Xtract One Announces First Quarter Fiscal 2025 Results
Xtract One Technologies reported Q1 fiscal 2025 results with revenue of $3.6 million, up from $3.1 million year-over-year. The company achieved a gross margin of 64%, compared to 67% in the prior year period. Total contract value of new bookings was $4.2 million, down from $9.6 million last year, which included a $5 million contract from a global entertainment organization.
The company's contractual backlog stood at $14.0 million, up from $9.5 million in the prior year, with an additional $12.9 million in agreements pending installation. Notable expansion occurred outside core markets, with Education, Healthcare, and Manufacturing sectors comprising 67% of new bookings. The comprehensive loss remained stable at $2.7 million.
Xtract One Technologies ha riportato i risultati del primo trimestre fiscale 2025, con ricavi di $3,6 milioni, in aumento rispetto a $3,1 milioni dell'anno precedente. L'azienda ha raggiunto un margine lordo del 64%, rispetto al 67% del periodo dell'anno precedente. Il valore totale dei contratti di nuove prenotazioni è stato di $4,2 milioni, in calo rispetto ai $9,6 milioni dell'anno scorso, che includevano un contratto di $5 milioni da un'organizzazione globale di intrattenimento.
Il backlog contrattuale dell'azienda si attestava a $14,0 milioni, in aumento rispetto ai $9,5 milioni dell'anno precedente, con ulteriori $12,9 milioni in accordi in attesa di installazione. Si è registrata un'espansione notevole al di fuori dei mercati principali, con i settori dell'istruzione, della sanità e della produzione che costituivano il 67% delle nuove prenotazioni. La perdita complessiva è rimasta stabile a $2,7 milioni.
Xtract One Technologies reportó los resultados del primer trimestre fiscal 2025 con ingresos de $3,6 millones, un aumento respecto a los $3,1 millones del año anterior. La compañía logró un margen bruto del 64%, comparado con el 67% en el mismo periodo del año anterior. El valor total de los contratos de nuevas reservas fue de $4,2 millones, en comparación con los $9,6 millones del año pasado, que incluían un contrato de $5 millones de una organización global de entretenimiento.
El backlog contractual de la compañía se situó en $14,0 millones, en aumento desde los $9,5 millones del año anterior, con un adicional de $12,9 millones en acuerdos pendientes de instalación. Se produjo una expansión notable fuera de los mercados principales, con los sectores de educación, salud y manufactura que representaban el 67% de las nuevas reservas. La pérdida total se mantuvo estable en $2,7 millones.
Xtract One Technologies는 2025 회계 연도 1분기 결과를 보고하였으며, 수익은 $3.6 백만으로, 작년 대비 $3.1 백만에서 증가했습니다. 회사는 총 마진 64%를 달성했으며, 이는 지난해 같은 기간의 67%와 비교됩니다. 새로운 예약의 총 계약 가치는 $4.2 백만으로, 작년의 $9.6 백만에서 감소하였으며, 여기에는 글로벌 엔터테인먼트 조직의 $5 백만 계약이 포함됩니다.
회사의 계약적 잔고는 $14.0 백만으로, 작년의 $9.5 백만에서 증가하였으며, 추가로 $12.9 백만의 설치 대기 계약이 있습니다. 주요 시장 외부에서의 주목할 만한 확장이 발생하였으며, 교육, 건강 관리, 제조 부문이 새로운 예약의 67%를 차지했습니다. 총 손실은 $2.7 백만으로 안정적으로 유지되었습니다.
Xtract One Technologies a annoncé les résultats du premier trimestre de l'exercice 2025, avec un chiffre d'affaires de $3,6 millions, en hausse par rapport à $3,1 millions l'année précédente. L'entreprise a atteint une marge brute de 64%, contre 67% au cours de la période de l'année précédente. La valeur totale des contrats des nouvelles réservations était de $4,2 millions, en baisse par rapport à $9,6 millions l'année dernière, dont un contrat de $5 millions d'une organisation mondiale de divertissement.
Le carnet de commandes de l'entreprise s'élevait à $14,0 millions, en hausse par rapport à $9,5 millions l'année précédente, avec un complément de $12,9 millions en accords en attente d'installation. Une expansion notable a eu lieu en dehors des marchés de base, avec les secteurs de l'éducation, de la santé et de la fabrication représentant 67% des nouvelles réservations. La perte globale est restée stable à $2,7 millions.
