Gatekeeper Reports $7.5M Revenue, 16% YoY Growth, in Record Breaking Fiscal Q3 2025
Gatekeeper Systems (OTC:GKPRF) reported record fiscal Q3 2025 results with revenue reaching $7.5 million, a 16% year-over-year increase. The video and data solutions provider achieved 49% gross margins for the quarter, up from 42% in the previous year.
The company secured significant contracts including $7 million in transit contracts and $5.4 million in school bus video and subscription contracts. Notable growth was seen in video management subscriptions, expanding from 300 to 3,500 subscribers during the fiscal year.
Despite the revenue growth, Gatekeeper reported a quarterly operating loss of $0.1 million. The company maintains a strong financial position with $15.6 million in working capital and recently completed an $11.5 million bought-deal financing.
Gatekeeper Systems (OTC:GKPRF) ha riportato risultati record nel terzo trimestre fiscale 2025, con ricavi pari a 7,5 milioni di dollari, segnando un aumento del 16% rispetto all'anno precedente. Il fornitore di soluzioni video e dati ha raggiunto un margine lordo del 49% nel trimestre, in crescita rispetto al 42% dell'anno precedente.
L'azienda ha ottenuto contratti importanti, tra cui 7 milioni di dollari in contratti per il trasporto pubblico e 5,4 milioni di dollari in contratti per video e abbonamenti per autobus scolastici. 脠 stata registrata una crescita significativa negli abbonamenti per la gestione video, passati da 300 a 3.500 abbonati durante l'anno fiscale.
Nonostante l'aumento dei ricavi, Gatekeeper ha riportato una perdita operativa trimestrale di 0,1 milioni di dollari. L'azienda mantiene una solida posizione finanziaria con 15,6 milioni di dollari di capitale circolante e ha recentemente completato un finanziamento tramite bought-deal da 11,5 milioni di dollari.
Gatekeeper Systems (OTC:GKPRF) report贸 resultados r茅cord en el tercer trimestre fiscal de 2025, con ingresos que alcanzaron los 7,5 millones de d贸lares, un aumento del 16% interanual. El proveedor de soluciones de video y datos logr贸 m谩rgenes brutos del 49% durante el trimestre, frente al 42% del a帽o anterior.
La compa帽铆a asegur贸 contratos significativos, incluidos 7 millones de d贸lares en contratos de tr谩nsito y 5,4 millones de d贸lares en contratos de video y suscripci贸n para autobuses escolares. Se observ贸 un crecimiento notable en las suscripciones de gesti贸n de video, que aumentaron de 300 a 3.500 suscriptores durante el a帽o fiscal.
A pesar del crecimiento en ingresos, Gatekeeper report贸 una p茅rdida operativa trimestral de 0,1 millones de d贸lares. La empresa mantiene una posici贸n financiera s贸lida con 15,6 millones de d贸lares en capital de trabajo y recientemente complet贸 una financiaci贸n bought-deal de 11,5 millones de d贸lares.
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Gatekeeper Systems (OTC:GKPRF) a annonc茅 des r茅sultats records pour le troisi猫me trimestre fiscal 2025, avec un chiffre d'affaires atteignant 7,5 millions de dollars, soit une augmentation de 16 % par rapport 脿 l'ann茅e pr茅c茅dente. Le fournisseur de solutions vid茅o et de donn茅es a r茅alis茅 une marge brute de 49 % pour le trimestre, contre 42 % l'ann茅e pr茅c茅dente.
L'entreprise a obtenu des contrats importants, notamment 7 millions de dollars en contrats de transport et 5,4 millions de dollars en contrats vid茅o et abonnements pour bus scolaires. Une croissance notable a 茅t茅 observ茅e dans les abonnements de gestion vid茅o, passant de 300 脿 3 500 abonn茅s au cours de l'exercice.
Malgr茅 la croissance du chiffre d'affaires, Gatekeeper a enregistr茅 une perte d'exploitation trimestrielle de 0,1 million de dollars. L'entreprise conserve une solide position financi猫re avec 15,6 millions de dollars de fonds de roulement et a r茅cemment finalis茅 un financement bought-deal de 11,5 millions de dollars.
Gatekeeper Systems (OTC:GKPRF) meldete Rekordergebnisse f眉r das dritte Quartal des Gesch盲ftsjahres 2025 mit einem Umsatz von 7,5 Millionen US-Dollar, was einem Anstieg von 16 % im Jahresvergleich entspricht. Der Anbieter von Video- und Datenl枚sungen erzielte im Quartal eine Bruttomarge von 49 %, gegen眉ber 42 % im Vorjahr.
