ScanTech AI Systems Inc. SEC 10-Q Report

ScanTech AI Systems Inc., a leading provider of advanced security screening systems, has released its Form 10-Q report for the second quarter of 2025. The report highlights the company's financial performance and operational activities, reflecting both growth opportunities and ongoing challenges in the highly competitive security technology industry.

Financial Highlights

• Revenue: $1.23 million, reflecting an increase from the previous year, indicating growth in sales activities.
• Gross Margin: $0.37 million, showing an improvement in cost management and efficiency.
• Loss from operations: $(8.71) million, highlighting ongoing challenges in managing operating expenses.
• Net loss: $(23.81) million, indicating continued financial challenges and the need for strategic adjustments.
• Basic and diluted net loss per share: $(0.72), reflecting the impact of the net loss on shareholder value.

Business Highlights

• Revenue Segments: The company has one reportable operating segment, focusing on the sale of CT Sentinel scanning systems. All revenue for the three and six months ended June 30, 2025, was recognized at point-in-time upon customer acceptance.
• Geographical Performance: Currently, the company has only one revenue contract, all of which relates to a customer located in North America.
• Sales Units: The company acts as a principal in transactions involving baggage scanning systems, which include fixed gantry detectors, image-processing units, and conveyance systems sold as a combined package.
• New Product Launches: The company is developing and deploying security screening systems, including a proprietary Computed Tomography scanning system designed to detect explosives, weapons, narcotics, and other contraband.
• Future Outlook: The company's business plan is dependent on securing customer agreements, achieving the Transportation Safety Administration’s APSS 6.2 certification, and raising capital to fund operations. The company is expected to continue incurring losses and may never achieve profitability unless it secures sufficient revenues to support its cost structure.

SEC Filing: ScanTech AI Systems Inc. [ STAI ] - 10-Q - Sep. 17, 2025