Broad-Based Sales Growth: New Customers Up 30%, Subscriptions Up 48%, Remote Guarding Up 404%, Hardware Sales Up 250%
AI Surveillance Platform Proves Effective, Scalable, and Regulation-Ready
PALO ALTO, CA, March 31, 2025 (GLOBE NEWSWIRE) -- Cloudastructure, Inc. (Nasdaq: CSAI) (“we,” “us,” “our,” “Cloudastructure” or the “Company”), a cloud-based video surveillance platform with artificial intelligence (“AI”) and computer vision analytics, today provided a business update and reported financial results for the year ended December 31, 2024.
“2024 marked a pivotal year for Cloudastructure as we achieved strong financial and operational milestones,” said James McCormick, Chief Executive Officer of Cloudastructure. “We increased revenue by 125% year-over-year, turned a gross loss into a gross profit, and significantly reduced operating expenses—demonstrating the scalability and efficiency of our model. Growth was broad-based across all segments: new locations increased by 30%, cloud video surveillance subscription revenue grew by 48%, remote guarding revenue surged 404%, and hardware sales climbed 250%. These results highlight the strength of our recurring revenue model and the growing demand for intelligent, cloud-based security. As we enter 2025, we are energized by the continued support of our customers, partners, and investors, and remain focused on delivering cost-effective, AI-driven solutions that drive long-term value.”
Demand for Cloudastructure’s AI-driven surveillance and remote guarding platform continues to grow, fueled by rising security concerns and expanding regulatory mandates in the real estate sector. In early 2025, the Company secured several high-profile contracts, including a deployment for a $1 billion residential investment firm at two major multifamily properties in the Washington, D.C. metro area. This engagement reflects a broader industry shift toward cloud-based security solutions that integrate safety, compliance, and operational efficiency. In addition, the Company strengthened its position in the multifamily sector with new customer wins and expanded deployments. A leading property management group deployed the platform across additional properties to meet updated video surveillance requirements. Additionally, a top U.S. multifamily investment firm, managing over 60,000 units, placed its largest order to date, underscoring the value of Cloudastructure’s AI-security solution.
In January 2025, Cloudastructure began trading its Class A common shares on the Nasdaq Capital Market through a direct listing—providing liquidity to existing shareholders without the dilution of a traditional IPO. The listing reflects the Company’s commitment to transparency, operational discipline, and long-term value creation, while enhancing visibility with public market investors.
To improve its cost structure and sustainability, Cloudastructure partnered with a crypto-mining company to transition AI hosting into a renewable energy-powered data center near Glacier Park, Montana. By leveraging low-cost hydroelectric power and naturally cool temperatures, the facility reduced data processing costs by more than 50% while lowering the Company’s carbon footprint.
Cloudastructure also expanded its cloud video surveillance platform and market reach through strategic partnerships and innovation. In collaboration with RVMP®, the Company launched Alpha™, a solar-powered mobile surveillance trailer equipped with AI analytics, remote guarding, and real-time monitoring—delivering a 97% deterrence rate in hard-to-secure locations such as construction sites and storage yards. To support accelerating demand, the Company plans to double its salesforce in 2025, expanding its reach across real estate, construction, and commercial sectors.
“2024 was a year of execution and transformation for Cloudastructure,” continued Mr. McCormick. “We launched new solutions, formed strategic partnerships, and expanded our footprint in key verticals. As crime rates rise and compliance requirements become more complex, our AI-powered surveillance and remote guarding platform continues to deliver real-time deterrence, scalability, and measurable ROI.”
“We entered 2025 with strong momentum and the trust of our customers. In addition, our Nasdaq direct listing marked a major milestone, boosting visibility and positioning us for accelerated growth. With a scalable platform, improving margins, and a clear path to cash flow positivity, we believe that we are well-prepared to lead the future of cloud-based AI security. Looking ahead, we remain committed to disciplined execution and building long-term shareholder value through sustainable growth and operational excellence.”
Financial Results for the Year Ended December 31, 2024
Revenue for the year ended December 31, 2024, totaled $1.4 million, a 125% increase from $0.6 million in 2023. Growth was driven by a 30% increase in new customer signings, with cloud video surveillance subscriptions up 48%, remote guarding up 404%, and hardware sales rising 250% year-over-year.
Cost of goods sold was $1.0 million, compared to $0.7 million in the prior year. The increase was primarily due to higher hardware and installation volumes, partially offset by a 37% reduction in hosting costs.
Gross profit was $0.4 million for 2024, compared to a gross loss of approximately $0.1 million in 2023, marking a significant improvement in gross margin performance.
General and administrative expenses were $1.2 million in 2024, compared to $2.4 million in 2023. The decline reflects reductions in consulting fees, payroll, and other operating expenses.
Net loss for 2024 was $6.5 million, or ($0.45) per share, compared to a net loss of $9.0 million, or ($0.60) per share, in 2023. The improvement was driven by revenue growth and operating efficiency.
The full financial results for the year ended December 31, 2024, are available in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission and accessible at: www.sec.gov, and on the Company’s website at: cloudastructure.com.
About Cloudastructure
Headquartered in Palo Alto, California, Cloudastructure’s advanced, award-winning security platform utilizes a scalable cloud-based architecture that features cloud video surveillance with proprietary AI/ML analytics and a seamless remote guarding solution. This combination enables enterprise businesses to achieve proactive, end-to-end security while benefiting from a cost-effective model that eliminates proprietary hardware, offers contract-free month-to-month pricing, and includes unlimited 24/7 support. With Cloudastructure, companies can stop crime as it happens while achieving up to a 75% lower Total Cost of Ownership than other systems.
Certain statements in this press release may be considered forward-looking, such as statements containing estimates, projections and other forward-looking information. Forward-looking statements are typically identified by words and phrases such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” or the negative of such words and other comparable terminology. However, the absence of these words does not mean that a statement is not forward-looking. Any forward-looking statements expressing an expectation or belief as to future events is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future events and involve risks, uncertainties and other factors beyond our control. Therefore, we caution you against relying on any of these forward-looking statements. Actual outcomes and results may differ materially from what is expressed in any forward-looking statement. Except as required by applicable law, including U.S. federal securities laws, we do not intend to update any of the forward-looking statements to conform them to actual results or revised expectations.
Media Contact: Kathleen Hannon Sr. Communications Director Cloudastructure, Inc. Kathleen@cloudastructure.com (704) 574-3732
