Gatekeeper Reports $37.8M Revenue, $4.2M Operating Profit, 36% YoY Growth in FY 2024
Gatekeeper Systems reported record financial results for FY2024, with revenue reaching $37.8M, a 36% increase year-over-year. The company achieved an operating profit of $4.2M, up 56% from the previous year. Gross profit increased 37% to $17.2M, maintaining a 46% margin.
The company's school bus segment generated $22.6M in revenue (60% of total), while the transit segment contributed $12.5M (33%). Service & recurring revenue reached $2.7M (7%). The company has installed approximately 57,000 Mobile Data Collectors across its network, managing roughly 200,000 video devices daily. As of August 31, 2024, Gatekeeper maintained a strong financial position with $6.7M in cash, $16.7M in working capital, and no debt.
Gatekeeper Systems ha riportato risultati finanziari record per l'anno fiscale 2024, con un fatturato pari a $37,8M, un aumento del 36% rispetto all'anno precedente. L'azienda ha raggiunto un utile operativo di $4,2M, in crescita del 56% rispetto all'anno scorso. L'utile lordo è aumentato del 37%, arrivando a $17,2M, mantenendo un margine del 46%.
Il segmento dei pullman scolastici dell'azienda ha generato un fatturato di $22,6M (60% del totale), mentre il segmento del trasporto ha contribuito con $12,5M (33%). I ricavi da servizi e quelli ricorrenti hanno raggiunto $2,7M (7%). L'azienda ha installato circa 57.000 Dispositivi di Raccolta Dati Mobili nella propria rete, gestendo quotidianamente circa 200.000 dispositivi video. Al 31 agosto 2024, Gatekeeper ha mantenuto una posizione finanziaria solida con $6,7M in contante, $16,7M in capitale circolante e senza debiti.
Gatekeeper Systems informó resultados financieros récord para el año fiscal 2024, con ingresos alcanzando $37.8M, un aumento del 36% en comparación con el año anterior. La empresa logró un beneficio operativo de $4.2M, un aumento del 56% desde el año pasado. El beneficio bruto aumentó un 37% a $17.2M, manteniendo un margen del 46%.
El segmento de autobuses escolares de la empresa generó $22.6M en ingresos (60% del total), mientras que el segmento de tránsito contribuyó con $12.5M (33%). Los ingresos por servicios y recurrentes alcanzaron $2.7M (7%). La empresa ha instalado aproximadamente 57,000 Coleccionadores de Datos Móviles en su red, gestionando alrededor de 200,000 dispositivos de video a diario. Al 31 de agosto de 2024, Gatekeeper mantenía una posición financiera sólida con $6.7M en efectivo, $16.7M en capital de trabajo y sin deudas.
게이트키퍼 시스템즈는 FY2024에 대한 기록적인 재무 성과를 보고했으며, 수익은 $37.8M에 도달하여 전년 대비 36% 증가했습니다. 회사는 운영 이익 $4.2M을 달성했으며, 이는 전년 대비 56% 증가한 수치입니다. 총 이익은 37% 증가하여 $17.2M에 도달하며, 46%의 마진을 유지했습니다.
회사의 학교 버스 부문은 $22.6M의 수익을 창출했으며 (총 수익의 60%), 대중교통 부문은 $12.5M을 기여했습니다 (33%). 서비스 및 반복 수익은 $2.7M에 도달했습니다 (7%). 회사는 네트워크 전반에 약 57,000개의 모바일 데이터 수집기를 설치하고 있으며, 매일 약 200,000개의 비디오 장치를 관리하고 있습니다. 2024년 8월 31일 현재, 게이트키퍼는 $6.7M의 현금, $16.7M의 운영 자본, 그리고 부채가 없는 강력한 재무 상태를 유지하고 있습니다.
Gatekeeper Systems a annoncé des résultats financiers records pour l'exercice 2024, avec des revenus atteignant $37,8M, soit une augmentation de 36% par rapport à l'année précédente. L'entreprise a réalisé un bénéfice d'exploitation de $4,2M, en hausse de 56% par rapport à l'année dernière. Le bénéfice brut a augmenté de 37% pour atteindre $17,2M, maintenant une marge de 46%.
