Xtract One Strong Preliminary First Quarter 2024 Results TORONTO, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Xtract One Technologies Inc. (TSX: XTRA) (OTCQX: XTRAF) (FRA: 0PL) (“Xtract One” or the “Company”) a leading technology-driven threat detection and security solution that prioritizes the patron access experience by leveraging AI, today announced strong preliminary first quarter 2024 financial results. All information is in Canadian dollars unless otherwise indicated. Based on preliminary unaudited results, the Company is expecting:
- Total contract value of new bookings1 during the quarter of $9.6M (Q4 2023: $5.3M), with a minimum of $10.5 million of agreements pending installation1 (Q4 2023: $10.4M);
- Expected contractual backlog in the range of $8.2 million to $9.4 million (Q4 2023: $4.1M);
- Record revenue for the quarter, to range between $2.9 million to $3.2 million (Q4 2023: $1.8M); and,
- Gross profit margin of between 64%-67% for the three months ended October 31, 2023 (Q1 2023: 52%).