RE:Earnings outRogersBulll wrote: $3.83 mil in revenue, $40k loss. $12.1 mil in revenue for the year.
Still have a lot of cash on the balance sheet - $4 mil, $2.4 mil in receivables and $3 mil in LOC from TD is unused.
Kind of expected in my opinion. Glad to have this out of the way. GLTA
Gatekeeper Systems loses $42,393 in fiscal Q3 2021
2021-07-26 16:44 ET - News Release
Mr. Douglas Dyment reports
GATEKEEPER REPORTS 6TH CONSECUTIVE QUARTER OF OPERATING PROFIT WHILE INCREASING INVESTMENT IN AI DEVELOPMENT
Gatekeeper Systems Inc. has released its financial results for the three and nine months ended May 31, 2021. During the quarter, the company achieved its sixth consecutive quarter of operating profit while investing approximately $500,000 in artificial intelligence development pertaining to the company's recently launched automatic lane enforcement (ALE) product offering.
ALE uses video analytics and artificial intelligence to identify instances in which vehicles are violating transit lane traffic laws or passing a streetcar when passengers are boarding or deboarding. ALE records the video evidence, captures the vehicle licence plate and prepares the instance for review and ticketing using the company's proprietary traffic infraction management system (TIMS) software. The company is currently conducting live ALE transit trials.
Business highlights
- Launched AI-enabled ALE solution for traffic lane violations;
- Developed Clarity, an industry-first integrated video and school bus operating platform;
- Launched a new software-as-a-service (SaaS) based video management solution designed to store and manage school bus video data, and announced first customer deployment;
- Announced contracts with school districts in Louisiana, Illinois and Alberta;
- Announced pilot project installations for Toronto Student Transportation Group and for the Canadian federal, provincial and territorial school bus safety initiative.
Financial highlights
- Revenue for the nine months ended May 31, 2021, was $12,088,139, which compares with $12,584,503 for the same period in the previous year;
- Revenue for the three months ended May 31, 2021, was $3,831,373, which compares with $5,653,462 for the same period in the previous year;
- Gross profit for the three and nine months ended May 31, 2021, was $1,853,029 and $5,224,335 respectively, and represents 48 per cent and 43 per cent of revenues respectively;
- Operating profit for the three and nine months ended May 31, 2021, was $144,081 and $489,492 respectively;
- Cash flow generated from operating activities during the nine-month period was $4,856,090, and at May 31, 2021, the company had working capital of $8,738,973, no borrowed-money debt and approximately 90.3 million shares outstanding.
Management commentary
"In fiscal Q3 2021, we maintained operating profitability while reinvesting in our business to develop new product lines, which we expect will deliver significant future revenues," commented Doug Dyment, president and chief executive officer. "Our backlog and sales pipeline are strong in both the transit and school markets, and in Q3 most of our business was repeat orders from existing customers through our recurring-customer business model. We are strategically investing in our AI and video analytics capabilities to develop smart city products such as ALE, which we recently launched as a solution to help cities improve passenger safety and alleviate traffic congestion as we emerge from the pandemic."
Full details of the financial reports and operating results for the third quarter ended May 31, 2021, are described in the company's consolidated financial statements with accompanying notes, and related management's discussion and analysis, available on SEDAR.