Le segment des bus scolaires de l'entreprise a généré $22,6M de revenus (60% du total), tandis que le segment des transports a contribué $12,5M (33%). Les revenus provenant des services et des revenus récurrents ont atteint $2,7M (7%). L'entreprise a installé environ 57 000 Collecteurs de Données Mobiles dans son réseau, gérant environ 200 000 dispositifs vidéo chaque jour. Au 31 août 2024, Gatekeeper a maintenu une position financière solide avec $6,7M en espèces, $16,7M en fonds de roulement, et aucune dette.
Gatekeeper Systems berichtete über rekordverdächtige finanzielle Ergebnisse für das Geschäftsjahr 2024, mit einem Umsatz von $37,8M, was einem Anstieg von 36% im Vergleich zum Vorjahr entspricht. Das Unternehmen erzielte einen operativen Gewinn von $4,2M, was einem Anstieg von 56% gegenüber dem Vorjahr entspricht. Der Bruttogewinn stieg um 37% auf $17,2M und hielt eine Marge von 46%.
Der Schulbus-Sektor des Unternehmens generierte einen Umsatz von $22,6M (60% des Gesamtumsatzes), während der Transitsatz $12,5M (33%) beitrug. Der Service- und wiederkehrende Umsatz erreichte $2,7M (7%). Das Unternehmen hat etwa 57.000 mobile Datensammler in seinem Netzwerk installiert, die täglich rund 200.000 Videogeräte verwalten. Zum 31. August 2024 hielt Gatekeeper eine starke finanzielle Position mit $6,7M in bar, $16,7M im Working Capital und keiner Verschuldung.
- Record revenue of $37.8M, up 36% YoY
- Operating profit increased 56% to $4.2M
- Gross profit margin improved to 46% from 45%
- Transit segment revenue grew 76% YoY
- Strong balance sheet with $6.7M cash and no debt
- Service & recurring revenue increased 41% YoY
- Total comprehensive income decreased to $1.9M from $2.9M YoY
- Significant tax expenses: $1.5M deferred and $811K current
Abbotsford, British Columbia--(Newsfile Corp. - December 20, 2024) - 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 audited financial results for the fiscal year ended August 31, 2024.
Highlights for Fiscal Year Ended August 31, 2024:
Revenue for the fiscal year ended August 31, 2024 was
$37,810,957 , compared to$27,848,838 for the same prior year comparable period, representing an increase of36% and the highest fiscal yearly revenue in the Company's history;Gross profit was
$17,242,182 , compared to$12,543,394 for the same prior year comparable period, representing an increase in gross profit of37% . Gross profit as a percentage of revenue was46% compared to45% for the same prior year comparable period;Operating profit was
$4,194,543 , compared to$2,692,107 for the same prior year comparable period, representing an increase of56% ;Total comprehensive income was
$1,899,718 , compared to$2,887,078 for the same prior year comparable period. Total deferred income tax expense of$1,462,000 and total current income tax expense of$811,233 was recognized during the year ended August 31, 2024; andAt August 31, 2024, the Company had cash and cash equivalents of
$6,721,250 , working capital of$16,702,256 , no borrowed-money debt, and approximately 93.6 million shares outstanding.
Highlights for Fiscal Fourth Quarter Ended August 31, 2024:
Revenue for the three months ended August 31, 2024 was
$11,670,476 , compared to$7,344,882 for the same prior year comparable period, representing an increase of59% and the highest fiscal quarterly revenue in the Company's history; andOperating profit for the three months ended August 31, 2024 was
$776,422 , compared to$742,189 for the same prior year comparable period, representing an increase of5% .
Management Commentary
"Our financial performance in fiscal year 2024 was our strongest ever and marks our third consecutive year of profitability," commented Doug Dyment, President and CEO of Gatekeeper.
"During the year we installed approximately 9,000 Mobile Data Collectors for our customers on their buses, increasing the installed base to approximately 57,000. These MDCs record and store video from roughly 200,000 video devices on school and transit buses daily, which elevates the need for automated video analytics. Therefore, this year we established a data center for our AI-based video analytics hosted services offerings and school districts are now beginning to embrace our solutions for full-fleet, AI-assisted video analytics and evidence management.
