Xtract One Technologies Reports Q3 Fiscal 2025 Financial Results
Xtract One Technologies Reports Third Quarter Fiscal 2025 Results
Xtract One Technologies Inc. (TSX: XTRA) (OTCQX: XTRAF) (FRA: 0PL), a trailblazer in security solutions utilizing AI for seamless patron access, recently disclosed its fiscal third quarter results, covering the period ending April 30, 2025. The results underscore the company's commitment to innovation and security enhancement.
Third Quarter Financial Highlights
During this quarter, Xtract One experienced a revenue of $3.5 million, reflecting a decrease from $4.7 million in the same period last year. The gross margin held steady at 57%, slightly lower than the previous year's margin of 58%. In terms of new business, the total contract value for bookings reached $4.6 million, compared to $9.5 million during the prior-year period.
Contractual Backlog and Future Outlook
At the conclusion of the third quarter, the contractual backlog was reported at $15.4 million, showing an increase from $13.8 million year-over-year, not including a substantial $21.1 million in agreements yet to be installed. This bodes well for the upcoming quarters as the company prepares to launch its new security platform, the Xtract One Gateway.
Innovative Solutions in Progress
One of the standout announcements this quarter pertains to Xtract One Gateway, which earned certification in both Canada and the U.S. The company is scheduled to begin shipments as early as July, with an aggregate order value of approximately $6.7 million secured from five distinct clients. Demonstrations and trials are currently taking place across various sectors including education, healthcare, and manufacturing.
Leadership Insights
Peter Evans, CEO of Xtract One, stated, "Even though revenue fell short of our predictions due to some delays in deployments, our outlook remains positive with a growing backlog. We are optimistic for the fourth quarter and are gearing up for a strong finish to fiscal 2025. Our recent investments have impacted cash levels, which was anticipated but positions us well for future growth. The addition of new clients such as the Colorado Rockies and a major international entertainment company further solidifies our market presence."
Detailed Financial Overview for Q3
The total revenue for this quarter was $3.5 million, a reduction from the previous year's revenue of $4.7 million, primarily due to shifts in order deployments. The corresponding gross profit stood at $2.0 million with a margin of 57%, down from $2.7 million and 58% in the previous fiscal year. The comprehensive loss recorded for the period amounted to $3.3 million, compared to a loss of $2.7 million a year earlier. This shift illustrates the balance between reduced gross profit and lower operating expenses.
Upcoming Conference Call
Xtract One plans to conduct a conference call to discuss these results in detail. This session is set for June 6, 2025, at 10:00 AM EST. Peter Evans and CFO Karen Hersh will present the financial results and provide insights into the outlook for the business. This will be followed by a question-and-answer segment from participants.
About Xtract One Technologies
Xtract One is at the forefront of technological advancements in threat detection and security solutions. By focusing on patron access control and integrating AI, the company enhances safety within various environments. Their innovative weapons and threat detection systems facilitate unobtrusive entry experiences while ensuring safety, making them a market leader in the security landscape.
Frequently Asked Questions
What were Xtract One's revenue and gross profit for Q3 2025?
The company reported revenue of $3.5 million and a gross profit of $2 million.
What are the future plans for the Xtract One Gateway?
The Xtract One Gateway is expected to begin shipping in July and currently has a total order value of approximately $6.7 million.
How has the company performed year-over-year?
Xtract One experienced a decline in revenue compared to the same period last year, impacted by delays in contract deployments.
What recent wins has Xtract One achieved?
The company has secured contracts with the Colorado Rockies and a major international entertainment entity.
When will the conference call be held?
The conference call is scheduled for June 6, 2025, at 10:00 AM EST.
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