The company’s preliminary report for the period ending September 30 estimates revenue between $24.5 million and $26.5 million. This growth is driven primarily by its AI robotics division, which accounts for up to $24 million of that figure, while construction projects contributed the remaining $1.5 million to $2.5 million. Furthermore, Xtend disclosed a robust AI robotics backlog of $84 million, signaling sustained demand heading into the final quarter.
In section Market Quotes
Xtend AI Robotics Shares Surge on Strong Preliminary Earnings
Shares of Tampa-based Xtend AI Robotics jumped 27% on Monday as the company reported nine-month revenue that already eclipses its total earnings for all of last year. Despite this mid-day rally to $2.25, the stock remains down nearly 69% since its September debut on the New York Stock Exchange.
Alongside the financial update, the firm announced a shift in its leadership structure by appointing Matt McGraw as chief executive of its U.S. segment. McGraw, a retired U.S. Navy SEAL captain with over 25 years of service, joins the company following his tenure as vice president of operations at Live Earth Imaging.
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