Das Unternehmen sicherte sich bedeutende Vertr盲ge, darunter 7 Millionen US-Dollar in Transitvertr盲gen und 5,4 Millionen US-Dollar in Video- und Abonnementvertr盲gen f眉r Schulbusse. Ein bemerkenswertes Wachstum wurde bei den Video-Management-Abonnements verzeichnet, die im Gesch盲ftsjahr von 300 auf 3.500 Abonnenten anstiegen.
Trotz des Umsatzwachstums meldete Gatekeeper einen operativen Quartalsverlust von 0,1 Millionen US-Dollar. Das Unternehmen verf眉gt 眉ber eine starke Finanzlage mit 15,6 Millionen US-Dollar Betriebskapital und hat k眉rzlich eine 11,5 Millionen US-Dollar Bought-Deal-Finanzierung abgeschlossen.
- Record Q3 revenue of $7.5M, up 16% year-over-year
- Gross margin improved to 49% from 42% in Q3
- Video management subscriptions grew from 300 to 3,500 during fiscal year
- Secured $7M in transit contracts and $5.4M in school bus contracts
- Strong balance sheet with $15.6M working capital and no debt
- Successfully raised $11.5M through bought-deal financing
- TD Bank credit facility increased to $7.5M
- Operating loss of $0.1M in Q3 2025
- Nine-month revenue declined to $20.7M from $26.1M year-over-year
- Operating expenses increased to $3.7M from $3.2M in Q3
- Nine-month operating loss of $1.4M compared to $3.4M profit previous year
Abbotsford, British Columbia--(Newsfile Corp. - July 30, 2025) - Gatekeeper Systems Inc. (TSXV: GSI) (OTC Pink: GKPRF) ("Gatekeeper" or the "Company"), a video and data solutions provider for public transportation and smart cities, reports its financial results for the three and nine months ended May 31, 2025.
Recent business and Fiscal Q3 2025 highlights:
- Announced transit contracts worth over
$7 million , including for: a video services contract extension with SEPTA, a new transit customer in Oregon, a new transit customer in Canada, and factory-installed paratransit video systems; - Announced school bus video and subscription contracts worth over
$5.4 million , including for: bus fleets of 300 in Florida, 200 in Missouri, 100 in Indiana, 100 in Virginia, 70 in Nebraska, 51 in California, Student Protector installations in Nevada, 360 Surround Vision installations in Florida, and interior video for several school districts in Canada; - Video management and hosted service subscriptions grew from approximately 300 to 3,500 during this fiscal year;
- Transit team expanded with a particular focus on the Federal Railroad Administration (FRA) mandate;
- Revenue for the three-month period ended May 31, 2025, was the Company's highest-ever fiscal third quarter revenue, increasing
16% to$7.5 million , compared to$6.5 million in the prior year; - Revenue for the nine-month period was
$20.7 million , compared to$26.1 million in the prior year. The prior year nine-month revenue included a large transit contract of$9 million in addition to the Company's regular business (see dated January 4, 2024). When excluding that large contract, the Company's regular business grew approximately21% for the nine-month period ended May 31, 2025; - Gross profit for the three and nine month periods was
$3.7 million and$9.1 million respectively. Gross margin as a percentage of revenue for the three and nine months periods was49% and44% , respectively, compared to42% and48% for the same prior year comparable periods; - Operating expenses for the three and nine month periods were
$3.7 million and$10.5 million , respectively, as compared to$3.2 million and$9.2 million for the same prior year comparable periods. Operating expenses increased in the current period due to an increase in selling and marketing expenses and an increase in research and development costs associated with new product development; - Operating loss for the three and nine month periods was
$0.1 million and$1.4 million respectively, as compared to operating loss of$0.4 million and operating profit of$3.4 million for the same prior year comparable periods; - Total comprehensive loss for the three and nine month periods was
$0.4 million and$0.8 million respectively, as compared to loss of$0.5 million and income of$3.1 million for the same prior year comparable periods; - At May 31, 2025, the Company had working capital of
$15.6 million and no borrowed-money debt; and - Subsequent to the period ended May 31, 2025, the Company completed a bought-deal brokered financing generating gross proceeds of
$11.5 million and increased its Letter of Credit Facility with TD Bank to$7.5 million to accommodate potential inventory purchases and performance bond guarantees for large projects.