Xtract One Technologies hat die Ergebnisse des ersten Quartals des Geschäftsjahres 2025 veröffentlicht, mit einem Umsatz von $3,6 Millionen, ein Anstieg von $3,1 Millionen im Vergleich zum Vorjahr. Das Unternehmen erzielte eine Bruttomarge von 64%, verglichen mit 67% im Vorjahreszeitraum. Der Gesamtwert neuer Aufträge betrug $4,2 Millionen, ein Rückgang von $9,6 Millionen im letzten Jahr, das einen $5 Millionen Vertrag von einer globalen Unterhaltungsorganisation beinhaltete.
Der Vertragsrückstand des Unternehmens betrug $14,0 Millionen, ein Anstieg von $9,5 Millionen im Vorjahr, mit zusätzlichen $12,9 Millionen in Verträgen, die auf die Installation warten. Eine bemerkenswerte Expansion fand außerhalb der Kernmärkte statt, wobei die Bereiche Bildung, Gesundheitswesen und Fertigung 67% der neuen Buchungen ausmachten. Der Gesamtverlust blieb stabil bei $2,7 Millionen.
- Revenue increased 16.1% year-over-year to $3.6 million
- Strong gross margin of 64%
- Contractual backlog grew to $14.0 million from $9.5 million year-over-year
- Successful market expansion beyond core sectors with 67% of new bookings from Education, Healthcare, and Manufacturing
- Total contract value of new bookings decreased to $4.2 million from $9.6 million year-over-year
- Gross margin declined from 67% to 64% year-over-year
- Continued comprehensive loss of $2.7 million
Active Business Development Pipeline Points to Strong Year Ahead
TORONTO, Dec. 05, 2024 (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 fiscal first quarter results for the three months ended October 31, 2024. All information is in Canadian dollars unless otherwise indicated.
First Quarter Highlights
- Quarterly revenue of
$3.6 million for the three months ended October 31, 2024 versus$3.1 million in the prior-year period.
- Gross margin of
64% for the first quarter of fiscal 2025 versus67% in the prior year period.
- Total contract value of new bookings1 was
$4.2 million for the three months ending October 31, 2024 as compared to$9.6 million for the same period last year. The total contract value of new bookings in the prior-year period also included$5 million from a large global entertainment organization.
- Contractual backlog was
$14.0 million at the end of the first quarter as compared to$9.5 million in the prior-year period, excluding an additional$12.9 million of agreements pending installation1 versus approximately$10.6 million at the end of the first quarter of fiscal 2024.
“As expected, first quarter revenue, while up year-over-year, was a little lighter in new bookings than recent periods reflecting order timing, as we focused on bringing Xtract One Gateway to market and actively engaged in business development initiatives to build our pipeline for the remainder of fiscal 2025,” stated Peter Evans, Chief Executive Officer of Xtract One. “We continue to win customers outside of our core sports and live entertainment markets, welcoming new clients in the Education, Healthcare, and Manufacturing sectors, which made up
Financial Results for the Three Month Period Ended October 31, 2024
Consolidated revenue was
Comprehensive loss was
This press release should be read in conjunction with the Company’s Unaudited Condensed Consolidated Interim Financial Statements, prepared in accordance with International Financial Reporting Standards (“IFRS”) and the Company’s Management’s Discussion and Analysis for the three month periods ended October 31, 2024 and 2023, which can be found on the Company’s website and under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Conference Call Details
Xtract One will host a conference call to discuss its results tomorrow, December 6, 2024 at 10:00 am EST. Peter Evans, Xtract One CEO and Director, and Karen Hersh, CFO and Corporate Secretary, will provide an overview of the interim financial results along with management’s outlook for the business, followed by a question-and-answer period.
The webcast and presentation will be accessible on the company’s website. The webcast can be accessed here and the telephone number for the conference call is 844-481-3016 (412-317-1881 for international callers).
