- Gatekeeper Systems Inc. delivered a record-breaking fiscal Q1 2024, with 101 per cent year-over-year growth
- The quarter saw the company earn C$9.8 million in revenue compared to C$4.8 million a year earlier, representing an increase of 101 per cent revenue
- Gatekeeper also logged C$2.3 million ($0.02 per share) net income, which compared with a total loss of C$86,000 for the same prior year
- Gatekeeper Systems Inc. last traded at $0.50 per share
Gatekeeper Systems Inc. (TSXV:GSI) delivered a record-breaking fiscal Q1 2024, with 101 per cent year-over-year growth.
The Canadian provider of intelligent video and data solutions reported its financial results for the three months ending Nov. 30, 2023.
The quarter saw the company earn C$9.8 million in revenue compared to C$4.8 million a year earlier, representing an increase of 101 per cent revenue. Gatekeeper also logged C$2.3 million ($0.02 per share) net income, which compared with a total loss of C$86,000 for the same prior year.
Its gross margin was C$4.7 million, versus C$1.5 million for the same prior year comparable period, representing an increase of 209 per cent.
|
|
For the three months ended |
|
|
|
November 30, 2023 |
|
|
November 30, 2022 |
|
| Revenue |
$ |
9,824,743 |
|
$ |
4,885,058 |
|
| Cost of Sales |
$ |
5,046,698 |
|
$ |
3,338,940 |
|
| Gross Profit |
$ |
4,778,045 |
|
$ |
1,546,118 |
|
| Gross Margin Percentage |
|
49 per cent |
|
|
32 per cent |
|
|
|
|
|
|
|
|
| Expenses |
$ |
2,659,053 |
|
$ |
2,164,721 |
|
| Operating Income (Loss) |
$ |
2,118,992 |
|
$ |
(618,603 |
) |
|
|
|
|
|
|
|
| Comprehensive Income (Loss) for the period |
$ |
2,341,112 |
|
$ |
(86,014 |
) |
| Earnings (Loss) per share – |
|
|
|
|
|
|
| Basic |
$ |
0.02 |
|
$ |
(0.00 |
) |
| Diluted |
$ |
0.02 |
|
$ |
(0.00 |
) |
|
|
|
|
|
|
|
|
|
November 30, 2023 |
|
|
August 31, 2023 |
|
|
|
|
|
|
|
|
| Total Assets |
$ |
22,114,064 |
|
$ |
19,609,579 |
|
| Total Liabilities |
$ |
4,008,116 |
|
$ |
3,866,678 |
|
| Total Shareholders’ Equity |
$ |
18,105,948 |
|
$ |
15,742,901 |
|
“These are the strongest first fiscal quarter financial results in our history by a wide margin. Both the school and transit segments of our business are exhibiting solid growth based on our platform as a service (PaaS) business model. The installed base of mobile data collectors (MDCs) has grown to more than 50,000, and we are now actively preparing and selling recurring-revenue solutions to help our customers monitor and optimize the vast amounts of video and data being recorded every day. These new offerings utilize AI, video analytics, hosted software solutions, and wireless data connectivity, and they form the data layer in our PaaS business model that enables Gatekeeper’s evolution as a data company,” Doug Dyment, Gatekeeper’s president and CEO, said in a news release.
Based out of Abbotsford, B.C., Gatekeeper Systems Inc. uses AI, video analytics, and mobile data collectors to interconnect public transportation assets within a smart city ecosystem. The company’s PaaS business model is centered on wirelessly enabled MDCs. Since its inception, the company has installed approximately 40,000 intelligent MDCs and 100,000 video devices on school buses across 3,500 school districts.
Gatekeeper Systems Inc. last traded at $0.50 per share.
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