We also developed and launched new AI-based video cameras, such as our Pedestrian Protector which helps the bus driver with blind spot detection when children are around the bus, or our Cell Phone Detection camera that uses video algorithms to automatically detect if a school bus driver is texting while driving. School districts are increasingly turning toward technology to improve school bus safety for school children, and we are innovating accordingly. Our transit segment witnessed very strong revenue growth, and we added new smaller transit customers throughout the year. We continue to invest in our people, and we are extremely proud of the exceptional customer service our employees delivered to our valued customers in 2024."
School bus segment
Gatekeeper's history is anchored in video and data solutions for school buses that help protect school children while travelling to and from school. The Company has well-established relationships with school districts throughout North America and has installed approximately 53,000 Mobile Data Collectors (MDCs) and more than 180,000 video devices on school buses for more than 3,500 school district customers. During the fiscal year 2024, school bus segment revenues were approximately
Transit segment
Gatekeeper entered the transit industry in 2018, and the Company's transit solutions have since contributed more than
Service & Recurring
Gatekeeper has annual service contracts with certain customers as well as per-month, per-vehicle based subscription contracts with certain customers for specialized video analytics and hosted solutions. During the fiscal year 2024, service & recurring revenues were approximately
Selected Financial Information
| For the years ended | |||||||||||||||||||
| August 31, 2024 | August 31, 2023 | August 31, 2022 | August 31, 2021 | ||||||||||||||||
| Revenue | $ | 37,810,957 | $ | 27,848,838 | $ | 20,031,288 | $ | 17,231,080 | |||||||||||
| Cost of Sales | $ | 20,568,775 | $ | 15,305,444 | $ | 10,722,475 | $ | 9,715,096 | |||||||||||
| Gross Profit | $ | 17,242,182 | $ | 12,543,394 | $ | 9,308,813 | $ | 7,515,984 | |||||||||||
| Gross Margin Percentage | |||||||||||||||||||
| Expenses | $ | 13,047,639 | $ | 9,851,287 | $ | 8,244,400 | $ | 7,922,351 | |||||||||||
| Operating Income (Loss) | $ | 4,194,543 | $ | 2,692,107 | $ | 1,064,413 | $ | (406,367 | ) | ||||||||||
| Comprehensive Income (Loss) | $ | 1,899,718 | $ | 2,887,078 | $ | 1,929,180 | $ | (1,011,932 | ) | ||||||||||
| Earnings (Loss) per share - | |||||||||||||||||||
| Basic | $ | 0.02 | $ | 0.03 | $ | 0.02 | $ | (0.01 | ) | ||||||||||
| Diluted | $ | 0.02 | $ | 0.03 | $ | 0.02 | $ | (0.01 | ) | ||||||||||
| Total Assets | $ | 22,368,076 | $ | 19,609,579 | $ | 23,016,204 | $ | 14,401,634 | |||||||||||
| Total Non-Current Liabilities | $ | 687,236 | $ | 561,851 | $ | 1,578,025 | $ | 1,790,287 | |||||||||||
| Total Liabilities | $ | 4,205,999 | $ | 3,866,678 | $ | 10,470,109 | $ | 4,421,803 | |||||||||||
| Total Shareholders' Equity | $ | 18,162,077 | $ | 15,742,901 | $ | 12,546,095 | $ | 9,979,831 | |||||||||||
Full details of the financial reports and operating results for the fiscal year ended August 31, 2024, are described in the Company's audited consolidated financial statements with accompanying notes and related Management's Discussion and Analysis, available on SEDAR+ at www.sedarplus.ca.
About Gatekeeper Systems Inc.
Gatekeeper is a leading provider of intelligent video and data solutions designed to provide a safer transportation environment for children, passengers, and public safety personnel on multiple transportation modes. The Company uses AI, video analytics, and Mobile Data Collectors to interconnect public transportation assets within a Smart City ecosystem. The Company's Platform-as-a-Service (PaaS) business model is centered around wirelessly enabled Mobile Data Collectors which forms the foundation of the Company's data company evolution. www.gatekeeper-systems.com
Contact Information:
Douglas Dyment
President & CEO
ddyment@gatekeeper-systems.com
(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 year ended August 31, 2024. 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 the 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234629
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