About Xtract One Technologies
Xtract One Technologies is a leading technology-driven threat detection and security solution leveraging AI to provide seamless and secure patron access control experiences. The Company makes unobtrusive threat detection systems that enable facility building operators to prioritize and deliver “Walk-right-In” experiences while providing unprecedented safety. Xtract One's innovative portfolio of AI-powered Gateway solutions excels at allowing facilities to discreetly screen and identify weapons and other threats at points of entry and exit without disrupting the flow of traffic. With solutions built to serve the unique market needs for schools, hospitals, arenas, stadiums, manufacturing, distribution, and other customers, Xtract One is recognized as a market leader delivering the highest security in combination with the best individual experience. For more information, visit www.xtractone.com or connect on Facebook, Twitter, and LinkedIn.
For further information, please contact:
Xtract One Inquiries: info@xtractone.com, http://www.xtractone.com
Media Contact: Kristen Aikey, JMG Public Relations, 212-206-1645, kristen@jmgpr.com
Investor Relations: Chris Witty, Darrow Associates, 646-438-9385, cwitty@darrowir.com
1 Supplementary Financial Measures:
The Company utilizes specific supplementary financial measures in this earnings release to allow for a better evaluation of the operating performance of the Company’s business and facilitates meaningful comparison of results in the current period with those in prior periods and future periods. Supplementary financial measures do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to measures presented by other companies. Supplementary financial measures presented in this earnings release include ‘Agreements pending installation’ and ‘Total contract value of new bookings.’ Agreements pending installation reflects total value of signed contracts awarded to the Company that has not been installed at the customer site. ‘Total contract value of new bookings’ is comprised of all new contracts signed and awarded to the Company, regardless of the performance obligations outstanding as of the end of the reporting period. Total contract value is the aggregate value of sales commitments from customers as at the end of the reporting period without consideration of the Company’s completion of the associated performance obligations outlined in each contract.
CAUTIONARY DISCLAIMER STATEMENT:
This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipates”, “expects”, “believes”, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include but are not limited to the risks detailed from time to time in the continuous disclosure filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.
No securities exchange or commission has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Unaudited Interim Statements of Loss and Comprehensive Loss for the Three Months Ended October 31, 2024 and 2023
The following table is extracted from the Company’s unaudited condensed consolidated interim financial statements and presented in Canadian dollars to demonstrate the Statements of Loss and Comprehensive loss for the three months ended October 31, 2024 and 2023:
| Three months ended October 31, | |||||||||
| 2024 | 2023 | ||||||||
| Revenue | $ | 3,627,837 | $ | 3,116,353 | |||||
| Cost of revenue | 1,313,430 | 1,031,942 | |||||||
| Gross profit | $ | 2,314,407 | $ | 2,084,411 | |||||
| Operating expenses | |||||||||
| Selling and marketing | $ | 1,663,159 | $ | 1,507,657 | |||||
| General and administration | 1,864,192 | 1,647,816 | |||||||
| Research and development | 1,799,611 | 1,726,191 | |||||||
| Total operating expenses | $ | 5,326,962 | $ | 4,881,664 | |||||
| Loss before the undernoted | (3,012,555 | ) | (2,797,253 | ) | |||||
| Other income | |||||||||
| Interest and other income | 74,919 | 96,040 | |||||||
| Net loss for the period | $ | (2,937,636 | ) | $ | (2,701,213 | ) | |||
| Other comprehensive income for the period | |||||||||
| Currency translation differences for foreign operations | 282,819 | - | |||||||
| Comprehensive loss for the period | $ | (2,654,817 | ) | $ | (2,701,213 | ) | |||
| Weighted average number of shares | 218,397,852 | 198,354,825 | |||||||
| Basic and diluted loss per share | $ | (0.01 | ) | $ | (0.01 | ) | |||
