Business
Gatekeeper Reports $7.5M Revenue, 16% YoY Growth, in Record Breaking Fiscal Q3 2025
Abbotsford, British Columbia--(Newsfile Corp. - July 30, 2025) - Gatekeeper Systems Inc.  (...
About this update from Gatekeeper Systems, Inc.
[{"type":"text","content":"Gatekeeper Reports $7.5M Revenue, 16% YoY Growth, in Record Breaking Fiscal Q3 2025Abbotsford, 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 press release dated January 4, 2024). When excluding that large contract, the Company's regular business grew approximately 21% 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 was 49% and 44%, respectively, compared to 42% and 48% 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...