Business
Gatekeeper Reports $6M Revenue and $0.4M Net Income in Fiscal Q3; $20.5M Revenue and $2.2M Net Income in 9 Month Period; 101% YoY Growth
Abbotsford, British Columbia--(Newsfile Corp. - July 19, 2023) - Gatekeeper Systems Inc. (TSXV: ...
About this update from Gatekeeper Systems, Inc.
[{"type":"text","content":"Gatekeeper Reports $6M Revenue and $0.4M Net Income in Fiscal Q3; $20.5M Revenue and $2.2M Net Income in 9 Month Period; 101% YoY GrowthAbbotsford, British Columbia--(Newsfile Corp. - July 19, 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 financial results for the three and nine months ended May 31, 2023.Highlights for the Third Fiscal Quarter Ended May 31, 2023:Revenue for the three and nine months ended May 31, 2023, was $5,933,125 and $20,503,956 respectively, the highest in the Company's history and compares to $4,388,520 and $10,192,417 for the same prior year comparable periods, representing an increase of 35% and 101% respectively;Gross margin for the three months and nine months ended May 31, 2023, was $2,946,985 and $9,038,682 respectively, the highest in the Company's history and compares to $1,810,596 and $4,511,146 for the same prior year comparable periods, representing an increase in gross margin of 63% and 101%, respectively;Gross margin as a percentage of revenue for the three and nine months ended May 31, 2023 was 50% and 44%, respectively, compared to 41% and 44% for the same prior year comparable periods. Total comprehensive income for the three and nine months ended May 31, 2023, was $440,963 and $2,219,853 respectively, the highest in the Company's history and compares to total comprehensive loss of $317,760 and $800,875 for the same prior year comparable periods;For the trailing twelve months ended May 31, 2023, revenue was $30,342,827, gross margin was $13,836,349, and total comprehensive income was $4,949,908; andAt May 31, 2023, the Company had working capital of $12,689,531 and approximately 91.6 million shares outstanding.Management CommentaryDoug Dyment, President and CEO commented, \"Our financial performance in the third fiscal quarter of 2023 was once again record-breaking in all aspects. We are witnessing significant growth in both the transit and school segments of our business. Our Platform as a Service (PAAS) business model is proving to be very successful in increasing our revenues on a per bus/train basis. We've now installed more than 47,000 mobile data collectors on passenger transportation vehicles which are recording video and data daily. As...