Business
Gatekeeper Reports $27.8M Revenue, 39% YoY Growth in FY 2023, and Improves Net Income by 50% to $2.9M
Abbotsford, British Columbia--(Newsfile Corp. - December 28, 2023) - Gatekeeper Systems Inc. (TS...
About this update from Gatekeeper Systems, Inc.
[{"type":"text","content":"Gatekeeper Reports $27.8M Revenue, 39% YoY Growth in FY 2023, and Improves Net Income by 50% to $2.9MAbbotsford, British Columbia--(Newsfile Corp. - December 28, 2023) - 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 its fiscal year ended August 31, 2023. Highlights for Fiscal Year Ended August 31, 2023Revenue was $27,848,838 which compares to $20,031,288 the same prior year comparable period, representing an increase of 39%;Gross margin was $12,543,394 which compares to $9,308,813 for the same prior year comparable period, representing an increase of 35%. Gross margin as a percentage of revenue was 45%, compared to 47% for the same prior year comparable period;Total comprehensive income was $2,887,078 which compares to $1,929,180 for the same prior year comparable period, representing an increase of 50%;At August 31, 2023, the Company had cash and cash equivalents of $4,110,859, working capital of $13,434,551, no borrowed-money debt, and approximately 91.8 million shares outstanding; andTotal basic and diluted income per share for the year ended August 31, 2023 was $0.03.Management CommentaryDoug Dyment, President and CEO, commented, \"Our financial performance for fiscal year 2023 was record-breaking in all aspects. We continue to see significant growth in both the school and transit segments of our business. Our Platform as a Service (PaaS) business model and our comprehensive suite of product offerings are proving to be very successful in growing our business. We have grown our installed base of Mobile Data Collectors (MDCs) 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.\" Selected Financial Information         For the years ended  August 31,2023August 31,2022August 31,2021August 31,2020   Revenue $27,848,838$20,031,288$17,231,08...