VANCOUVER, BC, May 30, 2024 /CNW/ - With its highest-ever quarterly result for software sales, ("infinitii ai" or the "Company") (CSE:IAI) (FSE: 7C5) (OTC:CDTAF), today released financial and operational highlights for the period ended March 31, 2024. A complete set of March 31, 2024 Consolidated Financial Statements and Management's Discussion & Analysis has been filed at www.sedarplus.ca. The Company is a leader AI-driven predictive analytics software for Smart City water and Smart Industry infrastructure applications that rely on time-series data. Management commentary "The infinitii ai team has delivered another solid quarter, achieving our highest-ever quarterly revenue for software sales, setting the stage for further growth," said CEO Jean Charles Phaneuf. "Double-digit sales growth was driven by strategic customer and U.S. partnership successes alongside rigorous cost management." Highlights of the quarter included winning competitive bids in the Greater Toronto and Hamilton Area ("GTHA") with AECOM and SCG Flowmetrix Technical Services Inc. ("SCG Flowmetrix") for wastewater flow monitoring, data collection and predictive analytics, a professional services contract and U.S. go-to-market partnership with TREKK Design Group, LLC ("TREKK") for underground-camera-based storm surveillance monitoring, and entering into a new fintech vertical through a professional services contract with Inverite Insights Inc. Financial highlights and year-over-year results for F2024-Q3 The Company generated $675,484 in revenues for the three-month period ended March 31, 2024, compared to $573,404 for the three-month period ended December 31, 2023, an 18% increase Monthly average revenue from contracted and subscription customers for the three-month period ended March 31, 2024, increased by 16% compared to the three-month period ended March 31, 2023 The Company generated $1,783,032 in revenues for the nine-month period ended March 31, 2024, compared to $1,541,345 for the period ended March 31, 2023, a 16% increase. The Company's loss for the three-month period ended March 31, 2024 was $188,928, compared to $349,031 for the three-month period ended December 31, 2023, a 46% decrease Operating expenses of $2,577,686 for the nine-month period ended March 31, 2024, declined 30% compared to $3,660,427 in the nine-month period ended March 31, 2023 During the nine-month period ended March 31, 2024, the cash required by the Company's operating activities of $650,659 decreased by 38% compared to the same period in the previous year as management continued to make judicious use of cash to focus on capturing revenue opportunities from product and services initiatives aimed at new partnerships and vertical markets The Company continued to make significant progress on sales and professional services contracts in the quarter ended March 31, 2024 as well as on a moving-forward basis.