location: 1221 mckinney st 4000, texas 77010, houston United States Reported Earnings • Mar 30
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: US$1.07 loss per share (improved from US$3.56 loss in FY 2023). Revenue: US$7.40m (up 36% from FY 2023). Net loss: US$21.5m (loss narrowed 3.5% from FY 2023). Revenue missed analyst estimates by 36%. Earnings per share (EPS) exceeded analyst estimates by 5.3%. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Electronic industry in the US. Over the last 3 years on average, earnings per share has fallen by 55% per year whereas the company’s share price has fallen by 52% per year. Announcement • Mar 29
MultiSensor AI Holdings, Inc. has filed a Follow-on Equity Offering in the amount of $8.625 million. MultiSensor AI Holdings, Inc. has filed a Follow-on Equity Offering in the amount of $8.625 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering New Risk • Dec 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$17m free cash flow). Shareholders have been substantially diluted in the past year (155% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (US$48.4m market cap). Announcement • Nov 27
MultiSensor AI Holdings, Inc. Announces Chief Executive Officer Changes MultiSensor AI Holdings, Inc. announced a leadership transition as MultiSensor AI evolves into its goal of being a SaaS leader in Predictive Maintenance and to position the Company for its next phase of growth. The Board of Directors announced that, consistent with its succession plans, it has appointed fellow Board member Stuart Flavin, III ("Trip") to also serve as Interim Chief Executive Officer. Trip succeeds Gary Strahan who has stepped down as CEO to focus on the next phase of his professional career. New Risk • Nov 15
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$17m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$17m free cash flow). Shareholders have been substantially diluted in the past year (360% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (US$40.7m market cap). Reported Earnings • Nov 15
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: US$0.34 loss per share. Revenue: US$1.60m (up 6.9% from 3Q 2023). Net loss: US$8.20m (loss widened 336% from 3Q 2023). Revenue missed analyst estimates by 64%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 78% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Electronic industry in the US. Announcement • Nov 13
John Harnage Joins Multisensor AI as Director of Business Development for MSAI Inspection Services MSAI Inspection Services, a business unit of MultiSensor AI Holdings, Inc. announced that John Harnage, the founder of Kentucky Thermal Institute (KTI), has joined as Director of Business Development. MSAI Inspection Services was launched in April 2024 to provide a range of on-site inspections and predictive maintenance solutions for MSAI's industrial clients. Under the leadership of Carl Schultz, the business unit's Vice President, MSAI Inspection Services has experienced rapid organic growth. This growth has been fueled in part by the adoption of new annual inspection requirements by the National Fire Protection Association's Rule 70B, which requires annual inspections of the electrical infrastructure in many facilities. In addition to providing on-site inspections employing multiple sensor modalities, MSAI Inspection Services works with its clients to develop enterprise-level demand for MSAI's core predictive-maintenance business. Having founded KTI in Bowling Green, Kentucky in 2008, John Harnage is well established as a leader in the inspection services and training industries. He has experience and certifications in multiple sensor modalities (including as a Level II thermographer) and has focused primarily on providing services in the industrial, education, and construction sectors. Through KTI, Mr. Harnage is also a leader in technical training, having trained more than 800 thermographers over the last 7 years, and having developed accredited thermography courses through the University of Louisville, Western Kentucky University, and the Kentucky Fire Commission. Reported Earnings • Aug 16
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: US$0.47 loss per share. Revenue: US$2.13m (up 59% from 2Q 2023). Net loss: US$6.39m (loss widened US$5.74m from 2Q 2023). Revenue missed analyst estimates by 34%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 68% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Electronic industry in the US. Announcement • Jun 08
MultiSensor AI Holdings, Inc. has filed a Follow-on Equity Offering in the amount of $10 million. MultiSensor AI Holdings, Inc. has filed a Follow-on Equity Offering in the amount of $10 million.
