RE:Solid numbersvoile wrote: And new investor presentation: https://www.gatekeeper-systems.com/wp-content/uploads/2021/12/GSI-Investor-Presentation-Jan-2022.pdf
Gatekeeper Systems earns $108,068 in fiscal 2021
2021-12-29 19:21 ET - News Release
Mr. Douglas Dyment reports
GATEKEEPER REPORTS $17.2M REVENUE, $0.7M OPERATING PROFIT IN FISCAL 2021
Gatekeeper Systems Inc. has released its financial results for fiscal year ended Aug. 31, 2021.
Key business highlights for fiscal year Aug. 31, 2021:
- Launched AI-(artificial intelligence)-enabled Automatic Lane Enforcement (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;
- Appointed Colin Sutherland and Corey Muirhead as independent directors;
- Signed numerous new contracts including a five-year agreement with the eighth-largest school district and a $2-million (U.S.) contract with No. 1 bus dealer in U.S.;
- Named a top 10 tech company in 2021 TSX Venture 50;
- Installed approximately 5,000 intelligent mobile data collectors, increasing total installations by the company to now be approximately 40,000.
Financial highlights for fiscal year Aug. 31, 2021:
- Revenue was $17,231,080 which compares with $20,316,576 for the same period in the previous year. Revenue variance was primarily due to a $6.3-million contract which was completed in November, 2020. Approximately $4.74-million of this contract was billed during the fiscal year 2020 and approximately $1.56-million was billed during the fiscal year 2021. Revenue recognition details relating to this contract were announced in press releases dated July 9, 2020, and Nov. 10, 2020;
- Gross profit was $7,515,984 which compares with $8,348,810 for the same period in the previous year;
- Gross margin as a percentage of revenue was 44 per cent which compares with 41 per cent in the previous year;
- Operating profit $713,633 which compares with $2,052,758 for the same period in the previous year; and
- Cash flow generated from operating activities was $4,141,853, and at Aug. 31, 2021, the company had cash of $3,601,034, working capital of $9,022,267, no borrowed-money debt and approximately 90.3 million shares outstanding.
Management commentary
"For the fiscal year 2021 we made significant progress in developing and launching new product solutions that we expect will deliver significant future revenues, all while continuing to achieve operating profitability," commented Doug Dyment, president and chief executive officer. "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. We've now installed approximately 40,000 mobile data collectors on school buses and transit vehicles, which form the foundation layer of our platform-as-a-service business mode. Video and data solutions are now a requirement in public transportation, and I'm very excited for our future as we build out Gatekeeper as a data company helping to protect people in transit."
Full details of the financial reports and operating results for the year ended Aug. 31, 2021, are described in the company's consolidated financial statements with accompanying notes and related management's discussion and analysis, available on SEDAR.