Management Commentary
Doug Dyment, President and CEO of Gatekeeper, commented, "Our fiscal third quarter marks the Company's highest-ever fiscal third quarter revenue. We continue to make investments in our business, which we believe will contribute strongly to our future growth and we are already witnessing those benefits. Customer adoption of our video management and hosted service subscriptions is gaining traction and most of our customer proposals now include these subscription services. During the current fiscal year, the number of Mobile Data Collectors under contract for monthly-recurring hosted services has increased from approximately 300 to 3,500, with additional subscriptions expected soon from contracts recently announced.
"Our school bus segment has recently delivered some significant wins, and we are seeing some contracts now greater than
"During the quarter, we added two new transit agencies to our growing list of transit customers, which now stands at over 60. We've also recently expanded the transit team, where we have a particular focus on the Federal Railroad Administration (FRA) mandate. The FRA mandate requires that all passenger train lead locomotives providing scheduled intercity rail passenger or commuter service be equipped with crashworthy memory modules and image recording devices prior to October 12, 2027. Gatekeeper already has a great deal of experience in providing FRA compliant solutions, and the FRA mandate comes at a time when transit agencies are also looking to do life cycle upgrades to their video systems, so this becomes a catalyst for them to do so. Gatekeeper is therefore increasing market awareness of its transit solutions. During this calendar year, our transit team has already attended 10 transit industry conferences and is scheduled to attend an additional 10 conferences."
Selected Financial Information
| For the three months ended | For the nine months ended | |||||||||||
| May 31, 2025 | May 31, 2024 | May 31, 2025 | May 31, 2024 | |||||||||
| Revenue | $ | 7,465,670 | $ | 6,457,184 | $ | 20,671,389 | $ | 26,140,481 | ||||
| Cost of Sales | 3,793,648 | 3,731,286 | 11,546,294 | 13,548,907 | ||||||||
| Gross Profit | 3,672,022 | 2,725,898 | 9,125,095 | 12,591,574 | ||||||||
| Gross Margin | ||||||||||||
| Expenses | 3,732,189 | 3,172,710 | 10,491,677 | 9,173,453 | ||||||||
| Operating Income (Loss) | (60,167 | ) | (446,812 | ) | (1,366,582 | ) | 3,418,121 | |||||
| Total Comprehensive Income (Loss) for the period | $ | (442,772 | ) | $ | (517,132 | ) | $ | (801,415 | ) | $ | 3,111,840 | |
| Earning (Loss) per share - | ||||||||||||
| Basic | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.01 | ) | $ | 0.03 | |
| Diluted | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.01 | ) | $ | 0.03 | |
| May 31, 2025 | August 31, 2024 | |||||||||||
| Total Assets | $ | 20,047,953 | $ | 22,368,076 | ||||||||
| Total Liabilities | 2,600,112 | 4,205,999 | ||||||||||
| Total Shareholders' Equity | $ | 17,447,841 | $ | 18,162,077 | ||||||||
Full details of the financial reports and operating results for the fiscal quarter ended May 31, 2025, are described in the Company's unaudited consolidated financial statements with accompanying notes and related Management's Discussion and Analysis, available on SEDAR+ at .
About Gatekeeper Systems Inc.
Gatekeeper is a leading provider of video and data solutions for a safer transportation environment for children, passengers, and drivers on public transportation fleets. Gatekeeper has provided solutions to more than 60 transit agencies and 3,500 school districts throughout North America and has installed more than 57,000 Mobile Data Collectors for customers which record video and data daily from over 200,000 onboard devices. The Company's hosted software applications facilitate AI-assisted video analytics for incident management and storage. The Company's Platform-as-a-Service (PaaS) business model is centered around the Mobile Data Collectors, which are the cornerstone of its data company transformation.
Contact Information:
Douglas Dyment
President & CEO
[email protected]
(604) 864-6187
Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. As a result, we cannot guarantee that any forward-looking statement will materialize, and readers are cautioned not to place undue reliance on these forward-looking statements. For more exhaustive information on these risks and uncertainties, the reader should refer to the risk factors described in the management's discussion and analysis for the period ended May 31, 2025. The forward-looking statements contained in this press release represent our expectations as of the date hereof. We disclaim any intention and assume no obligation to update or revise any forward-looking statements. Forward-looking statements are presented for the purpose of providing information about management's current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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