Security Name: Common Stock
Security Type: Common Stock New Risk • May 19
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 165% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Shareholders have been substantially diluted in the past year (165% increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$34.7m market cap). Reported Earnings • May 16
First quarter 2024 earnings released: US$0.33 loss per share (vs US$5.65 loss in 1Q 2023) First quarter 2024 results: US$0.33 loss per share. Revenue: US$2.28m (up 132% from 1Q 2023). Net loss: US$3.92m (loss widened 35% from 1Q 2023). Revenue is forecast to grow 63% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Electronic industry in the US. Announcement • May 01
MultiSensor AI Holdings, Inc., Annual General Meeting, Jun 17, 2024 MultiSensor AI Holdings, Inc., Annual General Meeting, Jun 17, 2024, at 10:00 Central Standard Time. Agenda: To elect Margaret Chu, Stuart V. Flavin III, David Gow, Petros Kitsos, Reid Ryan and Steven Winch as directors to hold office until the Company’s annual meeting of stockholders to be held in 2025 and until their respective successors have been duly elected and qualified; to ratify the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for 2024; to approve, for purposes of complying with Nasdaq listing Rule 5635(d), the issuance of the maximum number of shares of common stock issuable by the Company pursuant to its equity line of credit with B. Riley Principal Capital II, LLC; to approve an adjournment of the Annual Meeting, if necessary, to solicit additional proxies if there are not sufficient votes at the time of the Annual Meeting to approve Proposal No. 3; and to discuss other matters. Announcement • Apr 17
MultiSensor AI Holdings, Inc. announced that it expects to receive $25 million in funding from B. Riley Principal Capital II, LLC MultiSensor AI Holdings, Inc. entered into a common stock purchase agreement with returning investor B. Riley Principal Capital II, LLC for issuance of common shares, par value $0.0001 per share for gross proceeds of up to $25,000,000 on April 16, 2024. Reported Earnings • Apr 02
Full year 2023 earnings released: US$3.56 loss per share (vs US$2.51 loss in FY 2022) Full year 2023 results: US$3.56 loss per share (further deteriorated from US$2.51 loss in FY 2022). Revenue: US$5.43m (down 25% from FY 2022). Net loss: US$22.3m (loss widened 68% from FY 2022). Announcement • Feb 22
MultiSensor AI Holdings Receives Non-Compliance Notice from Nasdaq Regarding Market Value of Listed Securities On February 13, 2024, MultiSensor AI Holdings, Inc. received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company is not in compliance with the requirement to maintain a minimum Market Value of Listed Securities (“MVLS”) of $50 million, as set forth in Nasdaq Listing Rule 5450(b)(2)(A) (the “MVLS Requirement”), because the MVLS of the Company was below $50 million for the 30 consecutive business days prior to the date of the Notice. Nasdaq further indicated that, as of the date of the Notice, the Company did not comply with certain requirements under the alternative standards set forth in Nasdaq Listing Rule 5450(b)(3)(A) for continued listing on the Nasdaq Global Market. The Notice is in addition to the previously disclosed letter received on December 20, 2023, indicating that the Company had not complied with all of the requirements of the Nasdaq Rule IM-5101-2 since it has not demonstrated compliance with the requirement to have a minimum of 1.1 million “unrestricted publicly held shares” and a minimum of 400 “round lot holders” as required by the Nasdaq Listing Rule 5405(a) for initial listing on the Nasdaq Global Market. The Notice does not impact the listing of the Common Stock on The Nasdaq Global Market at this time. The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has a period of 180 calendar days from the date of the Notice, or until August 12, 2024, to regain compliance with the MVLS Requirement. During this period, the Common Stock will continue to trade on The Nasdaq Global Market. If at any time before August 12, 2024 the MVLS closes at $50 million or more for a minimum of ten consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the MVLS Requirement and the matter will be closed. In the event that the Company does not regain compliance by August 12, 2024, the Company will receive written notification that its securities are subject to delisting. At that time, the Company may appeal the delisting determination to a Hearings Panel. The Notice provides that the Company may be eligible to transfer the listing of its securities to The Nasdaq Capital Market (provided that it then satisfies the requirements for continued listing on that market). The Company intends to actively monitor its MVLS and will evaluate available options to regain compliance with the MVLS Requirement. However, there can be no assurance that the Company will be able to regain compliance with the MVLS Requirement or maintain compliance with any of the other Nasdaq continued listing requirements. Announcement • Feb 16
MultiSensor AI Holdings, Inc. Unveils SmartIR 2.0 Software Platform MultiSensor AI Holdings, Inc. announced that it has released the next generation of its software, SmartIR. The release of SmartIR 2.0 marks a significant milestone in MultiSensor AI's mission: to empower industrial organizations with predictive, AI-powered solutions for advanced asset reliability, process control, and employee health and safety. SmartIR 2.0 offers enhanced capabilities and features designed to meet the evolving needs of organizations in MultiSensor AI's core industry verticals: warehouse & logistics, oil & gas, manufacturing and utilities. Key features of SmartIR 2.0 include: Expanded 'Single-Pane-of-Glass' Capabilities: SmartIR 2.0 boasts a 100% increase in integrated sensor modalities, providing users with a comprehensive view of their assets and infrastructure from a single interface. AI-Powered Analytics: Enhanced analytics capabilities empower users to derive deeper insights from sensor data, with new interactive charting tools for analyzing sensor and imaging patterns and trends. Live Multi-Region Temperature Monitoring: Real-time temperature monitoring across multiple regions provides users with invaluable insights into thermal conditions. Expanded Long-Term Sensor Data Capture: SmartIR 2.0 extends the duration of sensor data capture, enabling users to track asset performance over extended periods. Computer Vision Tools: SmartIR 2.0 includes expanded computer vision tools, including high-resolution thermal object detection and real-time thermal motion detection. Expanded Enterprise Asset Management (EAM) Integrations: SmartIR 2.0 seamlessly integrates with leading EAM systems, facilitating streamlined asset management workflows. New Asset and Area-of-Interest (AOI) Sensor Insight Integration: Users can now integrate asset and AOI-based sensor insights into their monitoring and analysis processes. Customizable View Settings: SmartIR 2.0 offers customizable view settings for the Workstation and Alerts dashboard, enabling users to tailor their experience to their specific needs. SmartIR 2.0 is available now. Board Change • Dec 31
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Director Stuart Flavin is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.