Unaudited Interim Statements of Financial Position as at October 31, 2024 and July 31, 2024
The following table is extracted from the Company’s unaudited condensed consolidated interim financial statements and presented in Canadian dollars to demonstrate the Company’s financial position as at October 31, 2024 and July 31, 2024:
| October 31, 2024 | July 31, 2024 | ||||||||
| Assets | |||||||||
| Current assets | |||||||||
| Cash and cash equivalents | $ | 6,119,805 | $ | 8,628,521 | |||||
| Receivables | 3,693,439 | 3,862,199 | |||||||
| Prepaid expenses and deposits | 957,697 | 949,012 | |||||||
| Current portion of deferred cost of revenue | 371,299 | 371,309 | |||||||
| Inventory | 3,985,644 | 3,688,246 | |||||||
| 15,127,884 | 17,499,287 | ||||||||
| Property and equipment | 2,154,875 | 2,135,956 | |||||||
| Intangible assets | 4,890,908 | 4,465,755 | |||||||
| Non-current portion of deferred cost of revenue | 405,027 | 496,868 | |||||||
| Right of use assets | 1,117,504 | 344,304 | |||||||
| Total assets | $ | 23,696,198 | $ | 24,942,170 | |||||
| Liabilities | |||||||||
| Current liabilities | |||||||||
| Accounts payable and accrued liabilities | $ | 3,868,761 | $ | 3,991,292 | |||||
| Current portion of deferred revenue | 3,987,315 | 3,443,524 | |||||||
| Current portion of lease liability | 171,312 | 190,400 | |||||||
| 8,027,388 | 7,625,216 | ||||||||
| Non-Current liabilities | |||||||||
| Non-current portion of deferred revenue | 2,903,270 | 3,155,579 | |||||||
| Non-current portion of lease liability | 1,021,537 | 190,526 | |||||||
| $ | 11,952,195 | $ | 10,971,321 | ||||||
| Shareholders' equity | |||||||||
| Share capital | $ | 144,379,881 | $ | 144,372,452 | |||||
| Contributed surplus | 16,584,492 | 16,163,950 | |||||||
| Accumulated deficit | (149,503,189 | ) | (146,565,553 | ) | |||||
| Accumulated other comprehensive income | 282,819 | - | |||||||
| $ | 11,744,003 | $ | 13,970,849 | ||||||
| Total liabilities and shareholders' equity | $ | 23,696,198 | $ | 24,942,170 | |||||
Unaudited Interim Statements of Cash Flows for the Three Months Ended October 31, 2024 and 2023
The following table is extracted from the Company’s unaudited condensed consolidated interim financial statements and presented in Canadian dollars to demonstrate the Company’s cash flows for the three month periods ended October 31, 2024 and 2023:
| Three months ended October 31, | ||||||||||
| 2024 | 2023 | |||||||||
| Cash flow used in operating activities | ||||||||||
| Loss for the period | $ | (2,937,636 | ) | $ | (2,701,213 | ) | ||||
| Adjustment for: | ||||||||||
| Share-based compensation | 423,225 | 276,416 | ||||||||
| Depreciation | 347,318 | 286,845 | ||||||||
| Amortization | 207,808 | 201,475 | ||||||||
| Finance cost | 10,663 | 6,547 | ||||||||
| (1,948,622 | ) | (1,929,930 | ) | |||||||
| Changes in non-cash working capital | ||||||||||
| Receivables | 196,478 | (774,373 | ) | |||||||
| Prepaid expenses and deposits | (6,457 | ) | 498,348 | |||||||
| Inventory | (416,490 | ) | (680,192 | ) | ||||||
| Deferred cost of revenue | 91,851 | 13,752 | ||||||||
| Accounts payable and accrued liabilities | (130,246 | ) | (90,958 | ) | ||||||
| Deferred revenue | 258,663 | (32,146 | ) | |||||||
| Cash used in operating activities | (1,954,823 | ) | (2,995,499 | ) | ||||||
| Cash flow used in investing activities | ||||||||||
| Internally developed intangible assets | (445,912 | ) | - | |||||||
| Acquisition of right of use asset | (5,028 | ) | - | |||||||
| Cash used in investing activities | (450,940 | ) | - | |||||||
| Cash flow used in financing activities | ||||||||||
| Proceeds on issue of share capital | 4,745 | 53,587 | ||||||||
| Lease payments | (78,920 | ) | (95,356 | ) | ||||||
| Cash used in financing activities | (74,175 | ) | (41,769 | ) | ||||||
| Effect of exchange rate changes on cash and cash equivalents | (28,778 | ) | - | |||||||
| Net decrease in cash for the period | $ | (2,508,716 | ) | $ | (3,037,268 | ) | ||||
| Cash beginning of the period | 8,628,521 | 8,327,449 | ||||||||
| Cash end of the period | $ | 6,119,805 | $ | 5,290,181 | ||||||
FAQ
What was Xtract One's (XTRAF) revenue in Q1 fiscal 2025?
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What sectors contributed to Xtract One's (XTRAF) new bookings in Q1 2025?
