CSAINasdaqServices-Computer Programming, Data Processing, Etc.US GAAP · USD

Cloudastructure, Inc

Cloudastructure, Inc. is a Delaware-based software and services company that provides cloud-based AI video surveillance and remote guarding solutions. Its platform combines machine learning, cloud video monitoring, and security operations to help property owners and managers oversee multiple sites in real time. The company has focused its commercial efforts on the property management and proptech market, including contracts with several large multifamily housing operators. In 2025 it also formed a wholly owned subsidiary in India to support remote guarding operations, reflecting a mix of U.S.-based sales and distributed service delivery.

Revenue5.1m USD
+271.3 %y/y
Operating profit (EBIT)-8.1m USD
−31.6 %y/y
EBIT margin-160.8%
+293.0 ppy/y
Net income-8.5m USD
−29.5 %y/y
Free cash flow-7.2m USD
−118.9 %y/y

Fiscal year 2025 · change from previous year

Development 2023–2025

-10-50510m USD2023: 0.61 m USD2023: EBIT -8.7 m USD20232024: 1.4 m USD2024: EBIT -6.2 m USD20242025: 5.1 m USD2025: EBIT -8.1 m USD20255.1-8.1
RevenueOperating profit (EBIT)

Business

Share of revenue
Cloud video surveillance subscriptions55 %

Recurring subscriptions for AI-enabled cloud video surveillance billed by camera views.

Remote guarding services25 %

Human-assisted remote security monitoring and intervention services delivered through the platform.

Hardware sales12 %

Sale of surveillance hardware such as cloud video recorders, cameras, and horn speakers.

Installation and professional services6 %

Labor and setup services required to deploy hardware and software at customer sites.

Other services2 %

Miscellaneous revenue items tied to customer deployments and support activities.

Products

Reported · share of revenue
42.0%29.1%28.9%FY2025100 %
  • Installation and Other42.0 %
  • Subscription Services29.1 %
  • Hardware Sales28.9 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Cloudastructure primarily sells to property management companies and other commercial property operators that need centralized security across multiple locations. The company specifically highlighted contracts with five of the top 10 property management companies on the NMHC 50 list, showing that its core buyers are large multifamily housing operators with multi-site security needs. These customers buy the service to improve real-time safety, reduce on-site security costs, and manage surveillance consistently across a portfolio of properties. The business also appears to serve broader proptech and real estate security use cases, but property management remains the clearest end market. Because contracts are cancellable and often billed annually or monthly, customer retention and expansion across existing locations are important to revenue growth.

Large property management companies

Buy cloud surveillance and remote guarding to secure multiple residential properties and standardize oversight across portfolios.

Multifamily housing operators

Use the platform to improve resident safety, deter incidents, and monitor common areas and entrances.

Proptech and real estate operators

Adopt the system for AI-enabled security workflows and centralized management of distributed sites.

New site expansions within existing accounts

Existing customers add more locations over time, which drives expansion revenue and improves account penetration.

Strategy

Cloudastructure’s near-term strategy is to expand within existing large property management accounts by adding more locations and increasing camera-view usage. The company is also trying to win additional customers in the proptech space, which would broaden its installed base beyond the initial enterprise relationships. Management has emphasized building sales, marketing, and support capacity to convert early traction into repeatable growth. The formation of an India subsidiary suggests a parallel effort to scale remote guarding operations more efficiently. Longer term, the company expects to enter additional markets, which would reduce dependence on a narrow customer set and increase the addressable market for its AI security platform.

Expand existing enterprise accountsShort term

More locations per customer increases recurring revenue without needing a fully new logo for each sale.

Grow the proptech customer baseMedium term

New customers diversify revenue and reduce dependence on a small set of large property managers.

Scale remote guarding operations efficientlyMedium term

Remote guarding is labor-intensive, so operational leverage matters for margins and service quality.

Geography

Cloudastructure is headquartered in the United States and appears to generate most of its business there, with customer references centered on U.S. property management groups. The company formed Cloudastructure India Private Limited in Kolkata in 2025 to run remote guarding operations, indicating a growing offshore service-delivery footprint. Its operations therefore combine U.S. sales, support, and customer relationships with India-based monitoring capacity. The business is still early in geographic expansion and stated that it expects to enter additional markets in 2025 and 2026. Geography matters because the company’s service model depends on local customer acquisition, while remote guarding can be delivered from lower-cost operating centers.

Risks

Cloudastructure remains exposed to customer concentration because a meaningful share of its business is tied to a small number of large property management accounts. Its contracts are cancellable by either party, so revenue visibility depends on continued customer adoption and expansion across locations. The company is still in an early growth phase and has reported negative operating cash flow, which means execution risk is elevated if sales growth slows or operating costs rise faster than revenue. As a cloud security and AI service provider, it also faces technology, cybersecurity, and product reliability risks, since service outages or false alerts could damage customer trust. More broadly, the business is exposed to competition from other proptech, surveillance, and managed security providers, as well as to labor and hosting cost inflation in remote monitoring operations.

Sorted by severity
Customer concentrationHigh

The company relies on a limited set of large property management customers, so loss or downsizing of one account could materially affect revenue.

Exposure: Enterprise property management accounts

Contract cancellation and churnHigh

Customer agreements are cancellable, which limits backlog visibility and makes recurring revenue less durable than long-term contracts.

Exposure: Subscription and remote guarding contracts

Operating cash burnHigh

The company continues to use cash in operations while investing in growth, creating financing dependence if growth does not scale quickly.

Exposure: Growth-stage operations

Service reliability and cybersecurityMedium

Cloud-based surveillance and remote monitoring must function continuously; outages or security breaches could damage reputation and renewals.

Exposure: Cloud platform and monitoring operations

Competitive pressureMedium

The company competes against established security, surveillance, and proptech providers that may have larger installed bases or lower pricing.

Exposure: AI video surveillance and remote guarding market

Accounting

Judgemental items
Revenue recognition across multiple service types

Different recognition patterns for subscriptions, hardware, and installation can shift revenue between quarters and affect comparability.

Impact: Deferred revenue and quarterly revenue timing

Deferred revenue and contract billing

Annual upfront billing creates liabilities that are recognized over the service term, so cash receipts and revenue are not aligned.

Impact: Operating cash flow versus reported revenue

Inventory and equipment costs

Hardware sales require inventory accounting and can affect gross margin if demand or pricing changes.

Impact: Cost of goods sold and margin volatility

Stock-based compensation and preferred equity issuance

Non-cash compensation and financing-related issuance costs can materially affect operating loss and equity accounts.

Impact: Reported expenses and shareholders' equity

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026